TORONTO, ONTARIO--(Marketwired - Aug. 22, 2017) - Bold Ventures Inc. (TSX VENTURE:BOL) ("Bold" or the "Company") is pleased to report that the Ontario Government has announced its support for the planning and construction of an all-season road accessing First Nation communities and the Ring of Fire development area. Bold Ventures has a number of projects in and around the Ring of Fire. (for additional information about Bold and our exploration projects visit www.boldventuresinc.com).
Bold management believes that this crucial step in developing the access infrastructure for this future multi-metals mining district will support a generational-level economic development for local communities, industry and government. It will provide positive input for the economic feasibility of resource projects in this area. The news release stated:
From the Ontario News Room, August 21, 2017
Province Supporting First Nations Proposal to Build All-Season Access Road
Ontario is taking an important next step toward developing the Ring of Fire, working with Webequie, Marten Falls and Nibinamik First Nations to plan and construct a year-round access road into the proposed mining development site being pursued by Noront Resources Ltd. As part of this project, the province is also working with First Nations to build all-season access roads to their communities.
Premier Kathleen Wynne was in Thunder Bay today with the Minister of Northern Development and Mines, Michael Gravelle, to announce that Ontario will support First Nations to plan and construct an east-west road connecting the Webequie and Nibinamik communities to the provincial highway network north of Pickle Lake. This project would provide all-season access to both First Nations communities as well as into the Ring of Fire development.
The province is also supporting Marten Falls First Nation to plan and construct an access road connecting the community to the existing provincial highway network at Aroland/Nakina.
Communities are working to begin environmental assessments of these projects by January 2018 and plan to begin construction in 2019, pending all necessary approvals.
As a next phase, Ontario will continue to support Marten Falls to undertake further technical and environmental studies that could inform planning and development of a north-south access road tied to the development of, and business case for, chromite mining in the Ring of Fire.
Building these roads is a critical step in realizing the economic benefits of one of the biggest mineral-development opportunities in Ontario in almost a century. Funding for these roads is part of the government's commitment to invest $1 billion in Ring of Fire infrastructure to create jobs, provide long-term benefits and improve quality of life for people in the region.
Ontario is working to support these First Nations as they address all regulatory requirements so that this unique environment is protected.
The province welcomes this merging of cultural considerations with regulatory requirements and will ensure First Nations and their perspectives, including traditional knowledge, are carefully considered in decision-making.
Investing in the development of the Ring of Fire while ensuring that First Nations participate in and benefit from this development is part of our plan to create jobs, grow our economy and help people in their everyday lives.
About Bold Ventures Inc.
The Company explores for minerals in Ontario and Québec. In Ontario, Bold and its subsidiary Rencore Resources Ltd. have extensive holdings comprised of over 18 claim groups in and around the Ring of Fire area of the James Bay Lowlands. The company has also earned a 10% carried interest in the Koper Lake Project centrally located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage (see Bold news release dated October 14, 2016). Bold has the option to earn a 100% interest in the Wilcorp gold property (subject to a 1% NSR) located approximately 14 km east of the town of Atikokan in Northwestern Ontario. In Québec, Bold's primary focus is on its 100% owned Lac Grasset project that straddles the Sunday Lake Deformation Zone in the Matagami area, within the historically prolific Abitibi Greenstone belt of North-western Québec. Balmoral Resources Ltd. has seen success over the past few years in locating and expanding several gold and base metal discoveries proximal to the Sunday Lake Deformation Zone and has expanded its land position to surround Bold's property (see Bold news release dated September 30, 2014).
For additional information please visit the Bold Ventures Inc. website at www.boldventuresinc.com.
