Bonaventure Enterprises Inc.
TSX VENTURE : BVT
PINK SHEETS : BVTEF

January 30, 2007 09:31 ET

Bonaventure Enterprises Inc.: Drilling Finds Gold Associated with Major Fault Squaw Creek Project, Nevada

RENO, NEVADA--(CCNMatthews - Jan. 30, 2007) - Bonaventure Enterprises Inc. (TSX VENTURE:BVT)(PINK SHEETS:BVTEF) is pleased to announce that its first phase of drilling has been completed at the Squaw Creek property located in Nevada.

A total of three deep angle Reverse Circulation (RC) and Core holes were completed totaling 4,802 feet. The drilling successfully found the bounding fault of a large horst block defined by geophysics, and also drilled a thick section of brittle rocks, favorable hosts for Hollister style high-grade veins.

Drill hole SC0602, drilled due east at a 45 degree angle to a total depth of 1,380 feet, intersected 540 feet of gravel on the down-dropped side of a major fault before entering Tertiary age tuffaceous rocks and then a fault at 780 feet. The bounding fault, inferred to dip westerly, is filled with an andesite dike (20 feet thick) and a few very thin (up to 2 inches) low-temperature quartz veinlets. The footwall of the fault is Ordovician quartzite and lesser chert, argillite and shale. Seven other structures occur deeper in the hole and are thought to be related to the same faulting event. All of the structures contain anomalous gold as shown in the table below. The highest 5 foot assay of 1.50 g/t gold occurs in the deepest structure (1315-1320 feet) and indicates gold values may be improving with depth.

Drill hole SC0601, drilled 1,500 feet east of SC0602 in a due west direction at a 45 degree angle, had a total depth of 2,102 feet. After penetrating 60 feet of gravel, the hole intersected Tertiary age tuff and then Ordovician age rocks at 460 feet. Although it penetrated a thick section of brittle rocks which are good hosts for veining, the hole contains only minor structure. Several weakly anomalous gold values are associated with this weak fracturing and the highest gold number in the hole is again the deepest intercept, from 1,640 to 1,645 feet, assaying 0.22 g/t gold. Drilled far to the east of the horst structure drilled in SC0602, this hole was drilled semi-parallel to the dip of the main fault zone.

Located 3,300 feet south and 70 feet east of SC0602, drill hole SC0603, drilled due west at a 45 degree angle to a total depth of 1,320 feet, intersected 20 feet of gravel before entering Tertiary age tuffaceous rocks. Between 790 and 960 feet Ordovician meta-basalt, thought to be an un-rooted landslide block within the tuffs, was intersected. Tuffaceous rocks occur from 960 feet to total depth. A single fault zone from 985 to 1000 feet contains anomalous gold with the highest value being 995 to 1000 feet which assayed 2.19 g/t gold. Projecting the horst bounding fault intersected in 0602, this hole was drilled west of the structure and into the hanging wall of the fault.

Assay results for all three drill holes are presented below with only intercepts of 10 or more feet and + 0.10 g/t included.



SQUAW CREEK SUMMARY DRILLING RESULTS PHASE 1 PROGRAM

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Total Gold
Azimuth Dip Depth From To Interval Values
HOLE # Degrees Degrees Feet Feet Feet Feet G/T
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SC0601 270 -45 2102 590.0 600.0 10.0 0.13
965.0 975.0 10.0 0.14
1055.0 1075.0 20.0 0.15
1100.0 1110.0 10.0 0.12
1180.0 1190.0 10.0 0.17
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SC0602 90 -45 1380 780.0 805.0 25.0 0.43
835.0 865.0 30.0 0.33
875.0 900.0 25.0 0.17
930.0 945.0 15.0 0.13
1090.0 1100.0 10.0 0.16
1110.0 1165.0 55.0 0.44
1210.0 1220.0 10.0 0.16
1285.0 1295.0 10.0 0.32
1315.0 1325.0 10.0 0.80
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SC0603 270 -45 1320 985.0 1000.0 15.0 1.13
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Phase 2 drilling at Squaw Creek, planned for the summer of 2007, will continue to test the major north-south trending, west dipping fault system. A test deeper below SC0602 as well as additional holes to the north and south along trend are planned. All holes will be drilled from west to east in order to drill perpendicular to structure.

Bonaventure has in place a rigorous QA/QC program consistent with National Instrument 43-101 and using best industry practice. ALS Chemex Labs of Reno, Nevada is responsible for all the Bonaventure's assaying.

Qualified Person These results have been prepared under the guidance of geologist Richard Kern, Vice-President Exploration of BVT, who is designated as the Qualified Person with the ability and authority to verify the authenticity and validity of this data.

About Bonaventure Enterprises Inc.

Bonaventure Enterprises Inc. is a Canadian based resource and exploration company traded publicly under the symbol BVT on the TSX Venture Exchange and BVTEF on the OTC Bulletin Board. The Company holds 100% of the mining properties including Goldfield, Cottonwood, Jet and Northern Lights. The Company also has an option agreement with White Knight Resources (TSX VENTURE:WKR) to acquire up to 60% interest in the New Pass (Eureka, NV) and Squaw Creek (North end of the Carlin Trend) Properties. The Company's mission is the discovery and development of economic, multi-million ounce gold deposits through the exploration of high quality projects, located primarily in Nevada. Bonaventure Enterprises Inc. is an exploration company with a substantial portfolio of exploration projects prospective for gold and silver.

ON BEHALF OF THE BOARD OF DIRECTORS

Basil Pantages, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

Contact Information

  • Bonaventure Enterprises Inc.
    Investor information
    (604) 718-2800
    (604) 718-2808 (FAX)
    Website: www.bonaventure.us