Bonterra Highlights Initial Drill Results from Gladiator SW Target; Announces 2025 Exploration Program at Phoenix JV with Gold Fields

Core Viewpoint - Bonterra Resources Inc. has reported initial assay results from the Gladiator Southwest target and announced a 2025 exploration program at the Phoenix joint venture with Gold Fields, highlighting significant progress in exploration activities and future drilling plans [1][2]. Exploration Results - Over 65,000 meters have been drilled with approximately C$18 million invested in the project under the joint venture agreement [2]. - The Gladiator SW target has seen 5,700 meters drilled across 13 holes, with a notable assay result of 20.3 g/t Au over 1.5 meters in hole PHX-24-0119 [3][7]. - The combined mineral resources at the Gladiator and Barry deposits are reported as 1.08 million ounces in Measured and Indicated categories and 1.68 million ounces in Inferred resources [2]. 2025 Exploration Program - Gold Fields is preparing a potential 15,000-meter drill program, focusing on the Barry Shear Zone and other identified targets [4][5]. - The program will utilize three to four drill rigs and is expected to commence later this year, pending approval [5]. - Additional fieldwork, including a gravity airborne survey, is planned for the upcoming summer [5]. Joint Venture Agreement - Gold Fields has the right to acquire a 70$30 million in work expenditures, with a minimum commitment of C$10 million per year over three years [1][12]. - The joint venture agreement was established following Gold Fields' acquisition of Osisko Mining, which previously held the project [12].