Category: Uncategorized

Val-d’Or, QC – August 20, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) announces that Christina Ouellette has resigned as a Director of the Company, effective immediately. The Board of Directors thanks Mrs. Ouellette for her dedicated service to Bonterra and wishes her well in her retirement.

In addition, Bonterra is pleased to announce the appointment of Jean Rainville as an independent non-executive Director of the Company, effective immediately. Mr. Rainville has over 40 years of experience in the mining industry and financial markets. From 2008, his principal occupation was President and CEO of Blackrock Metals Inc. In 2018, Mr. Rainville ceased to serve as CEO, while retaining his position as President until late 2019, at which time he became a consultant. Previously, Mr. Rainville worked as an engineer, a fund manager and a director of corporate finance and has also served as a director or advisor for several public companies. He holds bachelor’s degrees in Mining Engineering and Commerce, both from McGill University.

Cesar Gonzalez, Chairman of Bonterra commented: “The addition of Jean Rainville as an independent non-executive Director is another positive milestone in the restructuring of Bonterra. Jean’s extensive experience in the mining industry, especially in Quebec, will prove invaluable. We have now completed the reconstitution of our Board of Directors and look forward to focusing our attention on the exploration and development of the Company’s assets.”

In connection with Mr. Rainville’s appointment to the Board of Directors, Bonterra granted him incentive stock options to acquire a total of 300,000 common shares of the Company pursuant to he Company’s stock option plan and subject to any regulatory approval. Each stock option, vests immediately and is exercisable at a price of $1.54 per share for a period of five years from the grant date.

FOR ADDITIONAL INFORMATION:

Pascal Hamelin, Interim CEO and VP, Operations
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.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.

Val-d’Or, QC – July 30, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to announce an increase of 5,000 tonnes to its now 10,000 tonnes bulk sample currently underway at the Moroy Project.

In December 2019, the Ministry of Energy and Natural Resources (“MERN”) gave approval to extract 5,000 tonnes of mineralized material from the Moroy zone. This week, the MERN authorized an additional 5,000 tonnes, bringing the total to 10,000 tonnes to be extracted in the Moroy zone bulk sample program. Bonterra requested this increase following initial long-hole drilling results indicating the mineralized zone was thicker than initially expected.

The bulk sample program at the Moroy project is being undertaken in order to verify the grade continuity within the mineralized structure and reconcile the resource grade to the recovered ounces following processing.

The bulk sample is focused on the M1 shear zone on level 11, 440 metres (“m”) below surface. The plan is to mine the zone from an existing exploration drift starting from the Bachelor shaft 900 m to the north of the Moroy zone. The M1 structure is sub-vertical and the company plans to extract it via a sub-level long-hole stoping method at 15 m intervals.

The company began the bulk sample program in January with long-hole drilling. Drilling was underway when Bonterra ceased all activities due to the advent of the Covid-19 global pandemic. Work officially resumed on July 15th, with blasting set to begin in the next few days. The broken material will be transported on level 11 to the Bachelor shaft. Once at surface, the mineralized material will be processed onsite at the Bachelor mill under the supervision of a third-party engineering firm. The results of the completed bulk sample program are expected to be announced in Q4 2020.

Qualified Person

Pascal Hamelin, P.Eng. Interim CEO, has approved the information contained in this release. Mr. Hamelin is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”).

FOR ADDITIONAL INFORMATION:

Pascal Hamelin, Interim CEO and VP Operations
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary and Forward-Looking Statements

This 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 Bonterra’s exploration and development plans. 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 – July 14, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to announce that the Company has resumed its 2020 drill program this week at the Moroy, Gladiator and Barry projects that were previously suspended on March 17, 2020 due to the Covid-19 global pandemic. The current program consists of eight drill rigs including five land drill rigs, two barge drill rigs at Barry and Gladiator and one underground drill rig at Moroy.

An additional 56,000 meters (“m”) of drilling is planned for the remainder of 2020, which includes 20,000 m of surface and underground drilling at Moroy, 16,000 m at Gladiator and 20,000 m at Barry. Drilling activities and related exploration work will resume progressively while implementing the Company’s government approved Covid-19 health and safety protocols to protect its workers and the surrounding communities near the projects.

