Benton Confirms New Gold Zone on Cape Ray Project

THUNDER BAY, ON, Nov. 16, 2012 /CNW/ - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") announces that the Company has received assay results from the newly identified PW Zone where re-sampling of two historical holes drilled in 1979 has confirmed the presence of bulk tonnage type gold grades and thicknesses in these drill holes.  The two holes were drilled approximately 150 meters apart and show good continuity of gold associated with a granitic intrusive unit interpreted to be the possible extension of the Windowglass Hill (WGH) deposit located 1.2km to the southwest.  Drill hole PB79-128 intersected 2 separate mineralized zones grading 1.64 gpt gold over 28.96m (including 4.68 gpt gold over 6.25m) and 1.18 gpt gold over 21.34m.  Drill hole PB79-133, located approximately 150m along strike to the NE returned 1.38 gpt gold over 20.73m including 7.86 gpt gold over 2.44m.

A table comparing the composited assay results for historic and current re-sampling is provided below:

* Includes interval from 1979 sampling (92.87 to 93.33 meters - 0.34% of core) which is now missing from core storage

The two holes, which are stored at the Newfoundland and Labrador government core storage facility located in Pasadena, were quarter cut and submitted to Eastern Analytical Laboratories located in Springdale, Newfoundland.  The Company plans to re-log and re-sample the remaining two holes associated with the PW Zone as soon as possible.  In addition, the company has commenced the rehabilitation of the access road to the property, which should be completed in approximately 2 weeks and will provide easy and cost effective access for upcoming exploration programs.

Benton recently announced an option agreement with Cornerstone Capital Resources Inc (TSXV: CGP) ("Cornerstone") to acquire up to a 75% interest in Cornerstone's Cape Ray project which hosts the Windowglass Hill (WGH) and the 51 Zone ("51") deposits. The 51 deposit has a NI 43-101 compliant inferred resource of 530,000 tonnes grading 6.10 gpt gold and 15.86 gpt silver containing 103,943 ounces of gold and 270,253 ounces of silver and the Windowglass Hill Deposit has a NI 43-101 compliant inferred resource of 1,810,000 tonnes grading 1.77 gpt gold and 11.28 gpt silver containing 103,001 ounces of gold and 656,415 ounces of silver (see Benton N.R. dated September 20, 2012).  Both deposits have excellent potential for expansion as well as for new discoveries as has been demonstrated in the newly identified PW zone.  The deposits are located on the west coast of Newfoundland, are situated on or near the Cape Ray Fault and are contiguous to Benton's large 100% owned Cape Ray East project.  Benton has recently completed a compilation of all available historical data and has identified several high priority targets which will be drill-tested after the road and drilling grids have been re-established.

Benton Resources Inc. would like to acknowledge and thank the government of Newfoundland and Labrador for the $100,000 Junior Exploration Assistance ("JEA") grant to assist in exploration of Benton's 100% owned Cape Ray East project.

Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release.

The Company currently has approximately $13.1 million in combined cash and investments but a market capitalization of only $7.25 million (based on the November 15, 2012 closing market price of $0.095 per share).  In addition to the large discount to its cash and investments, the Company has an excellent portfolio of prospective exploration projects.

On behalf of the Board of Directors of Benton Resources Inc.

"Stephen Stares"
Stephen Stares, President

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

SOURCE Benton Resources Inc.