Bonterra Reports Significant Mineral Resource Growth at Bachelor and Moroy, 100% owned Deposits and Provides Corporate Updates
Bonterra Reports Significant Mineral Resource
Growth at Bachelor and Moroy, 100% owned
Deposits and Provides Corporate Updates
Val-d'Or, Quebec--(Newsfile Corp. - April 1, 2026) -
Bonterra Resources Inc. (TSXV: BTR) (OTCQX:
BONXF) (FSE: 9BR2)
("
Bonterra
" or the "
Company
") is pleased to announce updated Mineral
Resource Estimates (the "
2026
MREs
") for the Bachelor and Moroy Deposits at its 100% owned
Desmaraisville Gold Project. The 2026 MREs were independently prepared by P&E Mining Consultants
Inc. ("
P&E
") on behalf of the Company in accordance with National Instrument 43-101 -
Standards of
Disclosure for Mineral Projects
("
NI 43-101
") and are effective as of February 18, 2026.
Key Highlights
Bachelor and Moroy combined 2026 MREs
of
228 thousand ounces (
"
koz
"
) of Measured &
Indicated
Mineral Resources at an average grade of 3.98 g/t Au contained within 1.78 million
tonnes ("
Mt
"), and
133 koz of Inferred
Mineral Resources at an average grade of 4.23 g/t Au contained within 0.978
Mt.
Combined contained gold ounces
increased by 42% in Measured & Indicated
Mineral
Resources and by
28% in Inferred
Mineral Resources relative to the 2021 Mineral Resource
Estimates (the "
2021 MREs
").
Bachelor MREs (Underground)
:
113 koz of Measured & Indicated
Mineral Resources
grading 3.87 g/t Au within 0.905 Mt, and
28 koz of Inferred
Mineral Resources grading 4.45 g/t
Au within 0.197 Mt.
Moroy MREs (Underground)
:
115 koz of Measured & Indicated
Mineral Resources grading
4.10 g/t Au within 0.875 Mt, and
105 koz of Inferred
Mineral Resources grading 4.18 g/t Au within
0.781 Mt.
Marc-André Pelletier, President and CEO commented: "The discovery of the extension of the Hewfran
mineralized zone last year, combined with the additional drilling completed since 2021, has enabled
P&E to estimate these updated MREs for the Bachelor and Moroy Deposits, owned at 100%. The
increase in MREs on our mining concession and mining lease, located near the Bachelor Mill, is
significant, with now more than 113,000 ounces of gold in the Measured & Indicated category.
Importantly, all Mineral Resources are located within 900 metres of the Bachelor Mill Complex, thereby
offering a strategic opportunity to advance the restart of mining operations by leveraging already
permitted infrastructure. The Company intends to begin its 2026 exploration program at Desmaraisville
soon, which will aim to continue testing high-potential targets."
2026 MREs Details & Assumptions
Data Analysis
The 2026 MREs include new drilling completed by Bonterra from 2023 to 2025, including 9,799 m
drilled containing 3,197 assays at Bachelor and 7,962 m drilled containing 1,663 assays at Moroy.
A total of 2,432 drill holes and 379,577 m drilled containing 60,436 assays are considered for the
Bachelor Deposit and 579 drill holes and 150,886 m drilled containing 18,185 assays for the
Moroy Deposit.
Revision of the capping threshold for mineralized zones based on geological and structural
groupings.
A more robust classification strategy based on field observations, historical mine records, oriented
drill core and detailed variography.
Geology Interpretation and Modelling
Revised modelling interpretations resulting from oriented core drilling, including the new delineated
Hewfran Zone, and Bachelor wireframes showing increased deposit understanding over 2021.
Revised modelling interpretations and cut-off resulting from increased gold price.
Increased minimum mining width from 1.20 m to 1.75 m now more closely aligned with industry
standards.
All blocks within the 2026 underground MREs are constrained by optimized stope shapes as
recommended by the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice
Guidelines.
The table below shows the comparison between the 2021 and 2026 MREs:
Table 1: Bachelor and Moroy deposits - Comparison of Mineral Resources in 2021 MREs with
2026 MREs
(1-6)
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Notes:
1
.
2021 MREs are estimated using a cut-off grade of 2.6 g/t Au for underground.
2
.
2021 underground MREs were not constrained by stope shapes.
3
.
2026 MREs are estimated using a cut-off grade of 2.0 g/t Au for underground stopes that constrain all blocks being reported.