Exploration Objectives

The Company’s objective for the H2 2020 drill program is a balanced approach, which includes deposit in-fill drilling, resource expansion drilling and exploration along known deposit and regional trends. The targeted project areas are as follows (see figures 1, 2 and 3):

• Moroy deposit resource expansion
• Bachelor-Moroy regional exploration
• In-fill drilling and resource expansion at Gladiator
• Duke Option property earlier stage exploration and evaluation of the Lac Rouleau target
• In-fill drilling and resource expansion at Barry
• Barry regional exploration (Barry-Bart-Moss trend) and evaluation
• Greenfield early stage targets along cross-regional corridors of structural decompression

The Bachelor assay lab is operational with Covid-19 confinement and health and safety protocols in place on site. The winter 2020 drilling sampling and assaying backlog is expected to be completed by the end of July. The Company continues to develop and update all geological models at the Gladiator, Barry, and Moroy deposits. The extent and timing of future model updates will be dependent on the amount of winter drilling accomplished.

Bonterra recently staked 231 claims near the Bachelor-Moroy sector. This newly added greenfield land package is located north and west of the Bachelor mine. These new areas are underexplored and lie along an east-northeast regional fault trend within a folded complex with several historic gold occurrences to the northeast. A high-resolution airborne magnetic survey is scheduled for this summer to be followed by mapping and prospecting (see figure 4).

The Company continues the work on permitting and engineering for expansion of the Bachelor mill and tailings facility. Geotechnical drilling is scheduled in July to test the soil type under the location of a future dyke. These results will be incorporated into the detailed tailings expansion design. In addition, the Company continues to advance the permitting to develop an exploration decline at the Gladiator project.

Pascal Hamelin, Interim CEO and VP, Operations commented: “We are very excited to resume our exploration activities in the Urban-Barry and the Bachelor camps as we have excellent targets to follow up on. I wish to thank our employees and suppliers for their continuous support and effort in maintaining all our assets in excellent shape for a safe resumption.”

Qualified Persons

Marc Ducharme, P.Geo. and Bonterra’s Principal Geologist has approved the technical information contained in this release. Mr. Ducharme is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Open the PDF to view the tables and graphs.

FOR ADDITIONAL INFORMATION:

Contact: Pascal Hamelin – Interim CEO and VP, Operations or ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary and Forward-Looking Statements

This 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 Bonterra’s exploration and development plans. 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 – July 7, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) announces that Allan Folk has resigned as a
Director of the Company, effective immediately. The Board of Directors thanks Mr. Folk for his service to Bonterra and wishes him well in his future endeavours.

In addition, Bonterra is pleased to announce the appointment of Peter O’Malley as an independent non-executive Director of the Company, effective immediately. Mr. O’Malley is an investment banker with 29 years of international experience covering natural resources and technology companies. He has executed over $500 billion in transactions across multiple jurisdictions and disciplines including, but not limited to; mergers and acquisitions, equity and debt financings, convertibles, commodities and liability management. He worked at Credit Suisse First Boston for some 13 years in New York and Johannesburg. He eventually moved to Deutsche Bank and was named Head of Natural Resources Investment Banking Asia-Pacific based in Hong Kong. He lived in Hong Kong for 8-years and has an in depth understanding of China’s role in the natural resources sector and in Africa in particular. He received a BA from Siena College in 1988 and a Juris Doctor from St John’s University School of Law in 1991.

Cesar Gonzalez, Chairman of Bonterra commented: “The addition of Peter O’Malley as an independent non-executive Director is another positive milestone in the ongoing restructuring of the Company. Peter’s extensive experience in mergers and acquisitions globally, especially in Asia, will prove invaluable as Bonterra evaluates all paths forward.”

Lastly, Bonterra announces the grant of incentive stock options to acquire a total of 3,000,000 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 $1.54 per share for a period of five years from the grant date.

FOR ADDITIONAL INFORMATION:

Investor relations: Pascal Hamelin
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.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.

Val-d’Or, QC – July 2, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) announces that Greg Gibson having resigned as President and CEO on June 30, 2020, has also resigned as a Director and Chairman of the Board of Directors effective immediately. As a result, the Company also announces that Cesar Gonzalez has been appointed as Chairman of the Board of Directors. Mr. Gonzalez joined the board in April of 2020 and has been instrumental in assisting the Company through the recent corporate restructuring.

