Bold Ventures Receives Assays up to 16.3 gpt Au at its Wilcorp Property

Toronto, October 31, 2024 - Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") announces that it has received assays ranging from <5 ppb Au to 16,300 ppb Au at its Wilcorp Property from a site visit in September of this year, as part of a week-long program of site visits by senior management to the Wilcorp, Burchell and Traxxin properties. These site visits were meant to review access to the properties, re-visit certain important showings and to aid in planning future field programs.

The 16.3 gpt Au sample corresponds to a 10 cm quartz vein in an old pit and stripped area, 35 meters northeast of a 2012 sample which returned 14.4 gpt Au. Additional sampling 100 meters further south yielded gold results up to 892 ppb Au from intermediate schist with quartz-ankerite veining in outcrop, 25 meters west of a 2012 sample which returned 462 ppb Au. An angular boulder of intermediate schist with quartz veining 45 meters east of the 2012 sample returned 110 ppb Au. See Figure 1 for thematic Au results across the property to date, and Table 1 below for sample descriptions and all Au results from the site visit.

Table 1: Grab Sample Au Results from Sept. 2024 Wilcorp Site Visit

Mineralization on the Wilcorp property is generally hosted in quartz-ankerite veining with pyrite, chalcopyrite and arsenopyrite within approximately east-west shear zones. Bold carried out an Induced Polarization (I.P.) survey across the property in 2012, identifying several east-west IP chargeability anomalies (see Figure 1). Limited follow-up prospecting returned values ranging from <5 ppb up to 14.4 gpt Au at historical trenches in the northwest part of the property, where diamond drilling in the 1990s identified a gold-bearing zone which returned 1.8 gpt Au over 7.6 m.

It is unknown whether this zone corresponds to the historical Eagle Prospect (or Agnico Eagle Occurrence), where 36 diamond drill holes were completed in 1946. According to two unpublished historical maps in the Thunder Bay resident geologist files, values of 11.1 gpt Au over 4.1m including 30.8 gpt Au over 0.8m were identified. These values are historically designated and unable to be substantiated.

The next phase of fieldwork will focus on locating historical workings, especially the Eagle Prospect, and prospecting in areas of known gold anomalies and I.P. trends. Trenching, channel sampling and soil sampling programs may be warranted to generate firm targets for diamond drilling. The 2024 Updated Wilcorp Gold Project Details may be accessed here.

Figure 1: Thematic Au Results and I.P. Trends on the Wilcorp Property

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5762/228430_4f2ec33d64ef0af0_001full.jpg

QAQC Protocols

Grab samples were collected, documented and photographed in the field, then placed in sealed bags and delivered to Activation Laboratories (ActLabs) in Thunder Bay, which is an ISO / IEC 17025 accredited laboratory. Grab sample collection is subject to Bold's internal quality assurance / quality control (QAQC) protocols, which include the insertion of blank material and certified reference material into each batch of samples submitted. Samples referenced in this news release were analyzed using ActLabs methods 1A2-50, a 50g fire assay with atomic absorption finish, with over-limit results analyzed using method 1A3-50, a 50g fire assay with gravimetric finish. Samples were also analyzed using ActLabs method UT-6M, a 4-acid near total digestion with ICP-MS / ICP-OES finish, yielding geochemical results for 49 elements.

About the Wilcorp Gold Project

The Wilcorp claim group is located approximately 13 km east of the town of Atikokan, Ontario in McCaul Township, and 17 km south of Agnico Eagle's (AEM.t) Hammond Reef deposit, which contains combined reserves and resources of 5.6 Moz of gold at 0.71 gpt Au (Agnico Eagle website, 2022). The Property consists of 18 staked claims and 4 patented claims covering 264 hectares.

Mineralization in the region is generally related to northeast-trending interpreted splays off the Quetico Fault, a regional transcurrent fault which separates the Wabigoon greenstone belt to the north from the Quetico metasedimentary belt to the south. Known prospects associated with an interpreted splay in the vicinity of the Wilcorp property include the Olcott Prospect and the past producing Sapawe gold mine.

The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., Vice President, Exploration of the Company, a qualified person (QP) for the purposes of NI 43-101.

Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold Critical and Battery Minerals page.

Bold's recently updated Corporate Presentation can be viewed here.

About Bold Ventures Inc.

The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.

For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.

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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228430