Bonaventure Enterprises Inc.
TSX VENTURE : BVT
FRANKFURT : YQG

September 26, 2007 13:56 ET

Bonaventure Names Jean Lafleur President & CEO, Acquires 944.1 km2 of Uranium Assets in Quebec, and Announces Brokered and Non Brokered Financings for Aggressive Development Programs

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

BONAVENTURE ENTERPRISES INC. (TSX VENTURE:BVT)(FRANKFURT:YQG) announces that it has appointed Jean Lafleur as President and CEO, acquired important, uranium land packages in Quebec, and arranged a brokered financing of up to C$21 million with Salman Partners Inc., in order to begin immediate aggressive exploration programs in Quebec, and on its previously acquired Saskatchewan Property.

NEW MANAGEMENT

Mr. Jean Lafleur, M.Sc., P. Geo., has been named President & CEO of the Company, effective immediately. Mr. Basil Pantages, the former President & CEO, has been named Chairman of the Board.

Mr. Lafleur, a Bonaventure Board member since May, 2007, is a Professional Geologist with 25+ years of experience in various capacities within the mineral exploration field, in Canada and internationally, with a wide range of industry-leading companies, such as Newmont (TSX:NMC), Falconbridge and Placer Dome. For the past four years, as a mineral exploration consultant, he led teams in the search for gold, base metals, nickel, PGE's and uranium. He is a Qualified Person on several uranium plays, including the North Shore Property for Uracan Resources (TSX VENTURE:URC), and the Uskawanis Property for Uranium Bay Resources (TSX VENTURE:UBR). He is currently on the Board of several junior resource companies, but has made a full time commitment to Bonaventure given his excitement over the exploration packages that the company has assembled.

Mr. Pantages stated: "...Jean Lafleur's commitment and belief in Bonaventure and its suite of assets will, we believe, lead to the creation of substantial shareholder value as he executes on his strategy. I am pleased to hand over the day to day responsibilities to Jean and delighted with his confidence in the Company's projects...."

PROPERTIES

Bonaventure further announces that it has entered into agreements to acquire, subject to acceptance by the TSX Venture Exchange, and also subject to closing of the Financing noted below, a total of 1,788 claims for 944.1 km2 in Quebec's James Bay and North Shore regions. Historical work in both regions has shown an excellent potential for hosting large uranium systems. The properties are outlined as follows:



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PROPERTY NAME CLAIMS HECTARES KM2
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K9 325 16,150 161.5
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NORTH SHORE SYNDICATE 923 49,860 498.6
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WAKEHAM BASIN 181 9,918 99.2
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MONTE CRISTO 36 1,804 18
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LONGUE RIVE (BAY OF PIGS) 8 438.4 4.4
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MANIC III 213 10,650 106.6
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MOOSE PASTURE 16 876.8 8.8
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PIMENQUEK 86 4,712.8 47.1
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TOTAL 1,788 94,410 944.1
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K9 Property

Bonaventure entered into an agreement with a Quebec-based vendor to acquire the 325 claim K9 Uranium Property ("K9") totaling 161.5 km2, in the James Bay District of northern Quebec. The property shows higher uranium concentrations in lake-bottom sediments with a peak of over 1,500 ppm uranium based on the re-assaying (Beaumier, 2006) of historic samples collected in the mid-1970's (SDBJ, 1973 to 1978). The lake-bottom sediments anomalies are multi-kilometric in size and have either sub-circular, elliptical or horseshoe shapes.

Jean Lafleur commented, "K9 enters Bonaventure as a flagship property with Longue Rive (Bay of Pigs) alongside Four Lakes. The vendor has already completed airborne high-resolution radiometric geophysics, field mapping and sampling during the summer of 2007. Initial results show a kilometric mineralized system. A zone of 4km by 1km with a 75m topological relief has been identified as our main exploration target. Further results will be disclosed in the near future as they are still being reviewed by our exploration team."

