Loading ...VANCOUVER, July 9, 2018 /PRNewswire/ – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce that further to its news release of May 23, 2018, it has now completed and entered into an Option Agreement with Beaufield Resources Inc. (TSX-V: BFD) (“Beaufield”), whereby Beaufield has granted the Company an option to acquire a 70% interest (the “Option”) in 81 strategic mineral claims totaling 3,590 hectares, located in the Urban Barry Greenstone belt, Quebec, and known as the Duke property (the “Property”).
Under the terms of the Option Agreement, Bonterra can earn a 70% interest in the Property by issuing 4,000,000 common shares to Beaufield upon acceptance of the transaction by the TSX Venture Exchange, paying Beaufield a total of $750,000 in equal amounts over a three-year period, and incurring a total of $4,500,000 in exploration expenditures on the Property over three years.