Bonterra Reports Significant Mineral Resources Growth at Barry and Gladiator Deposits

Bonterra Resources Inc. has announced substantial growth in mineral resources at its Barry and Gladiator gold deposits in Quebec's Val-d'Or region, with updated estimates prepared by P&E Mining Consultants showing a combined 1.401 million ounces of Measured & Indicated resources at 2.90 g/t gold, representing a 30% increase from 2021 estimates. The company also reported 2.033 million ounces of Inferred resources at 4.32 g/t gold, bringing total contained gold to 3.434 million ounces across all categories.

The resource expansion reflects the integration of 118,800 meters of new drilling completed between 2021 and 2023, along with technical improvements including more conservative classification methodologies and increased minimum mining widths from 1.20m to 1.75m to align with industry standards. The Barry deposit contributed 0.874 million ounces across open pit and underground scenarios, while the higher-grade Gladiator underground deposit added 1.589 million ounces at impressive grades exceeding 5 g/t gold.

This resource update positions Bonterra favorably in Quebec's prolific Abitibi gold belt, with both deposits remaining open at depth and along strike. The company continues active drilling with two rigs testing extensions at Barry, while the overall Urban-Barry Camp demonstrates potential to host multiple multi-million-ounce deposits. The substantial resource growth, combined with improved technical parameters and higher gold price assumptions, strengthens the economic prospects for both deposits.

The updated estimates utilize more realistic economic parameters including a long-term gold price of US$2,850 per ounce compared to US$1,600 in 2021, reflecting current market conditions. With underground resources now constrained by optimized stope shapes following CIM best practices, these estimates provide a more robust foundation for future development studies and production planning in this established Quebec mining district.