Bonaventure Enterprises Inc.

July 27, 2005 06:30 ET

Bonaventure Enterprises Inc. Commences Four Property Drill Program

RENO, NEVADA--(CCNMatthews - July 27, 2005) - Bonaventure Enterprises Inc. (TSX VENTURE:BVT)(PINK SHEETS:BVTEF) is pleased to announce that the 2005 drilling season in Nevada is underway. Our exploration team anticipates an intense drill season as early stage exploration begins on two properties, New Pass and Squaw Creek, while the Cottonwood Property and Goldfield West property are in later stages of exploration. Due to the increased demands on the drilling industry in Nevada, drill rig availability has caused our drilling program to be slightly behind schedule. The following timeline is the Company's best estimation of the 2005 schedule for the four properties to be drilled:

- New Pass Property - West of Austin, NV - August 2005

Bonaventure Enterprises Inc. has completed the roadwork, installation of drilling pads and other excavation work in preparation for the Phase 1 drilling program of the New Pass Project. The drilling program is schedule to begin the week of August 1, 2005. The initial drilling program will occur over a strike length of approximately 3,000 feet (900 m) using techniques that follow up potential extension of previous high grade drilling programs. The angle hole program will also test volcanic rocks above the resource that were not assayed previously and explore possible high grade feeder faults below the deposit. The program is expected to last until the end of the year. The property is a joint venture with White Knight Resources Ltd. (TSX VENTURE:WKR) with BVT able to earn up to a 60 percent interest in the property.

- Cottonwood Property - North of Austin, NV - July (Trenching) August (Drilling)

Bonaventure Enterprises Inc. has begun its second phase of exploration at its Cottonwood Property. Phase 1 exploration discovered high grade gold in the upper trench. The second phase of exploration has begun the week of July 25, 2005 and includes the extension of Trench 1 to further test high grade gold in previous sampling, the opening of an old adit near Trench 2, and a drilling program which includes 7 drill sites.

- Goldfield West Property - Goldfield, NV - Late August/September 2005

Bonaventure Enterprises Inc. has started its third phase of exploration at the Goldfield West property. A total of 37 drill sites will be permitted across three zones - Phase 3 exploration (Phase 2 drilling) will further test the Nevada Eagle and South Zone, as well as the Central target, where strong gold values occur in both outcrop and old drilling across an area 2 km in length Bonaventure has conducted exploration of both the Nevada Eagle target and the Southern target. At the Nevada Eagle, the Company will be conducting additional exploration around hole NV-9, which had two zones of highly anomalous god and silver in a breccia zone with quartz and sulfide, and to follow this northwest trending structure over approximately 700 m of strike length. At the Southern target, Bonaventure will drill two fences of holes across the northwest trending zone of a low-grade gold blanket to locate the high-grade feeder. At the Central target, the company will drill two fences of holes across the anomalous gold found in previous drilling which suggest that the thick intercepts of low grade gold are controlled by structures.

- Squaw Creek Property - North Carlin Trend - July (Geophysics) October (Drilling)

According to the 43-101 report, strongly anomalous gold mineralization has been consistently intersected in drill holes over an area 3 miles long by 1 mile wide. Bonaventure Enterprises has begun a $50,000 geophysics survey of the property and will conduct a drilling campaign after the completion of the geophysics. A principal target on the property is a Carlin-type disseminated gold deposit hosted in carbonate rocks within and below the Rodeo Creek Formation which hosts significant gold reserves at some of the mines within the Carlin Trend. Another target at Squaw Creek is a high grade vein deposit like Ken Snyder or the deeper part of Hollister. The property is a joint venture with White Knight Resources Ltd. (TSX VENTURE:WKR) with BVT able to earn up to a 60 percent interest in the property.

In addition to the drilling of the four properties, Bonaventure Enterprises Inc. is also commencing exploration on two other Nevada properties.

- Northern Lights Property - Hawthorne, NV

The Northern Lights claims are situated between the Aurora (0.6 million ounces gold) and Borealis (1.2 million ounces gold) historic mines. In 2004, Bonaventure Enterprises conducted a magnetic survey of the property and is currently conducting an archaeological survey. A Phase 1 trenching and/or drilling program is scheduled for the Fall of 2005.

- Jet Property - Silver Peak, NV

Regionally, the Jet Property is located within the Walker Lane, which hosts important precious metal deposits such as Bullfrog, Goldfield and Tonopah. Bonaventure's exploration for 2005 includes mapping and sampling that will allow identification of the best mineralization and establish the offsets produced by post-mineral faulting. Systematic drilling will then easily follow this visually recognizable mineralization.

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. Bonaventure Enterprises Inc.'s website is Investor information, call (604) 718-2800, FAX (604) 718-2808.


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.
    Basil Pantages
    (604) 718-2800
    (604) 718-2808 (FAX)