Author: Anthony Cowe

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Val-d’Or, QC –April 18, 2024– Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce that it has entered into an agreement with Eight Capital as lead agent (the “Agent”) in connection with a “best efforts” private placement of up to 16,000,000 units of the Company (the “Units”) at a price of $0.25 per Unit (the “Issue Price”) for aggregate gross proceeds of up to $4,000,000, pursuant to the listed issuer financing exemption available under National Instrument 45-106 – Prospectus Exemptions (the “LIFE Offering”) or the “accredited investor” exemption under National Instrument 45-106 – Prospectus Exemptions (the “Private Placement Offering” and together with the LIFE Offering, the “Offering”), in each of the Provinces of Canada other than Quebec. Each Unit will consist of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.31 for a period of four years from the date of issuance.

The Company will make available an offering document relating to the LIFE Offering (the “Offering Document”) which will be accessible under the Company’s profile at www.sedarplus.ca and at www.btrgold.com. Prospective investors in the LIFE Offering should read the Offering Document before making an investment decision.

The Offering is expected to close on or around May 2, 2024 (the “Closing Date”). Closing of the Offering is subject to certain customary conditions including receipt of all necessary approvals including satisfaction of listing conditions of the TSX Venture Exchange. The Units issued pursuant to the LIFE Offering will not be subject to any hold periods pursuant to applicable Canadian securities laws. The Units issued pursuant to the Private Placement Offering, which will include all Units issued to persons on the President’s List, will be subject to a four month hold period under applicable Canadian securities laws.

The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

The Company also announces that it has reached an agreement to settle approximately $1.5 million in outstanding indebtedness owed to an arms length creditor through the issue of 6,000,000 Shares at a deemed price of $0.25 per Share. The debt settlement is subject to the execution of definitive documentation by the parties and the approval of the TSX Venture Exchange. Shares issued pursuant to the debt settlement will be subject to a hold period in Canada of four months.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any Shares in the United States. The securities to be sold in the Offering have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, 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.

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward‐ looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding anticipated completion of the Offering and debt settlement, and the proposed use of proceeds of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering and debt settlement, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca, including the Offering Document. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

Val-d’Or, QC – April 15, 2024 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce encouraging drill results and an update on the ongoing drilling program on the Phoenix JV (formerly known as the UrbanBarry Property) (the “Project”). The Project is under a definitive earn-in and joint venture agreement (the “Agreement”) with Osisko Mining Inc. (“Osisko Mining”). Under the Agreement, Osisko Mining has the right to acquire up to a 70% interest in the Project by spending $30 million in work expenditures, with a minimum spending commitment of $10 million per year over a threeyear period (see press release dated November 28, 2023 for more details).

To date, approximately 20,000 meters (“m”) have been drilled on the Project and exploration efforts are on track to exceed the minimum spending commitment of $10 million per year outlined in the Agreement. There are currently five drill rigs on the Moss target, while one is dedicated to the Barry northeast target (see Figure 1).

The first drill results at the Moss target, located five kilometers (“km”) southwest of the multimillion ounce Windfall Gold deposit, have confirmed similarities with the geological character of the high-grade Lynx Zone along the Mazères Fault that extends towards the Moss target.

Highlights at Moss Target Include:

• 5.18 g/t Au over 3.3 m, including 16.75 g/t Au over 1.0 m and,3.19 g/t Au over 2.9 m, including 12.70 g/t Au over 0.7 m in hole OSK-PHX-24-04
• 6.76 g/t Au over 0.8 m and 9.63 g/t Au over 0.5 m in hole OSK-PHX-24-13
• 9.52 g/t Au over 0.3 m in hole OSK-PHX-24-030

Marc-André Pelletier, President and CEO commented: “Today’s results are very encouraging and demonstrate geological similarities to the Windfall gold deposit. Notably, most of the drill hole intercepts at Moss are within 400 m below surface, with additional drilling planned to confirm mineralization continuity at depth. Osisko Mining intends to mobilize one additional drill rig in the next few months, bringing the total to six operational rigs at the Moss target. Although it’s still early in the discovery process, we’re excited by the results thus far and impressed by Osisko Mining’s commitment to accelerating the development of the Urban-Barry mining camp, where nearly ten million ounces have already been identified to date.”

