Bard Ventures Ltd.

Bard Ventures Ltd.

November 15, 2010 07:00 ET

Bard Ventures Ltd.: Acquisition of Little Bear Lake Gold Property, Thunder Bay Mining Division, ON

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2010) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS)(FRANKFURT:BVU) has entered into an agreement to acquire a 100% interest in the Little Bear Lake claims (the "Property"), which are approximately 4 kilometers northeast of Schreiber, ON, and are situated in the Thunder Bay Mining Division. The 5 mineral claims that comprise the Property cover an area of approximately 826 hectares.

The Property surrounds a leased claim (not part of the Company's Property) which hosts the Little Bear Occurrence. The occurrence was discovered in 1935 by E. McKenzie while surface prospecting. A 2.4 meter by 1.5 meter shaft was sunk to a depth of 5.5 meters along with trenching and pitting. A one ton bulk sample taken from the occurrence in 1936 was reported to have an average grade of 1,419 g/ton gold. The claims lapsed and were re-staked by J.E. Halonen in 1946. Spectacular samples of quartz containing visible gold and possible tellurides have been taken from the Property.

The Schreiber-Pyramid Occurrence is located to the south of the Property boundary. Historical records state during the 1930's Kenecho Gold Mines evaluated six auriferous quartz veins through trenching and sampling and drove an adit on the #1 Vein. In 1937, 150 tons of ore was milled on site from the #1 Vein at an average grade of 17.6 g/t gold. In 1969 Zenmac Metal Mines Ltd completed a five hole drill program totaling 243m. Best results are reported from a base metal showing located to the north of the Schreiber-Pyramid #1 Vein adit returning 4.6% Cu and 19.2% Zn / 0.55m from the #2 Vein hosted within a chloritic shear zone. In 1984 Corporation Falconbridge Copper acquired the Schreiber Pyramid property for its base metal potential following the discovery of the Winston Lake Zinc deposit. A grab sample taken by Falconbridge on the #2 base metal vein returned 31% Zinc and a one foot channel sample reported 13.77% Zinc. A grab sample from the #1 Vein located above the adit entrance assayed 45.2g/t Au. A new gold discovery is reported 175m to the south of the Little Bear Lake Property boundary where a four meter wide iron formation returned 4.85g/t Au and a quartz vein located immediately south of the Property boundary along a hydro right of way assayed 10.48g/t Au.

The Property is located in Priske Township within the Thunder Bay Mining Division and 4km to the northeast of Schreiber, Ontario. Access to the property is by gravel road and a 4X4 ATV trail. The claims are located in the east-west trending Big Duck-Schreiber Greenstone Belt which is believed to be part of the Abitibi-Wawa Volcanic Sequence. The Property consists of an east–west to northwest trending sequence of basaltic flows and interflow sedimentary stratigraphy comprising graphitic shale, greywacke, sandstone and chert horizons, northwest trending banded oxide iron formations in the southern portions of the claim group can be traced across the width of the Property.

During the summer of 2010, 8.075 line kilometers of gridding was established on the claims to the north of the Schreiber-Pyramid Occurrence over which magnetic and VLF geophysical surveys were completed. A prospecting and sampling program was initiated in August 2010 following up on anomalous magnetic and VLF responses. Of significance is the discovery of a new gold occurrence associated with an intense magnetic response. Prospecting in this area uncovered a smoky banded chert horizon exposed over 6 meters in length. A one meter chip sample across the northern edge of the exposure returned 3.32g/t Au and a 1m chip sample at the southern end of the exposure across a pitted and gossanous calcareous unit returned 2.03g/t Au. A second area of interest is located approximately 580m to the south of the above gold occurrence where a grab sample of smoky banded chert returned elevated and anomalous results to 0.44g/t Au.

In light of the high grade gold, copper, zinc and silver occurrences in this area, coupled with the recent gold discoveries on the Little Bear Lake claims, and it's relatively un-explored history, the Little Bear Lake Property has high potential to host a lode gold or VMS style deposit. Consequently, the Company is planning a dual phase program; the first phase of which is comprised of data compilation, line cutting and a 3D IP geophysical survey planned for the winter in early 2011. After interpretation and integration of all data, and diamond drill targets selection, a Phase II drilling program is planned for the spring/summer of 2011 on the Property.

In terms of the agreement, Bard has to incur the following to earn a 100% interest in the Property, subject to a 2% Net Smelter Return Royalty in favour of the vendors and a 1% Net Smelter Return Royalty in favour of the Ontario Exploration Corporation (OEC).

Due Date Expenditures Cash Payments Share Payments
Within five (5) business days of receipt of regulatory approval - $2,500 100,000
Within ninety (90) business days of receipt of regulatory approval - $2,500 -
On or before Nov 6, 2011 $50,000 $10,000 100,000
On or before Nov 6, 2012 $50,000 $15,000 100,000
On or before Nov 6, 2013 $100,000 $20,000 100,000
On or before Nov 6, 2014 - $25,000 100,000
On or before Nov 6, 2015 $200,000 $25,000 100,000
Total $400,000 $100,000 600,000

All future Exploration work on the Property will be conducted under the supervision of Qualified Person Rick Kemp, P. Geo., Vice-President, Exploration of Bard.

On behalf of:

Bard Ventures Ltd.

Eugene Beukman, President

For further information please visit our website at

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at for further information.

Neither the 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.

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