Author: Admin

Val-d’Or, QC – January 16, 2026 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) announces that the Canada Revenue Agency (“CRA“) is completing a tax audit (the “Audit“) of the Company’s renunciation of Canadian exploration expenses (“CEE“) in favour of subscribers of the private placements of flow-through shares which closed in December 13, 2019 and October 21, 2021 (the “Flow-Through Financings“) for aggregate gross proceeds of approximately C$16.96 million. Renunciations made pursuant to other flow-through offerings by the Company are not affected by the Audit.

CRA has notified the Company of CRA’s intention to reclassify approximately C$11.05 million of previously renounced CEE on the basis that they did not meet the definition of CEEs, as defined for income tax purposes (the “Proposed Tax Adjustments“). CRA’s notification relies on the incorrect assumption that the Moroy Deposit constitutes an extension of the Bachelor Mine, a finding that Bonterra strongly disagrees with. Bonterra has voiced its disagreement with the Proposed Tax Adjustments and the audit process followed by the CRA, and intends to continue to vigorously defend its position by objecting to any forthcoming notice of reassessment.

CRA will contact directly the subscribers of the Flow-Through Financings regarding a reassessment of deductions claimed in connection with the related CEEs. It is to be expected that the CRA will begin by providing notice of reassessments to subscribers in the December 2019 flow through financing (TIN#48427 and TIN#48428), with the other reassessment following later this year (TIN#49934). The Company anticipates that the reductions in renounced CEE will be made on a pro rata basis among all subscribers of the same financing. 

The Company agreed to indemnify subscribers for tax attributable to disallowed renunciations of CEE pursuant to the terms of the subscription and renunciation agreements entered into by the Company and the subscribers in connection with the Flow-Through Financings. The Company invites subscribers of the Flow-Through Financings who receive a notice of reassessment from CRA in connection with the Proposed Tax Adjustments to contact the Company as soon as possible in connection with this right of indemnification for more information about next steps. To support the Company’s appeal, subscribers may need to file a notice of objection in respect of their reassessment.

The maximum aggregate amount of the Company’s exposure with respect to the indemnification obligation from the Flow-Through Financings, together with interest and penalties payable to CRA, and anticipated Part XII.6 tax payable under section 211.91 of the Income Tax Act, is presently estimated to be approximately C$9.5 million, although the initial liability anticipated in respect of the initial reassessment’s that will be issued by CRA will be closer to C$3 million.  The Company expects to account for this liability in its financial statements for the year ending December 31, 2025.  This provision does not include any provision for the effect, if any, of the reclassification on provincial tax credits received by the Company.

The Company is actively working to address the obligations resulting from the Proposed Tax Adjustments and will provide additional information when 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 the estimated liability resulting to the Company, the allocation of the reductions amongst subscribers, the timing of delivery of reassessments to subscribers of the Flow Through Financings, and the Company’s defense of its position.  In making these statements, management has relied on a number of assumptions, including the anticipated impact of the reassessments on tax payable by past subscribers, how the reassessments will be allocated, that there will be no changes to CRA’s position on the Proposed Tax Adjustments or other CEE renounced by the Company, and that the reclassification will not affect the Company’s provincial tax credits and renunciations. 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, that may cause actual results to differ materially from those expressed or implied. 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 – July 9, 2025 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to provide an update on its 2025 exploration plans at its 100% owned Desmaraisville South Project (the “Project”). During the first half of the year, Bonterra’s geology team has diligently worked on a comprehensive reinterpretation of the geological setting surrounding the Bachelor Mill Complex. Leveraging the advanced capabilities of VRIFY’s AI-Assisted Mineral Discovery Platform known as DORA, the team has identified several high-potential drill targets. As a result, Bonterra is planning a 10,000 to 12,000 meters (“m”) drill program expected to be completed by year-end (See Figure 1, which highlights the targeted areas, including those selected with the assistance of VRIFY’s DORA). Marc-André Pelletier, President and CEO commented: “At our 100% owned Desmaraisville South Project, Bonterra’s exploration strategy is focused on discovering new mineralized zones near the Bachelor Mill Complex. The 2025 exploration program builds on the success of the 2024 drilling campaign, which identified several high-priority targets. We also plan to test additional promising targets selected with the assistance of VRIFY’s DORA. With the recent completion of our upsized financing, Bonterra is fully funded to execute on this year’s exploration plans.”

