Base Metals

East dyke swarm has multiple Li-bearing (spodumene) dykes up to 27 m wide, located 600 m to the east of the Kraken discovery dyke

Sokoman Minerals Corp. (TSXV:SIC) (OTCQB:SICNF) ("Sokoman") and Benton Resources Inc. (TSXV:BEX) ("Benton") together, (the "Alliance") are pleased to update shareholders on the drilling progress at both the Kraken Lithium and Grey River Gold projects in southwest Newfoundland

Sokoman Minerals Corp., Thursday, July 28, 2022, Press release picture

Early in 2022, the Alliance completed the first-ever drill campaign for lithium on the Island of Newfoundland at the Kraken Lithium discovery on the Golden Hope JV Project. Six diamond drill holes tested the original Kraken discovery-dyke area where selective surface grab samples returned values from trace up to 2.37% Li2O. The winter drilling program verified the existence of significant lithium-rich dykes flanking the regional Bay d'Est Fault where hole GH-22-01 intersected 0.94% Li2O over 8.4 m. Important structural information was obtained from the drilling including the presence of relatively flat-lying dykes, as well as folding in the system. The flat-lying dykes are significant, in that the bulk of the lithium mineralization at Piedmont Lithium's Piedmont project in North Carolina lies in flat-lying dykes linking subvertical dipping dykes.

In May and June, 2022, the Alliance constructed a ten-man exploration camp and mobilized an excavator and diamond drill rig to the project site. To date in this exploration phase, the Alliance has completed further mapping, prospecting, trenching, and an additional 2392 m of drilling in 13 drill holes. The new drilling has targeted the East Dyke swarm, which is 600 m to 650 m to the east of the Kraken discovery dyke, intersecting multiple spodumene-bearing pegmatite dykes, over core lengths of up to 27 m while also gaining a better understanding of the geological setting of the dykes for future targeting.

The drill program is shut down for a scheduled crew break with drilling to recommence in two weeks. The Alliance will continue with regional exploration in the area including mapping, prospecting and soil geochemical sampling over this large and prospective area.

Sokoman's President and CEO Tim Froude, comments: "Drilling at Kraken's East Dyke Swarm has delivered multiple significant intersections of spodumene-rich pegmatite with multiple targets remaining to be tested. We will be completing a multidisciplinary program to further define drill targets at this rapidly-emerging lithium prospect. At Grey River, the large silica system is being tested by drilling that will continue for at least another month. The size of the system is impressive, and we hope to determine regional controls on the gold mineralization as we move forward with the program. We are proving again through this exploration that much of Newfoundland has been underexplored, and what is required is an aggressive approach to drilling, something that has been lacking in the past."

Benton's President and CEO Stephen Stares, states: "We are very pleased with our success rate thus far on both the Kraken and Grey River projects. While it is easier to assess success through the visual identification of spodumene in the Kraken drill core, we are also looking forward to receiving and analyzing the gold assays from the Grey River project. Our collective exploration teams are hoping that we are in the early days of Newfoundland's next wave of big mineral discoveries."

More than 700 core samples have been cut and submitted to the SGS Prep Lab in Grand Falls-Windsor and then shipped to SGS Lab in Burnaby, BC for Lithium and multi-element analysis.

Sokoman Minerals Corp., Thursday, July 28, 2022, Press release picture

Steve Stares, President and CEO of Benton Resources, with a section of spodumene dyke from GH-22-15

Sokoman Minerals Corp., Thursday, July 28, 2022, Press release picture

Spodumene (lithium) rich section of GH-22-15 - Kraken Prospect - Golden Hope Joint Venture

At the Grey River Gold Project, the Alliance is currently drilling hole GR-22-14, the ninth drill hole of a planned 15-20-hole, 2,000 m program designed to test the geometry at depth of units associated with anomalous gold on surface, as well as mineralized intercepts from the Phase 1 program. DDH GR-21-01 intersected three parallel gold zones including 1.80 m of 10.58 g/t Au (see November 25, 2021 press release). The gold mineralization is associated with zones of silica associated with disseminated and stringer pyrite (from 2% - 20% pyrite) in the >10-km-long quartz/silica body.