Terms of the K9 Acquisition

The Company may acquire a 100% interest in the K9 Uranium Property under the following terms:

(1) Paying the vendor C$1 million, C$500,000 on the closing date of the agreement and C$500,000 on the Company financing;

(2) Issuing 4 million shares;

(3) Paying the vendor's exploration expenditures incurred to date (approximately C$500,000);

(4) Incurring exploration work of C$5 million on or before December 31, 2008;

(5) Issuing additional shares and paying additional cash as certain milestones are achieved based on NI 43-101 compliant pounds of uranium as described below:



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NI 43-101 COMPLIANT U308
RESOURCE (lbs) CASH PAYMENT SHARES ISSUANCE
--------------------------------------------------------
100,000,000 lbs C$1,000,000 1,000,000
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200,000,000 lbs C$1,000,000 1,000,000
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300,000,000 lbs C$1,000,000 1,000,000
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500,000,000 lbs C$1,000,000 1,000,000
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800,000,000 lbs C$1,000,000 1,000,000
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TOTAL C$5,000,000 5,000,000
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(6) Paying C$5 million in cash upon receipt of a bankable feasibility. The property will be the subject of a sliding scale Net Smelter Returns royalty of either 2% or 3% based on the uranium price, and 2% on all other metals.

North Shore Syndicate Constellation of Properties

Bonaventure entered into an agreement with a group of vendors referred to as the North Shore Syndicate to acquire a series of 24 non-contiguous properties over 923 claims equivalent, representing 49,863.53 hectares or 498.6 km2, in the Upper and Lower North Shore districts of north eastern Quebec between the St-Lawrence River communities of Tadoussac and Chevry, also encompassing Baie-Comeau, Forestville, Sept-Iles, Havre-St-Pierre, Natashquan and St-Augustin.

The claims host uranium mineralization in gneisses and granites/pegmatites. The properties already show higher uranium concentrations in lake-bottom sediments based on the re-assaying (Beaumier, 2006) of historic samples collected in the mid-1970's (MRNFQ, 1973 to 1978). The lake-bottom sediments anomalies are kilometric in size.

Terms of Acquisition for the North Shore Syndicate Constellation of Properties

The Company may acquire a 100% interest in all of the North Shore constellation of 24 properties under the following terms:

(1) Paying C$650,000;

(2) Issuing 4,800,000 shares;

(3) Issuing 2,000,000 additional shares upon receipt of a report prepared in accordance with National Instrument 43-101 which concludes that the Claims contain a potential of not less than 40,000,000 pounds of Uranium.

Wakeham Basin

The Company entered into an agreement to acquire from a group of vendors lead by Minorex Inc. two properties included in 181 claims in the Wakeham Basin in the Lower North Shore area of Quebec. A 100% interest in the properties called "Boucher" and "22" may be acquired by Bonaventure under the following terms:

(1) Payment of C$300,000;

(2) Issuance of 500,000 shares;

(3) The issuance of additional shares at the 6 month anniversary if the global transaction represents less than C$500,000 at that time based on the share price of Bonaventure;

Monte Cristo

Bonaventure also agreed to purchase a 100% interest in 36 uranium claims covering 18.4 km2 from arm's length parties (St-Georges Family Trust and Mr. Mario Bourque) located in the Upper North Shore sector, Quebec, under the following terms:

(1) C$300,000 at the closing of the current financing;

(2) Issuing a total of 1,250,000 common shares at the signing;

(3) Issuing 1,250,000 additional shares upon receipt of a report prepared in accordance with National Instrument 43-101 which concludes that the Claims contain a potential not less than 20,000,000 pounds of Uranium.

The property will also be subject to a Net Smelter Return royalty of 1% on uranium and on all other mineral deposits on the property.

Longue Rive (Bay of Pigs) Property

Bonaventure agreed to purchase from the Corporation de promotion du developpement mineral de la Cote-Nord a 100% interest in a uranium property comprising of a total of 8 claims. Under this agreement, the property can be acquired by Bonaventure paying C$250,000. The property will also be the subject to a Net Smelter Return royalty of 1% on uranium and also on other mineral deposits other than uranium.