2025 Exploration Plans

• Drill 10,000 to 12,000 m near the Bachelor Mill Complex, including the Mistik 13, Hewfran and other targets, including a predominantly base metals target and VRIFY’s AI generated targets.
• Carry out field work, focusing on mapping, soil and rock geochemical sampling.
• Reinterpret the 2023 gravimetric geophysical surveys.

Figure 1: Desmaraisville South Project – Prospective Drill Targets

Bachelor Mill Complex

Bonterra owns 100% of the Bachelor Mill Complex, a strategically important asset for future mining operations within the Desmaraisville camp. The fully operational mill has a current capacity of 800 tonnes per day (“tpd”) and is powered by low-cost and sustainable hydroelectric grid power. Permitting is underway to support a potential expansion to 1,800 tpd. The complex also includes a fully equipped assay laboratory capable of processing approximately 6,000 samples per month, as well as a 100-person camp, offices, workshops, and core logging facilities.

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 an earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties (the “JV Agreement”), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian subsidiary, completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). 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, Québec 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 a joint venture agreement with Osisko Mining announced on November 28, 2023, and the acquisition of Osisko Mining by Gold Fields announced on August 12, 2024. 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 spacing 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 – July 2nd, 2025 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to provide exploration updates being led by a 100% indirect subsidiary of Gold Fields Ltd (“Gold Fields” or the “Operator”) at the Phoenix JV (the “Project”). The Project is under a definitive earn-in and joint venture agreement (the “JV Agreement”) with Gold Fields. Under the JV Agreement, Gold Fields has the right to acquire a 70% interest in the Project by spending C$30 million in work expenditures, with a minimum spending commitment of C$10 million per year over a three-year period (see press release dated November 28, 2023, for more details).

Marc-André Pelletier, President and CEO commented: “Progress at the Phoenix JV is well underway, with geophysical surveys, mapping, and soil sampling currently in progress. These initiatives, combined with a 15,000 meter drill program scheduled to begin in August, offer promising potential for new discoveries at the Phoenix JV, particularly at the Gladiator NE-Titan targets where near surface economic values have been intercepted before. We look forward to continuing our collaboration with Gold Fields as we work to advance Quebec’s newest emerging gold camp.”

2025 Exploration Program updates

To date, over 65,000 meters (“m”) have been drilled, with approximately C$20 million invested in the Project under the JV Agreement. The current work includes two gravity surveys, one airborne and one ground base, as well as field activities such as soil sampling, prospecting and mapping of outcrops and review of historical trenches. Gold Fields is currently preparing a 15,000 m drill program, with final target selection subject to internal review and prioritization. Several promising targets have already been identified, based on historical gold showings, previous drill results, and geophysical survey data (see Figure 1). Gold Fields intends to deploy three drill rigs, primarily focused along the Barry Shear Zone at the Gladiator NE and Titan targets. The program will also explore additional areas including Duke NE, Chanceux, the Tourmaline Ridge Extension, Rouleau Till, and Cominco. Some of these targets exhibit multiple mineralized indicators, several of which show economically significant values. Additionally, field work combined with a gravity airborne survey is ongoing. The 2025 exploration program will generate new targets once the results are analyzed later this year.

Figure 1 – Phoenix JV Project – Surface Plan View with Completed Drill holes, Historical Drill Hole Assay Results and 2025 Drill Target Areas

Gladiator NE and Titan targets The Gladiator NE sector, including the Titan target, is crossed by the Barry Deformation Zone, hosts to the Gladiator deposit which contains 0.39 million ounces of Measured and Indicated Mineral resources and 0.99 million ounces of Inferred Mineral resources, as reported in the 2021 mineral resource estimate (“2021 MRE”). Titan’s previous drill hole BA-18-116 returned an intersection of 12.4 g/t Au over 5.3 m and drill hole BRS 17-11 returned 7.7 g/t over 3.0 m, including 23.2 g/t over 1.0m (see Bonterra’s press release dated November 20, 2018, and January 21, 2019), confirming the discovery potential along the Barry fault (see Figure 2). The geological setting is similar to that of Gladiator deposit, with gabbroic sills and felsic intrusions associated with gold mineralization.

