Bonterra Resources Provides Corporate Update and Defines Significant Exploration Potential at the Titan Extension with 12.4 g/t Au over 5.3 m

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Bonterra Resources Provides Corporate Update and Defines Significant

Exploration Potential at the Titan Extension with 12.4 g/t Au over 5.3 m

Vancouver, BC – January 21, 2019: Bonterra Resources Inc. (TSX-V: BTR, OTCQX:

BONXF, FSE: 9BR1) (the “ Company” or “ Bonterra”) is pleased to report ongoing

developments to its shareholders and investors and announce follow up drill results of 12.4 g/t Au

over 5.3m from the recently discovered Titan Extension of the Gladiator Deposit. Bonterra’s

recent acquisition of Metanor Resources Inc. and consolidation of the Company’s databases and

management have resulted in broader exploration and resource de velopment plans. Bonterra will

conduct a company-wide NI 43-101 mineral resource estimate for all its Urban Barry exploration

assets, including the Gladiator, Barry and Moroy deposits. The combined mineral resource

estimate is part of Bonterra’s strategy to fast track the devel opment of the three deposits

simultaneously, to optimize feed to the Urban Barry Mill over the life of the three mines. In order

to concentrate on the exploration of all three deposits, the Company’s mining operations in Quebec

will be placed on care and maintenance.

Multiple new discoveries and extensions at the Gladiator Deposit have significantly increased the

strike length of mineralization to nearly 5 km. Extensional dri lling, made possible by land access

via the Duke option agreement, has resulted in a dramatic increase in the gold-bearing footprint at

the Gladiator Deposit, especially in proximity to former claim boundaries. Bonterra was previously

limited by these claim boundaries and has since been able to access areas of the deposit that were

formerly unavailable. Follow up drilling to the recently discov ered Titan Extension of the

Gladiator Deposit (see Bonterra n ews release dated November 20, 2018) has confirmed and

expanded on the initial discovery with drill hole BA-18-116 intersecting 12.4 g/t Au over 5.3 m.

This intersection is located approximately 2 km northeast of the Gladiator Deposit along strike and

is 200 m below surface. Drilling in 2019 will be focused on re source expansion along strike and

at depth as well as infilling high-grade chutes of the main dep osit below 400 m depth to further

prove the continuity of these new zones. Bonterra has determine d that these new extensions at

Gladiator Deposit should be incorporated into the resource as m uch as possible given that the

Company has only recently gaine d full access to drill these are as via the Duke option. The

company-wide mineral resource estimate will allow Bonterra to incorporate drill results from late

2018 and early 2019 at the Gladiator deposit into the study whi le data is being prepared for the

estimate at the Barry and Moroy Deposits.

Bonterra has completed extensive geological modelling at both t he Barry and Moroy Deposits,

which are now being used to complete the upcoming mineral resou rce estimates. The mineral

resource estimate will be the first to evaluate the high-grade underground mineralization at the

Barry Deposit and the recently discovered Moroy Deposit. The Barry Deposit is 1,300 m in strike

length with a depth component of 600 m. A small underground ramp was developed in 2018 into

the mineralized zones for future bulk sample programs and underground drill stations. The Moroy

Deposit has demonstrated continuity and extension for up to 700 m in depth. The 11th Level (350

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m below surface) at Moroy extends from Bachelor Mine workings to the known mineralized zone.

The Barry and Moroy deposits have been extensively drilled from surface and underground drill

stations and remain open in all directions. The recent undergro und development work at both

projects will provide opportunity for the Company to determine and extend ultimate strike lengths

at various levels.

Bonterra is actively working with its independent resource consultants to best utilize the early 2019

drill programs for increasing i ndicated vs inferred mineral res ources which are required for

potential economic, feasibility and mine planning studies.

The Company would like to thank its shareholders and investors for their continued support and

confidence. We look forward to a productive and successful 2019.

Bonterra Resources Quick Facts:

 Control of three high-grade gold deposits (Gladiator, Moroy and Barry) and significant

regional targets

 100% ownership of the Urban-Barry Mill, the only permitted gold mill in the region

 Strong shareholder base including: Eric Sprott and Kirkland Lake Gold

 Company-wide NI 43-101 Mineral Resource Estimate underway to include the Gladiator,

Barry and Moroy deposits

Robert Gagnon, P.Geo., has approved the information contained i n this release. Mr. Gagnon is a

director of Bonterra and is a Qualified Person as defined by NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS,

Nav Dhaliwal, President & CEO

Bonterra Resources Inc.

For further information on Bonterra, contact Investor Relations

Telephone: 1 844 233 2034

Email: [email protected]

Website: www.bonterraresources.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.

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

Bonterra’s exploration and development plans. The words "will", "anticipat ed", "plans" or other similar words and

phrases are intended to identify forward-looking information. 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; increases in input

costs; litigation, legislative, environmental and other judicial, regulat ory, political and comp etitive developments;

technological or operational difficulties or inability to obtain permits encountered in connection with exploration

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activities; and labor 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. Bonterra disclaims any intention or obligation to update or revise forward-looking

information, whether as a result of new information, future events or otherwise