Bold Ventures Inc.

Bold Ventures Inc.

July 08, 2008 10:15 ET

Bold Ventures Inc.: West Nickel Airborne Survey Starts in James Bay 'Ring of Fire'

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2008) - Bold Ventures Inc. (TSX VENTURE:BOL) ("Bold") is pleased to announce that Melkior Resources Inc., has been advised by Fugro Airborne Surveys Corp. that the Dash-7 aircraft was mobilized to start surveying the Bold-Melkior West Nickel property on July 3. The MEGATEM Geophysical Survey is designed to locate electromagnetic conductors (EM) and magnetic targets that could be associated with accumulations of sulphides derived from ultra-mafic intrusions.

The proof of deep search capability of MEGATEM on Melkior's East Rim property and the timely delivery schedule presented by Fugro has prompted Melkior to contract Fugro to undertake a MEGATEM survey of the Bold-Melkior WEST NICKEL property. This survey work will be operated by Melkior on behalf of Bold Ventures Inc. and Melkior Resources Inc. The property covers 909 claims or 14544 hectares. It is located approximately 20 kilometres north of the important Noront Eagle 1 and Double Eagle nickel discoveries and 20 kilometres southeast of the Metalex-WSR massive sulphide discovery.

A review of technical literature on the deposition of nickel sulphide deposits clearly indicates that significant accumulations will occur within, or on the margins of, large mafic to ultra-mafic intrusive bodies. The high density of these rocks will invariably result in an appreciable gravity anomaly, and therefore nickel sulphide accumulations will be proximal to these anomalies.

The WEST NICKEL property covers the majority of an important gravity anomaly located at the approximate centre of the "Ring of Fire". The ROF wraps around the Bold-Melkior gravity feature.

The airborne survey currently underway will consist of approximately 1440 line kilometres at a cost of $300,000. The data will be available to permit Bold-Melkior to undertake ground follow-up and drilling in the coming months. Upon completion of the airborne survey Bold and Melkior will enter a 50-50 joint venture.

This news release has been read and approved by Jens E. Hansen, P.Eng. a Qualified Person under NI 43-101.


Bold Ventures is a Tier 2 natural resource company on the TSX Venture Exchange, trading symbol BOL, with 11,750,000 shares issued to date. The Company's main emphasis is on two Copper-Nickel exploration properties located in the McFaulds Lake "Ring of Fire" area of Northern Ontario. Bold has an option agreement with Noront Resources to acquire a 50% in the RING STAR NICKEL Project, as well as an option to earn a 50% interest in the WEST NICKEL project with Melkior Resources. Bold has also acquired a 100% undivided in interest in the Kentucky Lake copper/gold exploration property in the Nicola Mining Division, located in British Columbia.


Melkior is a discovery company engaged in the acquisition and exploration of exceptional Canadian mining properties located in Ontario and Quebec.


This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Bold, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and results to differ materially from Bold's plans and expectations as detailed herein and from time to time in the filings made by Bold with the TSX Venture Exchange and securities regulators. Bold does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

On behalf of the board of directors of Bold Ventures Inc.,

Gary F. Zak, President, CEO and Director

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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