In addition, Bonterra is pleased to announce the appointment of Normand Champigny as an independent non-executive Director of the Company, effective immediately. Mr. Champigny is a geological engineer with extensive experience with both public and private companies, both domestically and internationally and is currently the Chief Executive Officer and Director of Quebec Precious Metals Corporation. He has been involved in many facets of the mining industry, including engineering, project evaluation, and project management. Mr. Champigny is a member of the Ordre des Ingénieurs du Québec and Director of Mining Matters. Until recently, Mr. Champigny was an Executive Committee Member of the Prospectors & Developers Association of Canada. He was Chair of the Board of Directors of Minalliance, an organization raising awareness about the mining industry in Quebec and highlighting its positive contribution to Quebec’s social, economic, and environmental development. Mr. Champigny is a graduate from École Polytechnique in Montreal (B.A.Sc), University of British Columbia (M.A.Sc), and Paris School of Mines (Specialized Diploma in Geostatistics).

Cesar Gonzalez, Chairman of Bonterra commented: “Bonterra is very pleased to welcome Normand Champigny as an independent non-executive Director. His extensive experience in gold exploration and development, specifically in Quebec, will provide a greater depth to our Board. Bonterra plans to continue strengthening the team and advancing its assets.”

FOR ADDITIONAL INFORMATION:

Investor relations: Pascal Hamelin
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.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.

Val-d’Or, QC – June 30, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to provide a corporate update including the status of the bulk sampling program at Moroy.

On March 17, 2020, Bonterra announced the immediate suspension of all drilling at its Moroy, Gladiator, and Barry projects, and stopped the bulk-sampling program at Moroy due to the Covid-19 global pandemic. Since that time, the three camps and the Val-d’Or office have been on care and maintenance. Essential employees are maintaining the three sites, and the corporate office. Other employees assigned to geology, and environmental permitting are working remotely where possible.

The Company has developed procedures to protect its workers and the surrounding communities near the projects. These procedures will continue to evolve as more is known about Covid-19. Importantly, the Company is pleased to report no known cases on its projects.

Bonterra recently updated and submitted its health and safety procedures to the Quebec public health authority, the Cree Nation Government of Eeyou Istchee, and the Cree First Nation of Waswanipi and received approval to resume exploration at the Moroy project. The project is located 30 kilometres southwest from the Cree First Nation of Waswanipi. As a result of the approval, the Company now plans to resume the bulk-sampling program at Moroy.

Bulk Sampling Update

The bulk-sampling program at the Moroy project was initiated with the objective to verify the grade continuity in the mineral structure, and to reconcile between the resource grade of a specific area and the resulting mined grade at the mill.

The bulk-sampling is focused on the M1 shear on level 11, 440 metres below surface. The plan is to access the area through a track haulage drift from the Bachelor shaft located 900 metres north of Moroy. The M1 structure has a narrow subvertical configuration that the Company plans to mine using a long-hole-drilling mining method from sub-levels at 15-metre intervals.

In December 2019, the Ministry of Natural Resource issued the authorisation to extract 5,000 tonnes of mineralized material. The Company began the sampling program in January with longhole drilling. The sector was drilled off when the Company put all activity on hold in March as a result of Covid-19. The blasting operations are planned to start in July, with the material hauled on level 11 to the material handling facilities at the Bachelor shaft. Once on surface, the mineralized material will be processed on site at the Bachelor mill under the monitoring of a third party engineering firm. The results of the bulk-sampling program will be published shortly after completion. The bulk-sampling is expected to be completed in Q3.

Exploration Drilling Activities – Winter 2020

Bonterra completed a combined total of 34,558 meters of drilling from twelve drill rigs during winter 2020 on its Gladiator, Barry and Moroy projects (See Table: Bonterra Project Drilling Metres – Winter 2020). On March 17, 2020, Bonterra suspended drilling on all of the projects and placed the three camps on care and maintenance due to the Covid-19 global pandemic. Drilling activities on the lake ice at Barry and Gladiator were partially restricted due to a mild winter resulting in a later program start and ended abruptly due to the pandemic, falling short of the planned 80,000 metres. Some drilling results remain pending where sampling and assaying was slowed due to Covid-19. Now that health protocols are in place, the Bachelor assay lab is running normally. The assay lab is currently focusing on the backlog from this winter and is expected to be caught up by the end of July.

Open the PDF to view the tables and graphs.

Corporate Changes

As previously announced on April 21, 2020, Greg Gibson resigned as CEO of Bonterra effective today. While the Company continues its search for a permanent CEO, in the interim it has promoted Pascal Hamelin, VP, Operations to Interim CEO. The Board of Directors will continue its efforts in recruiting a new President and CEO who will lead the Company into the next phase of growth. The Board of Directors would like to thank Mr. Gibson for his significant contributions to the Company and wish him success in his future endeavours.

