Bonterra Resources Wraps Up Lucrative Gold Recovery Operation

• Bonterra generated $2.7 million in net revenue from selling 1,346.5 ounces of gold recovered from its Bachelor Mill cleanup
• Combined with prior gold sale and recent Osisko JV deal, Bonterra now has capital to complete its 15,000m drill program at Desmaraisville
• Bonterra is a Canadian gold explorer with 1.24Moz of gold in Measured & Indicated and 1.78Moz Inferred
• The Osisko JV validates Bonterra's assets and marks a milestone on the path towards developing its deposits
• For investors, Bonterra offers upside potential from exploration and development of high-grade gold projects

About Bonterra Resources

Bonterra Resources Inc. (TSX-V: BTR) is a Canadian gold exploration and development company focused on advancing its portfolio of properties located near the town of Urban-Barry in Quebec. The company's assets include four advanced gold projects - Gladiator, Barry, Moroy and Bachelor - that collectively contain over 3 million ounces of gold resources.

Completion of Bachelor Mill Cleanup Operation

On November 30, 2023, Bonterra announced that it has concluded its cleanup of the Bachelor Mill and realized total gross revenue of C$3.6 million after recovering and selling 1,346.5 ounces of gold. When factoring in costs, Bonterra generated C$2.7 million in net revenue from the gold recovery operation.

This follows an initial batch of gold Bonterra sold in August totaling $1.5 million in revenue. All told, the Company brought in significant income through its decision last year to reprocess old mineralized material left behind in the Bachelor Mill from its past operation.

Funding Further Exploration Campaigns

According to Marc-André Pelletier, President and CEO of Bonterra, the recent windfall sets the firm up nicely to finish its current 15,000 meter drill program at the Desmaraisville properties near the town of Urban-Barry. Bonterra has budgeted $3 million for this regional exploration initiative.

Moreover, when combining the $2.7 million from the Bachelor Mill gold sale and $4 million received from its recent strategic joint venture deal on the Gladiator and Barry projects with Osisko Mining, Bonterra should have ample capital to complete its drill plans this year.

Attractive Optionality for Investors

For investors, Bonterra offers upside optionality from both exploration potential and asset development. The Osisko agreement, which allows the major mining company to earn a 70% stake in Gladiator and Barry over three years, serves to de-risk and validate the value of Bonterra's gold properties.

As exploration at Desmaraisville and other regional targets adds new resources through the drill bit, Bonterra's portfolio of assets located in a proven gold district becomes increasingly attractive. With continued positive results, the Company could pursue extending mine life at Bachelor, satellite deposits around Urban-Barry or even quartz vein discoveries at Moroy.

Bonterra Resources provides investors leverage to rising gold prices alongside meaningful exploration potential and quality assets that incentivize development and production scenarios. As the firm deploys capital from its Bachelor Mill windfall and Osisko JV backing towards new discoveries, there remains strong re-rating potential ahead.