BOLD Ventures Inc. (TSX VENTURE: BOL) ("Bold") is pleased to announce that they have entered into an option agreement with Noront Resources Ltd. (TSX VENTURE: NOT) ("Noront") pursuant to which Bold Ventures has been granted the option to acquire a 50% legal and beneficial interest in 96 claim units covering approximately 3800 acres on the 'Ring of Fire', McFaulds Lake area, Ontario, approximately 30 km north of Noront's Eagle One Copper, Nickel PGM discovery.

"We are very excited to work on another project with Richard Nemis and Noront," says Gary F. Zak, Director of Bold Ventures. "Richard and I worked extensively together beginning in September 1996 when I managed Alto Ventures Ltd. (ATV) and we optioned Noront's Windfall Lake claim group. During the fall 1997 drill program, we made the Windfall Lake discovery of high-grade gold intersections and subsequently the Noront/Alto joint venture was formed. We look forward to duplicating this winning formula ten years later on the McFaulds Lake 'RING STAR' project now optioned with Noront."

"We believe Noront's Eagle discoveries in the Ring of Fire provide proof for the potential for numerous deposits in the McFaulds Lake district. That area of James Bay Lowlands of Ontario has had a lack of exploration but with the development of modern technology, equipment and easier access, we believe there will be a number of new discoveries. In discussions with IBK Capital, Bill White has indicated that the proposed exploration spending over the next three to five years to be $250 million. Bold is thrilled to be involved with the 20 or so other juniors exploring the Ring of Fire and our partnership with Noront and their world class discovery."

Terms and Conditions of Option Agreement

In order to acquire its interest in the property, Bold is required to:

1. Make an initial payment to Noront of $120,000 or issue to Noront a total of 240,000 common shares of Bold, on both parties receiving all required approvals, including any TSX Venture Exchange approval and board of director approval of the option agreement;

2. Incur total exploration expenditures on the property of $2.1 million over a three year period (of which $600,000 must be expended in the first year);

3. Make total cash payments to Noront of $240,000 within two years of receiving the above-noted approvals of the option agreement (of which $120,000 must be paid by the first anniversary, and any portion of the total of $240,000 may be satisfied at the option of Noront, by the issuance to Noront of up to 400,000 common shares of Bold at a deemed price of $0.50 per share).

Upon Bold earning its 50% interest in the property, Bold and Noront shall form a joint management committee to further develop the property as a joint venture, with Noront continuing to act as the operator.

Subject to TSX Venture Exchange and Board of Directors approval, a finders fee of 200,000 shares is payable in respect to this transaction.

The Ring of Fire - McFaulds Lake area, James Bay Lowlands, Ontario

In September 2007, Noront's first significant discovery, known as Eagle One, yielded some exceptional grades, including 5.90% nickel, 3.10% copper, 2.87 g/t platinum and 9.78 g/t palladium over 68.3 metres (NOT-07-05) as well as 6.30% nickel, 2.80% copper, 1.90 g/t platinum and 10.20 g/t palladium over 46.2 metres (NOT-07-27). Subsequent drilling has continued to intersect high-grade mineralization and just recently, Noront announced the discovery of Eagle Two, a second nickel-copper massive sulphide occurrence situated 2 kilometres southwest of Eagle One.

Bold's property is located approximately 30 kilometres directly north of Noront's Eagle One discovery and covers an 8.4 square kilometre area of the Ring of Fire. The Company's management team is encouraged by the proximity to the Eagle One significant discovery and believes there is potential for this property to also host mineralization. The project is located over a large gravity anomaly which is of sufficiently large size to suggest that it is a mafic/ultramafic body that could be the central intrusive source for the massive nickel/copper mineralization discovered by Noront.

Airborne Geophysical Survey

Noront has advised Bold that a state-of-the-art detailed airborne geophysical survey on the property was recently completed by Aeroquest International Limited and the data is currently being examined by Scott Hogg and Associates. The results of the survey are expected shortly and will be used to outline drill target identification and future work programs.

Results and work plans will be released as they become available.

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 VMS/nickel/copper exploration property through an option agreement with Noront Resources Ltd. in the McFaulds Lake 'Ring of Fire' area of Northern Ontario. By an option agreement dated June 21, 2006 (the "Option Agreement"), the Company has an option to acquire a 100% undivided interest in the Kentucky Lake copper/gold in the Nicola Mining Division, located in British Columbia.

ABOUT NORONT RESOURCES LTD.

Noront is a tier 2 junior resource company involved in the acquisition, exploration and development of properties for the mining of precious and base metals, and is currently active with exploration projects in Canada, Mexico, China and Hungary. Double Eagle Project (Ring of Fire) McFaulds Lake: 100% interest in 34 claims comprising 533 units, encompassing an area of 8,528 hectares (21,320 acres). The Properties are located in the James Bay Lowlands of north central Ontario some 580 km NW from the city of Timmins and 530 km NNE form the city of Thunder Bay. The trading symbol is NOT on the TSX Venture Exchange and has 125,377,082 shares issued to date.

CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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 Ventures Inc., 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 Ventures Inc. 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 Ventures Inc. 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, Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts:
BOLD Ventures Inc.
Gary F. Zak
Director
(604) 630-1162
Email: info@boldventuresinc.com

BOLD Ventures Inc.
Sarah CJ Jones
(604) 630-8261
(604) 630-1153 (FAX)
Email: info@boldventuresinc.com
Website: www.boldventuresinc.com

Source: Marketwire (April 2, 2008 - 9:25 AM EDT)

News by QuoteMedia
www.quotemedia.com