Mr. Marc-Andre Pelletier reports

BONTERRA RESOURCES ANNOUNCES FINAL GOLD SALE FROM ITS BACHELOR MILL CLEANUP

Bonterra Resources Inc. has recovered and sold 1,346.5 ounces of gold in total, generating gross revenue of $3.6-million (including the first gold sale announced on Aug. 9, 2023) from the Bachelor mill cleanup process. The costs associated with the sales, which include gold recovery efforts, shipment, royalty payments and refining, represent a total of $900,000, for a net revenue of $2.7-million.

Marc-Andre Pelletier, president and chief executive officer, commented: "Following the receipt of an additional $4-million from the recent transaction with Osisko Mining and the above-mentioned gold sales, the company should now have enough funds to complete this year's 15,000 metres drill campaign at our 100-per-cent-owned Desmaraisville properties. There is presently three drill rigs turning at Desmaraisville, focusing on high-grade intercepts that were previously drilled but not followed up on and other regional exploration targets that have never been drilled.

"Throughout the year, we have creatively generated revenue and significantly reduced expenses while diligently spending on exploration work. I would like to thank our employees for their dedicated efforts in making these achievements possible."

Qualified person

Marc-Andre Pelletier, PEng (OIQ No. 113978), president and chief executive officer of the company, has verified and approved the information contained in this press release. Mr. Pelletier is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The company's assets include the Gladiator, Barry, Moroy and Bachelor gold deposits, which collectively hold 1.24 million ounces in measured and indicated categories and 1.78 million ounces in the inferred category.

In November, 2023, the company entered into an earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70-per-cent interest by incurring $30-million in work expenditures. This strategic transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant step toward development.

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