BonTerra Announces Increase in Bought Deal Financing with Sprott Capital Partners and Concurrent Non-brokered Private Placement

510-744 West Hastings Street,

Vancouver, BC V6C 1A5

Office: 604.678.5308

TF: 855.678.5308

www.bonterraresources.com

BonTerra Announces Increase in Bought Deal Financing with Sprott Capital Partners

and Concurrent Non-brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,

DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART,

IN OR INTO THE UNITED STATES.

Vancouver, BC – February 13, 2017 – BonTerra Resources Inc. (TSX-V: BTR, US: BONXF, FSE:

9BR1) (the “ Company ” or “ BonTerra ”) is pleased to announce that it has entered into an amended

agreement with Sprott Capital Partners, a division of Sprott Private Wealth LP (“ Sprott ”) to act as lead

underwriter (the “ Underwriter ”), and has agreed to increase the offering size of purchased securities from

$9,394,000 to $12,902,400 in gross proceeds (the “ Offering ”).

The Offering will consist of a combination of (a) 11,000,000 flow-through common shares of the Company

(“ Flow-Through Shares ”) at a price of $0.35 per Flow-Through Share and (b) 32,330,000 common shares

of the Company (“ Common Shares ”) at a price of $0.28 per Common Share.

In addition, the Company will complete a non-brokered private placement of 3,660,000 Common Shares at

a price of $0.28 per Common Share (the “ Non-brokered Offering ”). The Non-brokered Offering will be

completed on the same terms as the Offering. The Non-brokered Offering will close concurrently with the

Offering.

In connection with the Offering, the Underwriter will be entitled to a cash fee in an amount equal to 6.0%

of the gross proceeds of the Offering, to be paid out of the Offering at closing. As additional consideration,

the Company will grant to the Underwriter common sh are purchase warrants (the “ Broker Warrants ”)

entitling the Underwriter to subscribe for that num ber of common shares equal to 4.0% of the aggregate

number of Flow-Through Shares and Common Shares sol d in the Offering and Non-brokered Offering.

Subject to regulatory approval, each Broker Warrant will be exercisable to acquire one common share at a

price equal to $0.28 for a period of 24 months after the Closing Date (hereinafter defined).

The gross proceeds received by the Company from the sale of the Flow-Through Shares will be used to

incur Canadian Exploration Expenses that are “flow- through mining expenditures” (as such terms are

defined in the Income Tax Act (Canada)) on the Company’s properties, which expen ses will be renounced

to the subscribers with an effective date no later than December 31, 2017, in the aggregate amount of not

less than the total amount of the gross proceeds ra ised from the issue of Flow-Through Shares. The net

proceeds from the sale of the Common Shares will be used for general corporate and working capital

purposes. All securities issued under the Offering will be subject to a four month hold period from the date

of issue in accordance with applicable securities l aws. The Offering is subject to acceptance of the T SX

Venture Exchange.

The Offering and Non-brokered Offering are schedule d to close on March 2, 2017 or such other date or

dates as the Company and the Underwriter may agree.

ON BEHALF OF THE BOARD OF DIRECTORS,

Nav Dhaliwal, President & CEO

BonTerra Resources Inc.

2

2

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to s ell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any

jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities

have not been and will not be registered under the United States Securities Act of 1933, as amended (the “ 1933 Act ”) or any state securities laws

and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933

Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available .

This news release includes certain forward-looking statements concerning the use of proceeds of the Offering, the future renunciation of Canadian

Exploration Expenses that are flow-through mining e xpenditures, the tax treatment of the Flow-Through Shares, the future performance of our

business, its operations and its financial performa nce and condition, as well as management’s objectiv es, strategies, beliefs and intentions.

Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and

similar words referring to future events and result s. Forward-looking statements are based on the curr ent opinions and expectations of

management. All forward-looking information is inhe rently uncertain and subject to a variety of assump tions, risks and uncertainties, including

the speculative nature of mineral exploration and development, fluctuating commodity prices, the future tax treatment of the Flow-Through Shares,

competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual

events or results may differ materially from those projected in the forward looking statements and we caution against placing undue reliance

thereon. We assume no obligation to revise or update these forward looking statements except as required by applicable law.