Mr. Stephen Stares reports

BENTON CLOSES $1.56 MILLION NON-BROKERED PREMIUM FLOW-THROUGH FINANCING WITH INVESTMENT BY ERIC SPROTT

Benton Resources Inc. has closed its previously announced non-brokered private placement financing (see news release dated Nov. 27, 2023) pursuant to an arrangement with Wealth Creation Preservation & Donation Inc. (WCPD) and investor Eric Sprott. The company issued 6.25 million charity flow-through units for 25 cents per FT unit for aggregate gross proceeds of $1,562,500. Each FT unit consists of one common share of the company and one-half of one common share purchase warrant, each warrant being exercisable for an additional common share of the company at an exercise price of 25 cents for 36 months from the date of issue. The FT units will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).

Mr. Sprott, a long-time investor and largest shareholder of the company, acquired the 6.25 million units pursuant to the private placement as the back-end buyer for total consideration of $1-million through 2176423 Ontario Ltd., a corporation beneficially owned by him.

In connection with the private placement, the company has paid cash finders' fees totalling $12,000 and issued 150,000 finders' warrants, exercisable at 25 cents for 36 months from the date of issuance.

All securities issued pursuant to the private placement will be subject to a four-month-and-a-day hold period.

The company will use an amount equal to the gross proceeds received by the company from the sale of the FT units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the Income Tax Act (Canada) on or before Dec. 31, 2024, and to renounce all the qualifying expenditures in favour of the subscribers of the FT units effective Dec. 31, 2023. The proceeds from the sale of the FT units will be used to advance Benton's various exploration projects.

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.

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