Bonavista Resources intersects 0.68 g/t Au over 52 m, including 10.19 m at 1.63 g/t Au and 4.64 m of 1.5 g/t Au in a proof of concept diamond drill program at the Hickey’s Pond Showing, Burin Gold Project, Newfoundland

ONTARIO, ON – Bonavista Resources Corp. (“Bonavista Resources” or the “Company”) is pleased to announce core drilling results from high-sulphidation gold Burin Gold Project in the Burin Peninsula, Newfoundland.

One proof of concept core hole (HP-20-001) confirms the presence of potentially economic high-sulphidation epithermal mineralisation at depth below Hickey’s Pond, similar in grade to much of the outlying parts of the Hope Brook deposit.

An overall mineralised interval of 52.0 m of 0.68 g/t Au was intersected from 16.0 m to 68.0 m. This interval included 8.64 m of 1.77 g/t Au from 17.36 m, inc. 4.0 and 4.1 g/t Au, and 4.64 m of 1.50 g/t Au from 49.36 m. The highest gold concentrations were associated with a zone of quartz-hematite breccia (20.12 – 27.00 m), although grades > 1 g/t Au were also noted in the quartz-hematite-alunite schist, as well in the massive quartz and the quartz-alunite-pyrite units.

In follow up of our successful initial drilling campaign, further drilling is planned for late 2020 to comprehensively test the mineralized system at Hickey’s Pond.

A summary table of results for selected elements is given in Table 1.

Table 1: HP-20-01 assay results, selected elements

Sample	From	To	Interval	Au  ppm	Ag  ppm	As  ppm	Bi  ppm	S  %	Sb  ppm	Se  ppm	Te  ppm
B0172553	7.80	9.00	1.20	0.025	0.02	4.3	1.07	0.72	1.91	1	0.32
B0172554	9.00	10.00	1.00	0.025	0.04	5.9	0.99	1.04	1.76	2	2.28
B0172555	10.00	11.00	1.00	0.025	0.11	8.5	1.55	0.80	2.75	4	5.02
B0172556	11.00	12.00	1.00	0.050	0.09	6.0	1.34	0.87	2.29	3	1.96
B0172557	12.00	13.00	1.00	0.130	0.14	7.1	2.10	1.62	2.86	8	3.50
B0172558	13.00	14.00	1.00	0.025	0.05	5.7	1.55	1.33	2.56	5	1.97
B0172559	14.00	15.00	1.00	0.025	0.12	7.7	2.34	1.42	2.85	11	6.02
B0172560	15.00	16.00	1.00	0.025	0.22	10.5	2.72	1.90	3.10	14	7.05
B0172561	16.00	17.36	1.36	0.220	0.62	23.7	15.40	2.22	5.63	21	16.10
B0172562	17.36	18.00	0.64	1.640	0.78	13.4	75.90	2.24	11.20	33	40.60
B0172563	18.00	18.90	0.90	1.200	0.43	28.3	91.60	3.06	11.65	26	53.60
B0172564	18.90	20.00	1.10	0.350	0.23	7.2	66.50	3.59	6.80	21	31.40
B0172565	20.00	21.00	1.00	1.190	1.80	37.0	67.90	4.14	14.85	72	45.00
B0172566	21.00	22.00	1.00	0.940	0.37	9.1	32.30	3.81	7.56	15	21.80
B0172567	22.00	23.00	1.00	1.270	0.74	33.5	397.00	2.58	18.15	51	137.00
B0172569	23.00	24.00	1.00	4.140	0.47	21.0	1535.00	2.62	27.50	34	438.00
B0172570	24.00	25.00	1.00	1.200	0.98	8.6	91.80	3.04	13.55	12	35.90
B0172571	25.00	26.00	1.00	4.020	1.21	28.6	76.80	1.80	29.90	32	43.70
B0172572	26.00	27.55	1.55	0.860	2.76	14.8	35.30	3.14	13.65	27	15.40
B0172573	27.55	28.50	0.95	0.470	0.85	5.7	12.60	4.78	10.20	5	6.71
B0172574	28.50	30.00	1.50	0.210	0.86	6.7	8.94	4.35	11.95	6	8.71
B0172575	30.00	31.00	1.00	0.410	1.23	6.7	9.08	4.54	9.08	24	8.05
B0172576	31.00	32.00	1.00	0.340	1.49	7.4	9.91	5.17	11.05	34	8.14
B0172577	32.00	33.00	1.00	0.430	1.16	27.4	9.15	8.45	14.50	59	31.10
B0172578	33.00	33.72	0.72	0.390	0.88	14.0	6.51	5.98	10.15	30	19.20
B0172580	33.72	35.00	1.28	0.350	4.16	36.0	23.90	6.14	8.77	89	12.65
B0172581	35.00	36.00	1.00	0.220	0.54	25.5	3.15	5.66	6.65	27	8.76
B0172582	36.00	36.70	0.70	0.140	0.56	15.1	3.65	3.59	5.42	38	3.27
B0172583	36.70	37.68	0.98	0.150	0.69	10.8	4.14	4.46	5.85	23	4.04
B0172584	37.68	39.00	1.32	0.270	1.54	14.7	5.85	4.58	5.48	45	7.05
B0172585	39.00	40.50	1.50	0.280	0.99	13.7	4.37	4.91	5.67	25	8.20
B0172586	40.50	41.73	1.23	0.370	0.43	21.8	3.70	8.11	5.63	47	14.10
B0172587	41.73	43.00	1.27	0.340	0.56	7.1	3.78	2.18	4.39	20	6.15
B0172588	43.00	44.00	1.00	0.210	0.78	8.7	8.31	5.75	3.76	31	8.44
B0172590	44.00	45.00	1.00	0.190	0.59	7.8	11.80	3.24	3.52	38	8.53
B0172591	45.00	46.00	1.00	0.220	0.90	10.8	6.01	5.67	5.15	58	8.87
B0172593	46.00	47.00	1.00	0.600	1.56	16.9	4.94	3.39	6.18	82	11.10
B0172594	47.00	48.00	1.00	0.240	0.66	17.1	6.28	10.00	5.52	29	10.15
B0172595	48.00	49.36	1.36	0.520	0.51	16.6	15.60	9.29	5.24	21	11.85
B0172596	49.36	50.00	0.64	1.190	1.07	3.8	17.85	5.16	4.48	4	9.15
B0172597	50.00	51.00	1.00	0.940	1.53	4.1	20.60	5.07	5.24	3	6.12
B0172598	51.00	52.00	1.00	1.330	3.76	6.5	29.70	5.82	10.65	5	12.85
B0172599	52.00	53.00	1.00	2.250	6.71	5.4	149.50	4.63	17.85	12	42.40
B0172600	53.00	54.00	1.00	1.690	1.07	8.3	185.50	8.34	6.93	46	25.10
B0172601	54.00	55.00	1.00	0.750	0.56	13.0	20.50	8.58	7.81	35	14.45
B0172602	55.00	56.00	1.00	0.820	0.47	15.2	15.50	10.00	5.87	33	17.60
B0172604	56.00	57.00	1.00	0.460	0.24	9.6	11.65	10.00	3.67	13	7.52
B0172605	57.00	58.00	1.00	0.450	1.88	5.0	80.50	7.65	6.07	23	20.00
B0172606	58.00	59.37	1.37	0.310	0.53	3.6	26.50	5.76	3.28	34	9.25
B0172607	59.37	60.00	0.63	0.180	0.54	3.0	7.40	3.33	4.20	1	3.43
B0172608	60.00	61.00	1.00	0.150	0.29	3.0	5.46	1.68	3.70	10	3.02
B0172609	61.00	62.00	1.00	0.140	0.45	7.1	52.20	5.17	6.47	24	21.00
B0172610	62.00	63.00	1.00	0.170	0.65	2.7	16.65	4.65	5.01	10	5.09
B0172611	63.00	64.00	1.00	0.410	0.49	7.7	74.60	4.75	12.05	8	37.90
B0172612	64.00	65.00	1.00	0.220	0.48	12.5	18.30	3.70	14.15	6	38.60
B0172613	65.00	66.00	1.00	0.210	1.19	8.3	9.45	1.85	12.15	5	19.25
B0172614	66.00	67.32	1.32	0.180	0.63	8.2	3.22	3.91	11.75	7	14.55
B0172615	67.32	68.00	0.68	0.240	0.29	11.5	1.34	1.08	8.48	102	17.25
B0172617	68.00	69.00	1.00	0.120	0.29	5.8	3.59	2.84	3.04	54	6.12
B0172618	69.00	70.00	1.00	0.025	0.14	4.8	1.66	3.57	2.69	29	5.35
B0172619	70.00	71.00	1.00	0.150	0.33	6.2	3.97	4.97	5.47	31	8.85
B0172620	71.00	72.00	1.00	0.200	0.59	7.0	5.66	2.59	6.56	34	16.40
B0172621	72.00	73.00	1.00	0.025	0.25	6.5	1.76	0.98	5.43	8	3.23
B0172622	73.00	74.00	1.00	0.025	0.56	7.7	0.68	2.47	4.87	5	6.56
B0172623	74.00	75.00	1.00	0.370	0.48	5.7	5.98	2.69	6.83	22	24.90

