Bold Ventures and Gold X2 Sign Letter of Intent for 38 Claim Units at Burchell

Bold Ventures secures C$1.75M plus royalties for 38 claims, retaining major Burchell upside.

What the company is saying

Bold Ventures Inc. announces a binding Letter of Intent with Gold X2 Mining Inc. to sell 38 mining claim units along the Burchell Property's west boundary for C$500,000 cash, 150,000 Gold X2 shares valued at approximately C$1.25 million, and a 2% net smelter return royalty on Canadian Critical Minerals (excluding copper). The company emphasizes the non-dilutive nature of the deal and highlights retained upside through the royalty and ongoing exploration of the remaining 204-claim, 39.4 km2 Burchell Project. Management, led by President and COO Bruce MacLachlan and CEO David Graham, frames the transaction as strengthening Bold's cash position while maintaining exposure to future discoveries. The release details recent exploration success, citing grab samples from the Hermia Pluton area with up to 3,060 ppm (0.3%) Total Rare Earth Oxides. Technical review is confirmed by V.P. Exploration Coleman Robertson, B.Sc., P. Geo., as qualified person for NI 43-101. The company outlines immediate exploration plans focused on the "111 Zone" and Hermia Pluton, positioning the remaining property as underexplored with significant potential.

What the data suggests

The transaction delivers C$500,000 in cash and 150,000 Gold X2 shares valued at approximately C$1.25 million, providing a total upfront consideration of C$1.75 million. Bold will also receive a 2% NSR royalty on all Canadian Critical Minerals (excluding copper) mined from the 38 claims, with Gold X2 retaining the right to buy back 1% for C$1,000,000. The 38 claims, covering 6.5 km2, are subject to an existing 3% NSR royalty, half of which can be purchased for C$2.5 million. Post-transaction, Bold retains a 204-claim, 39.4 km2 land package at Burchell. Recent exploration has yielded grab samples from the Hermia Pluton area with values up to 3,060 ppm (0.3%) TREO, indicating critical mineral potential. The deal is subject to definitive agreements and TSX Venture Exchange approval, so cash and shares are not yet realized. The company provides clear, quantified disclosure of consideration, property size, royalty terms, and recent exploration results, but no resource estimate or production timeline. The structure preserves exposure to future upside while improving liquidity.

Analysis

The announcement is proportionate in tone, providing specific and transparent details about a binding LOI for the sale of 38 mining claims, including cash, share, and royalty consideration. The majority of claims are factual and supported by disclosed transaction terms, property sizes, and recent exploration results. Forward-looking statements are limited to Bold's intended next steps in exploration and the requirement for definitive agreements and regulatory approval, both of which are standard and not overstated. There is no evidence of exaggerated language or inflated projections regarding the transaction's impact; the benefits (cash, shares, royalty) are clearly quantified and expected to be realised upon closing, which is likely within a near-term window. No large capital outlay or speculative long-term benefit is promoted without basis. The only minor inflation is in the positive framing of the transaction's strategic benefits, but this is supported by the disclosed terms.

Risk flags

• ●Transaction completion risk remains, as the deal is contingent on definitive agreements and TSX Venture Exchange approval; failure to close would delay or negate the expected cash and share inflow.
• ●The value of the 150,000 Gold X2 shares is subject to market volatility and may fluctuate before or after closing, affecting the realized benefit to Bold Ventures.
• ●Royalty income is speculative and depends on Gold X2 achieving production of Canadian Critical Minerals (excluding copper) from the 38 claims, which is not assured and may be years away or never realized.
• ●The 38 claims are already subject to a 3% NSR royalty, half of which can be purchased for C$2.5 million, potentially diluting the effective royalty stream available to Bold if exercised by Gold X2 or other parties.
• ●Exploration upside on the remaining Burchell claims is unproven; while recent grab samples are promising, no resource estimate or economic assessment has been disclosed, and future drilling or development may not yield commercial results.

Bottom line

Bold Ventures' binding LOI with Gold X2 Mining Inc. monetizes a portion of the Burchell Property for C$500,000 cash, C$1.25 million in Gold X2 shares, and a 2% NSR royalty, while retaining a large land position and exploration focus. The deal is structured to be non-dilutive and preserves exposure to future mineral discoveries through the royalty and ongoing work on the remaining 204 claims. The transaction is not yet finalized and is subject to standard closing conditions and regulatory approval, so investors should not treat the cash and shares as realized assets until closing. Royalty payments depend on future production, which is uncertain and likely years away. The company provides transparent disclosure of terms and recent exploration results, but the ultimate value of both the royalty and the retained property will depend on future exploration and development success. The most important takeaway is that Bold is improving its liquidity and optionality without sacrificing core exploration potential, but execution and geological risk remain high.

Announcement summary

(TSXV:BOL) (OTCQB:BVLDF) Bold Ventures Inc. has signed a binding Letter of Intent (LOI) with Gold X2 Mining Inc. for Gold X2 to acquire 38 mining claim units along the west boundary of Bold's 242-claim Burchell Property, which adjoins Gold X2's Moss Project. Under the terms of the LOI, Gold X2 will purchase the 38 Claims in exchange for C$500,000 cash, 150,000 common shares of Gold X2 with a nominal value of approximately C$1.25 million based on the closing price on September 18, 2026, and a 2% net smelter return (NSR) royalty on all Canadian Critical Minerals (excluding copper) mined from the subject claims. Gold X2 retains the right to buy back one half of the NSR (1%) for C$1,000,000 cash. The 38 Claims cover approximately 6.5 km2 and are host to historical gold and critical mineral occurrences, as well as anomalous gold and rare earth elements identified during Bold's recent drilling campaign. The 38 Claims are also subject to an existing 3% net smelter return royalty, one half of which can be purchased for C$2.5 million. Following the transaction, the Burchell Project will cover an area of approximately 39.4 km2 comprising 204 mining claim units. The transaction is subject to the execution of definitive agreements with customary conditions, representations, and warranties, as well as approval from the TSX Venture Exchange. Bold's immediate focus at Burchell will be to follow up on anomalous copper, zinc, and gold values encountered at the "111 Zone" and along trend, and to conduct geophysical surveys and prospecting across approximately 4 km of the Hermia Pluton and its southern contact zone to determine drill targets for the next phase. Recent grab samples from the Hermia Pluton area returned values ranging from 32 ppm up to 3,060 ppm (0.3%) Total Rare Earth Oxides (TREO). Bruce MacLachlan, President and COO of Bold, stated that the agreement will strengthen Bold's cash position in a non-dilutive manner while maintaining significant upside through the royalty and continued exploration of the majority of the Burchell claim group. The technical information in the release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., the Company's V.P. Exploration and a qualified person for NI 43-101. Bold Ventures' target commodities include copper, nickel, lead, zinc, gold, silver, platinum, palladium, and chromium.

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