Lithium (Li)

J&B Lithium Project

The J&B Lithium project consists of two separate claim groups located within the Georgia Lake Area Pegmatite field. The Jean Claim Group consists of 127 claims covering an area of approximately 2,223 hectares (5,494 acres) and the Barbara Claim Group consists of 40 claims covering an area of approximately 832 hectares (2,057 acres). (See figure 1 in the Maps and Charts section)

With ready access and infrastructure close by, the J&B Project is located approximately 145 km northeast of the city of Thunder Bay and 9 km due east of Highway 11 near Beardmore, Ontario.

The J&B property lies within the northern portion of the Quetico Subprovince (in the Superior Province of the Canadian Shield) near the southwest contact of the Beardmore-Geraldton Greenstone Belt. Spodumene-bearing dikes were first discovered and explored for in this area from 1955 to 1958. Numerous lithium occurrences and prospects were uncovered during this period. However, since this initial exploration activity and government mapping in the second half of the 1950s, only a very limited amount of reconnaissance prospecting has been conducted over these properties.

Detailed prospecting and diamond drilling completed by Rock Tech Lithium Inc. (Rock Tech), Infinity Lithium Corporation and Ultra Lithium Inc. (See figures 1-3 in the Maps and Charts section), on several of their properties in the Georgia Lake area has lead to the discovery of undocumented lithium-bearing pegmatite dikes.

Rock Tech has been active in this region since 2010 and has completed over 12,100 m of diamond drilling. This work has lead to the discovery of a NI 43-101 resource consisting of 1.89 Mt grading 1.04% Li2O (measured), 4.68 Mt grading 1.00% Li2O (Indicated) and an Inferred resource of 6.72 Mt grading 1.16% Li2O on the Nama Creek Zone (See Rock Tech’s news release dated August 2, 2018). This resource is located 7 km northwest of Bold’s Jean claim group.

Two diamond drill holes completed by Rock Tech in 2011 intersected the No.4 Dike on the eastern side of the Parole Lake patented claims. Hole PL-11-01 and PL-11-02 were located approximately 250 and 300 m respectively from the boundary with Bold’s newly acquired claims (See figure 3 in the Maps and Charts section). Hole PL-11-01 returned 7.29 m @ 1.76% Li2O (including 5.15 m of 2.29% Li2O) and Hole PL-11-02 returned 5.41 m @ 1.25% Li2O (including 3.0 m @ 1.77% Li2O). Reference: Caracle Creek International Consulting Inc., Author Adrian Peshkepia, M.Sc., P. Geo., Drill Report For 2010-2011 Winter Drilling Program, June 14, 2011, prepared for Rock Tech Lithium Inc.

Management believes that the No.4 Dike described in the historical work referenced above, within the Parole Lake patented ground, remains open along strike to the east. (See figure 3 in the Maps and Charts section).

Bold management regards the Georgia Lake Pegmatite field as a fertile, lithium bearing area with the potential to reach a critical mass of economic proportions.

The technical information in this description was reviewed and approved by Gerald D. White, B.Sc., P. Geo., a qualified person (QP) for the purposes of NI 43-101.