Mr. Stephen Stares of Benton reports

PIEDMONT LITHIUM EXERCISES INITIAL EARN-IN RIGHT FOR INTEREST IN KILLICK LITHIUM; ISSUES $1 MILLION IN SHARES EACH TO BENTON AND SOKOMAN

Further to Benton Resources Inc.'s and Sokoman Minerals Corp.'s respective press releases issued on Oct. 11, 2023, Piedmont Lithium Inc. has provided formal notice to exercise its initial earn-in right to acquire a 16.35-per-cent voting and participating interest in Killick Lithium Inc. Pursuant to this exercise notice, Piedmont issued to each of Benton and Sokoman shares of its common stock having an aggregate subscription price of $2-million based on Piedmont's 10-day volume-weighted average price (VWAP) up to the date of the initial interest exercise notice, amounting to 26,099 Piedmont shares issued to each company. In addition, as part of its initial earn-in right, Piedmont will finance work expenditures in the aggregate amount of at least $6-million within the 30-month period following the initial earn-in right exercise notice. Upon exercise of the initial earn-in right by Piedmont, Piedmont's combined direct and indirect (through Vinland Lithium Inc.) ownership interest in Killick will be equal to approximately 33 per cent.

Piedmont transaction highlights:

• Piedmont is one of North America's leading lithium companies.
• Newfoundland is ranked in the top jurisdictions to explore and develop mineral potential.
• Benton and Sokoman incorporated Vinland Lithium and its wholly owned subsidiary Killick Lithium, into which they transferred the Golden Hope project.
• Piedmont has vast technical and geological knowledge in similar geology to that of Killick pegmatites.
• Piedmont financed Vinland $2-million at $1 per share to hold 19.9 per cent.
• Piedmont will have the option to earn up to a 62.5-per-cent direct interest in Killick by spending an aggregate $12-million in exploration and development during the option period.
• Upon Piedmont completing all earn-in options, Piedmont will have paid Benton and Sokoman up to a total of $10-million in Piedmont shares.
• Benton and Sokoman to retain a 2-per-cent royalty on the net returns of precious metals and the value of lithium received from Killick.

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, Benton retains net smelter return (NSR) royalties with potential long-term cash flow. Benton entered into a 50/50 strategic alliance with Sokoman Minerals through three large-scale joint venture properties, including Grey River Gold, Golden Hope and Kepenkeck in Newfoundland.

About Sokoman Minerals Corp.

Sokoman Minerals is a discovery-oriented company with projects in Newfoundland and Labrador, Canada. The company's primary focus is its portfolio of gold projects: flagship, 100-per-cent-owned Moosehead, Crippleback Lake (available for option) and East Alder (optioned to Canterra Minerals Corp.) along the central Newfoundland gold belt, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company also entered into a strategic alliance with Benton Resources through three large-scale joint venture properties, including Grey River Gold, Golden Hope and Kepenkeck in Newfoundland. Sokoman now controls independently and through the Benton alliance over 150,000 hectares (greater than 6,000 claims -- 1,500 square kilometres), making it one of the largest landholders in Newfoundland, Canada's newest and rapidly emerging gold districts. The company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to Thunder Gold Corp. (formerly White Metal Resources Inc.), and in Labrador, Sokoman has a 100-per-cent interest in the Iron Horse (Fe) project that has direct shipping ore (DSO) potential.

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