Bold Ventures Amends Burchell Gold and Copper Project Agreement

By Kevin Vincent

Bold Ventures Inc. has announced the signing of a fourth amendment to its Burchell Gold and Copper Project Option Agreement. This amendment adjusts the terms for exercising the option, reducing cash payment and exploration expenditure requirements while introducing a revised schedule of obligations.

“The Burchell Fourth Amendment reflects a collaborative approach with the Vendors to streamline exploration efforts and align commitments with achievable milestones,” said Wes Hanson, President and CEO of Bold Ventures.

Revised Option Terms

The amended agreement allows Bold to exercise its option by:

• Issuing an aggregate of 2,600,000 shares (up from 1,000,000 shares already issued).

• Paying $100,000 in cash (reduced from $500,000), with $40,000 already paid.

• Committing $700,000 to exploration (reduced from $1,500,000), with no expenditures made to date.

New Payment and Exploration Schedule

• Cash Payments:

• $10,000 by August 31, 2025.

• $15,000 by August 31, 2026.

• $25,000 by August 31, 2027.

• Share Issuances:

• 250,000 shares by August 31, 2025.

• 400,000 shares by August 31, 2026.

• 750,000 shares by August 31, 2027.

• Exploration Work:

• $125,000 by August 31, 2025.

• $300,000 cumulatively by August 31, 2026.

• $700,000 cumulatively by August 31, 2027.

Royalty and Resource Incentives

The Vendors retain a 3% Net Smelter Royalty (NSR), with Bold holding the right to buy back 1.5% for $2.5 million (increased from $2 million). The company also has a right of first refusal on the remaining 1.5% NSR.

Additionally, milestone payments are tied to National Instrument 43-101-compliant reports:

• $150,000 if the resource reaches at least 250,000 ounces of gold or equivalent.

• $250,000 if the resource reaches 500,000 ounces of gold or equivalent.

Strategic Focus

Bold Ventures continues to prioritize its portfolio of exploration projects across the Thunder Bay, Wawa, and Ring of Fire regions. The Burchell Gold and Copper Project aligns with the company’s emphasis on battery, critical, and precious metals, including copper, nickel, gold, and platinum group elements.

Pending regulatory approval from the TSX Venture Exchange, this amendment reinforces Bold’s commitment to advancing its exploration strategy while optimizing shareholder value.

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