Traxxin Gold Project

Gold (Au)

Traxxin Gold Project

The Traxxin Gold Project is located to the south and contiguous with the Traxxin Extension Gold Project claims, held 50% by Bold and 50% by Lac des Milles Lacs First Nation (“LdMLFN”). Bold is the Operator of the Joint Venture.

LdMLFN and Bold (“the Optionee”) have the option to earn a 100% interest over a three-year period by paying the aggregate sum of $150,000 cash, issuing an aggregate of 1,000,000 common shares of Bold and completing a total of $250,000 of exploration work on the claims over a three year period. On signing of the formal Option Agreement a payment of $20,000 cash and 200,000 common shares will be paid to the vendor. The vendor will retain a 2% Net Smelter Royalty (NSR) of which the Optionee has the right to purchase a 1% NSR for $1 million leaving a 1% NSR in favour of the vendor. The transaction is subject to TSX Venture Exchange (“TSXV”) approval and the execution of the formal Option Agreement and financing.

Traxxin Gold Project Highlights

The claims host a well-defined gold-bearing structure along a northeast splay of the Quetico Fault.

Recent trenching and diamond drilling (2018) have identified a gold-bearing zone of at least 300 m in strike length associated with a well-defined sheared quartz vein surface exposure from 15 to 30 m wide.

Diamond drilling results include 4.76 g/t Au over 3.8 m (Hole BED-17-016) and 1.06 g/t Au over 22.2 M (Hole BED-17-005) and 37.3 g/t Au over 1.0m (Hole BED-17- 003) (Sims 2019).

The gold bearing horizon is open along strike in both directions. The 2017 and 2018 diamond drilling was near surface and tested above 100m. One hole (BED-17-022) in the central part of the zone did penetrate to almost 150m and intercepted the zone where it remains open at depth.

The main zone discovered in 2017 is located in the Marmion Lake Batholith, host to the Agnico Eagle’s Hammond Reef deposit of 5.31 Moz Au, which includes a Measured Resource of 75.3 Mt @ 0.75 g/t Au for 4.25 Moz and an Inferred Resource of 54.1 Mt @ 0.61 g/t Au for 1.06 Moz (Puumala 2020). ^{The mineralization and resources hosted on the above property is not necessarily indicative of the mineralization, if any, hosted on the Company’s property}.

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

Traxxin Gold Project

The Traxxin Gold Property consists of 151 cells/boundary cells that total approximately 2,224 ha or 5,497 acres. For a summary of geology and historical work see the Traxxin Gold review (June 2020).