May 10, 2002______________________________________
BARD ACQUIRES PROPERTY INTEREST
CORONATION GULF DIAMOND DISTRICT - NUNAVUT
Bard Ventures Ltd. ("Bard" or the "Company") is pleased to announce it has acquired a 50% interest in a 99,577.5 acre property known as the "North James River" property in the newly developing Coronation Gulf diamond district, in Nunavut. Numerous diamond bearing kimberlites have recently been discovered in this region, the most prominent of which are the Artemisia, Potentilla and Anuri.
The property is located approximately 90 kilometers northeast of the Artemisia and Potentilla kimberlite discoveries, and 80 kilometers north of the Tenacity kimberlite. As a result of the kimberlite discoveries, most of the Coronation Gulf region has been staked, and in 2002, several companies including Ashton Mining of Canada Inc., Kennecott Canada Exploration Inc., Debeers Canada Exploration Inc. and numerous diamond exploration companies, are conducting exploration programs in the area.
Bard earns a right to acquire 50% interest in the North James River property from Hunter Exploration Group, by making a cash payment of $50,000, issuing 200,000 common shares of the Company over two years, and conducting $500,000 of exploration on the property over the next four years. The claims are subject to a 2% net smelter royalty on base and precious metal production and a 2% gross over riding royalty on diamond production, as well an annual advanced royalty payment of $12,500 to commence April 30, 2003.
The above is subject to regulatory approval.
On behalf of:
Bard Ventures Ltd.
(signed) "Eugene Beukman"