McFaulds Lake, Kenora District ONTARIO – 52°46’N 86°03’W
Located approximately 530 km north-northwest of Thunder Bay, the claim groups are situated in and around the area dubbed the Ring of Fire after a series of mineral discoveries commencing in August of 2007. Also registered in Rencore’s name – 30 claims, 450 claim units, 7,200 Ha, 17,792 Acres.
The Bold Ring of Fire Claims are subject to an Option Agreement with a wholly owned subsidiary (2282726 Ontario Ltd.) of Dundee Corporation (“Dundee”) signed on May 31, 2011. Dundee will earn a 33.33% interest in Bold’s Ring of Fire activities (“Bold’s ROF Project”) by funding $2.5 million of exploration work.
Upon completion of this option to earn-in, a joint venture will be formed between Dundee and Bold giving Dundee the right to participate for up to 33.33% in Bold’s ROF Project by funding its portion of the project’s budget (see Bold Press Releases dated April 12, 2011 and May 31, 2011).
2282726 Ontario Limited has earned a 33 and 1/3 % interest in Bold’s Areas 55, 55E, 56 to 72 incl. A draft Joint Venture Agreement has been forwarded for review and execution.