Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

April 16, 2007 09:00 ET

Bard Ventures Ltd.: Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 16, 2007) -

Lone Pine Property (Molybdenum)

Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to announce that after the completion of the recent drilling program a 2.0km x 3.5km geophysical survey grid has been cut and picketed covering the area of wide spaced drilling and high priority target areas. The Company plans to commence Induced Polarization (3-D Inversion) and magnetic surveys in the near future when ground conditions are favorable. The Company has secured a drill contractor for the second phase of diamond drilling which shall commence upon the completion and interpretation of the geophysical surveys. The second phase drill program will test the remaining untested targets as well as any new areas identified by the geophysical survey.

The recent drilling program provided excellent results and confirmed molybdenum mineralization in all the holes over a large area. This included in hole BD-07-02 the entire 489 metres of the hole assaying .07% MoS2 including 231 meters of .093% MoS2 Drillhole BD-07-03 intersected higher grade intervals in excess of 12 meters at 0.27% MoS2. The other high priority area on the property that will be tested in the second phase of diamond drilling is the Granby Zone where in 1976 Granby Mining Corporation drilled 682.8 meters in 12 short percussion holes. This area is located approximately 700 meters to the east of the Quartz Breccia Zone, where a thin cover of biotite hornfels overlays a breccia similar to that found at the Quartz Breccia Zone. Vertical percussion hole number M3 intersected 0.176% MoS2 over 36.6 meters from a downhole depth of 24.4 meters to 61.0 meters (final hole depth) which included a higher grade interval of 0.30% MoS2 over 18.3 meters from 24.4 meters to 42.7 meters (reference Assessment Report #6152). Detailed drill results of Bard's drilling were provided in our news release dated April 4, 2007.

The economics of the project are favorably affected due to the existing infrastructure on the Property of the close proximity of Highway 16, a natural gas pipeline and a major hydro power transmission line and transformer sub-station. The Lone Pine Property is located only 15 km from the CN rail line in Houston, BC.

Bard is earning a 100% interest in the Property under the terms of an option agreement (see News Release dated September 15, 2006).

Wasi Creek Project (Zinc-Lead-Silver)

The Company is planning a 2007 exploration program on its Wasi Creek Property. The Wasi Creek Property is under option from Selkirk Metals Holdings Corp. ("Selkirk"), a wholly owned subsidiary of Selkirk Metals Corp. (TSX VENTURE:SLK).

Bard's diamond drilling completed in 2006 intersected 5.61% zinc, 0.41% lead and 7.2 g/t silver over a width of 1.45 meters from a down hole depth of 196.25 to 197.70 meters in the northern end of the Par Horizon. The estimated true thickness is 1.35 meters. The mineralization consists of honey colored sphalerite, galena and pyrite.

The data will be merged into the Company's database and further work, which may include a ground based gravity survey to locate the source of high grade massive sulphide boulders of which the source has not been discovered, will be planned (refer to News Release dated November 8, 2006).

The Company is funding exploration on the Property under the terms of an option agreement to earn a 50% interest in the Wasi Property with Selkirk being the Operator of the program. The Lone Pine and Wasi exploration work is being conducted under the supervision of Qualified Person Jim Miller-Tait, P. Geo, Vice President of Exploration, Selkirk Metals Corp., and a director of Bard.

Opikeigan Project (Gold - Slam Exploration (TSX VENTURE:SXL) ("SLAM"))

SLAM and Bard are 50:50 joint venture partners in the Opikeigan Lake Gold Property (the "Property") located 10 km northwest of Fort Hope in Ontario. The Property hosts four gold occurrences known as Zone OL12, Zone OL 29, Zone OL41 and the historic Fort Hope Gold Mine. Bard and SLAM are planning to drill a gold-bearing zone known as OL12 which lies at the center of a gold mineralized system on the Property.

Significant drill results from previous operators are summarized in the following table:



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From To Interval Gold
Drill Hole (meters) (meters) (meters) (g/t)
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OL-87-12 155.4 156.9 1.5 28.83
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OL-88-42 191.9 192.7 0.8 10.7
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and 195.9 201.5 5.6 7.3
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including 196.7 198.3 1.6 15.9
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OL-88-44 200.6 202.4 1.8 3.42
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OL-88-46 141.7 148.7 7.0 6.2
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including 141.7 144.7 3.0 12.6
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OL-89-49 22.0 23.5 1.5 4.4
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and 225.8 226.8 1.0 19.9
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The drill hole and assay results in the table above on the Opikeigen Lake Property are from an independent qualifying geological report by Peter E. Fox, Ph.D., P. Eng., dated 15 January, 1999 and revised on 18 October, 1999 entitled "Report on the Opikeigen Lake Project - Fort Hope Area, Ontario".

This data has been reviewed and exploration work is being conducted under the supervision of Qualified Person Derek F. Brown, P.Geo., Exploration Manager of SLAM.

On behalf of:

Bard Ventures Ltd.

Eugene Beukman, President

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 www.sedar.com for further information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of content of this press release.

Contact Information

  • Bard Ventures Ltd.
    Eugene Beukman
    President
    (604) 687-2038
    (604) 687-3141 (FAX)
    Website: www.bardventures.com