Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Bold Ventures Agrees to Option Its Interest in Koper Lake Project
Published : February 04, 2013
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Gold | Nickel |

TORONTO, ONTARIO--(Marketwire - Feb. 4, 2013) - Bold Ventures Inc. (TSX:BOL) ("Bold" or the "Company") announces that it has signed a letter agreement (the "Agreement") with KWG Resources Inc. ("KWG") to option its interests in the Koper Lake Project. Under the terms of the Agreement, Bold will act as Operator of the exploration programs which are to be funded by KWG. KWG will also make the option payments due under the agreement with Fancamp Exploration Ltd. ("Fancamp"). Reference is made to the Press Releases dated May 7, 2012 and January 7, 2013 relating to the Koper Lake Project and the agreement with Fancamp (the "Fancamp Option").

Richard Nemis, President and CEO of Bold stated: "This is a great opportunity for Bold to participate in the Koper Lake Project without having to raise funds and dilute the interests of shareholders. Bold will be paid a management fee as Operator and will maintain control of the programs with input from KWG. We wish to thank the Marten Falls First Nation for its ongoing guidance and co-operation with respect of the proposed exploration program."

2282726 Ontario Limited ("Bold's Co-Venturer"), a subsidiary of Dundee Corporation, signed an Option Agreement with Bold to earn a 33-1/3% interest in Bold's Ring of Fire activities around the area of Bold's Ring of Fire claims in Ontario (the "Bold ROF Project") by funding $2.5 million of exploration work, over $2.0 million of which has been expended to date. Reference is made to Bold's Press Release dated May 31, 2011 for further particulars. Once Bold's Co-Venturer earns its 33-1/3% interest, a joint venture will be formed between Bold's Co-Venturer and Bold giving Bold's Co-Venturer the right to participate for up to 33-1/3% in Bold's ROF Project by funding its portion of the project's budgets. The Koper Lake Project is within the Bold ROF Project.

KWG can acquire an 80% interest in chromite produced from the Koper Lake Project by funding 100% of the costs to a feasibility study leaving Bold and Bold's Co-Venturer with a 20% carried interest, pro rata. For nickel and other non-chromite minerals identified during the exploration programs, the parties have agreed to form a joint venture in which KWG would have a 20% participating interest and Bold and Bold's Co-Venturer would have an 80% participating interest, pro rata. KWG will have a right of first refusal to purchase all ores or concentrates produced by such joint venture whenever its interest in the joint venture exceeds 50%.

The transaction is scheduled to close February 21, 2013. KWG has placed $3,300,000 in escrow pursuant to the Agreement to be released on closing of the transaction. $300,000 will be paid to Bold to reimburse Bold for the first option payment paid to Fancamp pursuant to the Fancamp Option and $3,000,000 will be used for the first exploration program to commence immediately upon closing of the transaction. The program has budgeted $2,000,000 to drill the chromite horizon and an additional $1,000,000 has been budgeted to drill a contiguous possible nickel target.

The Agreement is subject to due diligence and all necessary approvals.

On Behalf of the Board of Directors 

Richard Nemis, President and CEO

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.

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.

Bold Ventures Inc.
Richard Nemis
President and CEO
416 864 1456
416 864 1443 (FAX)
www.boldventuresinc.com
Companies Mentionned : Aura Minerals | Bold Ventures Inc. | Metals X | Reliance |
Data and Statistics for these countries :
Gold and Silver Prices for these countries :

Bold Ventures Inc.

EXPLORATION STAGE
CODE : BOL.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Bold Ventures Inc. is an exploration company based in Canada.

Its main exploration properties are CAUSAS POJECT in Mexico and WEST NICKEL, RING STAR NICKEL and KENTUCKY LAKE in Canada.

Bold Ventures Inc. is listed in Canada. Its market capitalisation is CA$ 3.2 millions as of today (US$ 2.5 millions, € 2.3 millions).

Its stock quote reached its highest recent level on July 27, 2012 at CA$ 0.27, and its lowest recent point on February 13, 2015 at CA$ 0.03.

