Bonterra Resources, Inc. · TSXV:BTR
Bonterra Resources — Investor Presentation (August 2025)
29 slides from Bonterra Resources's investor presentation, August 2025
Slide 1: Corporate Presentation Q3 2025
Corporate Presentation Q3 2025 Strategic Assets in Québec’s Next Gold Camp: Exceptional Value, High Potential TSX-V BTR OTCQX BONXF FSE 9BR2 BTRGOLD.COM 1
Slide 2: Forward Looking Statements
Forward Looking Statements In this presentation, forward-looking information pertains to, among other things: the goals for 2025 and Notes on Technical Information beyond, the earn-in and joint venture agreement with Osisko Mining (now Gold Fields) announced on September 25, 2023 and November 28, 20
Slide 3: Corporate Snapshot
Corporate Snapshot Share Structure Top Shareholders Issued & Outstanding Shares 212.4M 2% TOP INSTITUTIONS & HNW 17% Options 12.2M (Weighted average exercise price of C$0.70) R. Vora Warrants 58.7M (Weighted average exercise price of C$0.30) RSUs 0.3M 22% 59% Fully Diluted Shares 283.6M KEY STRATEGI
Slide 4: Prolific Gold Producing Region
Prolific Gold Producing Region Canada is home to several prolific gold districts, yet none can rival the Abitibi Greenstone belt. The Golden Triangle, BC 1 The Red Lake District, ON 1 The Abitibi Greenstone Belt, QC-ON 1 > 5.5M ozs* > 30M ozs* > 200M ozs* Total gold content on > 300M ozs the belt, i
Slide 5: Young and Emerging Camp
Young and Emerging Camp Unlike the Val-d’Or Camp, which has been explored for over a century, the Urban-Barry Camp has only seen sustained exploration efforts since the early 2000s. • Northeast portion of the Abitibi Greenstone Belt remains 1960’s 1950’s underexplored. >50M ozs >10M ozs • The Urban-
Slide 6: Location & Infrastructure
Location & Infrastructure Bachelor Mill Complex Desmaraisville • 250 km from Val-d'Or, the site is Bachelor Mill Complex Property 800 tpd mill 25,700 ha connected to all key infrastructure and benefits from hydroelectric power. • The only operational mill with tailings management area capacity in t
Slide 7: Validation by a Major Gold Miner
Validation by a Major Gold Miner • In August 2024, Gold Fields agreed to pay C$2.16B to acquire Osisko Mining and consolidate the 50-50 JV Windfall (Windfall Mining Group) the two formed in 2023. • To date, C$20 million of the C$30 million earn-in Gladiator Barry commitment under the Phoenix JV has
Slide 8: JV with Gold Fields
JV with Gold Fields Phoenix JV JV Interest (%) Gold Fields has the ability to earn 70% Upfront Payment (Received) C$5M Exploration Expenditures (Ongoing) C$30M (over three years starting November 2023) Operator Gold Fields Meters Drilled Under the JV (as of June 2025) ~65,000 m Access to one of the
Slide 9: Multiple Targets Being Tested
Multiple Targets Being Tested Gold Fields are undertaking a comprehensive regional exploration program on the Phoenix JV. • ~65,000 m drilled to date, exceeding the C$10M annual expenditure requirement. • 36,946 m drilled at Moss target, which is located only 5 km southwest from the Windfall Gold De
Slide 10: High-Grade Discovery at Moss
High-Grade Discovery at Moss Promising targets have already been identified, including Moss, where Lynx-type mineralization has been discovered. Moss Target Lynx Zone 800m thickness 200m thickness 150N F-51 Lynx Mineralization Discovered at Moss Lynx Mineralization at Windfall • Grey quartz-pyrite v
Slide 11: Three Main Zones at Moss
Three Main Zones at Moss Longitudinal view of the Moss target showcasing top results (looking North). CORPORATE PRESENTATION BTRGOLD.COM 11
Slide 12: Drilling at 100% Owned Properties
Drilling at 100% Owned Properties Bonterra has launched a regional exploration program at the 3.89 g/t Au / 1.0m Desmaraisville Property. Desmaraisville South Diamond Drill Legend Property Location • Agnico Eagle joins as a new partner in Gold Showing the Nelligan JV (only 15% of the total VMS Showi
Slide 13: Existing Infrastructure & Mill
Existing Infrastructure & Mill The Bachelor Mill Complex had over C$100M spent and is a key strategic asset for Bonterra and future mining operations in the camp. Bachelor Mill Complex Bachelor Mill Complex • 350,000 ozs of historical gold Barry Open Pit & Camp Gladiator Camp (Mill, Tailings, Assay
Slide 14: Cheap Ounces in a Safe Jurisdiction
Cheap Ounces in a Safe Jurisdiction Bonterra has never been cheaper to its peers. Comparable Peers EV / Resource $111 (US$/oz AuEq) Bonterra EV/oz $59 $8* $37 $38 $33 $33 $34 $29 $26 $16 $18 $15 $10 $11 (US$/oz AuEq) *Not adjusted for net JV interest. Source: Company Filings, July 2025. CORPORATE PR
