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or Name
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CA



Bonterra Resources Inc (2)
Symbol BTR
Shares Issued 233,985,579
Close 2018-09-18 C$ 0.45
Market Cap C$ 105,293,511
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Durango Resources to retain 100% of Trove property

2018-09-19 10:03 ET - News Release

See News Release (C-DGO) Durango Resources Inc

Ms. Marcy Kiesman of Durango reports

DURANGO ANNOUNCES IT WILL RETAIN 100% INTEREST IN STRATEGICALLY POSITIONED TROVE PROPERTY

Durango Resources Inc. will continue to hold 100-per-cent interest in its Trove property located in Quebec.

The Trove property is 1,188 hectares in size and is amid the Windfall Lake gold deposit which is one of the highest-grade resource-stage gold projects in Canada. The Trove claims are in the Windfall-Urban gold camp district of Northern Quebec surrounded by properties held by Osisko Mining Inc. and are a direct extension of the southwest mineralized trend that Bonterra Resources Inc. is exploring on its Gladiator gold deposit and Coliseum gold property.

Marcy Kiesman, president of Durango, stated: "We are extremely pleased to retain 100-per-cent possession of the strategically positioned Trove property. Durango is grateful to Bonterra for entering into the Trove option agreement with Durango in 2017 as it allowed for exploration and drilling on other Durango properties without dilution to shareholders. Durango is also appreciative for Bonterra's exploration work performed on the Trove and the two-year claim renewal. We wish Bonterra enormous success as they focus on the expansion of their Gladiator deposit as Durango remains a large shareholder of Bonterra and will benefit from their continued success."

On Sept. 11, 2018, Bonterra advised Durango in writing that it will not be proceeding with further exploration activities on the Trove property. Accordingly, pursuant to the terms of the option agreement, Durango will retain its 100-per-cent interest in the Trove property.

To date, pursuant to the terms of the option agreement, Durango received cash payments of $300,000 and three million common shares of Bonterra satisfying the terms up to and including the first anniversary. Durango currently holds 1.6 million common shares of Bonterra valued at $720,000, (based on the closing trading price of Bonterra's common shares on the TSX Venture Exchange as of Sept. 18, 2018).

Further updates will be provided as they become available. The company would also like to announce the issuance of 650,000 options to directors and consultants exercisable at six cents for a period of three years subject to the approval of the TSX-V.

About Durango Resources Inc.

Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The company has a 100-per-cent interest in the Decouverte and Windfall gold properties in the Abitibi region of Quebec, certain lithium properties near the Whabouchi mine, the Buckshot graphite property near the Miller mine in Quebec, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, the Dianna Lake silver project in Northern Saskatchewan, and the Mayner's Fortune limestone property in northwest British Columbia.

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