Highlights of the Diamond Drilling Program:

The drilling program at the Moss target includes several drill fences designed at defining the lithostructural context of the area, which according to current geological models, is similar to that encountered at the Lynx Zone within the Windfall gold deposit. Notably, this involves exploring the presence of altered felsic volcanic rocks, felsic porphyritic dikes, and high-grade gold mineralization associated with quartz veins within the footwall of the Mazères fault. Additionally, these drill fences seek to intersect potential new mineralized lenses situated between the Mazères fault and the Moss showing.

Quality Control and Reporting Protocols (adopted by Osisko Mining)

NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fireassaying-AA finish or gravimetric finish at ALS Laboratories in Val-d’Or, Québec, or Vancouver, British Colombia. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analyzed for multi-elements, including silver, using Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by Osisko Mining as well as the lab.

Qualified Person

M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, has reviewed and approved the technical information contained in this press release. Mr. Trudel is a qualified person as defined by National Instrument 43-101 on standards of disclosure for mineral projects.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-279-9304 | 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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.

Val-d’Or, QC – March 18, 2024 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce that it has retained Machai Capital Inc. (“Machai”) to provide digital marketing services in accordance with the applicable TSX Venture Exchange policies. The engagement has an initial term of three months, pursuant to which Machai will receive 120,000 in common shares of the Company, plus applicable taxes. Machai is an arm’s length to Bonterra and has no other relationship with the Company except under this engagement.

The Company also wishes to announce the grant of incentive stock options to acquire a total of 1,970,000 common shares of the Company to various employees, officers, and directors of the Company 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 $0.24 per share for a period of five years from the date of the grant.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into an earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

About Machai Capital Inc.

Machai is a marketing, advertising and public awareness firm based out of Vancouver, British Columbia, specializing in advertising and public awareness firm specializing in the metals & mining, technology, and special situation sectors. Suneal Sandhu is the President of Machai and can be reached at (604) 375-0084.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-279-9304 | 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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.

Val-d’Or, QC – February 27, 2024 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the results from its 15,000 meters (“m”) drill program at its 100% owned Desmaraisville South project. The purpose of the program was to test several new geological and geophysical targets along with historical near surface gold mineralization along the edges of the O’Brien Syenite Intrusion (“O’Brien Intrusive”) and to identify the location of a regional corridor of deformation located north of the property.

The diamond drilling was conducted within four kilometers (“km”) of the Bachelor Mill Complex. To date, Bonterra has received all assay results, including QA-QC samples, from the 57 diamond drill holes completed between August 23 and December 22, 2023. Please refer to press releases dated December 4, 2023, December 14, 2023, and February 5, 2024, for exploration updates on the Desmaraisville North and South projects and the surrounding area.

Highlights Include:

• 1.77 g/t Au over 12.1 m, including 2.33 g/t Au over 7.0 m in hole BRDS-23-043
• 0.61 g/t Au over 11.1 m in hole BRDS-23-033
• 0.80 g/t Au over 5.6 m, including 5.27 g/t Au over 0.5 m in hole BRDS-23-002
• 3.89 g/t Au over 1.0 m in hole BRDS-23-052

Marc-André Pelletier, President and CEO commented: “The drilling campaign at our 100%-owned Desmaraisville property resulted in the interception of several economic gold values and the discovery of new types of mineralization less than four km from the Bachelor Mill. Specifically, a gold intercept in hole BRDS-23-052 led to the discovery of a promising area along the OpawicaGuercheville regional deformation corridor, which hosts multiple gold showings over a 200 km long corridor in the region. Now that all of the results from the 2023 drilling campaign are in hand, our geology team is working on compiling and modeling these results, as well as the results of the 2023 geophysical surveys, to generate prospective drill targets for exploration later this year.

At our Phoenix JV, operated by Osisko Mining Inc., exploration efforts are progressing well, with approximately 6,000 m drilled to date. Currently, three drill rigs are focused on the Barry southwest target, while two are dedicated to the Moss target. As a reminder, the Moss target is located only five km southwest from the Windfall Gold deposit and shows a similar geological character to the Lynx Zone along the Mazères Fault that runs across both the Lynx Zone and the Moss target. Looking ahead, Osisko Mining plans to add a third drill rig at Moss in March, bringing the total operational rigs on the Phoenix JV to six.”

