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Bonterra intersects 34.5 g/t Au over 2.7 metres at Barry

Val-d’Or, QC – October 21, 2020 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the following results from the ongoing drilling campaign at the Barry project. The results include several intersections, including 34.5 g/t Au over 2.7 metres (“m”) in hole MB-20-286, 5.4 g/t Au over 2.55 m in hole MB-20-285, 4.5 g/t Au over 1.7 m in hole MB-20-284, and 6.9 g/t Au over 0.8 m in hole MB-20-281.

The 2020 drilling campaign at Barry resumed on July 23, 2020 with two drills in operation, one on a barge on Lake Limpide and the other on dry land near the deposit. Since July 23, 2020, the Company has drilled 37 holes representing a total of 13,002 m of a planned 20,000 m. Results from 19 holes have been received. Results from the remaining 18 drilled holes are pending.

This press release presents results from 12 holes received since the press release dated September 22, 2020, which presented results from the first seven holes.

Pascal Hamelin, Interim CEO and VP, Operations commented: “These results are very promising as all drill holes were testing the western extension of the existing resource. The western extension at Barry has been identified by Bonterra as a prospective area to confirm existing inferred resources and add new resources, and the results to date are confirming this view.”

The following table shows the significant intersections of the drill holes presented in this press release.

Six infill-holes were drilled (MB-20-278; 280; 282; 284 to 286) which confirm the western mineral continuity within the 2019 Barry inferred resource. Three of these holes (MB-20-284 to 286), located northwest of the current 2019 Barry resource, have returned significant grades in this sector with 34.5 g/t Au over 2.7 m in hole MB-20-286 for the H13 zone, while the 1000 zone was intersected with 5.4 g/t Au over 2.55 m in hole MB-20-285 and 4.5 g/t Au over 1.7 m in hole MB-20-284.

Four holes (MB-20-279; 281; 283 and 288) were drilled on Lake Limpide from a barge. Hole MB-20-281 intersected a value of 6.9 g/t Au over 0.8 m, which is located along the western extension of the Barry deposit under Lake Limpide.

Quality control and reporting protocols

The Barry project’s drill core gold analysis is performed at the Bachelor Mine Analysis Laboratory. The Company employs a rigorous QA-QC analysis program that meets industry standards. The analytical results were carried out by fire assay (A.A.) in the mine laboratory. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. The Company’s QA-QC analytical verification program requires that at least 10% of samples be audited in an independent laboratory. These verification tests were sent to the ALS laboratory located in Val-d’Or, Quebec. The results of the audits are consistent with those obtained.

Qualified persons

Sabrina Bernard, P.Geo., Chief Geologist of the Company oversees all exploration activities on the Barry Project. Ms. Bernard is a qualified person as defined by National Instrument 43-101 (“NI-43-101”). Marc Ducharme, P.Geo. and Bonterra’s Principal Geologist, approved the information contained in this press release. Mr. Ducharme is a Qualified Person as defined by NI 43-101.

FOR ADDITIONAL INFORMATION:

Pascal Hamelin, Interim CEO and VP Operations
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8678 | Website: www.btrgold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary and Forward-Looking Statements

This press release contains “forward-looking information” that is based on Bonterra’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Bonterra’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. This forward-looking information includes namely, information with respect to the planned exploration programs and the potential growth in mineral resources. Exploration results that include drill results on wide spacings may not be indicative of the occurrence of a mineral deposit and such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets are conceptual in nature and, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the targets being delineated as mineral resources. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information.

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