BOLD VENTURES - Results AGM and Corporate Update

Aug. 7, 2009 (TheNewswire.ca) --

VANCOUVER, BRITISH COLUMBIA (August 6, 2009) - BOLD Ventures (TSXV:BOL) Inc. (TSX.V: BOL)("Bold" or the "Company") and Gary F. Zak announces that its Annual and General Meeting of Shareholders ("AGM") took place on June 24, 2009 and the shareholders approved the re-election of the existing Board of Directors. In addition, shareholders approved all other matters which were submitted with the proxy materials for approval at the AGM, including the 2009 Stock Option Plan and the re-appointment of Vellmer and Chang as auditors of the Company.

The following directors and officers were re-elected to the board for the ensuing year.

• .Gary F. Zak President and CEO
• .Ken Phillippe Director and CFO
• .Jerry Bulman Director
• .William E. Schmidt Director
• .Chad Belenky Director

12-Month Corporate Review and Update

1. Ring Star Nickel Project

The Company has entered into an option agreement with Noront Resources Ltd (TSXV:NOT) ("Noront"), subject to regulatory approval, to acquire a 50% legal and beneficial interest (subject to a 2% NSR) in 96 claim units covering approximately 3800 acres on the "Ring Of Fire", McFaulds Lake area, Ontario.

Bold Ventures has funded two Geophysical airborne programs on this claim group. Firstly an Aerotem geophysical survey was conducted and then secondly a helicopter V-TEM airborne program. The data from the surveys has been received and assessed. Noront and Bold have determined that no drill targets were identified and therefore both companies have determined not to conduct further exploration work on the claims. Noront and Bold have signed a mutual option termination and release with respect to the claim block.

2. West Nickel Project - McFaulds Lake area

The company entered into an agreement to acquire a 50% interest (subject to a 1% NSR) in the West Nickel Property from the MGNII Group, consisting of 909 claims located in the James Bay Lowlands area of Northern Ontario, in exchange for $209,524 (paid) and the undertaking of an airborne geophysical survey on the claims totaling $125,000 (paid). In addition the company agreed to a further expenditure of 25,000 to extend the survey.

Subsequently Melkior Resources Inc. (TSXV:MKR) (‘Melkior") acquired the other 50% interest from the MGNII Group.

Bold and Melkior became 50/50 partners on the West Nickel project. Melkior was appointed as the Operator.

The West Nickel Project consists of 909 claims (14,544 hectares) and is located approximately 20 kilometers north of the massive Noront Resources Double Eagle nickel-copper discoveries and 20 kilometers southeast of the Metalex-WPR sulphides discovery. The claim group composing the West Nickel Project covers the majority of a regional gravity anomaly located approximately in the center of the Ring of Fire. The ROF wraps around the Bold-Melkior gravity feature.

The West Nickel airborne survey was conducted by Fugro Airborne Surveys Corp. and flown with a Dash-7 aircraft.

The Megatem geophysical Survey is designed to locate electromagnetic conductors and magnetic targets that could be associated with accumulations of sulphides derived from ultra-mafic intrusions. The airborne survey covered an area of approximately 1440 line kilometers at a cost of $300,000. The data reviewed has indicated a broad area of structural magnetic features. A ground follow-up program is being planned with the intent to isolate drill targets. Bold is now in discussions with another junior exploration company to farm into the project.

Qualified Person - McFaulds Lake

The qualified person for the purposes of this news release with regards to the McFaulds Lake area is Jens E. Hansen, P. Eng., a Qualified Person under NI 43-101 Technical Report.

3. Passport Metals Inc. (OOTC:IXRFF) /Noront Resources

During the year Bold negotiated an option agreement between Passport Metals Inc. (ppi) and Noront Resources Ltd. for a claim block in the Ring of Fire in Ontario, Bold received 100,000 shares of Passport as compensation for this negotiation.

4. Financing Closed - $420,000

Bold closed a non-brokered private placement, with the Mineral Fields Group, August 14, 2008, in the amount of $420,000 by way of 1,200,000 million flow-through units (each unit consisting of one share and one half warrant) at a price of $0.35 per unit.