Highlights of the Diamond Drilling Results:

The diamond drilling program at the Desmaraisville South project had several objectives. The main objectives were to intersect gold mineralization; (1) on the eastern side of the O’Brien Intrusive (“East Area”), (2) along the extensions of various gold zones discovered in 2015 south of the O’Brien Intrusive (“South Area”) and finally, (3) to drill test geophysical targets and historical gold showings west of the Bachelor Lake felsic intrusion (“Bachelor Lake Intrusive”).

In addition, the ongoing geological and geophysical compilation work has allowed the company to identify two major gold-bearing structures: the Opawica-Guercheville deformation corridor, which hosts numerous gold showings and deposits that have been the subject of historical resource calculations, and the Lamarck-Wedding Fault, which hosts the former Lake Shortt Gold Mine (Figure 1).

The gold mineralized zone containing 1.77 g/t Au over 12.1 m, including 2.33 g/t Au over 7.0 m in hole BRDS-23-043 (Figure 2, Tables 1 and 2) consists of a strongly silicified and hematized zone with a brecciated texture. The zone contains up to 2% fine grained disseminated pyrite and is bordered at its lower contact by a fault zone.

The gold mineralized intersection in hole BRDS-23-033, which returned 0.61 g/t Au over 11.1 m, correspond to the up-dip projection of the intersection in hole BRDS-23-043. This gold mineralized zone comes to surface and is located 160 m to the west from the mineralized intersection in BRDS-23-043. The gold mineralization is hosted in the same basalt and brecciated and altered zone than hole BRDS-23-043 and is also bordered by a major fault at its lower contact (Figure 2, Tables 1 and 2).

BRDS-23-002 intersected a brecciated and highly silicified zone in a massive basalt. The zone is locally hematized and contains up to 2% fine grained disseminated pyrite and returned several gold intersections (Figure 2, Tables 1 and 2).

Finally, an exploration drill hole located North of the Bachelor Mill Complex, BRDS-23-052, tested the interpretated Opawica-Guercheville corridor of deformation and has returned a gold mineralized intersection containing 3.89 g/t Au over 1.0 m. The mineralized intersection consists of a strongly sericitized and sheared sedimentary unit with deformed quartz-carbonate veins and veinlets with traces of pyrite. Bonterra believes that the hole did not go across the entire corridor of deformation (Figure 3, Tables 1 and 2). Further drilling is warranted in this area to better evaluate the gold potential of the Opawica-Guercheville corridor of deformation.

Quality Control and Reporting Protocols

The Desmaraisville South project’s drill core gold analyses are performed at Activation Laboratories (“Actlabs”) located in Ste-Germaine-Boulé, Quebec, and at the Agat Laboratory (“Agat”) located in Val d’Or, Quebec. The external laboratories employ a rigorous QA-QC analysis program that meets industry standards. The analyses are carried out by fire assay (A.A.) with atomic absorption finish and with gravimetric finish for assay above 10 g/t Au at both Actlabs and Agat. 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 5 to 10% of the 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. For the entire drilling program, a total of 12,179 drill core samples and 2,160 QA-QC samples, have been sent to Actlabs and Agat.

Qualified Person

M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, oversees all exploration activities on the Desmaraisville Property and has compiled and approved the information contained in this press release. Mr. Trudel is a qualified person as defined by National Instrument 43-101 on standards of disclosure for mineral projects.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-279-9304 | 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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.

Val-d’Or, QC – February 5, 2024 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the latest results from its 15,000 meters (“m”) drill program at its 100% owned Desmaraisville South project. The purpose of the program was to test several new geological and geophysical targets along with historical near surface gold mineralization along the edges of the O’Brien Syenite Intrusion (“O’Brien Intrusive”) and to identify the location of two regional corridors of deformation located further to the North of the project.

The diamond drilling was conducted within seven kilometers (“km”) of the Bachelor Mill Complex. To date, Bonterra has received the assay results from 10,631 samples including QA-QC samples from the 57 diamond drill holes completed between August 23 and December 22, 2023. Assay results from 3,708 drill core samples are still pending. Please refer to press releases dated December 4 and December 14, 2023, for exploration updates on the Desmaraisville South project and the surrounding area.

