An anonymous director reports

BONTERRA INTERSECTS 7.9 G/T AU OVER 12.1 METRES AT MOROY

Bonterra Resources Inc. has released drill results from the underground drill campaign at the Moroy zone, including the following new high-grade results:

• 4.9 grams per tonne gold over 14.3 metres in hole MY-18-089;
• 7.9 g/t Au over 12.1 metres in hole MY18-120;
• 15.5 g/t Au over 4.1 metres in hole MY-18-138.

These new results both confirm the extent and continuity of the Moroy zone. The diamond drilling campaign also succeeded in defining the Moroy zones M1 and M2. Highlighted drill intersections are provided in the table.

The Moroy deposit is a parallel system to the Bachelor mine and shows similarities with Bachelor in terms of geology, geometry, size and continuity. Located one kilometre south, Moroy has been outlined over a strike length of 400 metres and a vertical extent of 600 metres. The mineralized zones consist of hematized brecciated stockwork associated with pyrite. Bonterra will include these results in its upcoming mineral resources estimate and will focus on expansion drilling in the Moroy zones, which remain open to the west and east, along the mineralization plunge.

                               DRILLING HIGHLIGHTS 
  
Hole              From (m)        To (m)        Length (m)*          Au (g/t)

MY18-028            250.4         254.1               3.7                5.0
MY18-082            150.0         152.7               2.7               12.0
MY18-084            123.0         129.0               6.0                6.9
MY18-086             16.8          17.6               0.8               19.3
MY18-089            173.8         188.1              14.3                4.9
MY18-097            104.7         107.7               3.0                7.8
MY18-098             19.6          24.2               4.6                9.3
MY18-099            125.2         128.6               3.4                4.8
MY18-100            108.2         122.1              13.9                4.1
MY18-105             85.4          87.2               1.8               13.3
MY18-106            234.6         238.9               4.3               12.3
MY18-112            116.6         122.0               5.4                8.8
Including           116.6         119.1               2.4               18.1
MY18-115             88.6         106.3              17.7                4.4
Including            98.4         100.4               2.0               12.2
MY18-120             14.1          17.9               3.8                8.5
Including            15.1          17.3               2.2               11.9
MY18-120            105.1         117.2              12.1                7.9
MY18-124            119.4         121.5               2.1               18.3
MY18-127            182.6         185.8               3.2               11.7
MY18-130            251.1         256.1               5.0                9.6
MY18-131            246.7         248.9               2.2                8.9
MY18-135            145.9         154.7               8.8                7.2
MY18-138            123.5         127.6               4.1               15.5
MY18-140            161.6         165.9               4.3               11.4
MY19-146             93.7          95.5               1.8               20.4

* Stated lengths are core width as drilled, true widths vary and average 
between 75 and 90 per cent of drilled widths.

Highlights on the Moroy deposit:

• Three defined mineralized structures within the Moroy deposit;
• Over 100,000 metres drilled in the Moroy deposit since its discovery in 2015;
• Mineralized dimensions are now 400 metres along strike and 600 metres vertically;
• Mine development into Moroy deposit, from level 11 of the Bachelor mine, allows for both bulk sampling and underground definition drilling opportunities.

Quality control and reporting protocols

The company uses a rigorous quality assurance/quality control analytical program according to industry standards. The analytical results were done by pyroanalysis (A.A.) at the mine laboratory. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The company's QA/QC analytical verification program requires that a minimum of 5 per cent of the samples be audited at an independent laboratory. These audit assays were sent to ALS laboratory located in Val d'Or, Que. The results of the audits are consistent with those obtained.

Grant of option

Bonterra also announces that it has granted the aggregate of 2.7 million share purchase options to eligible directors, officers, employees and consultants. Each share purchase option allows the holder to purchase one common share of Bonterra, at the exercise price of $2 and will expire Feb. 21, 2024, the whole subject to certain vesting requirements as may be applicable and the terms and conditions of the company's stock option plan.

Pascal Hamelin, PEng, has approved the information contained in this release. Mr. Hamelin, Bonterra's vice-president of operations, is a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.