Town of Atikokan, Northwest ONTARIO – 48°76’N 91°63’W
Consisting of two contiguous properties in the McCaul Township, four patented claims and one mineral claim, located approximately 14km east of the Town of Atikokan, Ontario in the Thunder Bay Mining Division.
The agreement provides for an annual payment of $8,000 per year to explore four patented mining claims. At any time the company may exercise the option to purchase these patented claims outright for a cash payment of $100,000. Should this option be taken up the property will be subject to a 2% NSR in favour of the vendor. Half of the NSR (1%) may be purchased by Bold at any time for a cash payment of $500,000. Bold retains a right of first refusal on the remaining 1% NSR.
Should Bold fail to make the optional payments described above then the four patented claims and one contiguous mineral claim, that make up the Wilcorp Gold Project, will be transferred to the vendor of the patented claims. The mineral claim is subject to a 1% NSR in favour of the vendor of that claim.