Bonterra Reports Significant Mineral Resources Growth at Barry and Gladiator Deposits
Press Release
Val-d’Or, QC – February 23rd, 2026 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce updated Mineral Resource Estimates (the “2026 MREs”) for the Barry and Gladiator deposits (the “Properties”). The 2026 MREs were independently prepared by P&E Mining Consultants Inc. (“P&E”) on behalf of the Company in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and are effective as of February 18, 2026.
Key Highlights:
- Barry and Gladiator combined 2026 MREs of 1.401 million ounces (“Moz”) of Measured & Indicated Mineral Resources at an average grade of 2.90 g/t Au contained within 15.025 million tonnes (“Mt”), and 2.033 Moz of Inferred Mineral Resources at an average grade of 4.32 g/t Au contained within 14.628 Mt.
- Combined contained gold ounces increased by 30% in Measured & Indicated Mineral Resources and by 21% in Inferred Mineral Resources relative to the 2021 Mineral Resource Estimates (the “2021 MREs”).
- Barry MREs (Open Pit): 0.417 Moz of Measured & Indicated Mineral Resources grading 1.67 g/t Au within 7.794 Mt, and 9 Koz of Inferred Mineral Resources grading 2.32 g/t Au within 125 Kt.
- Barry MREs (Underground): 0.457 Moz of Measured & Indicated Mineral Resources grading 3.47 g/t Au within 4.092 Mt, and 0.962 Moz of Inferred Mineral Resources grading 3.41 g/t Au within 8.789 Mt.
- Gladiator MREs (Underground): 0.527 Moz of Measured & Indicated Mineral Resources grading 5.23 g/t Au within 3.139 Mt, and 1.062 Moz of Inferred Mineral Resources grading 5.78 g/t Au within 5.714 Mt.
Marc-Andre Pelletier, President and CEO commented: “The updated 2026 MREs prepared by P&E, combined with additional drilling completed since 2021, has resulted in a significant increase in Mineral Resources across all classifications for the Properties. Overall, the quality of the 2026 MREs has improved, highlighted by a 30% increase in Measured & Indicated Mineral Resources, along with important technical enhancements, including a more conservative Mineral Resource classification methodology and an increase in the minimum mining width from
1.20 m to 1.75 m, more closely aligned with industry standards. Both deposits remain open at depth and along the eastern down-plunge, particularly at Barry, where two drill rigs are currently testing extensions of the mineralization. Most importantly, the Urban-Barry Camp continues to demonstrate its potential to host multiple multi-million-ounce gold deposits.”
2026 MREs Details & Assumptions
Data Analysis
- The 2026 MREs include new drilling performed by Bonterra from 2021 to 2023, including 86,985 m drilled containing 81,370 assays at Barry and 31,815 m drilled containing 26,811 assays at Gladiator.
- A total of 1,313 drill holes and 302,424 m drilled containing 193,463 assays are considered for the Barry deposit and 553 drill holes and 256,794 m drilled containing 150,263 assays for the Gladiator deposit.
- Revision of the capping threshold for particular mineralized zones based on geological and structural groupings.
- A more robust classification strategy based on field observations in historical pit, oriented drill core and robust variography.
Geology Interpretation and Modelling
- Extensive drilling conducted after 2021 extended mineralization both down dip and along strike for both Barry and Gladiator Deposits.
- Revised modelling interpretations resulting from oriented core drilling.
- Revised modelling interpretations and cut-off resulting from increased metal prices.
- Increased minimum mining width from 1.20 m to 1.75 m now more closely aligned with industry standards.
- All blocks within the 2026 underground MREs are constrained by stope shapes as recommended by the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.
The table below shows the comparison between the 2021 and 2026 MREs:
IBF4
