Next door NeighborBonTerra Acquires Long Lake Claims, Stewart, BC
Thursday September 17, 8:30 am ET
VANCOUVER, BC--(Marketwire - 09/17/09) - BonTerra Resources Inc. (TSX-V:
BTR -
News) (the "Company" or "BTR") is pleased to announce that it has acquired 100% interest in the Long Lake claims. The Claims are 3 km from Decade Resources Ltd. Red Cliff project in northwestern British Columbia.
https://www.bonterraresources.com/BCCLAIMS111609.pdf The road accessible property, approximately 433 ha. in size, is located adjacent to Long Lake, 22 km north of Stewart.
The Long Lake property is underlain by rocks of the middle Jurassic Hazelton Group, the main host for significant precious and base metal deposits in the Stewart Camp including the Silbak Premier, Big Missouri, Silver Coin, Sulphurets, Red Mountain and Eskay Creek deposits. The property contains six known BC Geological Survey Minfile occurrences (see map). The Spider 3 showing was explored with underground workings dating back to the 1920s. The remaining occurrences were discovered in the 1950s and have been explored intermittently since that time, including mapping and sampling, trenching, geophysical surveys and local drilling. The occurrences include mainly veins and replacement style mineralization with silver-gold-zinc-lead values along a northwesterly trend. Decade's Red Cliff occurrence, currently being drilled, occurs in similar rocks, 5 km to the southeast, while the past producing Big Missouri Mine occurs 4 km to the southwest.
BonTerra's acquisition costs are a total of $32,000 and two million shares payable on exchange approval. The property is subject to a 2-per-cent net smelter return royalty, of which one-half (1 per cent) may be purchased back for $1-million.
The company will be paying a finders fee on this transaction and will be subject to a hold period as required by applicable securities laws.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Gerald G. Carlson, P. Eng., a qualified person.
ON BEHALF OF THE BOARDBONTERRA RESOURCES INC./s/ Mitchell AdamMitchell AdamPresident, Director
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of BonTerra such as the statement that: (i) the closing of the transaction may occur; and (ii) the combination creates the opportunity to develop a sustainable and profitable mining operation within a low-risk political jurisdiction. There are numerous risks and uncertainties that could cause actual results and BonTerra's plans and objectives to differ materially from those expressed in the forward-looking information, including (i) the inability to close the transaction for any reason; (ii) the inability to close the financing; (iii) the inability to obtain exchange approval (iv) a continued downturn in general economic conditions; (v) decreased demand for minerals and lower mineral prices; (vi) the inherent uncertainties and speculative nature associated with mineral exploration; (vii) any number of events or causes which may delay or cease exploration and development of BonTerra's property interests; (viii) the risk that BonTerra does not execute its business plan; (ix) inability to finance operations and growth; and (x) other factors beyond BonTerra's control. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, BonTerra assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:Mitchell Adam mitchellgadam@shaw.cawww.bonterraresources.comTel: (604) 669-9330