Slide 15: M&A Landscape
M&A Landscape Lack of high-grade single mine/project companies left in Canada. Most have been acquired at premium valuations. Bonterra Osisko Claude O3 Mining2 Great Bear Pretium Battle North Barkerville Integra Gold Richmont Resources1 Mining3 Resources Announced 2024 Acquired 2024 Acquired 2022 Ac
Slide 16: Strategic Land Package with Multi-Million Ounce Resource
Strategic Land Package with Multi-Million Ounce Resource in One of Canada’s Most Exciting Gold Camps Prolific Jurisdiction Active Exploration Validation by Major Proven Team Funded Exploration Quebec is a mining- ~65,000 m drilled to date Gold Fields, the world’s Proven success in C$30M in explorati
Slide 17: Appendix
Appendix 17
Slide 18: Case Study: Contango's Successful 30% JV with Kinross
Case Study: Contango’s Successful 30% JV with Kinross Contango Ore (Contango) holds a 30% non-operating interest in Name Manh Choh JV Phoenix JV its flagship Manh Choh gold mine in Alaska, operated by 70% owner Kinross Gold (Kinross). Operating Partner • The JV was formed in September 2020 when Kinr
Slide 19: Management & Directors
Management & Directors Senior Leadership Bonterra’s team has extensive experience across exploration, permitting, development, operations, project financing and capital markets. Read bios online. Marc-Andre Pelletier Pier-Elise Hebert Cesar Gonzalez President, CEO & Director Tremblay Executive Chair
Slide 20: Embracing Sustainability for a Better Tomorrow
Embracing Sustainability for a Better Tomorrow Our Approach to ESG Guided by our mission and core values, we are committed to creating lasting Economic Environmental Social socio-economic benefits for all We are committed to investing in We are committed to protecting We are committed to being a sta
Slide 21: Drilling Matters
Drilling Matters Osisko Mining has proven that the more you drill the more you Windfall Barry & Gladiator find in the Urban-Barry Camp. Year Ounces Meters Ounces Meters • Over 503,928 m has been drilled at both Barry and Gladiator 2007 0 0 147,900 26,380 to date. 2010 0 0 781,450 53,606 • Only 385,1
Slide 22: Abitibi Deposits Reveal Deep Expansion Potential
Abitibi Deposits Reveal Deep Expansion Potential Analogs of other gold deposits in the Abitibi Greenstone Belt demonstrate high potential for deep expansion at both Gladiator and Barry. Gladiator Barry Windfall1 Red Lake Mines1 La Ronde Complex1 Macassa Mine1 Hist. Production: None Hist. Productio
Slide 23: Deposit Overview: Bachelor-Moroy
Deposit Overview: Bachelor-Moroy The decision has been made to place Bachelor- Moroy on long-term care and maintenance. Selective drilling is planned at regional targets Historical Bachelor Mine outside the resource area. Moroy Deposit 2020 Bulk Sample Mineralized Zones Resource Summary: M1-Group M2
Slide 24: Deposit Overview: Barry
Deposit Overview: Barry Drilling has identified mineralization at depth, particularly to the southeast. Plan View MB-22-420 12.1 g/t Au over 6.1 m Incl. 73.5 g/t Au over 0.5 m D D MB-23-599 D Y Y K 5.0 g/t Au over 7.2 m Y K E E Incl. 23.0 g/t Au over 0.7 m K And Incl. 16.2 g/t Au over E Au g/t 0.6 m
Slide 25: Deposit Overview: Gladiator
Deposit Overview: Gladiator High potential for deep expansion. Gladiator North-East/Titan to be tested by Gold Fields in 2025. Plan View 4 km Coliseum Target Gladiator Deposit Titan Target BRS-17-11 23.2 g/t Au over 1.0 m CL-17-31 BA-18-116 5.6 g/t Au over 3.0 m 12.4 g/t Au over 5.3 m BA-21-53A 18.6
Slide 26: Gladiator vs Windfall Drilling Comparison
Gladiator vs Windfall Drilling Comparison Drilling at Gladiator is only a Bonterra Resources 1 Osisko Mining 2 fraction of what has been carried out at Windfall. Gladiator Windfall Resource as of Jun 2021 Aug 2022 Number of holes drilled* 486 4,834 Drilling* meters 228,204 1,852,861 M&I Resource M o
Slide 27: Mineral Resource Estimates Summary
Mineral Resource Estimates Summary NI 43-101 MREs – June 2021 Category Tonnage (000 t) Grade (g/t Au) Contained Metal (000 ozs Au) (See notes on next page) Underground Measured - - - Gladiator Indicated 1,413 8.61 391 Measured + Indicated 1,413 8.61 391 Inferred 4,174 7.37 989 Open Pit Measured 1,73
Slide 28: Mineral Resources Notes
Mineral Resources 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 a
Slide 29: Bonterra Resources Inc.
Corporate Presentation Bonterra Resources Inc. info@btrgold.com +1 (819) 825-8678 282872 Sullivan Road, Suite No. 2 Val-d’Or, QC J9P 0B9 Canada TSX-V BTR OTCQX BONXF FSE 9BR2 BTRGOLD.COM 29
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