4
.
2021MREs and 2026 MREs are estimated using long-term gold prices of US$1,600 per oz and US$2,850 per oz, respectively.
5
.
Exchange rates used were US$/C$ of 0.75 for the 2021 MREs and 0.72 for the 2026 MREs.
6
.
Numbers may not sum due to rounding.
Bachelor Deposit MRE
The Bachelor MRE is based on 31 veins grouped within four steeply dipping vein sets from the surface
to 1,000 m in depth, within which 1 m capped composites have been calculated and grade blocks
estimated with a multi-pass inverse distance cubed ("
ID3
") interpolation method (see Table 2).
Measured Mineral Resources were defined where proximal to historical workings and using three drill
holes spaced up to 15 m apart. Indicated Mineral Resources were limited to areas defined using three
drill holes spaced up to 30 m apart. Inferred Mineral Resources represent areas with drill hole spacing
up to 60 m. Mineral Resources are reported within underground reporting optimized stope shapes
constructed using a minimum thickness of 1.75 m and a gold cut-off grade of 2.0 g/t Au and limited to
areas of continuous mineralization. Mineral Resources were depleted within 5 m of historical mined out
stopes. In addition, a 2 m buffer solid was created around all mineralized wireframes to capture any
marginal grade for underground stope optimization internal dilution. All blocks within the underground
constraining optimized stope shapes have been included within the Mineral Resources Estimate at a
zero cut-off grade.
Table 2: Bachelor Deposit 2026 MREs
(1-12)
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Notes:
1
.
CIM definitions were followed for Mineral Resources.
2
.
Mineral Resources are presented externally undiluted and in situ and are considered to have reasonable prospects for eventual economic
extraction. The underground Mineral Resources are constrained by potentially mineable stope shapes.
3
.
Underground Mineral Resources stope shapes are optimized at a cut-off of 2.0 g/t Au.
4
.
Mineral Resources are estimated using a long-term gold price of US$2,850 per oz and a US$/C$ exchange rate of 0.72.
5
.
A minimum mining width of 1.75 m was used.
6
.
Mineral Resources were depleted within 5 m of historical mined out stopes.
7
.
Assay samples were composited within the mineralization envelopes into 1 m length composites. A value of
0.001 g/t Au was applied in cases of drill core not assayed.
8
.
High-grade outliers were established using a statistical analysis on a per-zone basis for gold on composite data.
Capping varied from 40 to 45 g/t Au and was applied on composites within each specific wireframe.
9
.
Bulk density values were applied on the different mineralized zones varied from 2.79 to 2.82 t/m
3
based on site drill core measurements with
a mean value of 2.81 t/m
3
used for reporting purposes.
10
.
ID3 block grade interpolation was used.
11
.
Grade estimates are based on a parent block dimension of 2 m x 4 m x 4 m with sub-cells down to 0.25 m x 1 m x 1 m. Search parameters
were determined by variography.
12
.
Numbers may not sum due to rounding.
Figure 1: Bachelor 2026 MRE Longitudinal Projection View Looking Northeast
To view an enhanced version of this graphic, please visit:
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Moroy Deposit MRE
The Moroy MRE is based on 11 vein structures and clusters within two structural groups. Block model
grade estimates are controlled by the geological/vein interpretations and were completed using a three-
pass ID3 block grade interpolation method and capped 1 m composites (see Table 3). Measured
Mineral Resources were defined using three drill holes spaced up to 15 m apart. Indicated Mineral
Resources are limited to areas defined using three drill holes spaced up to 30 m apart. Inferred Mineral
Resources represent areas with drill hole spacing and extrapolation up to 60 m. Mineral Resources are
reported within underground reporting shapes constructed using a minimum thickness of 1.75 m and a
cut-off grade of 2.0 g/t Au, limited to areas of continuous mineralization. Mineral Resources were
depleted within 5 m of historical mined out stopes. In addition, a 2 m buffer solid was created around all
mineralized wireframes to capture any marginal grade for underground stope optimization internal
dilution. All blocks within the underground constraining optimized stope shapes have been included
within the Mineral Resources Estimate at a zero cut-off grade. Grade blocks within a 50 m crown pillar
below the base of overburden has been excluded from the Mineral Resources.
Table 3: Moroy Deposit 2026 MREs
(1-13)
To view an enhanced version of this graphic, please visit:
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Notes:
1
.
