Bold Ventures Inc.
TSX VENTURE : BOL

Bold Ventures Inc.

June 24, 2008 09:56 ET

Bold Ventures and Melkior Resources to Become Partners on 'Ring of Fire' Nickel Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) - Bold Ventures Inc. (TSX VENTURE:BOL) ("Bold") is pleased to announce that, upon final approval of the transaction by the TSX Venture Exchange (the "TSX-V"), Melkior Resources Inc. ("Melkior") will own an interest equivalent to 50% of the WEST NICKEL Project located in the McFaulds Lake area 'Ring of Fire' in Ontario. Bold owns the other 50% interest in the WEST NICKEL Project, subject to completion of a $125,000 airborne survey.

Bold previously announced in a news release dated May 6, 2008 that the Company had entered into an agreement (the "Bold Agreement") with a private technical resource group MGN II, the syndicate who organized and conducted the claim staking (the "MGN II Group"), to acquire a 50% interest in the WEST NICKEL property located in the McFaulds Lake area of Ontario known as the 'Ring of Fire'. The West Nickel property consists of approximately 909 claim units totaling 14,544 hectares (36,360 acres) and is located 20 kilometres due north of the Noront Resources Double Eagle Nickel-Copper discovery.

Melkior has recently entered into an agreement (the "Purchase Agreement") to acquire 100% of the MGN II Group interest (50%) in the Bold-MGN II Agreement.

The claim group composing the WEST NICKEL Project covers the majority of a regional gravity anomaly located approximately in the center of the Ring of Fire. This type of anomaly could be caused by a mafic/ultramafic intrusive which could be the source of nickel mineralization in the surrounding Ring of Fire.

Terms of the Agreement - previously announced May 6, 2008

Under the terms of Bold's original WEST NICKEL agreement;

- Bold was required to pay $220,000 (GST included) for staking the 909 claims that encompass the WEST NICKEL Project. Bold has previously paid that amount.

- Bold is also required to spend $125,000 towards the completion of an airborne geophysical survey

Gary F. Zak, President and CEO, stated; "We are extremely pleased to be partnering with Melkior, a respected and dedicated exploration company. I have worked with Melkior's president Jens Hansen over the years and appreciate the technical and exploration skill sets he brings to the venture."

The principal operator of the project will be determined in the near future (subject to the pending Melkior acquisition of the 50% interest of the WEST NICKEL Project). The operator would receive a 10% operating fee. A management committee comprised of four people, two from each company, will oversee the project.

Airborne Geophysics

An airborne program is being organized to fly the WEST NICKEL claim block in the near future.

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

ABOUT BOLD VENTURES INC.

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 a Nickel/Copper exploration property through an option agreement with Noront Resources Ltd. in the McFaulds Lake "Ring of Fire" area of Northern Ontario. 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.

ABOUT MELKIOR RESOURCES INC.

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

CAUTIONARY STATEMENT

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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