Geophysics have yeilded some targets, Deep deep targets identified by geophysics. As Noronts the operator can we expect drilling here in the near future? Perhaps NOTs waiting for Bold and Melkior to drill the close by West Nickel project, 10 first priortity conductors and 8 second priority conductors identified by Megatem survey, one priorty target on 50/50 Melkior/BMK claim. VTEM was solicited to follow up the Megatem on the West project. NOT may be privy to these geophysics and may elect to let it ride and wait and see what comes to surface once and when the drills turn here. Guess this may be another wait and see situation.

" This type of anomaly could be caused by a mafic/ultramafic intrusive which could be the source of nickel mineralization in the surrounding Ring of Fire. "

The Company's main emphasis is on two Copper-Nickel exploration properties located in the McFaulds Lake "Ring of Fire" area of Northern Ontario. Bold has an option agreement with Noront Resources to acquire a 50% in the RING STAR NICKEL Project, and has earned a 50% interest in the WEST NICKEL project with Melkior Resources.

July 31/08 MD&A

The Ring Star Nickel Project

Mcfaulds Lake area, Province of Ontario

The Company has entered into an option agreement with Noront Resources Ltd. (“Noront”), subject to regulatory approval, to acquire a 50% legal and beneficial interest (subject to a 2% Net Smelter Royalty) in 96 claim units covering approximately 3800 acres on the “Ring of Fire”, McFaulds Lake area, Ontario.

In order to acquire its interest in the property, the Company is required to:

1. Make an initial payment of $120,000 or issue 240,000 of the Company’s common shares to Noront, subject to receipt by both parties of regulatory and board of director approvals;

2. Incur total exploration expenditure on the property of $2.1 million over a three year period as follows:

I. $600,00 on or before January 01, 2009 ( a firm commitment);

II. further $600,000 on or before January 01, 2010 (optional);

III. a further $900,000 on or before January 01, 2001 (optional);

3. Make additional cash payments to Noront, or subject to the prior regulatory approval, if applicable, any portion may be satisfied by the issuance, at Noront’s option of the Company’ common shares at a price of $0.50 per share as follows:

I. $120,000 on or before January 01, 2009 (optional)

II. $120,000 on or before January 01, 2010 (optional)

Subject to regulatory and board approvals, a finder’s fee of 200,000 of the Company’s common shares is payable in respect to this transaction.

As at July 31, 2008 the Company had advanced $50,000 toward the work commitment.

INVESTMENT HIGHLIGHTS

RING STAR NICKEL Project
Option agreement with Noront Resources to acquire 50% interest in the project
96 claim units - approximately 3800 acres
located approximately 30km north of Noront's Double Eagle Copper-Nickel PGM discovery

WEST NICKEL Project
BOLD - 50% interest
909 claim units - approximately 14,544 hectares
located 20km north of Noront's Double Eagle Copper-Nickel discovery and covers most of a
significant gravity anomaly within the 'Ring of Fire'

MAGENTICS - REGIONAL GRAVITY ANOMALY - REGIONAL