Bond Resources Announces Delay in Filing of Annual Financial Statements and files Application for MCTO

October 31, 2023

Vancouver, British Columbia ––Bond Resources Inc. (CSE: BJB) (the “Company” or “Bond”) announces that as a result of delays in the completion of its audit, the Company was unable to file its financial statements and accompanying management’s discussion and analysis for the financial year ended June 30, 2023 (collectively, the “Annual Filings”) by October 28, 2023, being the date that such filings are due under applicable Canadian securities law requirements. The Company is late in the completion of the Annual Filings due to a combination of factors including that the Company is currently attempting to resolve a material accounting adjustment over impairment of assets that is dependent upon the resolution of an agreement with property owners as well as obtaining financing, as required, to advance the agreement and property.  

In response to the reporting delay, the Company has applied to the British Columbia Securities Commission for a management cease trade order (the “MCTO”) which prohibits certain current directors, officers and insiders of the Company from trading in securities of the Company for so long as the Annual Filings are not filed.  Management is working with the auditors to ensure all audit standards are met prior to receipt of the Auditor’s Report pursuant to completion of the audit of the financial statements in accordance with IFRS standards.  We believe we will have all issues resolved and will satisfy auditor requirements on or before November 27, 2023.

Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Order.  The guidelines, among other things, require the Company to issue biweekly default status reports by way of a news release for as long as the Annual Filings have not been filed.  During the MCTO, the general investing public will continue to be able to trade in the Company’s shares.

The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on May 24, 2023 of the Company’s latest interim financial reports for the period ended March 31, 2023.

About the Company: Bond is a mineral resource company committed to pursuing mining projects of merit.  Led by industry veterans, Bond combines the technical expertise of industry experts and a transparent communications model to increase shareholder value.

(sgd.) "Joseph A. Carrabba"
Joseph A. Carrabba, President & CEO

Telephone: 1-604-602-4935    Facsimile: 1-604-602-4936
Contact: Joseph Carrabba

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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