Bonterra provides updates on Phoenix, Desmaraisville

Executive Summary

• Bonterra Resources reports ongoing exploration at its 100 % owned Desmaraisville South property and the Phoenix joint‑venture (JV) with Gold Fields, including the start of a 15,000 m drilling campaign on the Duke NE target.
• The company clarifies that 2,509,109 non‑transferable broker warrants were issued in its recent $10.5 M private placement (one more than previously disclosed).

Key Details

• Phoenix JV – Earn‑in Agreement: Gold Fields may earn a 70 % interest by spending $30 M total ($10 M minimum per year for three years); $20 M has been invested to date and over 65,000 m drilled.
• Exploration Work Completed:
• Airborne gravimetric survey finished; ground‑based gravimetric survey pending data analysis.
• B‑horizon soil sampling completed on Gladiator SW, Titan, and around Lac‑aux‑Loutres.
• Prospecting and mapping conducted on Gladiator SW, Titan, Panache, and other targets.
• Drilling Campaign – Phoenix JV:
• Mobilization of one drill rig on Duke NE target; Gold Fields plans up to three rigs for a total of 15,000 m of drilling.
• Targets include Gladiator NE and Titan along the Barry shear zone.
• Desmaraisville South – Current Drilling:
• 2,500 m drilled to date on Hewfran and Mistik targets.
• Planned 10,000–12,000 m drill program to be completed by year‑end, leveraging Vrify’s AI‑assisted DORA platform for target selection.
• Corporate Update – Private Placement:
• Upsized brokered private placement closed with $10.5 M gross proceeds (announced June 30, 2025).
• Correct number of non‑transferable broker warrants issued: 2,509,109 (previously misstated as 2,509,108).
• Qualified Person: M. Donald Trudel, P.Geo (OGQ No. 813), reviewed and approved all technical information per NI 43‑101.

Notable Quotes

“The exploration program, led by our joint venture partner Gold Fields, is progressing well and has provided several valuable insights ahead of the 15,000 m drilling campaign…” – Marc‑Andre Pelletier, President & CEO.