Stockwatch

Benton Resources Inc
Symbol	BEX
Shares Issued	165,269,287
Close 2023-10-27	C$ 0.045
Market Cap	C$ 7,437,118
Recent Sedar Documents

Benton clarifies terms for mineral licence option

2023-10-30 13:21 ET - News Release

Subject: Benton Resources Inc. - Press Release for Dissemination Word Document File: '\\swfile\EmailIn\20231030 100636 Attachment 10-30-23 - Benton Outlines Option Terms for Mineral License from SSAF - FINAL.docx' 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 Thunder Bay, ON, October 30, 2023 - Further to its news release issued earlier today, Benton Resources Inc. ("Benton" or the "Company") (TSXV: BEX) would like to outline details of the option agreement to acquire a 100% interest in a strategic mineral license (the "Property") 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% interest in the Property which remain subject to approval by the TSX Venture Exchange are as follows: Upon regulatory approval, pay SSAF $10,000 and issue 100,000 common shares of the Company; Pay SSAF $10,000 and issue 100,000 common shares of the Company on the first anniversary of the effective date; Pay SSAF $10,000 and issue 100,000 common shares of the Company on the second anniversary of the effective date; Pay SSAF $30,000 and issue 300,000 common shares of the Company on the first anniversary of the effective date; and Expend $100,000 on the Property on or before the third anniversary of the effective date. 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. On behalf of the Board of Directors of Benton Resources Inc., "Stephen Stares" Stephen Stares, President Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below. For further information, please contact: Stephen Stares, President & CEO Phone: 807-475-7474 Email: sstares@bentonresources.ca Website: www.bentonresources.ca Twitter: @BentonResources Facebook: @BentonResourcesBEX THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.