Bonterra Files NI 43-101 Technical Report for the Barry and Gladiator Deposits

Bonterra Resources filed an NI 43‑101 technical report on 9 Apr 2026 covering its Barry and Gladiator gold deposits (Phoenix joint‑venture with Gold Fields). The report, prepared by P&E Mining Consultants, confirms:

• Measured & Indicated resources of 1.63 Moz Au at 3.02 g/t (16.8 Mt)
• Inferred resources of 2.17 Moz Au at 4.32 g/t (15.6 Mt)

The filing reiterates the joint‑venture earn‑in provision that Gold Fields can acquire a 70 % interest by spending C$30 million before Nov 2026, with C$10 million required each year.

• Resource confirmation – The numbers are consistent with earlier updates (Feb 2026 MRE: 1.401 Moz M&I; Mar‑Apr 2026 NI 43‑101 adds a modest increase to 1.63 Moz). No surprise element; the market already priced in the upward trend from prior releases (Feb 23 % growth, Apr 42 % growth at Bachelor/Moroy).
• Earn‑in deadline – The filing underscores the approaching Nov 2026 earn‑in cut‑off. If Gold Fields fails to meet the spend, Bonterra retains 100 % of the assets, which is a positive upside but already reflected in recent financing activity (C$5 m credit facility, $10.5 m private placement).
• Overall materiality – The news is a routine confirmation of previously disclosed resource growth and JV terms; it does not materially shift valuation expectations beyond what analysts have priced in.

Bonterra Resources focuses on gold projects in Quebec, Canada. Its flagship assets are:

• Phoenix JV (Barry & Gladiator deposits) – Joint‑venture with Gold Fields; potential 70 % earn‑in by Nov 2026.
• Desmaraisville South (Bachelor, Moroy, Hewfran zones) – 100 % owned, located <500 m of the historic Bachelor mill, supporting a low‑cost restart scenario.