June 05, 2002______________________________________
EXPLORATION UPDATE - OTISH 3 AND 6 PROPERTIES - OTISH MOUNTAINS REGION - QUEBEC
Bard Ventures Ltd. ("Bard") is pleased to announce the results of the first phase of exploration on the Otish 3 property located in the highly prospective Otish Mountains diamond area of northern Quebec. Bard commissioned Fugro Sial Airborne Surveys to conduct a 1200 line kilometer magnetic survey over the Otish 3 property and a 1265 line-kilometre magnetic survey over the Otish 6 property.
A thorough, independent interpretation of the Otish 3 data was conducted. Eight high priority and four medium priority anomalies were identified as having kimberlitic affinity. Ground magnetic surveys were then conducted on four of the high priority targets, the B2, B4, B6 and B11 anomalies. Interpretation of the ground magnetic data further enhanced and defined the signature of these strong magnetic features. Results of the Otish 6 survey are pending.
Taking advantage of a diamond drill operating in the area, Bard undertook to drill test the B4 anomaly. This magnetic anomaly was determined to be at a depth of 30 metres below surface, underlying an esker. The initial attempt to drill was unable to penetrate the heavy overburden of the esker. A second hole was started and penetrated 28 metres of overburden and cored into a highly magnetic granite and gneiss assemblage before being terminated at 42 metres. This property is in very close proximity to Pure Gold Minerals Inc.'s recent kimberlite discovery (see Pure Gold's news release dated April 30, 2002).
The majority of the kimberlites so far identified in the Otish Mountains region are magnetic, thereby providing a readily identifiable target. By testing magnetic anomalies in this fashion, Bard believes it can efficiently test magnetic anomalies for kimberlite source rocks. The diamond drill has been left on the Otish 3 property. A follow-up surface exploration program and drilling of the other high priority targets is to resume immediately following spring breakup.
Geoffrey Goodall, P.Geo., a Director of Bard, is responsible for the design and implementation of its exploration programs.
On behalf of:
Bard Ventures Ltd.