Highlights Include:

• 2.23 g/t Au over 8.2 m, including 9.26 g/t Au over 1.7 m in hole BRDS-23-021
• 15.30 g/t Au over 1.0 m in hole BRDS-23-030
• 0.80 g/t Au over 11.7 m, including 2.84 g/t Au over 1.4 m in hole BRDS-23-013
• 3.66 g/t Au over 1.5 m in hole BRDS-23-004A

Marc-André Pelletier, President and CEO commented: “With the launch of the $10 million in exploration drilling as part of the Option Agreement with Osisko Mining on the Phoenix JV and positive results from the 2023 campaign at our 100%-owned Desmaraisville property, this year holds transformative potential for Bonterra. Notably, all drill hole mineralized intersections at Desmaraisville fall within 4 km of the Bachelor Mill Complex. The discovery of a new mineralization type on the east side of the O’Brien Intrusive in hole BRDS 23-021, distinct from the mineralization typically found at the Bachelor-Moroy deposits, underscores the possibility of new findings on the Desmaraisville property. Compilation work is ongoing, and the final interpretation of the 2023 geophysical surveys are expected soon. These findings will contribute to generating highly prospective drill targets for exploration later this year.”

Highlights of the Diamond Drilling Results:

The diamond drilling program at the Desmaraisville South project had several objectives. The main objectives were to intersect gold mineralization; (1) on the eastern side of the O’Brien Intrusive (“East Area”), (2) along the extensions of various gold zones discovered in 2015 south of the O’Brien Intrusive (“South Area”), (3) related to geophysical targets on the west of the Bachelor Lake felsic intrusion (“Bachelor Lake Intrusive”) enhanced by the presence of gold showings at surface and finally, (4) to test the deep southwest plunge of a zinc, lead, and silver mineralized body of the former Coniagas Mine (Figures 1 and 2).

In addition, drill holes were positioned to improve the understanding of the stratigraphy on the property and to better position the boundaries of the various formations within it. The Company is also seeking to better locate two major structures that affect these formations: the OpawicaGuercheville deformation corridor, which hosts numerous gold showings and deposits that have been the subject of historical resource calculations, and the Lamarck-Wedding Fault, host to the former Shortt Lake Gold Mine. Recent geophysical surveys on the Desmaraisville property should help Bonterra to properly position these two major structures.

The gold mineralized zone containing 2.23 g/t Au over 8.2 m, including 9.26 g/t Au over 1.7 m in hole BRDS-23-021 (Figures 2 and 3) is located at the contact between a tuff and a massive basalt rock unit. The contact zone is moderately silicified and contains 2-3% pyrite in clusters. This type of gold-bearing environment is different from the Bachelor and Moroy gold-bearing environment. This new mineralized zone appears to be related to a structural lineament trending N080 to N070 and this lineament is more than one km in length. Borehole BRDS-23-030 (Figure 2) is more than 275 m deep and has intersected an atypical gold mineralization characterized by a strong epidote alteration with a low sulphide content. The best mineralized interval returned a value of 15.30 g/t Au over 1.0m.

Drill hole BRDS-23-013 (Figure 4) intersected a gold enriched zone (0.80 g/t Au over 11.7 m, including 2.84 g/t Au over 1.4 m) associated with a strongly altered felsic dike west of the Bachelor Lake Intrusive. The host rocks directly in contact with the dike are strongly silicified. It remains to be determined whether the IP geophysical anomaly is related to this mineralized zone and if so, the mineralized zone could extend for several hundred metres.

Quality Control and Reporting Protocols

The Desmaraisville project’s drill core gold analyses are performed at Activation Laboratories (“Actlabs”) located in Ste-Germaine-Boulé, Quebec, and at the Agat Laboratory (“Agat”) located in Val d’Or, Quebec. The external laboratories employ a rigorous QA-QC analysis program that meets industry standards. The analyses are carried out by fire assay (A.A.) with atomic absorption finish and with gravimetric finish for assay above 10 g/t Au at both Actlabs and Agat. 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 5 to 10% of the 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. For the drilling program a total of 12,179 drill core samples and 2,160 QA-QC samples, have been sent to Actlabs and Agat.

