Bold Ventures Signs Memorandum of Understanding With Attawapiskat First Nation, Plans to Drill
TORONTO, ONTARIO -- (Marketwire) -- 04/11/12 -- Bold Ventures Inc. (TSX VENTURE: BOL) ("Bold" or the "Company") is pleased to advise that it has entered into a Memorandum of Understanding ("MOU") with Attawapiskat First Nation ("ATFN") to cover the initial drilling program of its Area 52,53,54 and 56 claim groups located within 100 kilometres of the area dubbed "The Ring of Fire" northern Ontario. The MOU allows for Bold's initial drill program in that area to commence while respecting the environment and the traditional activities of the local people and addresses benefits for the local economy and job creation. The initial diamond drilling program will consist of approximately 2000 metres of NQ sized core drilling.
In late 2010 the Company staked the Area 52, 53, 54 and 56 claims to cover a number of high potential VTEM anomalies. Numerous anomalies were encountered with at least ten that are recommended for follow up drill testing. Three separate VTEM anomalies are favourably compared to the anomaly at Noront Resources Eagle One Ni-Cu-PGM discovery. Mr. Scott Hogg, a consultant and advisor to the Board of Bold concluded in his report dated November 23rd 2010 (which may be accessed by visiting the Company's new web site) that:
"In general, anomalies within the Ring of Fire Area that have a significant time constant have proven to be associated with sulphide mineralization. The Eagle One nickel deposit had an associated time constant of just under 4 milliseconds ("msec"). Anomaly 53-A has a longer time constant of about 4.5 msec and presents an exceptional target from an airborne electromagnetic perspective. This anomaly should be the first priority for drill testing. The conductors 52-A and 52-B that also have time constants of about 4 msec and clearly warrant investigation. These two target areas are strongly recommended for drill testing. There are multiple conductors in this group and each may reflect a different type of mineralization. The anomalies 54-A and B warrant investigation but on a lower priority relative to the other higher conductance anomalies identified. Anomaly 55-A, B and C are recommended for investigation with initial focus directed to the more conductive zone 55-A. Anomaly 55-E is also recommended for follow up investigation. The anomalies 56-A and 56-C are recommended for follow up investigation."
In other news, the Company reports that the recent drill program at REN 8 and Area 55 was completed on schedule. The sampling of NQ drill core from that project has been sent to the laboratory and results are expected shortly.
The technical information in this news release has been reviewed and approved by Dr. James Mungall, Ph.D, P.Geo, Consulting Geologist to Bold and Associate Professor, University of Toronto, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI43-101.
BOLD HAS A NEW WEB SITE!
The Company is also pleased to announce that it has activated a new web site to keep current information available for the investing public. You can visit this site at www.boldventuresinc.com. We urge you to visit our new site and review the projects that we have been acquiring and developing.
For more information, please visit www.boldventuresinc.com.
On behalf of the board of directors of Bold Ventures Inc.
Richard E. Nemis, President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Bold Ventures Inc.
Richard E. Nemis
President and Chief Executive Officer
416-864-1456
www.boldventuresinc.com