In addition, Mr. Jamie Lavigne, VP, Exploration, has resigned from the Company. Mr. Lavigne joined the Company on a consulting basis in the winter 2019 to assist with the completion of the mineral resource estimates on the Company’s projects. Mr. Marc Ducharme will now assume the leadership role in the Company’s exploration programs. Mr. Ducharme joined the Company in September 2019 as Principal Geologist. Mr. Ducharme has over 30 years of geological, exploration, and mining experience predominantly with gold mineralization in the Abitibi region of Quebec. Mr. Ducharme is credited with the discovery of the Kiena Deep orebody deposit in 2016, which is currently being prepared for mining by Wesdome Gold Mines Ltd. at their Kiena Mine in Val-d’Or.

Pascal Hamelin, Interim CEO and VP, Operations commented: “Bonterra has undergone significant changes recently and will continue to make changes where appropriate to maximize value for its shareholders. The Company thanks Greg and Jamie for their efforts and achievements while at Bonterra and looks forward to Marc taking a leadership role in the continued development of the Company’s assets.”

Qualified Person

Pascal Hamelin, P.Eng. has approved the information contained in this release. Mr. Hamelin, Bonterra’s VP Operations, is a Qualified Person as defined by National Instrument 43-101 –Standards of Disclosure for Mineral Projects (“NI 43-101”).

FOR ADDITIONAL INFORMATION:

Investor relations: Pascal Hamelin
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary and Forward-Looking Statements

This 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 Bonterra’s exploration and development plans. 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 – May 29, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) announces that it has postponed filing its interim consolidated financial statements and management’s discussion and analysis for the period ended March 31, 2020 (collectively, its “Interim Documents”) due to delays caused by coronavirus disease 2019 pandemic (“COVID-19”). Further to its announcement on April 21, 2020, the Company continues to postpone the filing its annual financial statements and management’s discussion and analysis for the year ended December 31, 2019 (collectively, its “Annual Documents”).

Disclosure Filings

On March 18, 2020, the Canadian Securities Administrators issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. As such the British Columbia Securities Commission has enacted BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements.

On April 21, 2020, Bonterra announced that due to circumstances created by the COVID-19 pandemic, that it would not file its Annual Documents by the scheduled due date of April 29, 2020 as required by National Instrument 51-102. Instead, Bonterra utilized the temporary exemption under BC 51-515 to file its Annual Documents. Bonterra is continuing to work with its auditors and will file its Annual Documents by June 15, 2020.

The Company further announces that filing of its Interim Documents will be postponed as well due to delays caused by the COVID-19 pandemic. The Interim Documents would ordinarily have been filed on or before June 1, 2020, the required deadline set by NI 51-102. Bonterra is relying on the exemption provided in BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements (“BC 51-515”), which provides the Company with an additional 45 days to file its Interim Documents, which includes the following continuous disclosure documents:

• the Company’s unaudited financial statements for the quarter ended March 31, 2020 as required by section 4.4 of NI 51-102; and
• the Company’s Management’s discussion and analysis for the quarter ended March 31, 2020 as required by section 5.1(2) of NI 51-102.

The Company will file the Interim Documents no later than July 14, 2020. In the interim, until the Annual and Interim Documents have been filed management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that since the filing of its interim consolidated financial statements for the period ended September 30, 2019, there have been no material business developments other than those disclosed through news releases.

FOR ADDITIONAL INFORMATION:

Investor relations
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.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.

Val-d’Or, QC – April 24, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF,
FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to report an intersection of 13.76 grams
per tonne (“g/t”) Au over an intersection length of 4.5 metres (“m”) from its winter drilling
completed at the Gladiator deposit.

The Company suspended its winter 2020 drill program on March 17 due to the Coronavirus Pandemic and on April 2 reported assays received to date from drilling completed at the Gladiator deposit. All assays for the Company’s exploration programs are completed at the Company’s Bachelor Mine assay laboratory. While maintaining safe work practices, the assay lab is currently operating on a 4 hour per day basis and has reported partial results of hole BA-20-07 drilled at the Gladiator deposit. The results reported include an intersection of 5.93 g/t Au over and intersection length of 11.0 m (estimated true width of 3.97 m) which includes a higher-grade interval of 13.76 g/t Au over an intersection length of 4.5 m (estimated true width of 1.5 m). Assays remain pending from the rest of hole BA-20-07 and parts of other holes completed at Gladiator. Hole BA-20-07 is presented on the attached cross section.