Qualified Person

M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, oversees all exploration activities on the Desmaraisville Property and has compiled and approved the information contained in this press release. Mr. Trudel is a qualified person as defined by National Instrument 43-101 on standards of disclosure for mineral projects.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-279-9304 | 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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.

Val-d’Or, QC – February 1, 2024 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce that Matthew Houk has joined Bonterra’s board of directors (the “Board”) as an independent non-executive director, effective immediately. Mr. Houk will serve as a member of the Audit Committee and Technical, Safety and Sustainability Committee of the Board. Following the appointment of Mr. Houk, the Board will now consist of seven directors, four of whom are independent.

Since 2008, Mr. Houk has served as a Portfolio Manager and Research Analyst at Horizon Kinetics LLC, where he is involved in the identification, analysis and monitoring of certain investment opportunities for the firm. Matt is also the Chairman, Chief Executive Officer, and Chief Financial Officer of Winland Holdings Corporation. Matt also serves on the board of directors of Lamington Road DAC, an Irish designated activity company focused on managing a portfolio of life settlements. Previously, Matt was with Goldman, Sachs & Co. He received a BA in Economics and Political Science from Yale University.

“We feel privileged to have Horizon Kinetics, a New York-based asset manager, as a shareholder and to welcome Matt Houk to the Board,” said Cesar Gonzalez, Executive Chairman of Bonterra. “Our initial connection with Matt dates back to early 2023 when he reached out to the Company, seeking a deeper understanding of our fundamentals. Throughout this period, Matt has not only acquired shares of the Company but has also shared valuable insights from his experiences as an investor in other publicly traded companies that he believes are deeply undervalued. We look forward to working with Matt and Horizon Kinetics.”

“I am excited to be joining the Board at this time,” said Mr. Houk. “Horizon Kinetics not only excels in identifying deeply discounted companies for investment but also distinguishes itself by occasionally joining the boards of certain companies. This active engagement serves to deepen our understanding of fundamentals and fosters collaboration with management teams.”

In conjunction with Mr. Houk’s appointment to the Board, he is being granted incentive stock options to acquire a total of 300,000 common shares of the Company pursuant to the Company’s stock option plan and subject to any regulatory approval. Additionally, Paul Jacobi, who joined the Board in October 2023, is also being granted incentive stock options to acquire a total of 300,000 common shares of the Company. Each stock option, vests immediately and is exercisable at a price of $0.20 per share for a period of five years from the grant date.

ABOUT BONTERRA

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. on the Urban-Barry property, which includes the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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.

Val-d’Or, QC – January 18, 2024 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce that exploration drilling has started on the newly named Phoenix JV (formerly known as the Urban-Barry Property) (the “Project”) as part of the definitive earn-in and joint venture agreement (the “Agreement”) with Osisko Mining Inc. (“Osisko” or the “Operator”). Under the Agreement, Osisko has the right to acquire up to a 70% interest in the Project by spending $30 million in work expenditures, with a minimum spending commitment of $10 million per year over a three-year period (see press release dated November 28, 2023).

Osisko plans to drill over 35,000 meters (“m”) on the Project in 2024, which Osisko expects will meet its minimum spending commitment of $10 million per year under the Agreement. The Operator has identified multiple targets on the Project, including the Moss target, which is located only five kilometres south-west from the Windfall Gold deposit and shows a similar geological character to the Lynx Zone. The Moss target will be tested along the Mazères Fault that runs across both the Lynx Zone and the Moss target.

Osisko plans to mobilize up to five drill rigs during the year, primarily along the Mazères Fault on the east and west sides of the Gladiator and Barry deposits and the Moss target (see Figure 1).

Marc-André Pelletier, Chief Executive Officer, and President of the Company commented “The start of exploration drilling by Osisko represents an important milestone in the development of the Project. With a $10 million exploration budget in 2024 and leveraging Osisko’s expertise in this exciting new gold camp, we believe we are well positioned for significant exploration success. In addition, the Company intends to continue exploring its 100%-owned Desmaraisville Property near the Bachelor Mill Complex in 2024. Compilation work from the 15,000 m drill program carried out in 2023 is ongoing and drilling results are expected to be released throughout Q1 2024. Last year’s exploration drilling combined with two geophysical surveys, also conducted in 2023, are expected to generate additional and promising drill targets to be tested later this year.”

