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Bonterra Makes New Gold Discovery at Barry North

Val-d’Or, QC – December 21, 2020 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce a new gold discovery at Barry North. Recent exploration drilling has confirmed the existence of gold mineralized vein structures spanning approximately 750 metres (“m”) in length along strike, approximately 150 m north of the Barry gold deposit. The Barry North zone is proximal and subparallel to the Mazères regional fault. These vein structures remain open along strike and at depth. Barry North’s gold mineralization is associated with quartz veining with some pyrite hosted within sheared mafic volcanic rocks and proximal to felsic intrusive rocks.

The best results obtained from the newly discovered Barry North zone include several intersections which are as follows: 3.8 g/t Au over 0.7 m in hole MB-20-290, 2.6 g/t Au over 3.9 m in hole MB-20-295 and 3.3 g/t Au over 2.0 m in hole MB-20-302. These holes are located just north and adjacent to the Barry deposit (See Table 1 and Figure 1).

Pascal Hamelin, President and CEO commented: “This newly discovered zone near surface is very promising and confirms the existence of previously untested gold mineralization just north of the Barry deposit. We look forward to receiving more drill results from this zone.”

The Company has drilled 42 holes representing a total of 15,225 m at Barry since July 23, 2020. Results from 11 holes have been received since the press release dated October 21, 2020 (See Table 1 and Figures 1 and 2).

In addition, infill drilling continues to confirm the western mineral continuity of the H1 and 800 zones at Barry. The best results include 7.4 g/t Au over 2.3 m, including 20.4 g/t Au over 0.8 m and 5.7 g/t Au over 0.5 m in hole MB-20-298 and 5.6 g/t Au over 1.5 m in hole MB-20-296 for the H1 Sector and H1 zones, respectively. The 800 zone was intersected with 1.8 g/t Au over 11.0 m including 8.3 g/t Au over 2.0 m in hole MB-20-294 (See Table 1 and Figures 1 and 2).

Quality control and reporting protocols

The Barry project’s drill core gold analyses are performed at the Bachelor Mine’s analytical laboratory (the “Laboratory”). The Company employs a rigorous QA-QC analysis program that meets industry standards. The analyses are carried out by the fire assay (A.A.) with atomic absorption finish. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor the Laboratory’s performance. The Company’s QA-QC program requires that at least 10% of samples be analyzed by an independent laboratory. These verification samples are sent to ALS Minerals laboratory facility located in Val-d’Or, Quebec. The verifications show a high degree of correlation with the Laboratory’s results.

Qualified person

Marc Ducharme, P.Geo. and Bonterra’s Exploration Manager, has compiled and approved the information contained in this press release. Mr. Ducharme is a qualified person as defined by National Instrument 43-101.

FOR ADDITIONAL INFORMATION:

Pascal Hamelin, President & CEO
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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