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Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that it has, subject to approval by the TSX Venture Exchange (the "Exchange"), optioned the Kepenkeck gold project (the "Project") from Kevin and Alan Keats ("Keats") in central Newfoundland (the "Option"). Kevin and Alan Keats are seasoned prospectors from Newfoundland and have notably achieved recent success with the high-grade gold discovery at the Keats and Lotto zones being advanced by New Found Gold Corp. Benton acquired the prospective Project due to new road access, little historical work and due to the Project being situated in prospective geology along a major trend that hosts several high-grade gold zones to the south and west. Recent prospecting completed by Keats identified gold in grab samples, from trace values up to 2.45gpt, along with visible gold noted from panning till in two locations on the property.
The Company believes this represents a great addition to its gold portfolio and will immediately apply for exploration work permits including a detailed Magnetic and VLF airborne survey to be followed by prospecting and mapping.
Terms of the Option, subject to Exchange approval, are as follows:
- $10,000 and 200,000 common shares on signing and Exchange approval;
- $20,000 and 200,000 common shares on or before April 10, 2022;
- $20,000 and 200,000 common shares on or before April 10, 2023; and
- $40,000 and 400,000 common shares on or before April 10, 2024
Keats will retain a 2% NSR whereby Benton, at its election, will have the right to buy back 1% for CAD$1 million.
QP
Nathan Sims (P.Geo., PEGNL Member 09409), Senior Exploration Manager for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
About Benton Resources Inc.
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company's website. Most projects have an up-to-date 43-101 Report available.
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: 807-475-7474
Email: sstares@bentonresources.ca
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x231
Email: cathy@chfir.com
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83026
