Bonterra to Acquire Strategic Property Position from Beaufield Resources Surrounding Gladiator Gold Deposit
1680‐200 Burrard Street
Vancouver, BC V6C 3L6
Office: 604.678.5308
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www.bonterraresources.com
Bonterra to Acquire Strategic Property Position from Beaufield Resources
Surrounding Gladiator Gold Deposit
Vancouver, BC – May 23, 2018: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF,
FSE: 9BR1) (the “Company” or “ Bonterra”) is pleased to announce that it has entered into a
letter of intent (“ LOI”) with Beaufield Resources Inc. (TSX-V: BFD) (“ Beaufield”), whereby
Beaufield has granted the Company an option to acquire a 70% in terest (the “ Option”) in 81
strategic mineral claims totali ng 3,590 hectares, located in th e Urban Barry Greenstone belt,
Quebec, Canada, and known as the Duke property (the “Property”).
The Property is an assemblage of contiguous mineral claims loca ted immediately adjacent to the
northern boundaries of the Compan y’s Urban Barry properties con taining the Gladiator Deposit
and extensions. This includes a narrow inset of claims that in terrupt the western continuity of
claims in the Gladiator region known as “The Gap”. This land p ackage also contains numerous
gold showings with expansion potential including Lac Rouleau and Zone 18. The general geology
is considered to be similar to that of the Gladiator area, with numerous occurrences of structurally
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controlled shear hosted vein mineralization on or near mafic volcanic contacts in proximity to both
felsic and mafic intrusive units.
“The ability to secure the strategic mineral cl aims immediately north and to the west of the
Gladiator Gold Deposit is a significant milestone for the Company, as we continue to de-risk and
advance the project. The additional claims solidify our land position within the Urban Barry Gold
Camp, increase our property portfolio significantly and provide new exciting regional exploration
targets that our technical team has identified. I wish to congratulate the current management of
Beaufield for having the vision and understandi ng that proper exploration should never be
hindered by claim boundaries and for making a decision that will greatly benefit shareholders of
both companies,” commented Nav Dhaliwal, President and CEO of Bonterra.
Dale Ginn, VP Exploration added, “Seamless exploration of potential western and north eastern
extensions of the Gladiator Deposit is now po ssible without hinderance of nearby property
boundaries. Deeper drilling of Gladiator will also be much more practical from land based
locations as we can now step further to the no rth with our collar loca tions. The knowledge we
have gained from the past few years of successful exploration and expansion of the Gladiator and
surrounding region will most certainly be applied to the Duke property with the same intensity.”
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Under the terms of the LOI, which will be formalized by a definitive agreement, Bonterra can earn
a 70% interest in the Property by issuing 4,000,000 common shares to Beaufield upon acceptance
of the transaction by the TSX Venture Exchange, paying Beaufiel d a total of $750,000 in equal
amounts over a three-year period, and incurring a total of $4,5 00,000 in exploration expenditures
on the Property over three years.
Upon completion of the Option, the parties will enter into a jo int venture agreement on standard
industry terms.
The transaction is subject to the acceptance of the TSX Venture Exchange.
Bonterra Resources Quick Facts:
Well financed with approximately $65 million raised in past 14 months.
Strong Shareholder Base including: Eric Sprott, Van Eck, Kirkland Lake Gold
Gladiator Gold Deposit:
o Deposit extension and resource expansion underway with 60,000 m completed in 2017
and 70,000 m planned for 2018.
o Advancing to the completion of an updated NI 43-101 Mineral Res ource Estimate in
the second half of 2018.
o Drilled dimensions of the Gladiator Gold Deposit are currently outlined to a depth of
1,000 m below surface, and a strike length of 1,200 m.
o Gladiator remains open in all directions, where at least six di stinct sub-parallel zones
or mineralized horizons have been identified.
o Drilling is currently focused on the continued expansion of Gla diator Gold Deposit
and exploration targets within the 10,541-hectare Urban-Barry property.
Larder Lake Gold Property:
o 100% controlled 2,221-hectare in the Cadillac-Larder Break camp in Ontario (refer to
March 17, 2016 news release highlighting historical gold resource).
o Excellent access to three high grade gold deposits between Kirk land Lake and
Virginiatown.
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
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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
activities; and labour relations matters. This list is not exhau stive 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.