Figure 2 – Phoenix JV Project – Longitudinal View of Gladiator deposit and Titan target area

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

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 (the “JV Agreement”), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian subsidiary, completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). 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 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. 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 the ability and timing of the parties to complete the Joint Venture (if at all), whether the work expenditures would be incurred as contemplated in the Agreement (or at all), the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in the Company’s recent securities filings available at www.sedarplus.ca. 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.

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 – June 30, 2025 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the closing of its previously announced “best efforts” private placement (the “Offering”) for gross proceeds of $10,500,000, selling (i) 22,727,272 “hard-dollar” units of the Company (“HD Units”) at a price of $0.22 per HD Unit (the “HD Issue Price”); (ii) 14,583,333 “flow-through” units of the Company (“FT Units”) at a price of C$0.24 per FT Unit; and (iii) 6,557,377 “flow-through” units of the Company (“Premium FT Units” and, together with the HD Units and the FT Units, the “Offered Units”) at a price of C$0.305 per Premium FT Unit. Under the Offering, Canaccord Genuity Corp. (the “Lead Agent”) acted as lead agent and sole bookrunner on behalf of a syndicate of agents that included Cormark Securities Inc. and SCP Resource Finance LP (collectively, the “Agents”). Each Unit consists of one common share of the Company (each, a “Unit Share”) and one half of a common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each FT Unit and each Premium FT Unit consists of one common share of the Company (each, a “FT Share”) and one half of a Warrant. The FT Shares and Warrants comprising the FT Units and Premium FT Units will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). Each Warrant (including those Warrants comprising the FT Units and Premium FT Units) entitles the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.30 at any time on or before June 30, 2028.The Warrant Shares will not qualify as “flow-through shares” within the meaning of subsection 66(15) of the Tax Act. The Offered Units were sold pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 (“NI 45-106”). The Offered Units are immediately freely tradeable under applicable Canadian securities legislation for Canadian purchasers. The Offering is subject to certain conditions including, but not limited to, the receipt of all required regulatory approvals including final approval of the TSX Venture Exchange. The Company intends to use the net proceeds from the Offering to fund ongoing operations for the next twelve (12) months, all as further detailed in the Offering Document. The net proceeds from the sale of the HD Units will be used for general corporate and administrative matters. The gross proceeds from the sale of FT Units and Premium FT Units will be used by the Company pursuant to the provisions in the Tax Act to incur eligible “Canadian exploration expenses” as defined in s. 66.1(6) of the Tax Act that qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act and to renounce all such expenditures in favour of the subscribers of the FT Units and Premium FT Units effective December 31, 2025. In connection with the Offering, the Company paid to the Agents an aggregate cash commission of $602,946.39 and issued to the Agents an aggregate of 2,509,108 broker warrants (the “Broker Warrants”). Each Broker Warrant entitles the holder to acquire one common share of the Company at the HD Issue Price until June 30, 2027. Insiders of the Company directly or indirectly acquired 6,557,377 Offered Units. The issuance of Offered Units to insiders is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of

the securities in the United States of America. The securities sold in the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. “United States” and “U.S. person” have the meaning ascribed to them in Regulation S under the 1933 Act. 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 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, the timing of final 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 conditions, as described in more detail in our recent securities filings available at www.sedarplus.ca. 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.

