Bold Ventures and Lac des Mille Lacs First Nation Form Strategic Alliance

TORONTO, ONTARIO--(Marketwired - Aug. 1, 2017) - Bold Ventures Inc. (TSX VENTURE:BOL) (the "Company" or "Bold") and Lac des Mille Lacs First Nation ("LDMLFN") are pleased to announce the signing of a Strategic Alliance Agreement that launches the effort to identify business driven, resource related opportunities that are available to First Nations and First Nation partnerships.

The alliance expects to generate a variety of resource related projects ranging from base and precious metals to industrial minerals and materials including infrastructure development. This effort will be a separate division to Bold's core business of exploration for base and precious metals within Canada and will focus initially on the LDMLFN traditional land base.

Lac des Mille Lacs First Nation has initiated a number of resource related projects in various sectors. The partners look forward to expanding the scope of the First Nation's economic and investment activity through the identification and management of a variety of revenue generating opportunities.

Chief White Cloud comments; "Our vision to rebuild a self-sustaining community can only successfully occur as long as the First Nation continues to move forward in economic development. One avenue is through forming partnerships that have the potential to provide for revenue generating opportunities. We very much look forward to a successful and long lasting partnership with Bold Ventures."

Bold Ventures President and CEO Richard Nemis comments that; "Bold is impressed with Lac des Mille Lacs First Nation's business philosophy and demonstrated entrepreneurial approach. While Bold's core business remains unchanged, we see this effort as an activity that is complimentary with our core values, enhances our goal of locating new and important exploration projects and should create revenue for the Lac des Mille Lacs First Nation and our Company."

About Bold

Bold Ventures explores for minerals in Ontario and Québec. The Company continually reviews precious and base metal projects with the goal of discovering economic mineral deposits. The Company's management team has a proven road record of discovery in Ontario and Quebec. In Ontario, Bold and its subsidiary, Rencore Resources Ltd., have extensive holdings comprised of over 18 claim groups in and around the Ring of Fire area of the James Bay Lowlands. The company has also earned a 10% carried interest in the Koper Lake Project centrally located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage (see Bold news release dated October 14, 2016). Bold has the option to earn a 100% interest in the Wilcorp gold property (subject to a 1% NSR) located approximately 14 km east of the town of Atikokan in Northwestern Ontario. In Québec, Bold's primary focus is on its 100% owned Lac Grasset project that straddles the Sunday Lake Deformation Zone in the Matagami area, within the historically prolific Abitibi Greenstone belt of North-western Québec.

For additional information about Bold Ventures and our projects please visit www.boldventuresinc.com.

Richard E. Nemis, President and Chief Executive Officer

David B. Graham, Executive Vice President

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.

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.