Bonterra Resources Announces Final Gold Sale from its Bachelor Mill Cleanup
Bonterra Resources Announces Final Gold
Sale from its Bachelor Mill Cleanup
Val-d'Or, Quebec--(Newsfile Corp. - November 30, 2023) -
Bonterra Resources Inc. (TSXV: BTR)
(OTCQX: BONXF) (FSE: 9BR2)
("
Bonterra
" or the "
Company
") is pleased to report it has recovered
and sold 1,346.5 ounces of gold in total, generating gross revenue of C$3.6 million (including the first
gold sale announced on August 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 C$0.9 million for a net revenue of C$2.7 million.
Marc-André Pelletier, President and CEO, commented: "Following the receipt of an additional C$4
million from the recent transaction with Osisko Mining and the abovementioned gold sales, the Company
should now have enough funds to complete this year's 15,000 meters drill campaign at our 100%-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-André Pelletier, P.Eng., (OIQ # 113978) President and CEO 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 on 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 a 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% interest by incurring $30 million in work expenditures. This strategic
transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant
step towards development.
FOR ADDITIONAL INFORMATION
Marc-André Pelletier, President & CEO
2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-279-9304 | 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 press release contains "forward-looking information" that is based on Bonterra's current
expectations, estimates, forecasts, and projections. This forward-looking information includes, among
other things, statements with respect to the earn-in and joint venture agreement with Osisko Mining
announced on November 28, 2023. The words "will", "anticipated", "plans" or other similar words and
phrases are intended to identify forward-looking information. This forward-looking information includes
namely information with respect to the planned exploration programs and the potential growth in mineral
resources. Exploration results that include drill results on wide spacings may not be indicative of the
occurrence of a mineral deposit and such results do not provide assurance that further work will establish
sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a
category of mineral resource. The potential quantities and grades of drilling targets are conceptual in
nature and, there has been insufficient exploration to define a mineral resource, and it is uncertain if
further exploration will result in the targets being delineated as mineral resources. Forward-looking
information is subject to known and unknown risks, uncertainties and other factors that may cause
Bonterra's actual results, level of activity, performance, or achievements to be materially different from
those expressed or implied by such forward-looking information. Such factors include but are not limited
to: uncertainties related exploration and development; the ability to raise sufficient capital to fund
exploration and development; changes in economic conditions or financial markets, environmental and
other judicial, regulatory, political, and competitive developments; technological or operational difficulties
or inability to obtain permits encountered in connection with exploration activities; and labour relations
matters. This list is not exhaustive of the factors that may affect our forward-looking information. These
and other factors should be considered carefully, and readers should not place undue reliance on such
forward-looking information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/189123