Recently, two competing offers have emerged for control of
'Being located as close to the Eagles Nest and Blackbird deposits as we are, it is encouraging that the value of this emerging multi-metals, district scale, camp is coming back into focus. Having been involved from the outset, our team is quite aware of the potential of the Ring of Fire and that it has been extremely undervalued over the past decade.' commented Bold CEO
The Bold-Fancamp Option Agreement
Bold optioned the Koper Lake claims from
In turn, the Company optioned a portion of its right to earn up to a 100% interest in the Koper Lake claims to
The Bold-KWG Option Agreement
By fulfilling the optional terms of the Bold-Fancamp Option Agreement, KWG has the right to earn up to 80% of Bold's interests in chromite found within the claims, while Bold retains up to a 20% carried interest. Concurrently, KWG has the right to earn up to a 20% working interest in 'all other metals' and Bold will earn up to an 80% working interest in 'all other metals'.
At this time, KWG has fulfilled the terms required for Bold's first 50% earn-in interest and as a result KWG has earned a 40% working interest in chromite and Bold retains a 10% carried interest in chromite. Bold holds a 40% working interest in 'all other metals' and KWG holds a 10% working interest in 'all other metals'. KWG is the Operator of the chromite exploration work.
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About
The Company explores for Gold and Base Metals in
As a result of the current COVID-19 virus concerns, the Company's management and contractors are following public guidelines and taking recommended steps to protect the health and safety of all personnel while carrying out operations. As a result of the COVID-19 pandemic giving rise to local and national anti-virus measures, the scheduling of activities is subject to change. COVID-19 impacts may affect timing and availability of goods and services for the foreseeable future.
Contact:
Tel: 416-864-1456
Email: info@boldventuresinc.com
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