Bold Ventures Inc.

Bold Ventures Inc.

November 23, 2010 11:29 ET

Bold Ventures Inc. Completes VTEM Electromagnetic Airborne Survey and Stakes Claims

TORONTO, ONTARIO--(Marketwire - Nov. 23, 2010) - Bold Ventures Inc. (TSX VENTURE:BOL) ("Bold" or the "Company") wish to announce that Bold has staked or acquired a 100% interest in 48 claims totalling approximately 727 units and comprising an area of approximately 11,632 hectares (28,820 acres). All of these claims are located within 100 km of the Ring of Fire area of the James Bay Lowlands. Combined with Bold's existing West Nickel Project in the centre of the Ring of Fire, Bold has interests in approximately 173 claims totalling 1,636 units comprising an area of approximately 14,544 hectares (36,100 acres) in and around the Ring of Fire. Approximately 215 claim units of this acquisition program were staked as a result of Bold's recent VTEM airborne survey, described below. 

Since October 2010 Bold has completed approximately 1475 km of VTEM system airborne surveys over seven selected blocks, all within 100 km of the Ring of Fire area in the James Bay Lowlands. Of the six areas that were surveyed, four of those areas were found to have significant airborne anomalies and resulted in 15 claims being staked comprising a total of approximately 215 units and an area of approximately 3,440 hectares (8,531 acres). Area 50 and Area 51, acquired in August of this year (see press release dated August 23, 2010), were part of the survey and did not produce any significant anomalies in the preliminary data set.

Recent interpretation of the preliminary VTEM data set by Scott Hogg & Associates, geophysical consultants, indicates that drill testing of as many as ten targets within these four blocks named Areas 52, 53, 54 and 56 is warranted. An additional area named Area 55 has not been surveyed at this time and any results obtained from that survey will be announced upon its completion.

Current Bold management and its team of consultants have had valuable and productive experience in the Ring of Fire. During their previous involvement with Noront Resources Ltd. in 2007, they were responsible for the Eagle One, Eagle Two and AT12 magmatic massive sulphide discoveries as well as the Blackbird high-grade chromite resources and the Thunderbird vanadium showing, all located within the Noront Resources claims in the Ring of Fire area of the James Bay Lowlands, Ontario.

On Behalf of the Board of Directors

Richard Nemis, President and CEO

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