Bonterra Resources Inc.[ Discovers New High-Grade Vein on the Panache Property in the Urban Barry Region

In March 2019, the Company acquired the Panache property consisting of 1 claim which features a historic gold showing grading 21.9 g/t Au over 0.4 metres ("m"). (figures 1 and 2).

Figure 1: Location of the Panache Property

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The Panache property is located north of the Urban Barry greenstone belt along the Urban deformation corridor (figure 2). The Gladiator and Barry projects are located 20 kilometres ("km") southeast and 13 km south of the Panache property respectively (figure 1).

Figure 2: Thubière Claim Group Geological Setting

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Figure 3: Panache and New Discovery Outcrop Location

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In the summer of 2020, Bonterra mechanically stripped a high-grade gold quartz vein, known as the Boudreault Vein outcrop located 135 m northeast of the Panache Showing (figure 3). The northwest-southeast oriented vein, ranging in width from 20 centimeters to 1.5 m, was stripped over a length of 60 m (figure 4). There were 20 grab samples collected, of which 17 samples were taken from the vein itself (figure 4). The grades of the 17 samples taken directly from the vein range from 1.1 g/t Au to 79.2 g/t Au, with 8 samples with grades greater than 10 g/t Au (figure 4). Following these results, the 5 channels spaced about 10 m apart were taken from the stripped area (figure 4). A total of 48 channel samples from 0.4 m to 1.5 m in length were collected for a total length sampled of 33.2 m. The best result was 18.6 g/t Au over 1 m from channel 4. The outcropping vein has a sub-vertical dip, thus the reported thicknesses is equal to the true thicknesses.

Table 1: Channel Results

The newly discovered vein is contained in a narrow shear zone of 1 m to 2 m wide intersecting mafic rocks of the Urban Formation (figure 4). The average shear orientation is N290. The vein is composed of saccharoidal quartz and contains traces of sulphides. Very fine visible gold is observed in a quartz matrix. Numerous drag-folds are observed on the vein with hinges dipping 70 degrees to the southeast parallel with the observed stretching lineations. Quartzofeldspathic porphyritic intrusions of decimetric size oriented parallel to the east-west regional fabric locally intersect the shear (figure 4). This geological context is identical to that of the Panache Showing located 135 m southwest of the new discovery vein.

Table 2: Grab Sample Results

Figure 4: Boudreault Vein Map of stripping

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In July 2020, Bonterra commissioned Prospectair to conduct a high definition airborne magnetic survey on the Panache and Thubière properties. The Thubière property is located 5.5 km east of the Lake Thubière northeast showing which returned a drilling result of 13.7 g/t Au over 1.2 m (figure 2).

The Company plans to drill a minimum of 1,500 m on the Panache property with the primary objective of exploring the lateral and depth continuity of the Panache showing and the newly discovered high-grade gold quartz vein. The drill program will also test the possibility of finding other parallel veins based in particular on the interpretation of the airborne magnetic survey. The relationship between the discovered vein and the east-northeast and west-southwest oriented Urban deformation corridor will also be assessed.

Pascal Hamelin, Interim CEO and VP, Operations commented: "These very encouraging results in this newly explored area of the Urban Barry belt support the assumption that this region's gold potential is high. This bodes well for Bonterra with over 38,000 hectares in the region."

Quality control and reporting protocols

The Panache claims gold analysis is performed at the Bachelor Mine Analysis Laboratory. The analytical results were carried out by fire assay (A.A.) in the mine laboratory. The Company's QA-QC analytical verification program requires that at least 10% of samples be audited in an independent laboratory. These verification tests were sent to the ALS laboratory located in Val-d'Or, Quebec. The results of the audits are consistent with those obtained.

Qualified persons

Boris Artinian, P.Geo., Chief Geologist of the Company oversees all exploration activities on the Panache Claims. Mr. Artinian is a qualified person as defined by National Instrument 43-101 ("NI-43-101"). Marc Ducharme, P.Geo. and Bonterra's Principal Geologist, approved the information contained in this press release. Mr. Ducharme is a Qualified Person as defined by NI 43-101.

FOR ADDITIONAL INFORMATION:

Pascal Hamelin, Interim CEO and VP Operations
ir@btrgold.com
2872 Sullivan Road, Suite 2, Val d'Or, Quebec 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.

Cautionary and 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 Bonterra's exploration and development plans. 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.