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Marc-Andre Pelletier Officially Takes Over as President and CEO of Bonterra

Val-d’Or, QC – January 17, 2022 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce that Marc-Andre Pelletier has officially taken over as President and Chief Executive Officer today as previously announced on November 11, 2021.

Marc-Andre Pelletier, President, CEO and Director of Bonterra stated: “I am very excited to take over as President and CEO of Bonterra and lead the Company as it transitions from advanced exploration to development and ultimately to a restart of production. I am ready to take on the challenges that lie ahead in collaboration with the team at Bonterra and look forward to communicating our progress in the near future.”

In addition, Bonterra is pleased to announce that Anik Gendron has joined the Board as an independent non-executive Director of the Company, effective immediately. Ms. Gendron is an attorney with vast experience in corporate and commercial law, securities laws, compliance and ESG issues. Known for her business acumen, she has advised many entrepreneurs at all stages of development and has served as general counsel and corporate secretary for several publicly traded companies, mainly in the mining sector. Ms. Gendron holds a B.Sc (economics) and LLB from the University of Montreal and has obtained the Certification in Ethics and Compliance from HEC in February 2021. Ms. Gendron replaces Jean Rainville who has resigned as a Director of the Company, effective immediately. The Board of Directors thanks Mr. Rainville for his service to Bonterra and wishes him well in his future endeavors.

Cesar Gonzalez, Executive Chairman of Bonterra commented: “The addition of Anik as an independent non-executive Director is an important step in enhancing our board diversity and skill sets. Her extensive experience in legal affairs and ESG will prove invaluable as Bonterra continues to mature as a public company.”

Lastly, in connection with the new appointment and as a normal course of business, Bonterra announces the grant of incentive stock options to acquire a total of 1,300,000 common shares of the Company to various officers and directors pursuant to the Company’s stock option plan and subject to any regulatory approval. Each stock option, vests immediately and is exercisable at a price of $1.32 per share for a period of five years from the grant date.

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 85% 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 24 months to deliver shareholder value.

FOR ADDITIONAL INFORMATION

Marc-Andre Pelletier, President, CEO and Director
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.

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