Bold Ventures stakes claims near Springpole Project, Ontario

Bold Ventures Inc. [TSXV: BOL] has staked 208 single cell claims covering 4,180 hectares. The property, named the Springpole East Gold Project, is located 120 km east-northeast of the town of Red Lake, northwest Ontario, and 9 km east of the Springpole Gold Deposit of First Mining Gold Corp. [TSX: FF; OTCQX: FFMGF; FSE: FMG] which contains a resource of 4.6 Moz Au at 0.94 g/t gold in the Indicated Mineral Resource category and 0.3 Moz gold at 0.54 g/t Au in the Inferred Mineral Resources category.

Additionally, the Canamer or Birch Lake East Occurrence is located approximately 1.3 km west of the property boundary, where First Mining obtained a result of 15.3 g/t Au from a grab sample in 2022. The showing is hosted in banded iron formation, a rock type which has been mapped in the northwest part of the Springpole East Property, corresponding to prominent magnetic anomalies.

The property area was most recently explored in 2022 by GoldON Resources Ltd. which carried out a high-resolution airborne magnetic survey as well as prospecting programs, resulting in the discovery of angular boulders of altered granitic rock returning from 191 to 1,270 ppb Au. From an historical perspective the property area has seen very little systematic exploration work.

The company granted 2,200,000 options to Bold’s Management. Directors, Consultants and Advisors. The options will expire in five years and have an exercise price of 7 cents ($0.07) representing a 40% premium to the closing price of the company’s common shares on January 22, 2025. These newly issued options bring the total issued to 74% of the available options under the company’s stock option plan.