Bonterra Resources, Inc. · TSXV:BTR
Bonterra Resources — Investor Presentation (July 2021)
31 slides from Bonterra Resources's investor presentation, July 2021
Slide 1: Developing Québec's Next Gold Camp
TSX-V BTR | OTCQX BONXF | FSE 9BR2 Developing Québec’s NEXT GOLD CAMP Exploration and Development in the Urban-Barry Camp July 2021 TSX-V BTR | OTCQX BONXF | FSE 9BR2 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking information" within the meaning of Canadian securities legislation. Any information herein with respect to predictions, expectations, projections, objectives, assumptions or future events that are not historical facts may be "for
Slide 3: Executive Summary
Executive Summary Bonterra is a publicly traded gold exploration and development company with over 3 million ounces of total gold resources and the only permitted mill in the Urban-Barry Camp of Québec, Canada where several new discoveries have been made since 2015 Valuation Drivers are in Valuation
Slide 4: Enterprise Value per Ounce Valuation Gap
Enterprise Value per Ounce Valuation Gap ► Bonterra trades at a significant discount to peers (EV of US$36/oz* vs US$102/oz for peer group) ► Established infrastructure with mill expansion (permitting 75% complete) ► World-class jurisdiction ► Potential “hub-and-spoke” development strategy * Exclude
Slide 5: Catalyst Timeline
Catalyst Timeline ► Eight drill rigs turning - ~10,000 m/month to expand deposits and make new discoveries ► Updated MREs now being used for PEA by year-end that plans to incorporate all three main deposits in one economic study ► Existing infrastructure 75% through the permitting process to expand
Slide 6: 2021 MREs Update – 3 Moz & Growing
2021 MREs Update – 3 Moz & Growing ► ~130,000 m of new diamond drilling incorporated in the 2021 MREs ► M&I and Inferred contained gold ounces grew by 78% and 27%, respectively ► Drilling continues at ~10,000 m/month across all three main projects 2019 MREs 2021 MREs % Change Category Tonnage Grade
Slide 7: Capital Structure
Capital Structure Enterprise value per resource ounce of Strong shareholders ~US$36* Capital Structure Wexford 18,3% Kirkland Lake 8,2% Issued & Outstanding Shares 103.32M Mmcap 7,5% Options 6.91M (Weighted Average Exercise Price - C$1.53) Fidelity 5,0% Warrants 5.59M (Exercise price C$3.10, expire
Slide 8: Management & Board of Directors
Management & Board of Directors Pascal Hamelin Johnny Oliveira Marc Ducharme Cesar Gonzalez President & CEO Chief Financial Officer Exploration Manager Executive Chairman & Mr. Hamelin holds a Mining Mr. Oliveira has 20 years of experience Mr. Ducharme has over 30 years of Director Engineering Degre
Slide 9: Land Position in the Abitibi Greenstone Belt
Land Position in the Abitibi Greenstone Belt Fenelon TSX-V BTR | OTCQX BONXF | FSE 9BR2 9
Slide 10: Strategic Land Position
Strategic Land Position ► Young and emerging camp, comparable to Val-d’Or 80 years ago, with activities ramping up New Near Surface Discovery BACHELOR MINE M&I 42,000 oz Au @ 5.37 g/t Au M&I 118,000 oz Au @ 5.66 g/t Au Inferred 6,000 oz Au @ 4.36 g/t Au Inferred 98,000 oz Au @ 5.37 g/t Au M&I 689,00
Slide 11: Market Overview
MARKET OVERVIEW TSX-V BTR | OTCQX BONXF | FSE 9BR2 11
Slide 12: Underground M&A Landscape
Underground M&A Landscape ► Not many high-grade single mine/project companies left in Canada ► Most have been acquired at premium valuations Bonterra Osisko Integra Gold Claude Harte Gold Pure Gold Wesdome Battle North Richmont Barkerville Resources* Mining Corp. Resources (Resource (Resource (Rampi
Slide 13: Gladiator vs Major Discoveries in Quebec
Gladiator vs Major Discoveries in Quebec ► Gladiator has yielded 5.6 oz/m drilled (vs 4.6 oz/m for Windfall) ► Gladiator has yielded ~3,136 oz/hole (vs ~1,700 oz/hole at Windfall) Bonterra Integra Gold Osisko Resources (Acquired) Mining Asset Gladiator Lamaque Windfall Lake Resource as of date Jun 2
Slide 14: High Level Geology
HIGH LEVEL GEOLOGY TSX-V BTR | OTCQX BONXF | FSE 9BR2 14
Slide 15: Regional Structures Are Thought to be Key
