Benton Completes AGM and Provides Corporate Recap for 2023
Thunder Bay, December 28, 2023 - To the shareholders of Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company"):
As the Christmas holiday season is upon us and 2023 comes to an end, Benton Resources Inc. would like to wish everyone a happy, healthy and prosperous year ahead.
The Company is also pleased to announce that all matters put forth for approval by shareholders at the Annual General Meeting held on December 19, 2023, were successfully passed. The Company would also like to provide a summary of its 2023 achievements as it gets ready for an exciting year ahead in 2024.
- Acquired the high-grade Great Burnt Copper-Silver-Cobalt-Gold project;
- Completed 5,700m of drilling on the Great Burnt in October-November 2023 with excellent results from the first 11 drill holes with 11 remaining to report;
- Recently completed $1.56M FT financing with investment from Eric Sprott, Benton's largest shareholder;
- Significantly advanced the Kraken Lithium field with the discovery of the Killick Dyke system and outlined numerous other high priority targets. Received Explorer of the Year award along with Sokoman Minerals Corp. from the CIM in NL for this discovery;
- Established $12M partnership with Piedmont Lithium to create Vinland Lithium Inc. and subsidiary Killick Lithium Inc.;
- Vinland received a $2M financing from Piedmont priced at $1.00 per share;
- Benton holds 4M shares of Vinland;
- Benton received $1M payment in shares from Piedmont with another $4M expected over 54 months should Piedmont complete the option;
- Recently completed option to Renegade Gold on Panama Lake gold project in the Red Lake mining district, received final payment of $300,000 in shares; and
- Benton continues to monitor its 24.6M share equity interest in Clean Air Metals which is advancing the high-grade Thunder Bay North Platinum-Palladium-Copper-Nickel deposits.
In 2024, the company is committed to advancing the Great Burnt Copper Deposit ("GBCD"), along with testing the many other high priority zones of Copper, Gold, Cobalt and Silver over 15km. The Company will also release the remaining 11 drill holes from the recently completed 22 drill hole program, as they become available. Recent highlights from the first 11 holes include 8.31% Cu over 13.0m in GB-23-02, 26.87m grading 7.18% copper in GB-23-04 and 12.30m grading 7.20% copper in GB-23-07. The Company will start its second phase drilling campaign on the GBCD in February and will continue with extensive exploration throughout the year on new and historical high priority targets.
Management will also continue with the advancement of listing Vinland Lithium Inc on the TSX Venture in early 2024. Benton is well-financed and 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 (see www.bentonresources.ca).
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: 807-474-9020
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.
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