Mr. Stephen Stares reports
BENTON CLARIFIES OPTION TERMS OF RECENTLY ACQUIRED HIGHLY STRATEGIC LAND POSITION AROUND THE SOUTH POND DEPOSITS IN THE NORTHERN PORTION OF THE GREAT BURNT COPPER-GOLD PROJECT
Further to its news release issued earlier today, Benton Resources Inc. has outlined details of the option agreement to acquire a 100-per-cent interest in a strategic mineral licence encompassing 27 claim units that surrounds the northern portion of Benton's recently acquired Great Burnt copper-gold project. The property was optioned from Stephen Stockley Agriculture and Fabrication Inc. (SSAF) and surrounds the South Pond, South Pond A and South Pond B deposits.
Terms of the agreement to acquire a 100-per-cent interest in the Property which remain subject to approval by the TSX Venture Exchange are as follows:
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Upon regulatory approval, pay SSAF $10,000 and issue 100,000 common shares of the Company;
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Pay SSAF $10,000 and issue 100,000 common shares of the Company on the first anniversary of the effective date;
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Pay SSAF $10,000 and issue 100,000 common shares of the Company on the second anniversary of the effective date;
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Pay SSAF $30,000 and issue 300,000 common shares of the Company on the first anniversary of the effective date; and
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Expend $100,000 on the Property on or before the third anniversary of the effective date.
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SSAF will retain a 2% Net Smelter Returns royalty with Benton having the right to buy back half of the royalty (1%) by paying SSAF $1 million at any time prior to the Property being put into production.
About Benton Resources Inc.
Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Following a project generation business model, Benton has a diversified, highly prospective property portfolio of gold, silver, nickel, copper, platinum group elements and, most recently, lithium and cesium assets. In addition, it currently holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.
Benton is also a 50/50 partner in a strategic alliance with Sokoman Minerals Corp. through three large-scale joint-venture properties, including Grey River Gold, and Kepenkeck in Newfoundland.
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