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October 3, 2003______________________________________

COMPANY UPDATE

Bard Ventures Ltd. (the "Company") is pleased to announce that the airborne survey on its North James Bay Property (the "Property") has commenced. The Property is immediately west of Wolfden Resources Inc.'s (TSX:WLF) High Lake property. The Company plans to do an airborne magnetometer and electromagnetometer survey on parts of the Property underlain by favourable greenstone belts that hosts the High Lake deposit but also hosts the gold mineralization discovered by BHP Minerals in the 1990's.

The Company also announces that it has arranged a brokered private placement of 1,500,000 flow-through units and 1,500,000 non-flow-through units through Haywood Securities Inc. (the "Agent"), at a price of $0.10 per unit, with an over allotment option for an additional 3,000,000 units. These additional units will be flow-through and non-flow-through on the same terms. Each flow-through unit will consist of one flow-through common share and a one share purchase warrant. Each non-flow-through unit will consist of one common share and one share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share at a price of $0.12 at any time for twelve (12) months from the Closing Date. If the over allotment option is exercised a total of $600,000 will be raised.

Upon closing of the private placement, the Agent will be paid a commission consisting of 8% cash of the gross proceeds raised and common share purchase warrants (the "Agent's Warrants") to acquire that number of common shares as is equal to 10% of the number of units sold pursuant to this private placement. Each Agent's Warrant will have the same terms as the private placement units. The Company will also pay to the Agent a Corporate Finance Fee of 150,000 units (the "Agent's Units") plus GST on the Closing Date. Each Agent's Unit will have the same terms as the private placement non-flow-through units.

The Company intends to use the proceeds from the private placement to fund exploration on the North James Bay project and for general working capital. The private placement is subject to regulatory approval.



On behalf of:
Bard Ventures Ltd.

Signed "Eugene Beukman"

Eugene Beukman,
President