Mr. Richard Nemis reports

BOLD VENTURES MOBILIZES DRILL TO BLACK PHOENIX AT LAC SURPRISE GOLD PROJECT, QUEBEC

Bold Ventures Inc. has mobilized a diamond drill to test several gold targets recently identified from ground IP and magnetic surveys completed over a portion of the Black Phoenix area, Lac Surprise project, Quebec (see Bold/Northern Superior Resources Inc. news release, Oct. 20, 2016). The diamond drill program will consist of four to six holes, or approximately 1,200 metres. The program will commence immediately.

This area of the property is a potential source of gold grains for the easternmost gold grain-in-till dispersal train (one of three defined on the Lac Surprise property), previously reported by Northern Superior (see Northern Superior news release, Jan. 27, 2014). In addition, prospecting west of the drill target area yielded a bedrock grab sample containing 19.9 grams per tonne gold (see Bold/Northern Superior news release, Oct. 29, 2014). The gold grain-in-till dispersal train, bedrock grab sample and two additional gold-grain and one gold geochemical-in-till dispersal trains identified on the Lac Surprise property are all associated with an east-to-west-oriented deformational structure extending east off the Lac Surprise property onto the adjoining Vanstar Mining Resources Inc. property. Vanstar reports elevated gold values in diamond drilling, including a drill intersection of 10.34 metres grading 4.43 grams per tonne gold (see Vanstar news release, June 30, 2016) (1).

The Lac Surprise property is centrally located within a highly prospective area of the Chapais-Chibougamau gold-copper camp, an area currently experiencing aggressive mineral exploration. The Lac Surprise property is strategically located over major regional structures associated with recent gold mineralization discoveries. These discoveries include: a) Geomega Resources Inc.'s Anik gold property, located directly north of and tied onto the Lac Surprise property (see Geomega news releases Feb. 23 and Sept. 28, 2015); b) Vanstar and Iamgold Corp.'s Nelligan property, located directly east of and tied onto the Lac Surprise property (see Vanstar news releases Feb. 23, 2015, and June 30, 2016); and c) Toma Gold and Iamgold's Monster Lake property, located 10 kilometres to the north-northeast of the Lac Surprise property (see Toma Gold news releases Feb. 25, 2015, and June 15, 2016) (1).

In addition, these same structures over which the Lac Surprise property occurs host several gold mines and deposits which include the Lac Short mine and Fenton deposit to the west, the Joe Mann mine and Philibert deposit to the east, and the Chevrier deposit to the northeast.

About Bold

Bold Ventures works in both Ontario and Quebec. In Ontario, Bold and its subsidiary Rencore Resources Ltd. have extensive holdings comprising over 18 claim groups in and around the Ring of Fire area of the James Bay Lowlands. The company has also earned a 10-per-cent 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 Oct. 14, 2016). Bold has the option to earn a 100-per-cent interest in the Wilcorp gold property (subject to a 1-per-cent net smelter return royalty) located approximately 14 km east of the town of Atikokan in Northwestern Ontario.

About Northern Superior

Northern Superior is currently focused on exploring its Croteau Est property in Quebec and its Ti-pa-haa-kaa-ning property in Ontario. Northern Superior also has a number of other 100-per-cent-owned properties in Ontario and Quebec.

The technical information in this news release was reviewed and approved by Tracy Armstrong, PGeo, a qualified person (QP) for the purposes of National Instrument 43-101.

(1) The information regarding adjacent properties has been sourced from the various companies websites. It is not Bold's intention to suggest that mineralization from the adjacent properties will necessarily be found on the Lac Surprise property.

We seek Safe Harbor.