Qualified Person

M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, has reviewed and approved the information contained in this press release.

ABOUT BONTERRA

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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.

Val-d’Or, QC – December 14, 2023 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the completion of a highresolution helicopter-borne gravity survey and the commencement of a ground induced polarization (“IP”) survey at its Desmaraisville North and South Properties (the “Properties”). These comprehensive gravity and IP surveys are expected to assist the Company in its 2024 exploration program by generating exploration targets.

Bonterra contracted Sander Geophysics Ltd (“SGL”) based in Ottawa, Ontario to conduct a high-resolution helicopter-borne gravity survey on its Properties (Figure 1). The survey consisted of a total of 1,583 line-kilometers (“km”) at 200 meters (“m”) flight-line spacing and flown at a 60 m elevation over the entirety of the Properties. The purpose of the survey is to identify potential target areas of gold enrichment in enhanced basement alteration associated with large structural corridors and as well to identify potential targets for base metals (Zn, Pb and Ag) and strategic metals (Ni and Cu) associated with volcanic and ultramafic geological environments. The survey was completed in November and preliminary data has already been received. The final report and interpretations are expected by year end.

Bonterra has also contracted Abitibi Geophysics Inc. (“AG”) of Val-d’Or, Quebec to carry out an 85 line-km OreVision® 2D IP survey at its Desmaraisville South Property (Figure 2). The survey consists of a total of 80 line-km with a configuration of a = 37.5 m and n = 1 to 20 for a depth of investigation of 300 m. The surveyed area covers the Opawica-Guercheville corridor of deformation where numerous gold showings have been previously discovered and historical gold mineral resources have been estimated. The survey is expected to be completed by year end and will be used in combination with the gravity survey to identify and explore disseminated and massive sulfide mineralized zones in the Company’s as part of the Company’s 2024 exploration program.

In early December, Bonterra mobilized one drill rig south of the old Coniagas Mine to drill test the deep southwest plunge of a zinc, lead, and silver mineralized orebody (Table 1). InnovExplo of Val-d’Or, Quebec was contracted to compile and generate this exploration drill target. After the completion of the 900 m deep hole, Bonterra intends to contract AG to complete an InfiniTEM® XL BHEM survey with a patented loop configuration with depth potential up to 1,000 m. Historical production at Coniagas was over 700,000 tonnes at 10.8% Zn, 1% Pb and 183 g/t Ag.

Marc-André Pelletier, President and CEO commented: “Bonterra has redirected its exploration efforts to the 100%-owned Desmaraisville property located near the Bachelor Mill Complex after entering into an earn-in and joint venture agreement with Osisko Mining Inc. on the Urban-Barry property. The abovementioned geophysics surveys, combined with the 15,000 m drilling program currently underway, will be used to identify a fresh set of exploration targets for future drilling campaigns. We believe that the Desmaraisville property has very good potential for new discoveries in both gold and base metals, particularly around the O’Brien intrusive – host of the Bachelor-Moroy deposits and the newly discovered Desmaraisville South lens, and along the Opawica-Guercheville corridor. This regional deformation corridor, which crosses Bonterra’s property for more than 20 km, is conducive to discoveries and has had very little exploration activity in the past.”

Qualified Person

M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, oversees all exploration activities on the Desmaraisville Properties and has compiled and approved the information contained in this press release.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-279-9304 | 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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 forwardlooking 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.

Val-d’Or, QC – December 4, 2023 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the first drill results of its 15,000 meters (“m”) drill program at its Desmaraisville South project. Three diamond drill rigs have been mobilized on the project and are currently drill-testing several new geological and geophysical targets along with historical near surface gold mineralization along the edges of the O’Brien Syenite Intrusion (“O’Brien Intrusive”).

Located within three kilometers (“km”) of the Bachelor Mill Complex, three different areas were drill tested for their near surface gold potential. These areas are located North, East, and South of the O’Brien Intrusive (Figure 1).

At the Southern Area (“South Area”), several new drill targets were generated from the reinterpretation of previously intersected gold bearing structures. This reinterpretation was done with the use of the Bonterra drill hole database and the historical 3D models of high-grade gold intercepts drilled previously. Bonterra has drilled to date a total of 17 diamond drill holes (4,332 m) at the South Area (Figure 2 and Table 1).