Bold Ventures Inc. has 80 600 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Bold Ventures Inc.
2008 Annual report
Financings of Bold Ventures Inc.
4/9/2015Announces Brokered Private Placement
12/2/2010Announces $3.75 Million Private Placement
Project news of Bold Ventures Inc.
8/22/2011for Everett Resources
Corporate news of Bold Ventures Inc.
6/29/2015Bold Ventures Inc. Announces Debt Settlement
6/10/2015Bold Ventures Inc. Announces Extension of Brokered Private P...
6/10/2015Lac Surprise 2015 Summer Exploration - 06/10/2015
6/10/2015Bold Ventures and Northern Superior Announce 2015 Summer Exp...
6/2/2015Bold Ventures Mobilizes Field Crew to Lac Grasset Project
5/14/2015Bold Ventures Update
4/22/2015KWG Encouraged By Federal Budget; Delisting From TSX Venture...
4/22/2015KWG Encouraged By Federal Budget Delisting From TSX Venture ...
4/9/2015Bold Ventures Inc. Announces Brokered Private Placement
3/24/2015Continues to Earn-In At Koper Lake - Ring of Fire
3/24/2015Bold Ventures Continues to Earn-In At Koper Lake - Ring of F...
3/17/2015Update Respecting Trading in KWG Shares
2/17/2015Bold Ventures Continues to Advance Lac Surprise Gold Potenti...
12/23/2014Bold Ventures Inc. Announces Closing of Non-Brokered Private...
12/11/2014Bold Ventures and Northern Superior Resources Discover Gold-...
10/29/2014Bold Ventures and Northern Superior Announce Two New Gold Di...
9/30/2014Bold Ventures Acquires Additional Claims at Lac Grasset on t...
8/20/2014Boliden’s Acquisition of Kylylahti Approved
7/24/2014Bold Ventures Stakes Additional Claims And Begins Work At La...
7/18/2014Bold Ventures Inc. Closes Final Tranche of Brokered Private ...
7/11/2014Bold Ventures Inc. Closes First Tranche of Brokered Private ...
6/27/2014Bold Ventures Inc. Increases Brokered Private Placement
6/18/2014Bold Ventures Inc. Amends Terms of Brokered Private Placemen...
6/5/2014Bold Ventures and Northern Superior Sign Formal Option Agree...
6/2/2014Bold Ventures Inc. Announces Brokered Private Placement
5/7/2014Bold Ventures Inc. and KWG Resources Inc.: Drill Program Suc...
3/27/2014Bold Ventures Inc. and KWG Resources Inc.: Black Horse Drill...
10/9/2013Completes Airborne Geophysical Survey and Stakes Claims Prep...
9/12/2013Continues Hunt for Elephants in the Ring of Fire
9/11/2013Comments on KWG "Inferred Resource"
5/31/2013Forest Fire Interrupts Drilling Program
5/15/2013Issues Shares in Lieu of Option Payment and Updates By-Laws
5/6/2013and KWG Update Prior Drill Program Disclosure
5/2/2013JOINT PRESS RELEASE
3/21/2013Pays Finders' Fee in Respect of Ring of Fire Properties & Co...
2/4/2013Agrees to Option Its Interest in Koper Lake Project
1/7/2013Acquires Option to Earn Up to 100% Interest in Koper Lake Pr...
12/7/2012Receives Compilation Reports for Joutel and Lac Agisko Proje...
11/27/2012Identifies Gold and Base Metal Potential on the Lac Blondel ...
11/27/2012Identifies Gold and Base Metal Potential on the Lac Blondel ...
11/15/2012Receives Positive Results from IP Survey Identifies Drill Ta...
10/31/2012Receives Permission From Marten Falls First Nations to Explo...
10/10/2012Receives Assay Results From Ring of Fire Drilling
9/25/2012Completes Summer Drilling in Ring of Fire Area; Closes Priva...
5/31/2011Announces Execution of $2.5 Million Option Agreement With Du...
5/25/2011TFR News Release for May 25 , 2011
4/12/2011Announces $2.5 Million Joint Venture Agreement With Dundee R...
2/15/2011Establishes Advisory Board
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (BOL.V)
0.040+0.00%
TSX-V
CA$ 0.040
07/06 15:42 -
0%
Prev close Open
0.040 0.040
Low High
0.040 0.040
Year l/h YTD var.
0.030 -  0.060 33.33%
52 week l/h 52 week var.
0.030 -  0.070 -33.33%
Volume 1 month var.
205,000 -%
24hGold TrendPower© : 11
Produces
Develops
Explores for Copper - Gold - Nickel - Silver
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 5/26/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
DateVariationHighLow
201533.33%0.040.03
2014-40.00%0.090.03
2013-37.50%0.150.03
2012-20.00%0.270.06
2011-68.75%0.350.09
 
5 years chart
 
3 months chart
 
3 months volume chart