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 – June 13, 2025 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce that due to strong market demand, it has agreed with its agents Canaccord Genuity Corp. (lead agent and sole-bookrunner) (“Canaccord Genuity”), Cormark Securities Inc. and SCP Resource Finance LP (together with Canaccord Genuity, the “Agents”), to increase the size of its previously announced brokered “best efforts” private placement. As a result of this amendment, the offering will now consist of of (i) up to 22,727,272 “hard-dollar” units of the Company (“HD Units”) at a price of $0.22 per HD Unit (the “HD Issue Price”); (ii) up to 14,583,333 “flow-through” units of the Company (“FT Units”) at a price of C$0.24 per FT Unit; and (iii) up to 6,557,377 “flow-through” units of the Company (“Premium FT Units” and, together with the HD Units and the FT Units, the “Offered Securities”) at a price of C$0.305 per Premium FT Unit, for aggregate for gross proceeds of up to approximately $10,500,000 pursuant to the listed issuer financing exemption available under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”). The Agents will no longer have the previously disclosed “Agents’ Option” to increase the size of the Offering prior to the Closing Date. Each HD Unit will consist of one common share of the Company (a “Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.30 for a period of three years from the date of issuance. Each FT Unit and Premium FT Unit will consist of one Share and one half Warrant, each of which will qualify as a “flow-through share” (within the meaning of subsection 66(15) of the Income Tax Act (Canada). For certainty, the proceeds from the exercise of the Warrants will not be flow-through eligible. There is an amended and restated offering document, dated June 13, 2025, relating to the Offering (the “Offering Document”) that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.btrgold.com. Prospective investors in the Offering should read the Offering Document before making an investment decision. Completion of this Offering will occur on June 30, 2025 or on such date as may be agreed upon by the Company and Canaccord Genuity (the “Closing Date”). Closing of the Offering is subject to certain customary conditions including receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Offered Securities issued pursuant to the Offering will not be subject to any hold periods pursuant to applicable Canadian securities laws. The Company intends to use the net proceeds from the Offering to fund ongoing operations for the next twelve (12) months, all as further detailed in the Offering Document. The net proceeds from the sale of the HD Units will be used for general corporate and administrative matters. The gross proceeds from the sale of FT Units and Premium FT Units will be used by the Company pursuant to the provisions in the Income Tax Act (Canada) (the “Tax Act”), to incur eligible “Canadian exploration expenses” as defined in s. 66.1(6) of the Tax Act that qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units and Premium FT Units effective December 31, 2025. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities to be sold in the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. “United States” and “U.S. person” have the meaning ascribed to them in Regulation S under the 1933 Act.

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 tax treatment of the securities, regulatory approval, anticipated completion of the Offering, 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, 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. 

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 – June 12, 2025 – 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 Canaccord Genuity Corp. to act as lead agent and sole-bookrunner (“Canaccord Genuity”) on behalf of a syndicate of agents including Cormark Securities Inc. and SC Resource Finance LP (together with Canaccord Genuity, the “Agents”), in connection with a brokered “best efforts” private placement of (i) up to 20,454,545 “hard-dollar” units of the Company (“HD Units”) at a price of $0.22 per HD Unit (the “HD Issue Price”); (ii) up to 2,083,333 “flow-through” units of the Company (“FT Units”) at a price of C$0.24 per FT Unit; and (iii) up to 6,557,377 “flow-through” units of the Company (“Premium FT Units” and, together with the HD Units and the FT Units, the “Offered Securities”) at a price of C$0.305 per Premium FT Unit, for aggregate for gross proceeds of up to approximately $7,000,000 pursuant to the listed issuer financing exemption available under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) as amended by Coordinated Blanket Order 45-935, in each of the Provinces of Canada (the “Offering”). The Offered Securities issued to Canadian resident subscribers will not be subject to a hold period pursuant to applicable Canadian securities laws. The Company has granted the Agents an option (the “Agents’ Option”) to sell additional Offered Securities for up to 15% of the number of securities sold in connection with the Offering. The Agents’ Option is exercisable in whole or in part at any time, up to the Closing Date (as defined below) and can be exercised for HD Units, FT Units or Premium FT Units or any combination thereof. Each HD Unit will consist of one common share of the Company (a “Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.30 for a period of three years from the date of issuance. Each FT Unit and Premium FT Unit will consist of one Share and one half Warrant, each of which will qualify as a “flow-through share” (within the meaning of subsection 66(15) of the Income Tax Act (Canada). For certainty, the proceeds from the exercise of the Warrants will not be flow-through eligible. There is an offering document relating to the Offering (the “Offering Document”) that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.btrgold.com. Prospective investors in the Offering should read the Offering Document before making an investment decision. Completion of this Offering will occur June 30, 2025 or on such date as may be agreed upon by the Company and Canaccord Genuity (the “Closing Date”). Closing of the Offering is subject to certain customary conditions including receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Offered Securities issued pursuant to the Offering will not be subject to any hold periods pursuant to applicable Canadian securities laws. The Company intends to use the net proceeds from the Offering to fund ongoing operations for the next twelve (12) months, all as further detailed in the Offering Document. The net proceeds from the sale of the HD Units will be used for general corporate and administrative matters. The gross proceeds from the sale of FT Units and Premium FT Units will be used by the Company pursuant to the provisions in the Income Tax Act (Canada) (the “Tax Act”), to incur eligible “Canadian exploration expenses” as defined in s. 66.1(6) of the Tax Act that qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act (or would so qualify if the references to “before 2026” in paragraph (a) of the definition of “flow through mining expenditure” in subsection 127(9) of the Tax Act were read as “before 2027” and the references in paragraphs (c) and (d) of that definition to “before April 2025” were read as “before April 2026”) (the “Qualifying Expenditures”) related to the Company’s projects, on or before December 31, 2026 (or such other period as may be permissible under applicable tax legislation), and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units and Premium FT Units effective December 31, 2025.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities to be sold in the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. “United States” and “U.S. person” have the meaning ascribed to them in Regulation S under the 1933 Act.