Jean Lafleur comments, "Bay of Pigs is of real interest to Bonaventure as we can access the property all year long (like the North Shore properties), it is easily accessible, being a few kilometers from the national highway and infrastructures, and is well documented. An important campaign of geophysical work was done by SOQUEM in the late 1970's, and the historical report done at that time notes the existence of kilometric mineralization that average over 300 counts per second (or cps). An additional seven occurrences of 2,500 cps and over are also reported in that same document. We believe that the work to be done to confirm the existence of larger scale mineralization under 43-101 compliant methodology can be initiated in our planned first wave of exploration work this year."

Manic III Properties Option with Fancamp Resources

Bonaventure entered into an option agreement with Fancamp Resources Inc. (TSX VENTURE:FNC) and Sheridan Platinum Group to acquire a 50% interest in 11 uranium properties for 213 claim cells totalling 10,650 hectares or 106.50 km2 under the following terms:

(1) Issuing 100,000 shares upon signing;

(2) Issuing 100,000 shares by the First Anniversary;

(3) Issuing 100,000 shares by the Second Anniversary;

(4) Issuing 100,000 shares by the Third Anniversary;

(5) Paying C$50,000 at signing;

(6) Paying C$50,000 by the First Anniversary;

(7) Paying C$50,000 by the Second Anniversary;

(8) Paying C$100,000 by the Third Anniversary;

(9) Completing a total of C$500,000 of Expenditures by the First Anniversary;

(10) Completing a total of C$750,000 of Expenditures by the Second Anniversary;

(11) Completing a total of C$1,250,000 of Expenditures by the Third Anniversary;

Moose Pasture Properties

Bonaventure entered into an agreement to acquire from Gemme Manicouagan Inc., a 100% interest in two uranium properties ("The Moose Pasture Properties") comprising 16 claims located 10 km NE of the community of Forestville, Quebec, along the Upper North-Shore, under the following terms:

(1) Paying C$ 350,000 at the closing of the current financing;

(2) Issuing 1,350,000 common shares of Bonaventure at signing;

(3) Issuing 1,350,000 additional shares upon receipt of a report prepared in accordance with National Instrument 43-101 which concludes that the Claims contain a potential not less than 30,000,000 pounds of Uranium.

The properties will also be the subject of a Net Smelter Return royalty of 2% on uranium and on all other mineral deposits on the properties.

Pimenquek group of Properties

Bonaventure entered into an agreement to acquire from Exploration Miniere Manicouagan inc. a 100% interest in two properties named "Lac St-Pierre" and "Godbout River" (collectively referred by Bonaventure as the "Timenquek" group of properties), located in the Manicouagan general area of the North Shore of Quebec and representing a total of 86 claims. The terms are described below:

(1) C$10,000 at the closing of the current financing;

(2) Issuing a total of 300,000 common shares at the signing;

The properties will also be the subject of a Net Smelter Return royalty of 1% on uranium and on all other minerals on the properties.

The aforementioned agreements are subject to financing, the completion of due diligence, TSX-V and Board approval. The Company will pay finders' fees to arm's-length third parties in connection with each of the properties in accordance with TSX-V policies.

FINANCING

Bonaventure is also pleased to announce that it has entered into an engagement letter with Salman Partners Inc. (the "Agent"), pursuant to which the Agent has agreed to arrange for the sale by way of private placement of up to 21,428,571 Flow-Through Units of the Company at C$.70 for gross proceeds of up to C$15,000,000, and up to 12,000,000 non flow-through Units at C$.50 for gross proceeds of up to C$6,000,000, for a total brokered private placement of up to C$21,000,000 (the "Brokered Unit Financing").

Each Flow-Through Unit will consist of one Flow-through Share along with a full purchase warrant at C$1.15 for the first year and C$2.00 for the second year. The non flow-through Unit financing will consist of one common share plus one-half purchase warrant, each whole warrant being exercisable at C$.75 for 18 months.

The Brokered Unit Financing, at the election of the Agent, may be increased by up to an aggregate of C$4M in the event that oversubscriptions are received for greater than C$21M.

