BonTerra Resources Inc. (TSX VENTURE:BTR) (FRANKFURT:9BR) (the "Company" or
"Bonterra") announces that it has entered into an option to acquire additional
claims (the "Abitex Claims" or the "Property") directly east of the Urban-Barry
Township Property from Abitex Resources. To earn a 50% interest in the Property,
the Company must issue a total of 1,250,000 common shares, make a cash payment
of $10,000 and incur total exploration expenditures of $750,000 over four years.
To earn a 100% interest in the Property, the Company must issue an additional
100,000 common shares and make a further cash payment of $100,000. The Property
is subject to a 2% NSR of which 1% can be purchased for $500,000. A finder's fee
will be payable on this transaction pursuant to the policies of the TSX Venture
Exchange. 


The Abitex Claims have been the subject of diamond drilling in the 1990's by
Xemac Resources. In a news release dated January 13, 1998, Xemac Resources
announced drilling results for their winter drilling program, none of which are
NI 43-101 compliant. The first phase of drilling by Xemac delineated two gold
zones on the Property, Zone 1 and Zone 2. The first phase of drilling was a 5
hole program (BL-97-01 to BL-97-05). All intercepts highlighted below are core
length and non NI 43-101 compliant. Zone 1 was intercepted in BL-97-01. This
hole intercepted 22 metres at 8.31g/t gold. Within this intercept there was a
sub intercept reported at 13.2 metres at 13.5g/t gold as documented by the news
release dated January 13, 1998. This hole was drilled along the main structure
in order to verify the presence of related, conjugate and subsidiary structures
and auriferous veins. Mineralization in Zone 1 is associated with a zone of
quartz veining associated with brittle-ductile shear zones. Strongly sheared
carbonate altered rock is also noted for Zone 1.


A 22 hole phase 2 drill program on the property tested a second mineralized
structure which is situated immediately north of Zone 1. This mineralized
structure was named Zone 2. In 1998, the strike of zone 2 was said to be 450
feet (137.16 metres) from the surface to a depth of 300 feet (91.44 metres).
Zone 2 is hosted by a contact related ENE striking, SSE dipping shear zone which
has been intruded by a narrow conformable felsic and siliceous intrusive. Gold
mineralization in Zone 2 is primarily found as free visible millimetric grains
in quartz veins. The best mineralization is found in these quartz veins which
are located at the boundaries of the felsic intrusive within the shear zones.
Significant drill intercepts for zone 2 are shown in the table below, highlights
of historical drill intercepts (non NI 43-101 compliant). 




----------------------------------------------------------------------------
Highlights of Historical Drill Intercepts (Non NI 43-101 Compliant) Zone 2- 
Abitex Claims                                                               
----------------------------------------------------------------------------
DDH         Zone FROM (ft) To (ft) LENGTH (ft) Gold Oz/t Length (m) Gold g/t
----------------------------------------------------------------------------
BL-97-06       2   100.80  112.60        11.8      0.804      3.60     27.58
----------------------------------------------------------------------------
BL-97-13       2   187.50  194.20        6.70      0.600      2.04     20.58
----------------------------------------------------------------------------
BL-97-17       2    79.00   85.50        6.50      0.512      1.98     17.56
----------------------------------------------------------------------------
BL-97-24       2   190.00  192.50        2.50      0.812      0.76     27.85
----------------------------------------------------------------------------
BL-97-25       2   328.00  330.00        2.00      1.435      0.61     49.20
----------------------------------------------------------------------------



The Company plans on testing these historical mineralized structures on the
Property in their drill program. The Company believes these parallel mineralized
structures with historical (non NI 43-101 compliant) drill intercepts is the
logical location to commence the 2000 metre drill program. Geologica Inc. of Val
d'Or, Quebec will be responsible for overseeing the drill program on behalf of
the Company. Since 1985, Geologica Inc., a diverse mining exploration consulting
company, has worked on over 500 exploration projects to date. 


Company President, Mitchell Adam states, "These claims are situated directly
east of the main Urban-Barry Property. The presence of parallel mineralized
structures on the Abitex Claims which was drill tested in the late 1990's makes
this acquisition the logical starting point of our 2000 metre drill program."


The Property is located approximately 170 km NE of Val-d'Or and 125 km SW of
Chibougamau in the Urban township in James Bay, Quebec. Neighboring companies in
the region are Amseco, Beaufield, BonTerra, Eagle Hill, Glen Eagle, Metanor, and
Urbana.


Acquisition of the Property is subject to the acceptance of the TSX Venture
Exchange.


The Company also announces that it has granted incentive stock options, pursuant
to the Company's stock option plan, to its directors, officers, and consultants
for the purchase of up to 1,300,000 common shares of the Company for a period of
two years at a price of $0.15 per share.


The technical information in this news release has been prepared in accordance
with the Canadian regulatory requirements set out in National Instrument 43-101
and reviewed on behalf of the Company by Thomas Clarke, Pr.Sci.Nat., a qualified
person.


ON BEHALF OF THE BOARD

BONTERRA RESOURCES INC.

Mitchell Adam, President, Director 

This press release contains projections and forward-looking information that
involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements based on
current expectations involving a number of risks and uncertainties and are not
guarantees of future performance of BonTerra such as the statement that: There
are numerous risks and uncertainties that could cause actual results and
BonTerra's plans and objectives to differ materially from those expressed in the
forward-looking information, including: (i) the inability to obtain exchange
approval and (ii) other factors beyond BonTerra's control. Actual results and
future events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on the dates they
are made and are expressly qualified in their entirety by this notice. Except as
required by law, BonTerra assumes no obligation to update forward-looking
information should circumstances or management's estimates or opinions change.


BonTerra Resources (TSXV:BTR)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024 Plus de graphiques de la Bourse BonTerra Resources
BonTerra Resources (TSXV:BTR)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024 Plus de graphiques de la Bourse BonTerra Resources