Mr. Stephen Stares reports

BENTON RESOURCES INC. SPINS-OUT SHARES OF VINLAND LITHIUM INC.

At Benton Resources Inc.'s annual shareholder meeting held March 21, 2025, Benton shareholders approved 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 common 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 shareholders concurrently approved a similar two-million-share spinout. The TSX Venture Exchange has now approved the listing of 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 are substantially pro rata to Benton and Sokoman shareholders. The exchange ratio is approximately 50 Vinland shares per 5,000 Benton shares. Accounts holding less than 5,000 Benton shares (having an approximate $375 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.

The company expects the distribution of the Vinland shares to its shareholders to occur on or around April 30, 2025.

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 Inc., 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 Inc. 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 are to collectively retain a 2-per-cent net smelter return royalty on the Killick project.

Full details of the spinout and the other annual matters are contained in a management information circular dated Feb. 4, 2025, and filed under the company's profile on SEDAR+.

About Benton Resources Inc.

Benton Resources is a well-financed mineral exploration company listed on the TSX-V 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 Resources 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.

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