Mr. Stephen Stares reports

BENTON RESOURCES INC. TO SEEK SHAREHOLDERS APPROVAL TO SPIN-OUT SHARES OF VINLAND LITHIUM INC.

Benton Resources Inc. has filed management proxy materials under its profile on SEDAR+ its annual and special meeting of shareholders. The meeting is currently set to be held Jan. 8, 2025, in Vancouver, B.C., although the actual date is likely to change as a result of the Canadian postal strike. At the meeting, Benton shareholders will be asked to approve a special resolution (two-thirds of votes cast) to reorganize Benton's share capital to facilitate a spinout to shareholders of approximately two million of Benton's four million shares of Vinland Lithium Inc. Vinland holds the Killick lithium project and is currently owned by Benton (40 per cent), Sokoman Minerals Corp. (40 per cent) and Piedmont Lithium Newfoundland Holdings LLC, a wholly owned subsidiary of Nasdaq-listed Piedmont Lithium Inc. (20 per cent). Sokoman will concurrently seek approval of its shareholders for a similar two-million-share spinout. Subject to the two spinouts completing, the TSX Venture Exchange has conditionally agreed to list the approximately 10 million issued shares of Vinland, of which approximately 40 per cent will be in the hands of Benton and Sokoman shareholders.

The spinouts will be substantially pro rata to Benton and Sokoman shareholders; however, the exact ratio of Vinland shares per Benton share will be determined prior to completion in January, 2025. The exchange ratio is dependent on the number of Benton shares issued at the time of completion. The ratio is expected to be approximately 50 Vinland shares per 5,000 Benton shares. Accounts holding less than 5,000 Benton shares (having an approximate $400 market value) will not receive Vinland shares as the immediate and continuing administration and compliance costs for very small odd-lot Vinland shareholders would be prohibitive.

Some of the key points for shareholders are as follows:

• The Killick lithium project holds excellent discovery potential in a newly discovered lithium belt.
• Piedmont, a wholly owned subsidiary of Nasdaq-listed Piedmont Lithium, completed a 2023 financing in Vinland of $2-million at $1 per share to hold 19.9 per cent.
• Piedmont Lithium is one of North America's leading lithium companies.
• Newfoundland is ranked as one of the top jurisdictions to explore and develop mineral potential.
• Piedmont Lithium has vast technical and geological knowledge in similar geology to that of Kraken pegmatites.
• Vinland holds indirectly, through its subsidiary Killick Lithium, a 100-per-cent interest in the Killick lithium project.
• Piedmont will have the option to earn up to a 62.5-per-cent direct interest in Killick Lithium by spending $12-million in exploration and development during the period of the option.
• Upon Piedmont completing all earn-in options, Piedmont/Piedmont Lithium will have paid Benton and Sokoman a total of $10-million in Piedmont Lithium shares in addition to having financed all the Vinland exploration and development costs.
• Benton and Sokoman to collectively retain a 2-per-cent net smelter retur (NSR) royalty on the Killick project.

In addition to the spinout resolution, Benton shareholders who attend the meeting will attend to annual matters, including consideration of Benton's June 30, 2024, audited financial statements and the election of directors and appointment of auditor.

Full details of the spinout and the other annual matters are contained in a management information circular dated Nov. 18, 2024, and filed under the company's profile on SEDAR+. This circular contains detailed information on Vinland as a stand-alone company and will be mailed to registered shareholders once the postal strike is over and will contain details of the final meeting date as that appears likely to change as of the date of this news release.

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 NSR royalties with the potential for 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 copper indicated and 482,000 tonnes at 2.35 per cent copper inferred. The project has an excellent geological setting covering 25 kilometres of strike and boasts six known copper-gold-silver zones over 15 kilometres that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and copper-gold soil anomalies. Phase 1 and phase 2 drill programs returned impressive results, including 25.42 metres of 5.51 per cent copper, including 9.78 metres of 8.31 per cent copper, and 1.00 metre of 12.70 per cent copper. Drilling at the South Pond gold zone, approximately 7.5 kilometres north of the Great Burnt copper-gold zone, has confirmed a robust gold-mineralized system over 2.5 kilometres with results of 74.20 metres of 1.43 grams per tonne gold and 43.75 metres of 1.62 grams per tonne gold and is open for expansion in all directions.

We seek Safe Harbor.