Bonaventure Enterprises Inc. Commences Phase 1 Drilling at Squaw Creek Property, Phase 2 Drilling at New Pass Property and Extends Claim Block at Cottonwood Property

Bonaventure Enterprises Inc. Commences Phase 1 Drilling at Squaw Creek Property, Phase 2 Drilling at New Pass Property and Extends Claim Block at Cottonwood Property

Bonaventure Enterprises Inc. is pleased to announce that drilling will begin at the Squaw Creek Property and at the New Pass Property within the next two weeks Due to the increased demands on the drilling industry in Nevada, drill rig availability has caused our drilling program to be slightly behind schedule.

– Squaw Creek Property – North Carlin Trend –

Drilling is scheduled to begin the first week of October 2006 at the Squaw Creek Property on the North Carlin Trend. Three 1,500 feet (457 m) deep angle holes will be drilled across two interpreted major fault zones indicated in the CSMT geophysical survey completed in 2005. The geophysical survey found three target zones that were interpreted as deep Hollister target types.

According to the 43-101 report, anomalous gold mineralization has been intersected in previous drilling over in an area 3 miles (4.8 km) long by 1 mile (1.6 km) wide. The primary target at Squaw Creek is a high grade vein deposit like Ken Snyder to the northwest or the deeper part of Hollister, located to the southeast.

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.

– New Pass Property – West of Austin, NV –

BVT will begin its Phase 2 drilling program within the next two weeks at the New Pass Property west of Austin, Nevada. The Company’s Phase 2 program includes 9,000-10,000 feet of new drilling in 20-25 holes to expand the current resource. Drilling of the untested portion of the current drill grid as well as up-dip and down-dip offsets from the current Inferred Resource will be completed. The Phase 2 drilling program will occur over a strike length of approximately 3,200 feet (975 m). 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 drilling program is expected to last until the end of the year.

According to a recently completed 43-101 report on the New Pass Exploration Project, the property contains an Inferred Mineral Resource of 11,500,000 short tons averaging 0.0226 oz/ton gold and 0.2214 oz/ton silver. This is equivalent to approximately 300,000 ounces of in-place gold inferred resources. The shallow and largely oxidized nature of the resource indicates it may be amenable too open pit heap-leach mining methods. Metallurgical studies are planned to further explore this possibility.

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 –

BVT has extended its claim block at its Cottonwood project located just north of Austin, Nevada. Based upon geophysical data consisting of gravity and aerial magnetic surveys the claim block has been extended to further cover the interpreted anomaly. Frank Fritz of Fritz Geophysics did the data interpretation.

The Cotton target has several characteristics of the Getchell gold system. Getchell is located approximately 100 miles (160 km) north of Cottonwood. Early mining at Getchell was of gold in arsenic-rich quartz veins in intrusive rocks near the surface. Later, small near-surface gold deposits were mined in limy units within Ordovician rocks similar to those exposed at Cottonwood. Eventually, deep drilling at Getchell discovered the Turquoise Ridge deposit hosted by a thick carbonate section. Placer Dome (now Barrick) announced a 2005 reserve of 3,150,000 ounces of gold. The Getchell fault and other related structures served as the feeder fault for Turquoise Ridge.

The Company has identified a major gold-bearing shear zone at Cottonwood. A program of deep drilling is now needed to test the intersection of this shear zone with carbonate host rocks. Carbonate rocks are exposed in the Callaghan Window less than 10 miles (16 km) north of Cottonwood. Because of the cost of such a program, the Company is considering a joint venture of the property with a major gold producer.

BVT 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 Company’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.

Staged Property Share Issuance

In accordance with the terms of the two property option agreements (the “Agreements”) regarding the New Pass Property and the Squaw Creek Property located in north-central Nevada (the “Properties”), on September 29, 2006 the Company will issue 200,000 common shares to White Knight Resources Ltd. as the second of three staged issuances of shares required to be made pursuant to the Agreements. These shares will be subject to a hold period in British Columbia expiring on January 30, 2006.

Strategic Management Services Contract

In addition, the Company pleased to announce the engagement of 3971745 Canada Inc. (“3971745″), of Montreal, Quebec, a strategic management consulting and institutional financial relations expert firm working with publicly traded companies, to provide the Company with strategic advice regarding financing arrangements, private placements and other related services.

3971745 has been engaged pursuant to a three month service Agreement effective September 25, 2006, which may be terminated by either party with 30 days advance notice, and which may be extended by the Company for a further 12 month period. 3971745 will be paid cash consulting fees of $8,500 per month (plus GST), plus any approved expenses related to providing said the services.

3971745 will initiate and maintain contact with the financial community, as well as shareholders and investors. In addition, 3971745 will assist management with strategizing, formulating and implementing the Company’s communications programs.

The Company has also agreed to grant 3974715 options to purchase a total of 400,000 common shares in its capital stock with an exercise price to be calculated in accordance with the rules and policies of the TSX Venture Exchange (the “Exchange”) on the date of grant, and to be issued in accordance with BVT’s current Stock Option Plan, subject to vesting provisions as required by the Exchange for consultants who perform similar services (ie. vesting in stages of 12 months, with nor more than 1/4 of the options vesting in any three month period).

BVT has initially granted an option to 3974715 to purchase 200,000 common shares at a price of $0.17 per share, exercisable on or before September 26, 2009 or within 30 days of termination of the Service Agreement, whichever is sooner. The Company has agreed that it will thereafter grant 3974715 additional options to purchase 50,000 shares at the beginning of every financial quarter of BVT (being November 30, 2006, February 28, 2007, May 31, 2007, August 31, 2007) up until the total 400,000 options are granted, unless the Agreement is terminated, at which time no further options will be granted to 3974715.

As well, the Company will pay 3974715 a commission equal to 10% of any funds raised by 3974715 on behalf of BVT, payable in accordance with the rules and policies of the Exchange and all other applicable regulatory authorities in cash or shares, at the option of 3974715.

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.


Basil Pantages, President

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

Contacts: Bonaventure Enterprises Inc. Investor information (604) 718-2800 (604) 718-2808 (FAX)


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