CIM definitions were followed for Mineral Resources.
2
.
Mineral Resources are presented externally undiluted and in situ and are considered to have reasonable prospects for eventual economic
extraction. The Underground Mineral Resources are constrained by potentially mineable stope shapes.
3
.
Underground Mineral Resources are estimated at a cut-off of 2.0 g/t Au.
4
.
Mineral Resources are estimated using a long-term gold price of US$2,850 per oz and a US$/C$ exchange rate of 0.72.
5
.
A minimum mining width of 1.75 m was used.
6
.
Mineral Resources were depleted within 5 m of historical mined out stopes.
7
.
Assay Samples were composited within the mineralization envelopes into 1 m length composites. A value of 0.001 g/t Au was applied in
cases of drill core not assayed.
8
.
High-grade capping was done on composite data and established using a statistical analysis on a per-zone basis for gold. A 30 g/t Au
capping was applied on composites within each specific wireframe.
9
.
Bulk density values were applied on the different mineralized zones varied from 2.68 to 2.87 t/m
3
based on-site drill core measurements with
a mean value of 2.80 t/m
3
used for reporting purposes.
10
.
ID3 block grade interpolation was used.
11
.
Grade estimates are based on a parent block dimension of 2 m x 4 m x 4 m with sub-cells down to 0.25 m x 1 m x 1 m. Search parameters
were determined by variography.
12
.
A 50 m crown pillar was applied at Moroy.
13
.
Numbers may not sum due to rounding.
Figure 2: Moroy 2026 MRE Longitudinal Projection View Looking Northwest
To view an enhanced version of this graphic, please visit:
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Summary and Validation
Mineralized domains were initially developed by Bonterra and then reviewed, modified and accepted by
P&E.
All Mineral Resource domains were defined within Leapfrog Geo
TM
software and sub-block model
grade estimates were completed within Leapfrog Edge
TM
. Underground constraining shapes at
Bachelor and Moroy were optimized using Deswik
TM
stope optimizer software. In addition to standard
database validation techniques, wireframe and block model validation procedures, including wireframe
to block volume confirmation, statistical comparisons with composite and nearest neighbour grade
estimates, swath plots, visual reviews in 3D, longitudinal projection, cross-section, and plan views, and
cross software reporting confirmation, were completed for all deposits.
The Qualified Person ("
QP
") considers the geological modelling, grade estimation, and Mineral
Resources classification considered in these Mineral Resources estimates to be consistent with industry
practice and aligned with the CIM Estimation of Mineral Resources and Mineral Reserves Best
Practices guidelines, as recommended by Canadian Securities Administrators' National Instrument 43-
101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Further details regarding the 2026 MREs, key assumptions, parameters and methods used to estimate
the Mineral Resources of the Bachelor and Moroy Deposits will be available on SEDAR+
(
www.sedarplus.ca
) under the Corporation's issuer profile within 45 days of this news release in
accordance with NI 43-101.
Corporate Update
The press release of the Company dated March 23, 2026 disclosed a credit facility (the "
Credit
Facility
") provided by certain funds managed by Wexford Capital LP in an aggregate amount of
C$5,000,000. The Company wishes to provide the following additional disclosure in respect of this
unsecured Credit Facility. No bonus securities and/or other finder's fee will be paid in connection with the
Credit Facility, other than the previously disclosed C$100,000 commitment fee.
Independent Qualified Person
The Mineral Resources Estimate was prepared by P&E. The QP has reviewed and approved the
content of this news release. Independent QP Antoine Yassa, P. Geo, OGQ of P&E has prepared and
supervised the preparation of the technical information relating to this Mineral Resources Estimate.
Bonterra Qualified Person and QAQC
M. Donald Trudel, P. Geo. (OGQ # 813), Director of Geology for the Company, has reviewed and
approved the technical information contained in this press release. Mr. Trudel is a Qualified Person as
defined by National Instrument 43-101 on standards of disclosure for mineral projects.
The Bachelor and Moroy Project's drill core gold analyses were performed at the Bachelor Mine
Laboratory, Actlabs (at Ste-Germaine-Boulé), AGAT Laboratories and at MSALABS both located in Val
d'Or, Québec. The Company's laboratory and external laboratories employ a rigorous QAQC analysis
program that meets industry standards. The analyses were carried out by fire assay with atomic
absorption finish at Bachelor Mine Laboratory and with gravimetric finish for assay above 10 g/t Au at
Actlabs and AGAT laboratories. Blanks, duplicates, and certified reference materials were inserted into
the sample stream to monitor the laboratory's performance.