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 tax treatment of the securities, regulatory approval, anticipated completion of the Offering, 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, 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 – June 11, 2025 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) announces election results of its 2025 annual general meeting held on June 11, 2025 (“2025 AGM”), representing its fiscal year ended 2024. Bonterra is pleased to announce that shareholders have approved all matters voted on at the 2025 AGM, including: (i) to set the number of directors at seven (7); (ii) to re-elect Messrs. Cesar Gonzalez, MarcAndré Pelletier, Normand Champigny, Paul Jacobi, Matt Houk, Lesley Antoun and Peter O’Malley as Directors; (iii) to appoint the Crowe MacKay LLP, as auditors of the Company for the ensuing year and to authorize the directors to fix their remuneration; and (iv) to consider and, if deemed advisable, adopt with or without variation, an ordinary resolution to approve the Company’s Omnibus Equity Incentive Compensation Plan. Details in respect of such matters were provided in the Company’s management information circular dated May 6, 2025. A total of 77,193,201 common shares were voted at the Meeting, representing approximately 46% of the common shares issued and outstanding as of the record date. Results from the vote are presented in the table below:

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 (the “JV Agreement”), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). 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 spacing 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 – April 25th, 2025 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) announces the grant of incentive stock options to acquire a total of 1,875,000 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 $0.26 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 a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties (the “JV Agreement”), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). 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 – April 7, 2025 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the closing of a non-brokered private placement (the “Offering”) pursuant to which the Company sold 1,625,000 units of the Company (each, a “Unit”) at a price of $0.20 per Unit for gross proceeds of $325,000. Each Unit consists of one common share of the Company (each, a “Share”) and one half of one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of $0.26 for a period of two years from the date of closing, subject to acceleration of the expiry date upon the occurrence of certain events. 

The Shares and Warrants are subject to a four-month plus one day restricted period in Canada ending on August 5, 2025. 

$19,500 in finder’s fees were paid to an arms’ length finder, in connection with the Offering. 

Marc-André Pelletier, President and CEO, commented: “This placement was a highly targeted equity raise aimed at a handful of European investors with whom we’ve been building relationships since last summer, when we began actively marketing in the region. We greatly appreciate the support and confidence demonstrated by this select group and look forward to continuing to build strong relationships across Europe.” 

The gross proceeds from the sale of Units will be used to fund exploration activities at the Company’s projects and for general working capital. 

The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. persons or any persons within the United States absent registration or available exemptions from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. ‘United States’ and ‘U.S. person’ are as defined in Regulation S under the U.S. Securities Act. 

