Bold Ventures and Gold X2 Sign Letter of Intent for 38 Claim Units at Burchell

Bold Ventures Inc. (BOL) has signed a binding Letter of Intent to sell 38 mining claim units, covering approximately 6.5 km² along the west boundary of its Burchell Property, to Gold X2 Mining Inc. The transaction structure includes C$500,000 in cash, 150,000 common shares of Gold X2 valued at approximately C$1.25 million based on the Sept 18, 2026 closing price, and a 2% NSR royalty on all Canadian Critical Minerals, excluding copper, mined from the subject claims. Gold X2 holds the right to buy back 1% of the NSR for C$1,000,000 in cash.

The sold claims host historical gold and critical mineral occurrences, including recent TREO anomalies up to 3,060 ppm identified during Bold's drilling. Bold retains ownership of the majority of the Burchell claim group, totaling approximately 39.4 km², and will continue exploration on the 111 Zone and Hermia Pluton. The transaction is subject to customary conditions, including definitive agreements and TSX Venture Exchange approval.

Bold Ventures Inc. (BOL) has secured a deal providing immediate non-dilutive cash of C$500,000 and a royalty stream, a move that strengthens the balance sheet without requiring the issuance of new shares. The transaction aligns with standard junior exploration practices, monetizing peripheral or overlapping claims to fund core drilling programs. The valuation of the Gold X2 shares, approximately C$1.25 million, is based on a third-party closing price, adding tangible value to the consideration.

The agreement includes a 2% NSR royalty, which provides long-term upside if the sold claims are developed, while Bold maintains exploration upside on the remaining 39.4 km². The company states there is no material change to its overall exploration strategy or financial position, characterizing the transaction as a routine capital management move that does not alter the company's risk profile or exploration trajectory.

Bold Ventures Inc. (BOL) is a Canadian mineral exploration company focused on gold, base, and critical metals in Ontario and Quebec. Its flagship projects include Burchell, which targets gold, base metals, and rare earth elements (REEs); Traxxin, known for high-grade gold; Wilcorp, which explores for gold, silver, and copper; and Koper Lake, a chromite project located in the Ring of Fire region. The company’s management team possesses a strong track record, including experience with the Eagle River, Windfall Lake, and Ring of Fire projects. Most of Bold Ventures’ projects are currently in the early-to-mid stage of exploration.