Mr. Stephen Stares reports

BENTON ADVISES HOMELAND NICKEL THAT IT HAS COMPLETED EARN-IN FOR 70% INTEREST IN GREAT BURNT; RELEASES FURTHER PHASE 3 DRILL RESULTS THAT CONTINUE TO EXPAND THE GREAT BURNT COPPER DEPOSIT DOWN PLUNGE

Benton Resources Inc. has advised Homeland Nickel Inc. (formerly Spruce Ridge Resources Ltd.) that it has now fulfilled its required $2.5-million in exploration expenditures pursuant to the option agreement dated Sept. 20, 2023, between the companies resulting in Benton vesting its 70-per-cent ownership interest in the Great Burnt copper project in Newfoundland. As per the earn-in completion notice, Benton has temporarily paused drilling until Homeland formally accepts the expenditures completed to date by Benton.

Additionally, the company awaits notice as to whether or not Homeland will participate at a 30-per-cent joint venture level on future exploration program expenditures as well as finane its share of actual expenditures incurred by Benton beyond the $2.5-million earn-in. Benton is proposing to continue with its aggressive exploration plan which includes a further 10,00 to 15,000 metres (m) of drilling along with regional targeting of new deposits and further delineation of the Great Burnt deposit and South Pond deposit. Benton's field exploration crew will continue regional exploration as the companies enter the joint venture agreement on a 70-per-cent Benton/30-per-cent Homeland basis.

The also company announces that it has received more high-grade results from the first three drill holes in its phase three drill program (see Table 1). These new results expand the Great Burnt deposit further down plunge and along strike to the south, with additional significant metal content of zinc, silver, cobalt and gold adding to the value of the Great Burnt deposit at depth. Further assay results of wider and deeper intersections of massive sulphides are expected in the coming weeks, leaving the deposit completely open for expansion. The company has completed 3,840 metres in 10 holes along with multiple trenches and continuous channel samples from which it is also expecting results in the coming weeks. Extensive regional infill soil sampling and prospecting is still under way with results pending.

Company president and chief executive officer Stephen Stares states: "The Great Burnt deposit continues to demonstrate its enormous potential that lies at depth and along strike, which remains completely open. Our next steps are to aggressively step out with four deeper drill holes to expand the deposit a further 200 m down plunge and along strike beyond hole GB-24-45 which cut 11.50 m of massive sulphide. In addition, we will be testing other targets around the main zone including the North Stringer area and a parallel EM conductor along with other distinct targets. Outside of the Great Burnt deposit area, we continue to gather and compile important data to understand the other historic zones of interest to the north. We have a significant number of channel samples pending which will assist in targeting for that area in the next few weeks ahead."

Table 1: Highlights of assays in first three holes received in phase 3 program include that shown in the attached table.

Highlights from the Benton's first two phases at the Great Burnt deposit include:

• GB-23-02: 13.00 metres of 8.31 per cent Cu, including 3.00 m of 12.80 per cent Cu;
• GB-23-04: 26.87 m of 7.18 per cent Cu, including 11.16 m of 10.28 per cent Cu;
• GB-23-07: 12.30 m of 7.20 per cent Cu, including 7.00 m 10.60 per cent Cu;
• GB-23-12: 25.42 m of 5.51 per cent Cu, including 1.00 m of 8.77 per cent Cu, 82.00 grams per tonne Ag (silver), 4.43 g/t Au (gold).
• GB-23-15: 22.59 m of 5.03 per cent Cu, including 0.50 m of 20.00 per cent Cu;
• GB-23-16: 13.67 m of 5.80 per cent Cu, including 1.00 m of 20.60 per cent Cu;
• GB-23-18: 8.17 m of 4.22 per cent Cu, including 7.05 m of 4.11 per cent Cu;
• GB-23-21: 24.00 m of 5.81 per cent Cu, including 7.00 m of 11.47 per cent Cu;
• GB-23-22: 21.68 m of 3.59 per cent Cu, including 2.00 m of 15.3 per cent Cu;
• GB-24-23: seven m of 2.02 per cent Cu, including 4.00 m of 3.01 per cent Cu;
• GB-24-32: 11.29 m of 3.10 per cent Cu, including 6.63 m of 5.57 per cent Cu;
• GB-24-33: 20.92 m of 2.26 per cent Cu, including 2.98 m of 4.17 per cent Cu;
• GB-24-37: 18.10 m of 1.99 per cent Cu, including 4.50 m of 7.24 per cent Cu

Note: Widths quoted are true core length, true widths are estimated at approximately 70 per cent of core lengths.

QA/QC (quality assurance/quality control) protocols

Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical Ltd., Springdale, Nfld., for preparation and analysis. All samples were acquired by saw-cut (channels/drill core) with one-half submitted for assay and one-half retained for reference, or hand (rocks) and delivered, by Benton personnel, in sealed bags, to the Springdale lab of Eastern Analytical, which is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analyzed using Eastern's Au (fire assay) at 30 g plus ICP-34 method that delivers a 34-element package utilizing a 200-milligram subsample totally dissolved in four acids and analyzed by ICP-OES analytical technique. Overlimits are analyzed with Eastern's atomic absorption method, using a 0.200 g to 2.00 g of sample, digested with three acids. All reported assays are uncut. Eastern Analytical Ltd. achieved ISO 17025 accreditation in February, 2014 (for more details on the scope of accreditation visit the CALA website).

QP

Stephen House (PGeo), vice-president of exploration for Benton Resources, the qualified person under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.

About Benton Resources Inc.

Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Benton has a diversified, highly prospective property portfolio and 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 is focused on advancing its high-grade copper-gold Great Burnt project in central Newfoundland, which has a mineral resource estimate of 667,000 tonnes at 3.21 per cent Cu indicated and 482,000 at 2.35 per cent Cu inferred. The project has an excellent geological setting covering 25 km of strike and boasts six known Cu-Au-Ag zones over 15 km that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil anomalies. Phase 1 and 2 drill programs returned impressive results including 25.42 m of 5.51 per cent Cu, including 9.78 m of 8.31 per cent Cu and 1.00 m of 12.70 per cent Cu.

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