Welcome!

News Feed Item

Bold Ventures Signs Letter of Intent With Northern Superior to Option the Lac Surprise Project in Northern Quebec

TORONTO, ONTARIO -- (Marketwired) -- 02/27/14 -- Bold Ventures Inc. (TSX VENTURE:BOL) (the "Company" or "Bold") and Northern Superior Resources Inc. (TSX VENTURE:SUP) (Northern Superior) are pleased to announce the signing of a Letter of Intent whereby Bold will have the option to earn up to a 60% interest in Northern Superior's 100% owned Lac Surprise property.

This large property is located approximately 50 Km south of Chapais and within the historic Chibougamau - Chapais gold camp in west central Quebec and is comprised of 365 claims totaling 20,352 hectares or 50,269 acres.

Bold can earn a 50% working interest in the property by spending an aggregate of $2,000,000 of exploration work on the property and paying to Northern Superior a total of 350,000 common shares of Bold all over a three year period. 50,000 common shares are due on signing. The first year optional commitment is $500,000 in exploration expenditures and 50,000 common shares of Bold. The second year optional commitment is 100,000 common shares of Bold and $500,000 in exploration work. The third year optional commitment calls for $1,000,000 in exploration work on the property and a payment of 150,000 common shares of Bold.

Bold will also hold the option to earn an additional 10% in the project by delivering a positive feasibility study within five years from the date of execution of the formal option agreement. If Bold takes up all parts of the option it will have earned a 60% interest in the property.

Recently, renewed exploration activity in the area has yielded several new gold discoveries made by Toma Gold/Iamgold (at Monster Lake); Vanstar (at Nelligan) and Soquem (at MOP II). All three of these companies have announced plans for major, multimillion dollar drilling programs.

Dr. T. F. Morris, President and CEO of Northern Superior, was quoted in a January 27, 2014 Marketwired news release that "the potential value of the Company's Lac Surprise gold property has only been exemplified by the recent discoveries and exploration activity directly to the east of the Lac Surprise property. Four of the six gold exploration targets are clearly defined by anomalous and robust overburden gold grain and geochemical-in-till anomalies extending down-ice from the Opawica-Guercheville Deformation Zone (OGDZ) representing high priority targets areas. There is excellent potential for the definition of additional targets along the OGDZ structure which extends 11 km across the Lac Surprise property and is largely unexplored."

The OGDZ is associated with several gold occurrences such as Philbert, Meston Lake and Fenton as well as the past producing Joe Mann mine, the Lac Shortt mine and the producing Bachelor Lake mine.

Vanstar Mining Resources Inc. has recently announced the results of three diamond drill holes from its flagship Nelligan project (see Vanstar Resources Inc. news release dated December 18, 2013 at www.vanstarmining.com). This new gold discovery is situated directly east of the Lac Surprise property.

Recent work by Northern Superior has identified a number of high priority, drill ready, gold targets that have been identified by till sampling, geochemical programs as well as airborne and ground geophysical surveys (maps and technical descriptions may be viewed now at www.nsuperior.com).

This option agreement is subject to regulatory approval and a thirty day due diligence period. Upon execution of the formal option agreement a finder's fee will be paid to an arm's length, third party.

Bold Ventures Inc. President and CEO Richard Nemis states: "I believe that this area will increasingly become the focus of intense exploration as a re-emerging gold camp. We are happy to team up with Northern Superior and Tom Morris on such a worthwhile and exciting project."

New maps and descriptions describing this project will be posted on our website at www.boldventuresinc.com in the coming days.

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Quebec.

Richard E. Nemis, President and Chief Executive Officer

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.

Cautionary Note Regarding 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.

Contacts:
Bold Ventures Inc.
416-864-1456
www.boldventuresinc.com

Contacts:
Northern Superior Resources Inc.
Thomas F. Morris, PGeo., PhD., FGAC, ICD.D
President and CEO
(705) 525-0992
(705) 525-7701 (FAX)
[email protected]
www.nsuperior.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
"DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at @DevOpsSUMMIT and CloudEXPO tell the world how they can leverage this emerging disruptive trend."
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes how...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and Bi...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
Serveless Architectures brings the ability to independently scale, deploy and heal based on workloads and move away from monolithic designs. From the front-end, middle-ware and back-end layers, serverless workloads potentially have a larger security risk surface due to the many moving pieces. This talk will focus on key areas to consider for securing end to end, from dev to prod. We will discuss patterns for end to end TLS, session management, scaling to absorb attacks and mitigation techniques.
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Contextual Analytics of various threat data provides a deeper understanding of a given threat and enables identification of unknown threat vectors. In his session at @ThingsExpo, David Dufour, Head of Security Architecture, IoT, Webroot, Inc., discussed how through the use of Big Data analytics and deep data correlation across different threat types, it is possible to gain a better understanding of where, how and to what level of danger a malicious actor poses to an organization, and to determin...