January 15, 2002______________________________________
ADDITIONAL OTISH MOUNTAIN DIAMOND PROPERTY ACQUIRED
Bard Ventures Ltd. (CDNX:CBS) ("Bard") has acquired by staking an additional 34 mineral claim cells (the "Otish 4 Property") covering 1800 hectares in the Otish Mountain region of Quebec. The Otish 4 property, in which Bard owns a 100% interest, lies immediately south of the Otish 3 property acquired previously by Bard (announced December 17, 2001). The two contiguous properties now cover appoximatley 7,000 hectares of highly prospective ground adjoining to the east and up ice from claims held by Ashton Mining. Both Ashton and Majescor have reported a number of kimberlite indicator mineral dispersion trains from their respective reconnaissance sampling programs in the region.
The new Otish 4 property solidifies Bard's position over significant linear magnetic features identified by the regional scale airborne magnetic survey. Regional geological mapping indicates the property overlies sediments and volcaniclastics along a regional fault structure. These features trend southeasterly onto the adjoining Ashton ground. The geological setting at the Otish 3 and 4 properties is similar to that hosting the Beaver Lake kimberlite located 20 kilometres southeast. Ditem Explorations Ltd. has recovered four macro diamonds from a 511 kg sample taken from the Beaver Lake kimberlite body. Ashton recovered 5 macrodiamonds from the Renard 1 kimberlite and 29 macrodiamonds from the nearby Renard 2 kimberlite, located approximately 60 km north of Bard's Otish 3 and 4 properties.
The mineral tenure application and payment for the Otish 4 property have been accepted by the Ministere des Ressources Naturelles, however due to the high volume of applications received, the Ministere will not be able to confirm title for up to 60 days.
Bard is pleased to have the opportunity to participate in this exciting new diamond province in Canada and will immediately initiate exploration of its properties. The Otish Mountains are located approximately 275 km northeast of Chibougamou in north central Quebec.
Bard also wishes to announce that it has agreed to a non-brokered private placement of up to 1,000,000 Units at a price of $0.25 per Unit. Each Unit will consist of one share and one full Share Purchase Warrant to purchase one additional common share exercisable for 18 months at a price of $0.30 per Share Purchase Warrant. The net proceeds of $250,000 will be used to provide Bard with working capital and to fund the exploration programs in the Otish Mountain Region in Quebec. The foregoing private placement is subject to regulatory approval.
On behalf of:
Bard Ventures Ltd.