David Clark, MSc., P.Geo., President, Bonavista Resources, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in the release is accurate. Samples were delivered to Air Canada Cargo in St John’s by Bonavista personnel and air freighted to Vancouver. Samples were picked up by Bonavista personnel and delivered to ALS Geochemistry in North Vancouver. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. All samples were crushed to 90% passing a 2 mm mesh. From here, two separate sampling processes were followed, one for gold assay and one for multi-element geochemistry. For the former, a metallic screen assay was completed: 1000 g was pulverised to 85% passing 75 μm, and the entire aliquot was dry screened, with the minus fraction assayed with duplicate 50 g fire assays, and the entire plus fraction fire assayed. For the latter, 250 g of crush material was pulverised to 85% passing 75 μm, and a 0.5 g aliquot was dissolved in a four-acid digestion and analysed for multi-element geochemistry by ICP-MS.

About Bonavista Resources

Bonavista Resources is company focused on exploring a large landholding in the underexplored Avalonian terrane on the Burin Peninsula, Newfoundland. This underexplored belt displays geological similarities to the past producing Hope Brook deposit (11.2 Mt at 4.54 g/t Au), limited historical exploration by previous explorers creates a compelling opportunity for the discovery of Newfoundland’s next multi million-ounce gold system. Our flagship project, the Burin Gold Project, hosts several historical high-sulphidation gold showings over ~10 km of prospective geology, the most notable of which is the Hickey’s Pond showing.

For more information, visit www.bonavistaresources.com or contact:

David Clark, MSc., P.Geo, President

dclark@bonavistaresources.com

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