June 15, 2001______________________________________
BARD ACQUIRES OIL AND GAS INTEREST
Bard Ventures Ltd. (CDNX:CBS) ("Bard") is pleased to announce that it has entered into an agreement with Pure Gold Minerals Inc. to acquire a 25% working interest in the onshore 350 square kilometre Larne license, Northern Ireland. The agreement also includes an Area of Mutual Interest, which encompasses a much larger area of potential.
Under the terms of the agreement Bard must issue 100,000 shares to earn a direct 25% working interest in the license. Any future costs will be 25% Bard, 25% CVL Resources Ltd., and 50% Antrim Energy Inc. Bard will also earn the right to a 25% interest, on a contributing basis of any new interests acquired by Antrim in the Area of Mutual Interest.
The acquisition of the Larne project is Bard's first international oil and gas project.
BARD LTD. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Further to Bard's news release of March 8, 2001 regarding the non-brokered private placement of up to 500,000 units at a price of $0.30 per unit, Bard announces that it will not be proceeding with this private placement.
Bard will instead proceed with a non-brokered private placement of up to 400,000 units at $0.25 per unit. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at any time for one year from the closing date at a price of $0.25 per share.
Bard intends to use the proceeds of $100,000 from the private placement to acquire an interest in the petroleum and natural gas properties in north-east British Columbia.
The above transactions are subject to regulatory approval.
Eugene Beukman, President & Director