Bold Ventures sees second agreement for Ring of Fire

Executive Summary

• Bold Ventures Inc. announced a second landmark agreement regarding the development of access roads to the Ring of Fire critical mineral resources, securing substantial community support and First Nation involvement for future activities in their traditional lands.
• The company holds a 10% carried interest (through to production) in the Black Horse chromite deposit, part of the Koper Lake project, which contains a NI 43-101 inferred resource of 85.9 Mt grading 34.5% Cr2O3.
• Bold maintains a 40% working interest in all other metals within the Koper Lake claims and holds a right of first refusal on a 1% NSR covering all metals found within the claim group.

Key Details

• Road Access Agreements: The release highlights a second major agreement for First Nation involvement in access road development for the Ring of Fire region, providing long-term community support for project developments.
• Black Horse Chromite Deposit:
  • Interest: 10% carried interest (through to production).
  • Resource Estimate: 85.9 Mt grading 34.5% Cr2O3 at a cut-off of 20% Cr2O3.
  • Source: KWG Resources Inc., NI 43-101 technical report, Aubut, 2015.
• Koper Lake Claims:
  • Working Interest: 40% in all other metals found within the claims.
  • NSR: Right of first refusal on a 1% NSR covering all metals found within the claim group.
• Project Contiguity: The Black Horse deposit is contiguous with the Blackbird chromite deposits owned by Ring of Fire Metals (formerly Noront Resources Inc.).
• Proximity to Other Assets: Koper Lake claims are located approximately 300 metres from Ring of Fire Metals' Eagle's Nest nickel-copper massive sulphide deposit, which is currently in the permit acquisition stage.
• Strategic Context: Chromite, nickel, and copper are identified as critical minerals for electrification plans in Ontario and North America.
• Environmental Assessment: The process for all-weather road access is being developed as three proposed projects: Northern Road link, Marten Falls Community Access Road, and Webeque Supply Road.
• Technical Review: Information reviewed and approved by Coleman Robertson, BSc, PGeo, Vice-President of Exploration.

Notable Quotes

• "Bold Ventures Inc. has provided an update regarding a second landmark agreement for development of access roads to the Ring of Fire critical mineral resources... This positive development is welcome as it represents a long-term commitment to the Ring of Fire region, where Bold holds significant interests within the discovery area."
• "The company is encouraged by these continuing developments in this emerging critical mineral mining camp."