Val-d’Or, QC – July 29, 2022 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the filing of an independent Preliminary Economic Assessment (“PEA”) technical report which has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, on the Barry open pit project (the “Barry Open Pit PEA”) in the Urban-Barry Camp in northern Quebec.
The technical report, entitled “Technical Report on the Gladiator and Moroy Deposits and the Bachelor Mine and Preliminary Economic Assessment on the Barry Deposit, Northwestern Québec, Canada Report for NI 43-101” and dated July 25, 2022 (effective date of June 1, 2022), has been prepared for Bonterra by SLR Consulting (Canada) Ltd. and AMC Mining Consultants (Canada) Limited has reviewed and endorsed the mine engineering and cost estimates contained in the Barry Open Pit PEA. The technical report is available on www.sedar.com under Bonterra’s issuer profile.
Bonterra’s news release dated June 13, 2022 summarized key results, assumptions and estimates contained in the Barry Open Pit PEA. The Corporation confirms that there are no material differences between the key results, assumptions and cost estimates contained in the Barry Open Pit PEA and Bonterra’s news release dated June 13, 2022.
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 a portfolio of deposits, including, Barry, Gladiator, 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. Bonterra is focused on graduating from advanced exploration to a development company to deliver shareholder value.
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.
Readers are cautioned that the Barry Open Pit PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results, assumptions or estimates in the Barry Open Pit PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.