Mr. Stephen Stares reports

BENTON AND METALS CREEK OPTION BAY OF ISLANDS HYDROGEN PROPERTY TO BRUTUS MINING INC

Benton Resources Inc. and Metals Creek Resources Corp. have signed an option agreement dated Nov. 5, 2026, with Brutus Mining Inc., under which Brutus has been granted the option to acquire a 100-per-cent interest in the Bay of Islands project in western Newfoundland. The project comprises three licences totalling 334 claim units with an area of 83.5 square kilometres and is considered favourable for potentially hosting natural hydrogen.

Atlantic Canada is emerging as a highly prospective area for hydrogen exploration, with western Newfoundland having experienced a recent increase in project generation, such as First Atlantic Nickel's Ophiolite-X project and Luma Hydrogen's Lewis Hills hydrogen claims, both proximal to and in geologically similar environments to Brutus's Bay of Islands project.

A 2024 study evaluating natural hydrogen potential across Quebec noted that the "potential for natural hydrogen in southern Quebec is not necessarily limited to these areas. Key areas of interest include: (1) ophiolite complexes, which are correlative with the Bay of Islands complex in Newfoundland where Szponar et al. (2013) sampled strongly alkaline and highly reducing water sources containing dissolved hydrogen."

Similarly, a 1985 article from Tectonophysics suggests that the Bay of Islands complex (which hosts First Atlantic Nickel's Ophiolite-X project) and the Coastal complex (which hosts Brutus's Bay of Islands project) ophiolites formed within a main ocean basin (the early Paleozoic Iapetus Ocean) along a seafloor spreading centre and ridge-ridge transform fault, respectively.

Planned work

The project will be further evaluated utilizing a compilation of public geoscience data and structural interpretation leading to a proposed soil-gas survey and seismic mapping during the 2027 field season.

Terms of the agreement

Pursuant to the agreement entered into on Nov. 5, 2026, Brutus has an option to acquire a 100-per-cent undivided interest in the project, by paying the optionors an aggregate of $100,000 in cash ($20,000 within 10 business days of the effective date, and $30,000 and $50,000 on or before the first and second anniversaries of the effective date) and issuing to the optionors 1.2 million common shares in the capital of Brutus at a deemed price per share of 76 cents (200,000 shares within 30 business days of the effective date, and 400,000 and 600,000 shares on or before the first and second anniversaries of the effective date). Brutus may accelerate any cash payment or share issuance at its election.

Upon exercise of the option, the optionors will be granted a 3-per-cent gross metals return (GMR) royalty on the project with a 1.5-per-cent GMR being redeemable for a $1-million payment to the optionors. In the instance that the option is not fully exercised, the project must have work expenditures able to keep the three licences in good standing for at least six months if and so returned.

In addition to any hold period required under applicable securities laws and the policies of the Canadian Securities Exchange, the shares issued pursuant to the agreement will be subject to contractual resale restrictions. The first and second tranche shares will be subject to contractual resale restrictions expiring 36 months from issuance, with the exception of 100,000 shares under the first tranche and 100,000 shares under the second tranche. The third tranche shares will be subject to contractual resale restrictions expiring 12 months from issuance. The agreement is subject to acceptance by the CSE.

Both of these projects are located in western Newfoundland and cover large portions of prospective large sedimentary basins (Parson's Pond basin and Deer Lake basin), which have been underexplored for both H (hydrogen) and He (helium). Both basins are interpreted to be highly prospective environments to host both H and He with the presence of porous sandstones and conglomerates with associated mudstones and shales capping these formations. More importantly, the presence of chrome, serpentine with associated groundwater provide the mechanism to produce hydrogen, including regional fault structures, providing a pathway for H or He to migrate to the structural trap.

About Benton Resources Inc.

Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Benton is currently planning a spinout to shareholders of its high-grade Great Burnt copper gold project, 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 net smelter return (NSR) royalties with potential long-term cash flow.

Benton is focused on advancing its Dominion copper-zinc-gold project, its Victoria West/South gold projects, its Stoney Caldera copper-gold project and its various hydrogen-helium projects on the west coast of Newfoundland.

We seek Safe Harbor.