Bold Ventures Inc. Announces Option Agreement for Claims in Ring of Fire Region

Bold Ventures Inc. (TSXV:BOL) has signed an option agreement to transfer a 100% interest in two claim groups located in the Ring of Fire region to an arms-length party. The claims cover approximately 2,595 acres (1,050 hectares) and include 90 claim units, which have seen minimal exploration activity.

The agreement involves cash payments totaling C$135,000 and exploration expenditures of C$250,000 over four years. Upon fulfilling the terms, the Optionee will gain a 100% interest, and Bold Ventures will receive a 3% Net Smelter Royalty (NSR). The Optionee can repurchase half of the NSR for C$1.5 million, leaving Bold with a 1.5% NSR.

The schedule of payments starts with C$25,000 upon agreement execution, followed by C$50,000 after six months, and subsequent payments of C$30,000 on each of the third and fourth anniversaries. Exploration expenditures are required to be C$25,000 by the six-month mark, C$25,000 by the second anniversary, and C$200,000 by the fourth anniversary.

Dundee Corporation retains a one-third interest in Bold's holdings in the Ring of Fire under a previous agreement. Bold Ventures' management highlights the potential of their Battery, Critical, and Precious Metals exploration projects in meeting future demand for commodities like Copper, Nickel, Lead, Zinc, Gold, Silver, Platinum, Palladium, and Chromium.