Bold Ventures Completes Summer Drilling in Ring of Fire Area; Closes Private Placement
TORONTO, ONTARIO -- (Marketwire) -- 09/25/12 -- Bold Ventures Inc. (TSX VENTURE: BOL) (the "Company") wishes to announce that it has recently completed the summer diamond drilling program in the Ring of Fire area of the James Bay Lowlands. The program entailed 1,616 metres of drilling in 9 holes to test anomalies 52, 53, 54 and 56. Please visit our web site at www.boldventuresinc.com for descriptions of these anomalies. All of the various anomalies have been explained by the drill program and core samples have been sent to the laboratory for analysis.
In other news, the Company wishes to announce the closing of a private placement of 1,125,000 flow-through common shares priced at $0.16 per share for proceeds totaling $180,000. The securities issued are legended and restricted from trading until at least January 26, 2013. The proceeds of this financing will be utilized for the second phase VTEM survey being mobilized to the Company's Quebec properties located in the Abitibi Greenstone Belt of Northwestern Quebec. The intent of this survey is to detail existing airborne anomalies that were located during the 2011 VTEM survey and to extend the coverage over additional claims that were acquired as a result of the 2011 survey and the 2012 data compilation that is nearing completion.
The Quebec project areas comprise four separate claim groups totaling 584 claims comprising approximately 31,653 hectares located in Orvillier, Montgolfier, Grasset, Subercase, Saint Helene, La Gauchetiere, Poirier, Dieppe and Collette Townships.
For details of all of our projects please visit the Bold Ventures Inc. web site at www.boldventuresinc.com.
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
416 864 1443 (FAX)
www.boldventuresinc.com
