Bold Ventures Inc. (TSXV: BOL) (OTCQB: BVLDF) has signed a Property Purchase Agreement dated October 30, 2026, with Gold X2 Mining Inc. for the sale of 42 mining claim units along the western boundary of its Burchell Property in Ontario. The deal expands on a previously announced letter of intent from September 21, 2026, adding four additional contiguous claim units to the original 38. Consideration includes C$500,000 in cash, 150,000 common shares of Gold X2, and a 2% net smelter return royalty on Canadian Critical Minerals, and the transaction remains subject to TSX Venture Exchange approval.

Key Points

  • Bold Ventures Inc. (TSXV: BOL / OTCQB: BVLDF) announced the definitive property sale agreement on November 2, 2026.
  • Gold X2 Mining Inc. will acquire 42 claim units adjoining its Moss Project along the west boundary of Bold's 242-claim Burchell Property.
  • Consideration: C$500,000 cash, 150,000 Gold X2 common shares, and a 2% NSR royalty on Canadian Critical Minerals (excluding copper), with Gold X2 holding a buyback right on half the royalty for C$1,000,000.
  • Investors should watch for TSX Venture Exchange approval, which is required before the transaction can close.

Transaction Terms and Royalty Structure at Burchell

Under the Property Purchase Agreement, Gold X2 will pay C$500,000 in cash and issue 150,000 of its common shares to Bold Ventures in exchange for the 42 claim units. Additionally, Bold retains a 2% net smelter return royalty on all Canadian Critical Minerals — excluding copper — produced from the subject claims. Gold X2 has the right to repurchase one half of that royalty, representing 1%, for C$1,000,000 in cash, providing the acquirer with a mechanism to reduce its long-term royalty obligations should the claims prove productive.

Expansion From the Original Letter of Intent

The agreement builds on Bold Ventures' September 21, 2026 letter of intent, which initially covered 38 claim units. The finalised Property Purchase Agreement dated October 30, 2026 incorporates four additional mining claim units contiguous to the original block, bringing the total to 42 claims. The 42 units sit along the west boundary of Bold's broader 242-claim Burchell Property and directly adjoin Gold X2's existing Moss Project, a geographic alignment the company's disclosure suggests was a key factor in the arrangement.

Bold's Continued Exploration Focus at Burchell

President and COO Bruce MacLachlan stated in the release that Bold is pleased to reach a mutually beneficial agreement and looks forward to advancing exploration at Burchell, where the company holds gold, zinc, copper, and rare earth element showings. Bold Ventures operates exploration projects in the Thunder Bay and Wawa regions of Ontario and holds assets in the Ring of Fire region of the James Bay Lowlands. The company's stated focus spans battery, critical, and precious metals including copper, nickel, lead, zinc, gold, silver, platinum, palladium, and chromium.