Greg Gibson, President and CEO of the Company commented “This recent result on the north zone occurs approximately 110 m below surface on part of the north zone where the drilling remains relatively widely spaced. This intercept supports our current strategy to both expand and in-fill near surface resources at Gladiator to advance the Gladiator deposit.”

Analyses and QAQC

Gold analyses of Gladiator drill core are completed at the Bachelor Mine assay laboratory. The Company employs an industry standard QAQC program that includes duplicate analyses from pulp and coarse rejects and the use of Certified Reference Materials and blanks. Check assays on a minimum of 10% of the samples are completed at ALS Laboratories (“ALS”) in Val-d’Or. Check assays for hole BA-20-07 and other holes in progress at the Bachelor lab will be completed at ALS when regular work activities resume.

Boris Artinian, P.Geo and Chief Geologist for the Company supervises all exploration activities on the Gladiator project. Mr. Artinian is a Qualified Person as defined by NI43-101. Jamie Lavigne, P.Geo and VP Exploration for the Company has approved the information contained in this release. Mr. Lavigne is a Qualified Person as defined by NI43-101.

Open the PDF to view the tables and graphs.

FOR ADDITIONAL INFORMATION:

Investor relations: Allan Folk
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary and Forward-Looking Statements

This 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 Bonterra’s exploration and development plans. 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 21, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF,
FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to provide a corporate update including
recent and current activities at the Moroy, Gladiator, and Barry projects.

On March 17, 2020, Bonterra announced the immediate suspension of all drilling at its Moroy, Gladiator, and Barry projects due to the Coronavirus Pandemic. At that time, the three camps and the Val-d’Or office were reduced to security, care and maintenance, and environmental staff and project geologists were directed to work from home. The Company has maintained this operational status to date and reports on work being completed and preliminary exploration and development plans for when normal activities do resume.

Geology and Exploration

Desktop work has been focussed on the inclusion and interpretation of recent drill results with the objective of developing up-dated drilling and exploration plans to be implemented when it is safe to return to work.

• At Moroy, geological and resource modelling had been in progress through the recent drilling campaign and has been advanced through the current shut down. A priority objective of the work at Moroy is to prioritize a drill plan with a two-pronged approach; to develop resources at the M1, M4, M5, and M7 zones to support the mine plan and to continue to explore the relatively untested geology proximal to mine infrastructure.
• At Barry, the geological model is being updated for the recently completed infill and downdip expansion drilling. Assays remain pending for the exploration drilling completed to the west of the deposit. It is anticipated that continued exploration to the west of the Barry deposit will be a priority when exploration resumes and drilling from a barge to achieve this objective will be evaluated.
• At Gladiator, not being able to complete the ice-based drill program as planned requires that plans be re-developed. The Company is now considering a land-based and bargebased drill program with drilling to a maximum depth of 125 meters which includes delineating the newly interpreted North Zone. This drill plan would be executed in preparation for developing an exploration decline and completing underground mapping, sampling, and drilling.

Assaying

The Company completes all assays on surface and underground exploration core at its Bachelor mine site assay lab. The Chief Assayer is currently assigned to care and maintenance duties at the Moroy project and Bachelor mine site and is completing sample preparation on a 4 hour per day basis. Results will be released as completed.

Permitting

The Company currently has two applications submitted. The permitting process to excavate an exploration ramp and decline at Gladiator is in progress. During the fall, the Company submitted an Environmental Impact Study to the Quebec Ministry of Environment to expand both the permit for mill and tailings capacity at the Bachelor Mine and to additionally allow for processing of material from Moroy and Barry. The Company has not been advised of any delay due to the Coronavirus Pandemic and expects delivery in due course.

Corporate

The Company’s President and CEO Greg Gibson has announced his retirement from the company effective June 30, 2020. Mr. Gibson will work with the Board of Directors in recruiting a new President and CEO who will lead the company into the next phase of growth. The Company also announce the appointment of Cesar Gonzalez to the Board of Directors. Mr. Gonzalez is currently Vice President of Corporate Development at Mako Mining Corp., a consultant for Wexford Capital LP and holds a B.S.in Business Administration from the University of Southern California.

Year End Disclosure Filings

On March 18, 2020, the Canadian Securities Administrators issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. As such the British Columbia Securities Commission has enacted BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements.

