Bold Ventures Inc. reported that it has received an interpretive study from SHA Geophysics Inc. covering two historical surveys completed over the western portion of the Burchell Gold-Copper property located in the Shebandowan Belt west of Thunder Bay, Ontario. The 2006 Geotech Ltd. Versatile Time-Domain Electromagnetic (VTEM) survey and a 1991 regional airborne Aerodat Mag-EM (Magnetic-Electromagnetic) survey both indicate the presence of significant conductors recommended for follow-up work. Conductors associated with the Hermia Lake copper showing and the area trending to the northeast, were identified for further study and inclusion with the geological data base.

Having completed a review of the data quality and results of the 2006 survey, an extension of the VTEM survey to the eastern portion of the property, which remains underexplored, is being considered. Evident from the survey is the presence of a structural trend that cuts across the northwest corner of the Burchell property. This structural zone hosts Goldshore Resources' Moss Lake Gold Deposit located immediately west of the claim group, as well as the past-producing North Coldstream Mine and the Osmani Gold Deposit located within 3 km of the Burchell Property's north claim boundary.

This prominent northeast-trending structure strikes across the Burchell Property for a distance of 1.8 km. The Company continues to compile and interpret the historical work in the context of Bold's prospecting, sampling and mapping program carried out last Fall. On February 24, 2023, KWG Resources Ltd. announced the completion of a magnetotelluric survey over portions of the Black Horse Chromite deposit located in the Ring of Fire area of the James Bay Lowlands region of northern Ontario.

Preliminary results of the magnetotelluric survey indicated that the two target areas, one located 1 km northeast of the Black Horse Chromite Deposit and a second area located between 2 and 4 km northeast of the Black Horse Deposit have …. "clearly distinguished the ultramafic host rock, known as the Ring of Fire intrusion, from the enclosing country rock. This permits the results from the two target areas to be interpreted with confidence" (KWG press release dated February 24, 2023).

Bold CEO David Graham commented that "KWG management continues to improve the understanding of the Koper Lake chromite mineralization to the benefit of the Black Horse size and potential." The Black Horse Chromite Deposit is part of the Koper Lake Project where KWG is the Operator of the chromite exploration effort. Bold owns a 10% carried interest (through to production) in the Black Horse Chromite NI 43-101 Inferred Resource of 85.9 Mt grading 34.5% Cr2O3 at a cut-off of 20% Cr2O3 (KWG Resources Inc., NI 43-101 Technical Report, Aubut 2015). Additionally, Bold owns a 40% working interest in all other metals found within the Koper Lake claims and has the right to earn up to an 80% working interest in all other metals.

Bold has the Right of First Refusal on a 1% NSR covering all metals found within the claim group. The Black Horse is contiguous with the Blackbird Chromite deposits owned by Ring of Fire Metals (formerly Noront Resources Inc.). Of additional note, the Koper Lake claims are located approximately 300 m from Ring of Fire Metals' Eagle's Nest Ni-Cu Massive Sulphide Deposit that is in the permit acquisition stage.

Chromite, nickel and copper are critical minerals that will play an important role in the electrification plans of Ontario and North America. The Company is encouraged by these ongoing developments in this emerging critical mineral mining camp. The environmental assessment process for all-weather road access to the Ring of Fire is being developed as three proposed road projects: the Northern Road Link, the Marten Falls Community Access Road and the Webeque Supply Road.

Information and progress regarding these projects may be accessed via the links provided on Bold's critical and battery metals page.