January 24, 2002______________________________________
BARD ACQUIRES TWO ADDITIONAL PROPERTIES
OTISH MOUNTAIN REGION, QUEBEC
COMMISSIONED AIRBORNE MAGNETIC SURVEY
Bard Ventures Ltd. ("Bard") is pleased to announce the acquisition of an additional two properties in the newly developing Otish Mountain diamond district of north central Quebec. The Lac Comeau and Lac Cabat properties cover prominent linear breaks cutting the Timiscamie-Corvette structural corridor. This geologic setting is host to diamond bearing kimberlites, most notably at the Beaver Lake kimberlite located 45 kilometers west of the properties and the recent Renard kimberlite discovery by Ashton Mining Canada Inc. Majescor and Canabrava are actively exploring the intervening ground between the Lac Comeau/Lac Cabat properties and the Beaver Lake kimberlite. Several kimberlite indicator mineral trains have previously been reported throughout the area by Majescor, providing further indication of the prospectivity of this region.
The Lac Comeau property (Otish 11 claim block) consists of a total of 79 contiguous mineral claim cells covering an estimated 4215 hectares. The Lac Cabat property (Otish 13 claim block) also consists of 79 contiguous mineral claim cells covering an approximate 4210 hectares. Applications for these cells were received and payment accepted by the Ministere des Ressources naturelles between December 22 and December 28, 2001. Due to the increased staking activity in Quebec, the MRN is unable to confirm title for 30 to 60 days.
Under the terms of the agreement, Bard acquires a 100% interest in the Lac Comeau and Lac Cabat claim blocks from the Otish Mountain Syndicate by making a cash payment of $15,000 and issuing 75,000 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 previously announced the acquisition of the Otish 3 and Otish 6 properties December 17, 2001 and the Otish 4 claim block January 15, 2002. Bard has now acquired some 19,500 hectares (48,000 acres) in this promising new diamond exploration camp. The Company has received confirmation of title for parts of the Otish 6 claim block and has now commissioned a detailed airborne magnetic survey to cover the Otish 3, Otish 4 and Otish 6 properties.
On behalf of:
Bard Ventures Ltd.