BonTerra Resources Inc. Acquires Additional Claims Adjacent to First Gold Exploration's Rare Metals and High Grade Lithium Discovery
The 22 claims encompass approximately 1,165 hectares (or 11.6 sq. km) and were staked via map designation by Terrax Management. The claim block is pending registration by the Government of Quebec; however, its acceptance is expected any day. The Company has other mineral claims pending in the area and once all claim groups have been accepted it will give the Company a strong presence in the district.
The claims acquired cover the same general geology as ground owned by First Gold and lie in close proximity of known pegmatite dykes in the region which are host to rare metals including Li, Rb, Ta, and Be.
First Gold announced on January 21, 2010, the discovery of rare metals on its Pivert-Rose Property in Quebec, including up to 4.6% Li2O from a grab sample. Following the discovery, the company announced on January 25, 2010, drill results for hole LR-09-02 with 2,922 g/t Rb over 4.74 m (true width). Further drilling results released on February 2, included hole LR-09-10 with 3,558 g/t Rb and 1.25% Li2O over 9.55 m (true width), and on February 3, hole LR-09-03 with 341 g/t Ta2O5 over 4.53 m (true width). The reader is cautioned as exploration results on the Pivert-Rose Property do not guarantee similar results on the Company's claim block.
Under the terms of the Acquisition Agreement, the Company will acquire 100% mineral interest in the claim block from Zimtu Capital Corp. and Terrax Management (the "Vendors"). In consideration for the property the Vendors will receive $50,000 and 2,000,000 shares payable on TSX-Venture Exchange approval. The property is subject to a 2% Net Smelter Return Royalty, of which one half (1%) may be purchased back for $1,000,000.
Graeme Sewell, Director states, "The Company is very pleased to have secured this strategic property. It is adjacent to and contiguous to the First Gold property and shares the same geology. This gives BonTerra a sizable portfolio in the region. The Company having recent closed a financing is in a good position to begin to multiple work programs this spring."
Darren L. Smith, M.Sc., P.Geol, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/ Mitchell Adam
Mitchell Adam
President, Director
For further information contact:
Mitchell Adam
info@bonterraresources.com
www.bonterraresources.com
Tel: (604) 669-9330
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Bonterra Initiates Exploration Program At Symphony Rare Earth Property, Houston B.C.
The adjacent Silver Queen property has been the focus of many exploration and development programs since its initial discovery in 1912. The Bradina joint venture took the property into production during 1972 to 1973. In the late 1980s an extensive development and exploration project was conducted consisting of surface and underground diamond drilling and lateral development on three underground levels. Under the direction of Houston Metals Corp., Cominco Engineering Services Ltd. conducted a feasibility study in 1988. The metal recoveries with the technology available at that time precluded a production decision. Occurrences of silver, gold, copper, lead, zinc, gallium, indium and germanium have been established by previous work.
BonTerra management believes the Silver Queen mineralization extends north onto the Symphony property.
The Company also announced a non brokered private placement of 5,000,000 units at $0.15 per unit for total gross proceeds of $750,000. Each unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share at a price of $0.20 per share for a period of two years from the date of closing. This placement is subject to TSX Venture Exchange approval,
The proceeds of the placement will be used for general working capital.
Finders' fees may be payable in whole or in part on the units issued under the financing, in accordance with TSX Venture Exchange policy.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/ Mitchell Adam
Mitchell Adam
President, Director
For further information contact:
Mitchell Adam
info@bonterraresources.com
www.bonterraresources.com
Tel: (604) 669-9330
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Bonterra Increases Gold Claims, Stewart, B.C.
The Stewart area has been the focus of increased staking activity due partly to the recent results from Decade Resources Ltd. ("Decade"), their Montrose gold discovery announced on its Red Cliff property. Decade recently announced (Stockwatch Sept. 3, 2009) drilling results of 7.3 grams per ton of gold across 28.3 metres and 5.78 grams per ton across 28.4 metres and 7.5 grams per ton gold across 32.5 metres; Ascot Resources Ltd. (Stockwatch Sept. 22, 2009) announced drill intercepts including 11 metres of 50 grams per ton. As a result, BTR (Stockwatch Sept. 17, 2009) recently acquired the Long Lake claims which are between the Decade Red Cliff and the Ascot Premier properties. BTR is in the process of commissioning a property report which will compile all the historical work on the Long Lake claims. The Company plans to initiate a work program shortly. The property is located adjacent to Long Lake, 22 km north of Stewart and can be accessed year round.
President, Mitchell Adam states, "The recent drilling succeses and increased staking activity in the region prompted the Company to add to its current claim group. Bonterra now holds two large contiguous exploration properties in the region."
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/ Mitchell Adam
Mitchell Adam
President, Director
For further information contact:
Mitchell Adam
mitchellgadam@shaw.ca
www.bonterraresources.com
Tel: (604) 669-9330
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Acquisition Of Long Lake Claims Stewart, B.C.
BonTerra's acquisition costs are a total of $32,000 and two million shares payable on exchange approval. The property is subject to a 2-per-cent net smelter return royalty, of which one-half (1 per cent) may be purchased back for $1-million.
The company will be paying a finders fee on this transaction and will be subject to a hold period as required by applicable securities laws.
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 Jerry Carlson, P. Eng. a qualified person.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/ Mitchell Adam
Mitchell Adam
President, Director
For further information contact:
Mitchell Adam
mitchellgadam@shaw.ca
www.bonterraresources.com
Tel: (604) 669-9330
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: (i) the closing of the transaction may occur; and (ii) the combination creates the opportunity to develop a sustainable and profitable mining operation within a low-risk political jurisdiction. 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 close the transaction for any reason; (ii) the inability to close the financing; (iii) the inability to obtain exchange approval (iv) a continued downturn in general economic conditions; (v) decreased demand for minerals and lower mineral prices; (vi) the inherent uncertainties and speculative nature associated with mineral exploration; (vii) any number of events or causes which may delay or cease exploration and development of BonTerra's property interests; (viii) the risk that BonTerra does not execute its business plan; (ix) inability to finance operations and growth; and (x) 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Release
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/ Mitchell Adam
Mitchell Adam
President, Director
For further information contact:
Mitchell Adam
mitchellgadam@shaw.ca
www.bonterraresources.com
Tel: (604) 669-9330
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: (i) BonTerra may raise up to Cdn$500,000 in the non-brokered offering and up to $15,000,000 in the brokered offering;(ii) the Company may acquire the Red Mountain Property; and (iii) BonTerra may carry out a drill program on its Willoughby claims. 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) receipt of approval from the TSX Venture Exchange with respect to the financing; (ii) the ability of BonTerra to close the financing; (iii) general economic conditions; (iv) fluctuations in mineral prices; and (v) the ability of BonTerra to execute its business plan. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.