tinto

Benton Receives Second Option Payment from Rio Tinto Exploration for Baril Lake West Project

Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce it has received the second anniversary option payment of $25,000 from Rio Tinto Exploration Canada ("RTEC") for Baril Lake West project (see PR: Benton Completes Option to Purchase Deal with Rio Tinto on Baril Lake Project, dated January 2, 2019). Baril Lake West is situated approximately 4km west of Benton's Bark Lake project, also under option to RTEC (see PR: Benton Options Bark Lake Cu-Ni-PGE Project to Rio Tinto, dated October 25, 2016), and immediately adjacent to RTEC's Baril Lake Project where RTEC discovered significant mineralization grading 4.78%Ni and 0.43% Cu over 2.08m in 2018 (Ontario ENDM Assessment File: 200000017073). These projects are approximately 100km west of the Escape Lake and TBN projects, along the major crustal-scale, east-west oriented, Quetico fault, in which the Escape Lake and TBN projects held by Clean Air Metals Inc. are situated. While the Baril Lake West and Bark Lake projects are early stage in nature, the Company believes they have the potential to contain a magmatic conduit system that could host Cu-Ni-PGEs. At Bark Lake, numerous mineralized boulders near the Quetico Fault contain anomalous Cu-Ni-PGEs grades up to 4.35gpt Pd, 2.64gpt Pt, 0.74gpt Au, 1.2% Cu, 1.5% Ni. Drilling completed by RTEC in 2018 on the Bark Lake project encountered mineralization of 0.31% Cu and 0.72gpt Pt + Pd over 19.2m (see PR: Benton Receives Results from Rio Tinto on Bark Lake Option, dated May 25, 2018). A map showing the location of the Baril West and Bark Lake projects appears on the Benton website (www.bentonresources.ca).

Equity Holdings

Benton continues to be very excited about the future of Clean Air Metals Inc. ("Clean Air"), in which Benton holds 24.6 million shares. Clean Air has two drill rigs operating on the Thunder Bay North and Escape Lake Copper-Nickel-PGM project and has released excellent drill results from its ongoing drill campaign. Benton anticipates ongoing success for Clean Air and looks forward to future resource developments and drill results.

Benton also holds 4.0 million shares of Quadro Resources Ltd., which is advancing various projects in Newfoundland and Ontario. Additionally, Benton holds 3.6 million shares of Maxtech Ventures Inc. Maxtech has an Option and Joint Venture agreement on Benton's Panama Lake gold project in the Red Lake mining region. Further, Benton holds 1 million shares of Sokoman Minerals Corp. which has recently released excellent drill results from its Moosehead Project in Newfoundland. Benton holds 1.38m shares of Metallica Metals Corp. advancing Benton's Saganaga Gold project in NW Ontario. Benton has two NW Ontario projects optioned to Rio Tinto Exploration Canada (the Bark Lake and Baril Lake West Copper-Nickel PGE projects).

QP

Nathan Sims (P.Geo.), 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/72418

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Finlay Minerals Announces Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units

Finlay Minerals Announces Non-Brokered Private Placement of Flow-Through Shares and Non-Flow-Through Units

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF ) ("Finlay" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement (the " Private Placement ") consisting of the issuance of any combination of: (i) common shares of the Company to be issued on a flow-through basis under the Income Tax Act ( Canada ) (each, a " FT Share ") at a price of $0.11 per FT Share, and (ii) non-flow-through units of the Company (each, a " NFT Unit ") at a price of $0.10 per NFT Unit, for aggregate gross proceeds to the Company of up to $1,000,000 . The Private Placement is subject to a minimum offering amount of $500,000 to be raised through any combination of FT Shares and NFT Units.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Cygnus Metals (TSXV:CYG)

Cygnus Metals


Keep reading...Show less
Copper Outlook: World Edition

Copper Outlook: World Edition

Copper Outlook: World Edition

Thank you for requesting our exclusive Investor Report!

This forward-thinking document will arm you with the insights needed to make well-informed decisions for 2025 and beyond.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces £4.5m Subscription by Institutional Investors

£4.5 million Subscription by Institutional Investors, Advancing Development of the Pitfield Titanium Project

Empire Metals Limited (LON:EEE)(OTCQB:EPMLF), the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce that is has raised £4.5 million by way of a subscription of 47,368,423 new ordinary shares of no par value in the capital of the Company at 9.5p (the 'Subscription Shares') to existing and new institutional shareholders (the 'Subscription').

Keep reading...Show less
Copper nuggets piled in front of a fluctuating stock chart.

After US$1.5 Billion Gold Payday, Chinese Billionaire Pivots to Copper for Energy Play

A reclusive Chinese tycoon has gained attention by once again defying the tide — this time shifting from gold to copper in a massive, calculated bet that's reportedly worth nearly US$1 billion.

Bian Ximing, a soft-spoken plastics billionaire, has emerged as China’s biggest copper bull. Through his brokerage firm Zhongcai Futures, he now holds the largest net long position in copper futures on the Shanghai Futures Exchange.

According to bourse data uncovered by Bloomberg and individuals familiar with the matter, Bian's stake — comprising nearly 90,000 metric tons worth of copper futures — is unmatched in China’s commodities market.

Keep reading...Show less
White Cliff Minerals

WCN Raises A$14.4M at an Average 29% Premium to Market Close

White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce it has received firm commitments to raise approximately A$14.4m (before costs) through the issue of 384,615,398 new, fully paid ordinary shares in the Company. Utilising the “flow-through shares” provisions under Canadian tax law 307,692,321 shares will be issued at an issue price of A$0.0403 per share representing a 38.9% premium to WCN’s last trading price of A$0.029 (14 May 2025) for a total of A$12.40m (Flow-Through). Additionally, the Company has received firm commitments to raise $2 million (before costs) through a share placement to new and existing sophisticated and professional investors (Placement). 76,923,077 shares will be issued under the Placement at $0.026 per share, being a 10.3% discount to the Company’s last closing price before trading halt.

Keep reading...Show less

Latest Press Releases

Related News

×