Resource World Magazine

30 www.resourceworld.com J U N E / J U L Y 2 0 1 6 miNiNg BONTERRA RESOURCES INC. [BTR- TSXV; BONXF-OTC; 9BR1-FSE] has received TSX Venture Exchange approval to earn a 100% interest in the Larder Lake gold property from Kerr Mines Inc. [KER-TSX] for staged cash payments totalling $1,150,000 and issuing 10 mil- lion shares. Upon closing, Kerr Mines will hold approximately 14.2% of BonTerra's issued shares. The property is located near Virginiatown in McVittie and McGarry Townships, northeast Ontario. "We are extremely pleased to receive the final exchange approval on the acquisi- tion of the Larder Lake property from Kerr Mines. The historical gold resources known to exist at the Larder Lake property, when combined with the current resource base at BonTerra's Gladiator gold project, imme- diately transforms the company to a leader amongst its peers. Our technical team can now take action to unlock the potential at the Larder Lake property and the key dis- trict along the Cadillac-Larder break," said Nav Dhaliwal, President and CEO. The Larder Lake property hosts the Bear Lake deposit which has a histori- cal inferred mineral resource (2011, P+E Mining) of 3,750,000 tonnes grading 5.7 g/t (683,000 oz). The Cheminis deposit contains a historical indicated mineral resource (2011, P+E Mining) of 335,000 tonnes at 4.1 g/t (43,800 oz) and inferred of 1,391,000 tonnes at 5.2 g/t (233,400 oz). Being historical resources, they are not NI 43-101 compliant. The Larder Lake gold property straddles a 9 km strike length of the Cadillac/Larder Lake break, a prolific regional fault zone that hosts numerous historic and active gold mines, including the historic Kerr Addison Mine 5 km east (11 million oz gold produced). The property is road accessible and has power. Central to the Larder Lake prop- erty is the Cheminis property, otherwise known as the Cheminis Mine, which includes a vertical shaft to a depth of 1,085 feet, with six levels of which the deepest is at 1,035 feet. Intermittent past produc- tion from the Cheminis Mine totaled approximately 260,000 tons at a recovered grade of about 0.104 oz gold/ton. Gold Fields entered into an option in 2012 to earn a 60% interest in the Bear Lake properties by spending $40 million in exploration and development. After three years of work, Gold Fields terminated the option last year when all exploration activi- ties worldwide were cancelled. Kerr Mines is in possession of their results and data. On another gold project in the Abitibi gold belt, BonTerra has received high-grade, gold, drill results from its 100%-owned Gladiator Project north of Val d'Or, Québec. As of late April, assays from 11 of 19 drill holes have been received. The drilling extended the Main Zone to the west and returned 10 metres grad- ing 9.3 g/t gold and also discovered a new South Zone where one intercept returned 3.0 metres of 20.7 g/t gold. When the current drilling program is completed, BonTerra will define, target and prepare the next drilling campaign and summer surface work. This program is expected to continue with drilling of the main zones, follow up on the recent discoveries, drilling in order to extend the deposits to the east, and follow up on tar- gets identified on the Coliseum property to the west. n BonTerra acquiring Larder Lake gold property

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