News

Bonterra intersects 8.0 g/t Au over 12.1 m near surface northeast of the Barry Gold Deposit

Val-d’Or, QC – October 05, 2021 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce results from the ongoing drilling campaign at the Barry project. Recent drilling results expand upon the northeast sector of the Barry deposit near surface and at depth. The latest results obtained from 21 diamond drill holes are designed to expand the 2021 mineral resource estimate (“2021 MRE”) released in June (see press release dated June 23, 2021). Drilling highlights include 8.0 g/t grams-per-tonne gold (“g/t Au”) over 12.1 metres (“m”) in the near-surface zone AB8, approximately 75 m northeast of the 2021 MRE.

The Company is currently drilling at a rate of approximately 6,000 m per month, focused on expanding its main gold deposits highlighted within the recently released 2021 MREs.

Highlights include:

• 8.0 g/t Au over 12.1 m, including 14.9 g/t Au over 3.7 m in MB-21-384
• 1.8 g/t Au over 13.5 m, including 10.4 g/t Au over 1.0 m in MB-21-372
• 2.5 g/t Au over 8.3 m, including 11.2 g/t Au over 1.7 m and 4.6 g/t Au over 3.5 m, including 25.6 g/t Au over 0.6 m in MB-21-382

Pascal Hamelin, CEO commented: “These near surface results, in particular in hole MB-21-384 substantiates our view that a strong mineralized potential exists at Barry from the recent exploration drilling which intercepted thick and continuous gold mineralization intervals near surface and within 200 m depth immediately adjacent to the 2021 MRE. More assays are pending from this same sector, and we look forward to receiving more diamond drill results from this area.”

Figure 1 – Barry Project – Drill Hole Location Map.

 See Figure 2 for details of drill holes in the northeast sector of the Barry deposit

Figure 2 – Barry Project – Drill Hole Location Detailed Map

The Barry drilling campaign is currently focused on the expansion of key gold mineralized zones around the 2021 MRE. Multiple diamond drill holes tested open pit potential to the northeast of the open pit resource shell in the 2021 MRE and followed up on deeper intercepts with holes MB-21-382 and MB- 21-383 (see press release dated March 1, 2021). High-grade gold mineralization occurring near-surface above open pit cut-off grade was intercepted at approximately 50 m northeast of the existing pit shell in the AB7 and AB8 zones and mineralization remains open to the east. Expansion drilling has confirmed the mineral continuity of several known H-Type zones and has intercepted new additional H-type zones north of the 1000 zone, returning high-grade intercepts at less than 200 m depth and laterally within 50 to 100 m of the existing resource along the 1000 zone. Follow-up drilling of this target area northeast of the Barry gold deposit will continue throughout the remainder of Q4 2021 and into Q1 2022 in order to better define their geometries. Drilling also continues to test extensions and outlining continued potential at depth of the H series mineralized structures to the southwest of Barry (Table 1, Figures 1, 2, 3, 4 and 5).

Figure 3 – Barry Project – Composite Cross Section (MB-21-384)

Figure 4 – Barry Project – Composite Cross Section (MB-21-357, MB-21-360, MB-21-382, MB-21-383, MB-21-385)

Figure 5 – Barry Project – Composite Cross Section (MB-21-352, MB-21-372, MB-21-375, MB-21-380)

Barry Deposit Geology

The Barry gold deposit is characterized by three dominant sets of structures, all dipping to the southeast. The sub-vertical shear zones and the H-Series shear zones dipping 25 to 40 degrees are hosted within intermediate to mafic volcanics and tuffs with local felsic intrusions. Contact zones dip at 50-65 degrees along the lower and upper contacts of the D1, D2 and D3 felsic intrusions with mafic volcanics. Gold mineralization is associated with disseminated sulfides within shear zones and veins with local visible gold. The Barry deposit has been delineated over 1.4 kilometres along strike and 700 m vertical and remains open for expansion.

Table 1: Barry Drillhole Results

Notes:

1) The meterage represents the length of the drilled lengths.

2) True widths are estimated to be greater than 70% of the drill intersection length.

3) The shown mineralized intervals listed are above 0.5 g/t Au.

4) Gold results obtained below 0.1 g/t Au are represented as no significant values

Quality Control and Reporting Protocols

The Barry project’s drill core gold analyses are performed at the Company’s Bachelor Mine analytical laboratory (the “Laboratory”). The Company employs a rigorous QA-QC analysis program that meets industry standards. The analyses are carried out by 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 NI 43-101.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a large portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company has four main assets, Gladiator, Barry, Moroy, and Bachelor that collectively have a total of 1.24 million ounces in Measured and Indicated categories, and 1.78 million ounces in Inferred category. Importantly, the Company owns the only permitted and operational gold mill in the region that is currently estimated at 75% through the permitting process to expand from 800 to 2,400 tonnes-per-day. Bonterra is focused on graduating from advanced exploration to a development company over the next 18-24 months to deliver shareholder value.

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 news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that implies predictions, expectations, interpretations, opinions, plans, projections, objectives, assumptions, future events or performance (often using words such as “expects” or “does not expect”, “is expected”, “interpreted”, “in management’s opinion”, “anticipates”, or “plans”, “budget”, “schedule”, “forecasts”, statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved) is not a statement of historical fact and may constitute forward-looking information and is intended to identify forward-looking information. This news release may contain forward-looking information relating to, among other things, the outlook for the Gladiator, Barry, and Moroy projects; updated mineral resources; the deposit remaining open laterally and at depth; and future drilling. These factors include, but are not limited to, risks associated with the ability of exploration activities (including drilling results) to accurately predict mineralization; the Company’s ability to obtain required approvals; the results of exploration activities; risks associated with mining operations; global economic conditions; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based on assumptions that management believes are reasonable at the time of release, Bonterra cannot assure shareholders and prospective purchasers of the Company’s securities that actual results will be consistent with the forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Bonterra nor any other person assumes responsibility for the accuracy or completeness of forward-looking information. All statements made, other than statements of historical fact, that address the Company’s intentions and the events and developments that the Company anticipates, are considered forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ from those in the forward-looking statements.