Highlights include:

• 10.97 g/t Au over 10.1 m, including 16.36 g/t Au over 4.7 m in hole BRDS-23-018
• 4.79 g/t Au over 6.3 m, including 9.03 g/t Au over 1.5 m in hole BRDS-23-016
• 2.65 g/t Au over 4.2 m in hole BRDS-23-016

Marc-André Pelletier, President and CEO commented: “After entering into an earn-in and joint venture agreement with Osisko Mining Inc. in the Urban-Barry camp, our Company has redirected its exploration efforts to focus on our 100%-owned Desmaraisville projects, which is close to where the Bachelor Mill Complex is situated. The current 15,000 m drill program aims to explore new targets across our land package and validate our improved geological interpretation. The recent discovery of mineralized zones at Desmaraisville South supports our current understanding of the gold potential, indicating similarities to the Bachelor and Moroy deposits on the western side of the O’Brien Intrusive, located about 3 km from the Bachelor Mill. The ongoing drill program with three rigs, set to conclude this year, should provide valuable insights that will guide our future exploration strategy. It is to be noted that the nearby Bachelor Mine historically produced over 350,000 ounces of gold from two million tonnes at a grade of 5.0 g/t Au.”

The drilling encountered several sub-parallel hematite and silica rich altered zones with trace to 8% fine grained and disseminated pyrite which host the gold mineralization (Table 2 and Figure 2). From hole to hole, these mineralized zones show various orientations and suggest that the gold mineralization is related to a large complex with brittle zones of various orientations and plunges. Many assays are still pending from the 3,955 submitted samples.

Bonterra’s review of the historical database demonstrated a lack of systematic sampling. Several gold mineralized intervals were not sampled above and below the mineralization. Bonterra will conduct a re-sampling program in early 2024. When all analytical data is received, Bonterra will update its 3D model including the geology, alteration, structures, and mineralization to better understand and evaluate the near surface gold potential of the South Area.

Quality Control and Reporting Protocols

The Desmaraisville project’s drill core gold analyses are performed at Activation Laboratories (Actlabs) located in Ste-Germaine-Boulé and Val d’Or, Quebec and at the Agat Laboratory in Val d’Or. The external laboratory 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 and with gravimetric finish for assay above 10 g/t Au at both Actlabs and Agat. 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 5 to 10% of the 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. For the South Area, a total of 3,955 drill core samples and 702 QA-QC samples, have been sent to Activation Laboratories Ltd and Agat Laboratory.

Qualified Person

M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, oversees all exploration activities on the Desmaraisville South Project and has compiled and approved the information contained in this press release.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-279-9304 | 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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 forwardlooking 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.

Val-d’Or, QC – November 30, 2023 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to report it has recovered and sold 1,346.5 ounces of gold in total, generating gross revenue of C$3.6 million (including the first gold sale announced on August 9, 2023) from the Bachelor Mill cleanup process. The costs associated with the sales, which include gold recovery efforts, shipment, royalty payments and refining represent a total of C$0.9 million for a net revenue of C$2.7 million.

Marc-André Pelletier, President and CEO commented: “Following the receipt of an additional C$4 million from the recent transaction with Osisko Mining and the abovementioned gold sales, the Company should now have enough funds to complete this year’s 15,000 meters drill campaign at our 100%-owned Desmaraisville properties. There is presently three drill rigs turning at Desmaraisville focusing on high-grade intercepts that were previously drilled but not followed up on and other regional exploration targets that have never been drilled.

Throughout the year, we have creatively generated revenue and significantly reduced expenses while diligently spending on exploration work. I would like to thank our employees for their dedicated efforts in making these achievements possible.”

Qualified Person

Marc-André Pelletier, P.Eng., (OIQ # 113978) President and CEO of the Company has verified and approved the information contained in this press release. Mr. Pelletier is a qualified person as defined by National Instrument 43-101 on standards of disclosure for mineral projects.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company’s assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.

In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic transaction highlights Bonterra’s dedication to advancing its exploration assets, marking a significant step towards development.

FOR ADDITIONAL INFORMATION

Marc-André Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-279-9304 | 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.

Caution regarding 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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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.