Bonterra Intersects High-Grade Gold at Desmaraisville South Project

• Bonterra Resources intersects 10.97 g/t gold over 10.1 meters at its Desmaraisville South project near its Bachelor Mill complex
• Additional highlights include 4.79 g/t gold over 6.3 meters and 2.65 g/t gold over 4.2 meters
• Drilling aimed to test new targets and validate improved geological interpretation
• Assays pending for majority of 3,955 samples; re-sampling planned for 2024
• Results support potential for additional near-surface mineralization similar to Bachelor and Moroy deposits

About Bonterra Resources

Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) is a Canadian gold exploration and development company focused on advancing its portfolio of assets located near the town of Urban Barry in Quebec, Canada. The company's key assets include the Gladiator, Barry, Moroy and Bachelor deposits which contain combined measured and indicated resources of 1.24 million ounces of gold. Bonterra also owns the only permitted gold mill in the region, the Bachelor Mill complex, providing a key competitive advantage for bringing its deposits into production.

Drill Results Confirm Mineralization Potential at Desmaraisville South

Recent results from Bonterra's 15,000 meter drill program at the 100% owned Desmaraisville South Property have intersected significant near-surface gold mineralization approximately 3 kilometers from its Bachelor Mill Complex. Highlights include intersections of 10.97 g/t gold over 10.1 meters including 16.36 g/t over 4.7 meters, 4.79 g/t gold over 6.3 meters including 9.03 g/t over 1.5 meters, and 2.65 g/t gold over 4.2 meters.

The drilling tested several new geophysical and geological targets that were generated through a reinterpretation of historical data and models. The results so far validate Bonterra's improved geological understanding of the area and indicate similarities between mineralization at Desmaraisville and the Bachelor and Moroy deposits located on the western side of the O’Brien Syenite Intrusion.

The gold mineralization occurs in sub-parallel zones of silica and hematite alteration with fine disseminated pyrite - interpreted to represent a large mineralized system with structural complexities that control localization of higher grades. While full assays remain pending, Bonterra has submitted nearly 4,000 samples to date and plans additional drilling and resampling in 2024 to further evaluate these initial targets.

Potential to Expand Mineral Resources Base

Given the proximity to its mill infrastructure and early drilling success, the Desmaraisville Properties represent highly prospective targets for Bonterra to materially expand its mineral resource base and support a centralized mining operation.

As Bonterra works to advance the nearby Gladiator and Barry deposits through its partnership with Osisko Mining, confirming additional resources at Desmaraisville would provide valuable flexibility in supply of mill feed over an extended mine life. With five drills now active across these main project areas, Bonterra is well positioned to build on its existing 1.24 million ounces of measured and indicated resources as it moves towards a production decision.

An Attractive Leveraged Play on Gold

With key infrastructure in place, a leadership team focused on execution, and assets located in a top-tier mining jurisdiction, Bonterra offers investors an attractive opportunity to gain exposure to the upside potential of the gold market.

As it systematically de-risks and adds resources across its portfolio, Bonterra represents a re-rated emerging producer with capacity to generate strong cash flow over a long mine life to support resource expansion and shareholder returns.

Backed by a strong balance sheet, appetite for strategic consolidation in the region also provides Bonterra opportunities to further enhance its growth pipeline and drive additional value for shareholders.