Bold Ventures Inc. reported that it has signed the formal option agreement to acquire the Burchell Gold-Copper Project. The 265 claim and boundary cell property comprises 12,528 acres (5,070 hectares) located within the Shabandowan Greenstone Belt (SGB) of northwestern Ontario. The SGB lies within the Wawa-Abitibi Terrane, well-known for its mineral endowment.

The Burchell Gold Copper Project (Burchell Property) is located 105 km west of Thunder Bay and is accessible via all-weather roads south from Trans-Canada Highway 11. Bold will have the option to earn a 100% interest over a four-year period by paying the aggregate sum of $500,000 cash, issuing an aggregate of 2,350,000 common shares of Bold and completing a total of $1,500,000 of exploration work on the claims over a four-year period. The Optionors will retain a 3% Net Smelter Royalty (3% NSR) in the property.

Bold has the right to buy back one-half of the 3.0% NSR for $2,000,000 leaving a 1.5% NSR in favour of the Optionors. The transaction is subject to regulatory approval. On closing the transaction ("Closing"), Bold will pay the initial $40,000 in cash and issue 300,000 common shares of Bold to the Optionors.

Numerous gold (Au) and copper (Cu) showings are located along the western portion of the claim group. Previous exploration and mapping by the Ontario Geological Survey recognized northeast trending mineralized corridors hosting this mineralization and extending across the Burchell claims (Osmani 2017) over distances in excess of 2 km. This supports the potential for locating additional mineralization along trend to the east.