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Bonterra to extend Quebec deposit with gold-prospective property acquisition

Bonterra Resources Inc. secured an option to acquire the Trove Windfall Lake property in Quebec's Urban-Barry gold camp district from Durango Resources Inc.

The Trove property is a direct extension of the southwest mineralized trend Bonterra is exploring at the Gladiator gold deposit and Coliseum gold property, according to a March 30 release.

The company will pay C$500,000 in several installments, issue 3 million common shares and spend at least C$1 million on exploration to purchase the project.

Durango will retain a 2% net smelter returns royalty on the property, half of which Bonterra can buy back for C$1 million.