Benton Resources Corp. Receives $8.26 Million in Cash and Shares on Closing of Marathon Takeover Transaction
![Benton Resources Corp. Receives $8.26 Million in Cash and Shares on Closing of Marathon Takeover Transaction](https://www.minenportal.de/media/goldseiten-news.jpg)
Benton received the majority of its Marathon shares in March 2009 when it sold a portion of its Bermuda land package consisting of one mining lease (the Bamoos lease) and an adjacent claim block covering a total of 329 hectares for 1.5 million Marathon shares, $300,000 cash and a 2% net smelter returns royalty (see Benton PR dated March 25, 2009).
Stephen Stares, Benton's President and CEO commented, 'We are very pleased for our shareholders as this transaction has yielded substantial value for Benton in the form of both a cash injection as well as highly prospective Stillwater shares with tremendous upside potential, all at no dilution to our shareholders. In addition, we are pleased to have a stake in Marathon Gold Corp. as the Marathon team has made great achievements thus far in exploring their gold property portfolio. We look forward to benefiting from the advancement of both Marathon Gold and Stillwater moving forward and wish both teams much success.'
Benton is a Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements. The Company currently has approximately $9.4 million in cash, owns 38.1 million shares and 19.1 million warrants in Coro Mining Corp. (TSX: COP), holds 782,500 shares in Marathon Gold Corp. (TSX: MOZ), holds 1.6 million shares in Puget Ventures (TSX VENTURE: PVS), holds 815,000 shares of Bell Copper Corporation (TSX VENTURE: BCU) and retains a 2% Net Smelter Royalty on the northern portion of the Marathon PGM deposit.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Corp.
Stephen Stares
President
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Benton Resources Corp.
Stephen Stares
3250 Arthur St. West, RR #2, Thunder Bay, ON P7C 4V1
(807) 475-7474
(807) 475-7200 (FAX)
www.bentonresources.ca
Investor Relations
Clair Calvert
(204) 799-2086