At MSALABS laboratory, the samples were
crushed to a particle size of 70% passing through a two-millimetre sieve, and then a 500-gram portion
was taken for gold analysis by gamma ray (PhotonAssay
TM
). As per MSALABS' internal procedure,
blank samples, and certified reference materials were systematically inserted into the sample sequence
for analysis. MSALABS operates several laboratories worldwide and holds ISO-17025 accreditation for
numerous metal determination methods, including the photon assay method. The Company's QAQC
program requires that at least 5% of samples be analyzed by an independent laboratory. These
verification samples were sent to ALS Minerals' laboratory facility located in Val-d'Or, Québec. The
verifications show a high degree of correlation with the Laboratory's results.
ABOUT P&E MINING CONSULTANTS INC.
P&E, established in 2004, provides geological and mine engineering consulting reports, Mineral
Resources Estimate technical reports, Preliminary Economic Assessments and Pre-Feasibility Studies.
In addition, we are affiliated with major consulting firms for the purposes of joint venturing on Feasibility
Studies. Our experience covers over 480 technical reports on diamonds, most metallic deposits
including gold, silver, base metals, PGM and iron for both open pit and underground deposits. Software
packages utilized include Gemcom, Leapfrog, Whittle, NPV Scheduler, Vulcan, Ventsim, AutoCAD and
Deswik. P&E's 22 associates have experience in geological interpretation, 3D geological modelling,
technical report writing, Mineral Resources and Mineral Reserves Estimates, property evaluations, mine
design, production scheduling, operating and capital cost estimates, and metallurgical engineering.
ABOUT BONTERRA
Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets
anchored by a central milling facility in Québec, Canada. The Company's assets include the Gladiator,
Barry
(1)
, Moroy, and Bachelor gold deposits, which collectively hold 16.8 million tonnes ("
Mt
") at an
average grade of 3.02 g/t Au for 1.63 million ounces ("
Moz
") of Measured & Indicated Mineral
Resources, plus 15.6 Mt at an average grade of 4.32 g/t Au for 2.17 Moz Au of Inferred Mineral
Resources.
In November 2023, the Company entered into an earn-in and joint venture agreement with Osisko Mining
Inc. ("
Osisko Mining
") for the Urban-Barry properties (the "
JV Agreement
"), which include the
Gladiator and Barry deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian
subsidiary, completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the
counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by
incurring C$30 million in work expenditures on or before November 2026 (including expenditures
incurred by Osisko Mining prior to October 2024). This strategic transaction highlights Bonterra's
dedication to advancing its exploration assets, marking a significant step towards development.
(1)
See our press release from February 23, 2026, titled "Bonterra Reports Significant Mineral Resources Growth at Barry and Gladiator Deposits"
for further details.
FOR ADDITIONAL INFORMATION
Marc-André Pelletier, President & CEO
2872 Sullivan Road, Suite 2, Val d'Or, Québec J9P 0B9
819-825-8678 | Website:
www.btrgold.com
Neither 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.
Caution regarding forward-looking statements
This news release contains forward-looking statements within the meaning of applicable securities laws.
All statements other than statements of historical fact may be forward-looking and are often identified by
words such as "may", "will", "plan", "expect", "anticipate", "estimate", and "intend". Forward-looking
statements in this release include, without limitation, planned drilling activities at Bachelor and Moroy,
deep-drilling objectives at the Barry deposit, and Gold Fields' ability to complete the remaining earn-in
expenditures under the JV Agreement.
These statements are based on assumptions considered reasonable by management, including
assumptions regarding exploration plans, budgets, schedules, regulatory approvals, and the continued
advancement of work by Gold Fields. However, forward-looking statements involve known and unknown
risks, uncertainties, and other factors that may cause actual results to differ materially. Such risks
include, but are not limited to, changes to exploration plans, results that differ from expectations,
operational or permitting challenges, the ability of the parties to complete the Joint Venture, the timing
and completion of earn-in expenditures, the speculative nature of mineral exploration, commodity price
fluctuations, and the availability of financing. Additional information regarding risks can be found in the
Company's filings at
www.sedarplus.ca
.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does
not undertake to update any forward-looking statement except as required by applicable securities laws.
All forward-looking statements in this release are expressly qualified by this cautionary statement.
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