December 17, 2001______________________________________
STRATEGIC QUEBEC DIAMOND PLAY ACQUISITION
Bard Ventures Ltd. (CDNX:CBS) ("Bard") is pleased to announce the acquisition of two blocks of claims in the Otish Mountain region of Quebec where Ashton Mining has recently announced the discovery of two diamondiferous kimberlites (ACA news release Dec. 17, 2001). The Renard 1 kimberlite returned 54 microdiamonds and 5 macrodiamonds from a 205.8 kg drill core sample, while the Renard 2 kimberlite returned 116 microdiamonds and 29 macrodiamonds from a 163.1 kg drill core sample. Five of the macros from the Renard 2 kimberlite measured greater than .5 mm in two directions with the largest stone measuring 1.63 x 1.58 x .53 mm.
The Otish 3 claim block, located approximately 60 km south of the Ashton kimberlite discoveries, covers the intersection of significant northeast and northwest trending structures identified by aeromagnetic responses. The Otish 3 claim block consists of 93 mineral claims covering 12,143 acres in north central Quebec. The Otish 6 claim block is located 75 km south of the recent diamond discoveries and adjacent to Ashton's southern claim block. The Otish 6 claim block consists of 82 mineral claims covering 11,000 acres over a strong northeast trending structure. Both Ashton and Majescor have reported a number of kimberlite indicator mineral dispersion trains from their respective reconnaissance sampling programs in the region of the Otish 3 and 6 properties.
Under the terms of the agreement, Bard acquires 100% interest in the Otish 3 and Otish 6 claim blocks from the Otish Mountain Syndicate by making cash payments of $15,000 and issuing 100,000 shares for each claim block. The properties are subject to a 2% net smelter royalty and a 2% gross over-riding royalty. A $10,000 advanced royalty payment is due annually for each property, commencing December 31, 2002.
Bard is pleased to have the opportunity to participate in this exciting new diamond province in Canada. The Otish Mountains are located approximately 275 km northeast of Chibougamou in north central Quebec and are easily accessed by the abandoned Eastmain Mine access road.
The above transactions are subject to regulatory approval.
On behalf of:
Bard Ventures Ltd.