5. Utah Potash Prospects

The company has retained Jefferson (Jeff) R. McCleary, M.S., B.S., with over 34 years experience as a geologist with extensive potash expertise in the USA evaporite cycles of the Paradox basin to locate and identify prospective potash solution mining areas in the state of Utah. Most of his work has been on large, multidisciplinary projects that require the integration of numerous datasets in order to achieve success.

The Utah prospect areas selected consist of 10 US-BLM (US Bureau of Land Management) potash exploration permit applications covering approximately 19,000 acres (7680 hectares) of US-BLM federal land in southeast Utah, USA. The two specific Potash prospects are located approximately 18 and 32 miles west of Moab, Utah and located 11 miles west and 30 miles northwest from Intrepid Resource's Cane Creek solution potash mine.

BLM potash exploration permits if granted will provide Bold Ventures exclusive right to explore potash deposits within the permit areas. The application area is located in the large (laterally) Pennsylvanian-age Paradox Sedimentary Basin, which extends from southeast Utah into northwest Colorado. There are 10 known potash salt (KCI) layers ("cycles") in the Paradox Sedimentary Basin. The most important documented potash salt cycle of interest beneath the Utah prospects if potash salt cycle 13.

Potash cycle 13 is thickest and most widely distributed in the northwest part of the Paradox Basin and is believed to possess the greatest laterally continuous thickness of potash in the basin. The depth to the top of cycle 13 varies from 1,500 to 2,000 meters below surface and cycle 5 is about 300-400 meters above (more shallow) cycle 13. Based on historic oil and gas exploration well log data, United States Geological Survey reports written by R.J. Hite in 1976 and 1978 (the "Hite Reports"), plotted a large area of cycle 13 with up to and exceeding 60-foot (~18 meter estimated thickness, representing the thickest laterally continuous and non-structurally thickened potash layer in the Paradox Basin. The potential volume is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The target identified in the Hite Report in Utah is based on historic oil and gas drilling. The drill holes were not cored and mineralogy is based entirely on the interpretation of geophysical logs.

Bold Ventures intends, subject to BLM granting of the permit areas, to conduct a detailed analysis of available historic oil and gas well logs and to drill at least two test/confirmation drill holes to determine the thicknesses and grades of cycle 13 and other layers, including cycles 5 and 9, for potential solution mining with solar evaporation potash recovery.

6. Mexico Gold Silver Project

In April 2009, the Company entered into a Letter of Intent with JK Gold Mexico of Durango, ("JK Gold"), whereby Bold will purchase 50% of Minera el Potrero el lPotrero de Durango ("MEP"), a Mexican mining company incorporated under the Federal Laws of Mexico. MEP is 90% subsidiary of JKGold.

Causas Project - JK Gold - Retraction of Gold Assays Reported

The Company has examined the information provided from JK Gold (Mr. Peter M. Kuhn and Mr. John Jenks, P.Geo. Principals of JK Gold) regarding the alleged high grade assays JK Gold reported to Bold Ventures on the Causas Project located in the state of Durango, Mexico.

Mr. John Jenks, P. Geo. and the Q.P. for the previous Causas news released by the company, has informed Bold that JK Gold was not able to reproduce the high grade assays reported by the company on May 06, 2009 and then again on June 04, 2009.

Bold will not be proceeding with the Causas Project. Bold is in the process of negotiating the return of funds $130,000 USD advanced as loans to JK Gold.

New Projects

The Company continues to review other strategic resource opportunities.

On behalf of the board of directors of Bold Ventures Inc.

"Gary F. Zak"

Gary F. Zak, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Text Box: BOLD Ventures Inc. Jamie HylandCorporate Development(778) 833-1447E: jhyland@boldventuresinc.comW: www.boldventuresinc.com

Text Box: BOLD Ventures Inc. Gary F. ZakPresident, CEO and Director(604) 802-7551 E: gary@boldventuresinc.com W: www.boldventuresinc.comThis press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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