Regional Structures Are Thought to be Key ► Urban-Barry cross-regional corridors of structural decompression ► Regional structures are associated with deposits but also point to areas that need to be tested ► Several new targets have been developed and are planned to be tested during the 2021 winter
Slide 16: Gladiator Project
GLADIATOR PROJECT TSX-V BTR | OTCQX BONXF | FSE 9BR2 16
Slide 17: Gladiator Regional Targets – Pearls on a String
Gladiator Regional Targets – Pearls on a String ► Airborne magnetics illustrate the potential of regional targets along strike ► Management plans on testing regional targets to follow up on historic results ► Other nodes of decompression within the corridor to be tested similar to Gladiator ► Planne
Slide 18: Gladiator – Oblique View Looking West
Gladiator – Oblique View Looking West TSX-V BTR | OTCQX BONXF | FSE 9BR2 18
Slide 19: Barry Project
BARRY PROJECT TSX-V BTR | OTCQX BONXF | FSE 9BR2 19
Slide 20: Barry Gold Project
Barry Gold Project ► Exploration potential down plunge and along strike ► Located within the same structural corridor southwest of the Windfall Lake Project TSX-V BTR | OTCQX BONXF | FSE 9BR2 20
Slide 21: Barry Gold Project
Barry Gold Project ► Mag survey revealed several sizable targets that are being tested Barry North 2019 Drill Intercept TSX-V BTR | OTCQX BONXF | FSE 9BR2 21
Slide 22: Moroy Project
MOROY PROJECT TSX-V BTR | OTCQX BONXF | FSE 9BR2 22
Slide 23: Moroy Gold Project
Moroy Gold Project ► Located near the Bachelor Mill, drilling is focused on expanding known shear zones and targeting the intersection of several regional structures Recent Bulk Sample TSX-V BTR | OTCQX BONXF | FSE 9BR2 23
Slide 24: Moroy Gold Project
Moroy Gold Project ► Magnetic survey shows several regional targets that will be followed up on ► Regional target proximity to the mill results in lower risk exploration strategy TSX-V BTR | OTCQX BONXF | FSE 9BR2 24
Slide 25: Bonterra Transformation
Bonterra Transformation ► Several important managerial and board changes were made during 2020 ► Updated MREs released on timeline promised to shareholders incorporating 130,000 m of additional drilling (~10,000 m/month of new drilling ongoing) ► Mill expansion permits 75% complete ► PEA expected by
Slide 26: Presentation Summary
Presentation Summary ► Opportunity to invest in a multi-million ounce, strategic land package in Quebec’s next gold camp • Bonterra has a significant land package within the rapidly growing Urban-Barry Camp Strategic Land Package in Quebec’s Next • The camp now hosts over 9.2 Moz in total gold resou
Slide 27: Thank You!
Thank You! www.btrgold.com 27
Slide 28: Appendix - Mineral Resources
Appendix - Mineral Resources NI 43-101 Mineral Resource Estimate - June 2021 (see notes on last page) Tonnage Grade Contained Metal Category (000 t) (g/t Au) (000 oz Au) Gladiator Underground Measured - - - Indicated 1,413 8.61 391 Measured + Indicated 1,413 8.61 391 Inferred 4,174 7.37 989 Barry Op
Slide 29: Appendix - Summary of Assets
Appendix - Summary of Assets Overview Key Opportunities • 391 koz Au grading 8.61 g/t (Ind.) / 989 koz Au grading 7.37 g/t (Inf.) • Opportunity to add tonnage from recently recognized • Advanced exploration project ‘connector zones’ Gladiator • Road access to Bachelor Mill • Deposit open down-plunge
Slide 30: Appendix - Bachelor Mill
Appendix - Bachelor Mill ► Mill permitting process began in April 2017 and is expected to be complete by the end of 2021 ► Opportunity to expand mill capacity to 2,400 tpd (from the current 800 tpd) Project Scope: • Remove existing 10x12 rod mill & three small ball mills • Add a SAG mill (6.4 m x 4.
Slide 31: Appendix - Notes
Appendix - Notes Model Parameters 1. CIM (2014) definitions were followed for Mineral Resources. 2. Bachelor and Moroy underground Mineral Resources are estimated at gold cut-off grades of 2.40 g/t or 3.0 g/t, domain dependent. Gladiator and Barry underground Mineral Resources are estimated at a gol
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