The Agent will be paid an aggregate fee of 8% of the gross proceeds from the Brokered Unit Financing, and at closing the Agent will receive broker warrants equal in number to 10% of the aggregate number of Flow-Through Units and non flow-through Units sold pursuant to the Brokered Unit Financing (including Units and/or Flow-Through Units sold pursuant to the Agent's exercise of the oversubscription option, if any). Each Broker's Warrant will entitle the Agent to acquire one common share for 18 months from closing at C$1.15 in the first year and at C$2.00 for the second year for each Broker's Warrant issued in consideration for sales of Flow-Through Units, and C$.75 for each Broker's Warrant issued in consideration for sales of non flow-through units.

In addition, the Company is pleased to announce a non-brokered private placement of up to 6,000,000 Units at a price of C$.50 for total gross proceeds of up to C$3,000,000. Each Unit of the non-brokered private placement shall be issued on the same terms and conditions as the Brokered Unit financing.

Proceeds from the sale of the Flow-Through Units will be used to fund exploration and development activities at the Company's properties, and proceeds from the sale of the non flowthrough Units will be used to acquire the properties in Quebec, for exploration and development, and for working capital purposes.

The Brokered and non brokered financings are subject to acceptance by TSX-V.

CORPORATE STRATEGY

Bonaventure plans to use Rossing-type and Athabasca-type exploration models. Rossing is a disseminated lower grade uranium deposit situated in gneisses and alaskite granites/pegmatites, containing at least 300 million tonnes within a 1 km by 2.5 km ore body grading 0.03% U3O8 (Rossing website at http://www.rossing.com). The Athabasca Basin mineralization is hosted in highly altered sandstones overlying gneisses and granites, produced more than 1.4 billion lbs of uranium and hosts the world's largest high-grade uranium mine, McArthur River, with reserves of 800,000 tonnes at an average grade of 25%, or 437 million pounds, U3O8.

Mr. Jean Lafleur, P. Geo., President & CEO, stated: "Bonaventure's objective over the next 24 months is focused on building a first-tier energy company by aggressively pursuing targets in the Athabasca Basin, James Bay and the North Shore area. It is anticipated that on closing of the brokered and non-brokered financings, Bonaventure's treasury of more than C$20 million will allow the Company to target our sizeable property holdings situated in World-Class geological environments, with what should be one of the largest drill programs amongst Canadian uranium explorers."

"Importantly, we believe that the geological nature of our targets will allow the Company to condense the timeframe of proving up a potential NI 43-101 compliant resource. Bonaventure intends to begin an accelerated exploration and definition program immediately with a goal of delineating NI 43-101 compliant resources on Longue-Rive (Bay of Pigs) (Rossing-type), and on the other flagship properties K9 (Rossing-type) and Four Lakes (High Grade Athabasca-type), should results merit."

More detailed property descriptions, results of historical and on-going work in Quebec, and detailed work programs for Saskatchewan and Quebec will be released in coming weeks. The company is also working to update its website and corporate electronic presentation in a timely manner. Both will be available to investors shortly.

Mr. Jean Lafleur, P. Geo., President & CEO of Bonaventure, and a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information contained in this release.

ON BEHALF OF THE BOARD OF DIRECTORS

Basil Pantages, Chairman of the Board

ABOUT BONAVENTURE ENTERPRISES

Bonaventure Enterprises Inc. is a Canadian based resource and exploration company traded publicly under the symbol BVT on the TSX Venture Exchange and YQG on the Frankfurt Stock Exchange and Xetra. Presently with Uranium and polymetallic and diamond assets in the Athabasca Basin and in the James bay and North Shore regions of Quebec and with Gold properties in Nevada with some under a Joint-Venture with U.S. Gold (TSX:USG), Bonaventure is focused on the creation of shareholder value through the acquisition and development of large projects demonstrating the ability to host World-Class precious metals and energy based mineral deposits.

Please visit the Bonaventure Enterprises Inc.'s website at www.bonaventure.us.

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

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