Bold Ventures Announces Final Closing of Non-Brokered Private Placement

Not for distribution to U.S. Newswire Services or for dissemination in the United States

Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") is pleased to announce that it has closed the final tranche of its non-brokered private placement, announced in its July 31, 2020 Press Release (the "Offering"), and raised a further $60,050 through the issuance of 700,000 working capital units ("WC Units") and 334,000 flow-through units ("FT Units

Each WC Unit is priced at $0.05 and comprises one (1) common share of the Company priced at $0.05 and one (1) common share purchase warrant (each a "WC Warrant"), with each WC Warrant entitling the holder to acquire one (1) common share at a price of $0.10 until September 29, 2022.

Each FT Unit comprises one (1) common share of the Company and one-half (½) of one (1) common share purchase warrant. Each full warrant (a "Warrant") entitles the holder to acquire one (1) common share at a price of $0.10 until September 29, 2022.

All securities issued pursuant to the final closing are subject to a hold period expiring on January 30, 2021.

The Company raised gross proceeds of $436,075 through the placement of 5,600,000 WC Units and 2,081,000 FT Units pursuant to the Offering.

Please visit the Bold website at www.boldventuresinc.com and see our recent news and project information.

About Bold Ventures Inc.

The Company explores for Gold and Base metals in Canada. Bold is exploring properties located within active gold camps of Northwestern Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.

For additional information about Bold Ventures and our projects please visit www.boldventuresinc.com or contact Bold Ventures Inc. at 416-864-1456.

"David B Graham"
David Graham
President and CEO

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.

SOURCE:Bold Ventures Inc.