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October 31, 2003______________________________________

$700,000 BROKERED PRIVATE PLACEMENT CLOSES

Bard Ventures Ltd. (the "Company") is pleased to announce that it has closed the brokered private placement announced on October 16, 2003. The Company sold 4,500,000 flow-through units and 2,500,000 non-flow-through units through Haywood Securities Inc. (the "Agent"), at a price of $0.10 per unit for gross proceeds of $700,000.

Each flow-through unit consists of one flow-through common share and one-half of one flow-through share purchase warrant. Each non-flow-through unit consists of one common share and one share purchase warrant to purchase one additional common share at a price of $0.12 per share until October 31, 2004. Each whole flow through warrant entitles the holder to purchase one flow-through common share at a price of $0.12 per share until October 31, 2004. The shares and the warrant shares are subject to a hold period expiring on February 29, 2004.

The Company paid the Agent a cash commission of $56,000, being 8% of the gross proceeds raised, and a work fee of $10,000 plus GST. The Company also granted the Agent a compensation option to purchase 700,000 units at a price of $0.10 per unit. Each unit will consist of one common share and one share purchase warrant entitling the Agent to purchase one additional common share on the same terms as the non-flow-through warrants. The Company also paid the Agent a corporate finance fee of 150,000 units plus GST, with each unit consisting of one common share and one common share purchase warrant entitling the Agent to purchase one additional common share on the same terms as the non-flow-through warrants.

The net proceeds of the private placement will be used to fund exploration on the Company's North James Bay Project and for general working capital.

On behalf of:
Bard Ventures Ltd.

Signed "Eugene Beukman"

Eugene Beukman,
President