Mr. Greg Gibson reports

BONTERRA ANNOUNCES THE RETIREMENT OF JAMES FAIRBAIRN

James Fairbairn, Bonterra Resources Inc.'s chief financial officer, has retired, effective Nov. 1, 2019. Johnny Oliveira, the company's current financial reporting manager, has been appointed interim chief financial officer.

Mr. Oliveira has 20 years of experience in the accounting profession, including audit, accounting, tax, financial management and reporting, and corporate finance. Over the past 10 years, Mr. Oliveira has served as chief financial officer, corporate secretary or financial reporting manager of several junior mining companies. Mr. Oliveira graduated from the University of Wilfred Laurier with an honours bachelor's degree in business administration.

Greg Gibson, chief executive officer of Bonterra, stated: "We would like to thank Jim for his dedicated service as CFO and for his many valued contributions to Bonterra. The company wishes Jim the best in his retirement and future endeavours."

Bonterra also announces it has entered into a settlement agreement in connection with the two joint claims filed with the Supreme Court of British Columbia, by past officers of Bonterra, seeking payments in the aggregate amount of $2.43-million in connection with the termination of their consulting agreements. The settlement, which included a total payment of $1-million by Bonterra, was made without any admission or finding of liability.