Bold Ventures Completes Electromagnetic Conductor Modelling at Farwell and Amends Option Agreements

TORONTO, ON / ACCESSWIRE / April 29, 2024 / Bold Ventures Inc. (TSX.V:BOL) (the "Company" or "Bold") is pleased to announce that it has completed geophysical modelling of 6 high priority electromagnetic conductors identified by a helicopter-borne, versatile time domain electromagnetic (VTEM Plus) and magnetic survey carried out by Bold in 2022. A copy of the report may be found in the Project Reports section found on the Farwell Battery and Precious Metals Project page. Combined with the geological and geophysical work accomplished to date, a drill program to test these targets has been developed.

The Farwell Gold and Copper project is located approximately 55km northwest of Wawa Ontario and consists of 133 Cells and Multi Cells comprising 15,901 acres (6,935 hectares). For reporting purposes, the Farwell property has been divided into three areas exhibiting gold and copper mineralization. They are the Farwell Sulphide Zone, the Tundra Gold Horizon and the Koala Gold Area. The focus for this phase of work is the Farwell Sulphide Zone where historical diamond drilling intersected highly anomalous copper values ranging up to 1.47% Cu over 5.2m (Bennett and Thurston 1977). The Farwell property geology and exploration results can be viewed at the Farwell Battery and Precious Metals Project.

The Company is also pleased to report an agreement to amend the Farwell anniversary optional payments due on June 1, 2024 to become due on December 1, 2024. The amendment is subject to regulatory approval. Full details of the amended anniversary dates follow.

The Farwell Option Amendment

Further to the Company's Press Release dated October 3, 2023, the Company wishes to advise that the Farwell Option Agreement has been further amended on April 29, 2024 pursuant to a Third Amending Agreement (the "Farwell Third Amendment") as follows:

1. by extending the date the cash option payment of $50,000 due on June 1, 2024 is payable to December 1, 2024;
2. by extending the date the 400,000 shares are issuable from June 1, 2024 to December 1, 2024; and
3. by extending the date an aggregate of $480,000 of work expenditures were due to have been made from June 1, 2024 to December 1, 2024.

All shares to be issued will be subject to a four month and one day hold period from the date of issuance. The Farwell Third Amendment is subject to TSX Venture Exchange ("TSX V") approval.