Mr. Marc-Andre Pelletier reports

BONTERRA COMMENCES 2024 DRILLING CAMPAIGN AT ITS 100% OWNED DESMARAISVILLE SOUTH PROJECT

Bonterra Resources Inc. has started a diamond drilling program at its 100-per-cent-owned Desmaraisville South project. Several prospective geological, geophysical and drill targets have been identified throughout the year and have been prioritized following last summer's fieldwork carried out by Bonterra's geology team. A drill rig has been mobilized to site, and the company plans to drill from 4,000 to 6,000 metres before the end of the year. Please refer to the press releases dated May 16, 2024, Feb. 27, 2024, Feb. 5, 2024, Dec. 14, 2023, and Dec. 4, 2023, for exploration updates on the Desmaraisville North and Desmaraisville South projects as well as the surrounding area.

Marc-Andre Pelletier, president and chief executive officer, commented: "The commencement of exploration at our 100-per-cent-owned Desmaraisville South project follows the diligent efforts of our geologists to design an optimal drilling program targeting several promising areas. Our primary goal for this campaign is to discover new mineralized lenses within 15 kilometres of the Bachelor mill complex. Concurrently, the company is considering an update to the 2021 mineral resource estimate for the Barry and Gladiator deposits (see press release dated June 23, 2021). Since the 2021 MRE, Bonterra has completed over 100,000 m of diamond drilling in and around the Barry and Gladiator deposits. This exploration comes amid a favourable increase in the price of gold, which was assumed at $1,600 (U.S.) per ounce in the 2021 MRE.

"At our Phoenix JV [joint venture], the compilation work continues following the 60,000 m drill campaign that was completed in July. Drilling activities are expected to continue later this year, with Gold Fields Ltd. as the operator of the Phoenix JV."

Qualified person

M. Donald Trudel, PGeo (OGQ No. 813), director geology for the company, oversees all exploration activities on the Desmaraisville property and has compiled and approved the information contained in this press release. Mr. Trudel is a qualified person, as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Bonterra Resources Inc.

Bonterra 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 the measured and indicated categories and 1.78 million ounces in the inferred category.

In November, 2023, the company entered into an earn-in and a joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. In August, 2024, Gold Fields announced the acquisition of Osisko Mining for $2.16-billion. Over the next three years, Osisko Mining (now Gold Fields) can earn a 70-per-cent interest by incurring $30-million in work expenditures. This strategic transaction highlights Bonterra's commitment to advancing its exploration assets in a fast-growing and consolidating gold camp.

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