The Company will be relying on this extension period due to delays experienced as result of the COVID-19 pandemic. Bonterra will be relying on the temporary exemption pursuant to BCI 51- 515 in respect to the following provisions:

• the requirement to file audited financial statements for the year ended December 31, 2019 (the “Financial Statements”) within 120 days of the Company’s financial year end as required by section 4.2(b) of NI 51-102;
• the requirement to file management discussion and analysis (the “MD&A”) for the period covered by the Financial Statements within 120 days of the Company’s financial year end as required by section 5.1(2) of NI 51-102; and
• the requirement to file certifications of the Financial Statements (the “Certificates” and together with the Financial Statements and the MD&A, the “Annual Filings”) pursuant to section 4.1 of National Instrument 52-109.Section 4.2(b) [filing deadline for annual financial statements] National Instrument 51-102.

The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings on or before June 14, 2020. In the interim, management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that since the filing of its interim consolidated financial statements for the period ended September 30, 2019, there have been no material business developments other than those disclosed through news releases.

FOR ADDITIONAL INFORMATION:

Investor relations: Allan Folk
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary and Forward-Looking Statements

This 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 Bonterra’s exploration and development plans. 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 2, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) announces the results of assays received from recently completed drilling at the Gladiator deposit. Results include the intersection of 18.26 grams per tonne (“g/t”) Au over an intersection length of 1.7 metres (“m”).

Bonterra had planned an aggressive winter drill program at Gladiator consisting of 12,000 to 15,000 m. The focus was zone delineation and infill drilling aimed at increasing indicated resources and to support planning for future underground exploration. The start of the drill program was delayed due to warm winter temperatures and heavy snowfall which slowed icemaking on Barry Lake. Required ice levels were not achieved and drilling was limited to near the shore where Barry Lake was frozen to the bottom. Due to the Covid-19 outbreak, the Company terminated the drill program earlier than planned. A total of 2,572 m of drilling was completed in 5 holes. Two additional holes were only partially drilled and the Company is still awaiting these results.

Three primary zones of mineralization are interpreted at Gladiator; the North, Main, and Barbeau Zones. The North and Main Zones are quartz vein mineralization hosted by steeply southsoutheast dipping shear zones which have developed at the contacts of a gabbroic and felsic dykes with mafic and intermediate volcanic rocks (see cross section in Figure 1). The Barbeau Zone consists of quartz vein mineralization hosted by a shear zone which dips moderately (55o to 65 o) to the north and is correlated with offset of the gabbroic and felsic dykes. A number of less welldefined zones have been interpreted with orientations similar to the Barbeau Zone and similar to the North and Main Zones (Figure 1).

The 5 holes completed were drilled in a north-to-south direction and planned to intersect the North and Main Zones near surface and further downhole to intersect targeted north dipping zones. Significant intercepts are presented in table 1 and illustrated on the accompanying cross sections. Highlights of the drilling include an intersection of 11.5 g/t Au over 8.5 m (estimated true width of 3.8 m) on the North Zone and an intersection of 22.59 g/t Au over an intersection length of 1 m
(estimated true width of 0.5 m) on the Main Zone. The north dipping zones were intersected at a more favourable angle and highlights include 18.26 g/t Au over an intersection length of 1.7 m and 19.37 g/t Au over an intersection length of 1 m.

Greg Gibson, President and CEO of the Company commented “We are pleased with these early, albeit limited, results. In particular, the results on the newly interpreted North Zone support the interpretation of geological continuity and demonstrate the potential to add significant near surface ounces to the Gladiator resource. Also, of particular significance is the prediction and intersection of significant mineralization in the newly interpreted north dipping zones. We hope to resume the Gladiator drilling from a barge after spring break up and when current restrictions due to the Covid-19 virus have been lifted.”

Analyses and QAQC

Gold analyses of Gladiator drill core are completed at the Bachelor Mine assay laboratory. The Company employs an industry standard QAQC program that includes duplicate analyses from pulp and coarse rejects and the use of Certified |Reference Materials (CRM) and blanks. Check assays on a minimum of 10% of the samples are completed at ALS Laboratories in Val-d’Or.

Boris Artinian, P.Geo and Chief Geologist for the Company supervises all exploration activities on the Gladiator project. Mr. Artinian is a Qualified Person as defined by NI43-101. Jamie Lavigne, P.Geo and VP Exploration for the Company has approved the information contained in this release. Mr. Lavigne is a Qualified Person as defined by NI43-101.

Open the PDF to view the tables and graphs.

FOR ADDITIONAL INFORMATION:

Investor relations: Allan Folk

ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9

819-825-8676 | Website: www.bonterraresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Cautionary and Forward-Looking Statements

This 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 Bonterra’s exploration and development plans. 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.