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 an earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties (the “JV Agreement”), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). 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. 

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 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, the timing of final 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. 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 – March 19, 2025 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to report the first assay results from the Gladiator Southwest (“Gladiator SW”) target and announce details of the 2025 exploration program being led by a 100% indirect subsidiary of Gold Fields Ltd (“Gold Fields” or the “Operator”) at the Phoenix JV (the “Project”). The Project is under a definitive earn-in and joint venture agreement (the “JV Agreement”) with Gold Fields (previously, Osisko Mining Inc.). Under the JV Agreement, Gold Fields has the right to acquire a 70% interest in the Project by spending C$30 million in work expenditures, with a minimum spending commitment of C$10 million per year over a three-year period (see press release dated November 28, 2023, for more details). 

Marc-André Pelletier, President and CEO commented: “Gold Fields has achieved significant progress in exploration near their high-grade Windfall project, identifying multiple promising targets for further drilling. With over half of the planned joint venture expenditures already completed in the first year, we look forward to continued collaboration to advance Quebec’s newest emerging gold camp.” 

First Assay Results from the Gladiator SW Target 

To date, over 65,000 meters (“m”) have been drilled, with approximately C$18 million invested in the Project under the JV Agreement. This includes 5,700 m (13 drill holes) completed at the Gladiator SW Target along the Barry Shear Zone by the end of 2024 (see Figure 1 – Plan View of Gladiator SW Target). Additionally, a detailed review of core samples from both the Barry and Gladiator deposits was conducted to improve geological understanding. These deposits contain a combined 1.08 million ounces of Measured and Indicated Mineral resources and 1.68 million ounces of Inferred Mineral resources, as reported in the 2021 mineral resource estimate (“2021 MRE”). 

Highlight at the Gladiator SW Target: 

• 20.3 g/t Au over 1.5m, in hole PHX-24-0119 

2025 Phoenix JV Exploration Program Updates by Gold Fields 

Gold Fields is currently preparing a potential 15,000 m drill program, with final target selection subject to internal review and prioritization. Several promising targets have already been identified, based on historical gold showings, previous drill results, and geophysical survey data (see Figure 2 – Plan View of Target Areas on the Phoenix JV). 

Gold Fields intends to deploy three to four drill rigs, primarily focused along the Barry Shear Zone at the Gladiator NE and Titan targets. The program will also explore additional areas such as Duke NE, Chanceux, the Tourmaline Ridge extension, and Rouleau Till. Diamond drilling is expected to commence later this year upon approval. Additionally, a gravity airborne survey and associated fieldwork are being planned for the upcoming summer. 

Figure 1- Phoenix JV Project – Surface Plan View with Completed Drill holes at Gladiator SW Target 

Figure 2- Phoenix JV Project – Surface Plan View with Completed Drill holes and 2025 Drill Target Areas 

Table 1: Drill Hole Locations – Phoenix JV, Gladiator SW Target 

Hole ID	Easting	Northing	Elevation (m)	Azimuth (°)	Dip (°)	Length (m)
PHX-24-0119	454635	5427686	404	152	-48.7	552

UTM Coordinates, System: NAD83 Zone 18N 

Table 2: Significant Mineralized Intersections from Drilling on the Gladiator SW Target 

Hole ID	Including	From (m)	To (m)	Length (m)	Grade (Au g/t)	Metal Factor (length x grade)
PHX-24-0119	X	82.1	83.6	1.5	20.3	30.45

1) True width determination is currently unknown but is estimated from 55 to 80% of the reported core length interval for the zone. 

2) Assays are uncut except where indicated. 

3) Intercepts have not been correlated to individual zones or vein domains at this time. 

Quality Control and Reporting Protocols (adopted by Gold Fields) 

NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-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 Gold Fields 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 

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 (the “JV Agreement”), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian subsidiary, completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). 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 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. 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 the ability and timing of the parties to complete the Joint Venture (if at all), whether the work expenditures would be incurred as contemplated in the Agreement (or at all), the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in the Company’s recent securities filings available at www.sedarplus.ca. 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.