Mr. Marc-Andre Pelletier reports

BONTERRA CONGRATULATES OSISKO MINING ON C$2.16 BILLION FRIENDLY TAKEOVER BY GOLD FIELDS

Bonterra Resources Inc. has congratulated Osisko Mining Inc. on its recent announcement that it has entered into a definitive arrangement agreement dated Aug. 12, 2024, pursuant to which Gold Fields Ltd., through a 100-per-cent-owned Canadian subsidiary, has agreed to acquire all of the issued and outstanding common shares of Osisko at a price of $4.90 per share, in an all-cash transaction valued at approximately $2.16-billion on a fully diluted basis.

The consideration represents an approximately 55-per-cent premium to the 20-day volume-weighted average trading price per share on the Toronto Stock Exchange for the period ended Aug. 9, 2024, being the last trading day prior to the announcement of the transaction.

Marc Andre Pelletier, president and chief executive officer, commented: "We extend a well-deserved congratulations to our neighbours and joint venture partners, Osisko Mining, on this important milestone. The significant premium paid by Gold Fields underscores the value of the Windfall gold project and its highly prospective exploration camp. We are confident that this transaction will further drive growth and development in the region. We look forward to continuing the joint venture with our new partner Gold Fields and to the shared success that lies ahead."

About Bonterra Resources Inc.

Bonterra Resources is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The company's assets include the Gladiator, Barry, Moroy and Bachelor gold deposits, which collectively hold 1.24 million ounces in measured and indicated categories and 1.78 million ounces in the inferred category.

In November, 2023, the company entered into an earn-in and joint venture agreement with Osisko for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a 70-per-cent interest by incurring $30-million in work expenditures. This strategic transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant step toward development.

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