To date the Alliance has cut and submitted 400 core samples for analysis* at Eastern Analytical in Springdale, NL. Prospecting and mapping will be continued throughout the summer to assist with drill targeting.

Sokoman Minerals Corp., Thursday, July 28, 2022, Press release picture

Drill core from Grey River showing sulphide stringers cross-cutting the silica zone - GR-22-11

*All samples are shipped to Eastern Analytical Ltd., in Springdale, NL for Au (by fire assay) and 34 element ICP analysis. Any assay returning greater than 1 g/t Au (1 gram per tonne gold or 1000 ppb gold) will be re-assayed using metallics pulp methods. Blanks and standards are regularly inserted as part of the Alliances' joint sampling protocols, in addition to standards and duplicates inserted by Eastern Analytical Ltd. Eastern Analytical Ltd. is an ISO accredited lab.

QP

This news release has been reviewed and approved by Timothy Froude, P.Geo., President and CEO of Sokoman Minerals Corp., and Stephen House, P.Geo., VP Exploration of Benton Resources Inc. Both are 'Qualified Persons' under National Instrument 43-101.

COVID-19 Protocols

To ensure a working environment that protects the health and safety of the staff and contractors, Sokoman and Benton will continue to use best practices in the course of performing all work programs and will follow any future federally or provincially mandated or recommended COVID-19 guidelines.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland and Labrador, Canada. The company's primary focus is its portfolio of gold projects: flagship, 100%-owned Moosehead, Crippleback Lake, and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company has also entered into a strategic alliance (the Alliance) with Benton Resources Inc. through three large-scale joint-venture properties including Grey River Gold, Golden Hope and Kepenkeck on the island of Newfoundland. Sokoman now controls independently and through the Alliance over 150,000 hectares (>6,000 claims - 1,500 sq. km), making it one of the largest landholders in Newfoundland, Canada's newest and rapidly-emerging gold district. Sokoman also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the company has a 100% interest in the Iron Horse (Fe) project that has Direct Shipping Ore (DSO) potential.

About Benton Resources Inc.

Benton Resources Inc. is a well-funded mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Following a project generation business model, Benton has a diversified, highly-prospective property portfolio in Gold, Silver, Nickel, Copper, and Platinum Group Elements, and most-recently Lithium assets, and currently holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains Net Smelter Return (NSR) royalties for potential long-term cash flow. Benton has also recently entered into a 50/50 strategic alliance with Sokoman Minerals Corp. (TSXV: SIC) through three large-scale joint-venture properties including Grey River Gold, Golden Hope, and Kepenkeck in Newfoundland that are now being explored.

For further information, please contact:

CHF Capital Markets
Thomas Do, IR Manager
Phone: 416-868-1079 x 232
Email:thomas@chfir.com

Sokoman Minerals Corp.
Timothy Froude, P. Geo., President & CEO
Phone: 709-765-1726
Email:tim@sokomanmineralscorp.com

Benton Resources Inc.
Stephen Stares, President & CEO
Phone: 807-475-7474
Email:sstares@bentonresources.ca

Website: www.bentonresources.ca, www.sokomanmineralscorp.com
Twitter: @BentonResources, @SokomanMinerals
Facebook: @BentonResourcesBEX, @SokomanMinerals
LinkedIn: @BentonResources, @SokomanMinerals

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 Alliance's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Alliance's prospects, properties and business detailed elsewhere in the Alliance'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 Alliance 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 Alliance's expectations or projections.

SOURCE: Sokoman Minerals Corp.



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Benton Resources

Overview

The prospect generator model has become one of the resource industry’s best strategies for minimizing risks associated with exploration-stage projects. With the intent to maximize rewards, this model combines diverse portfolios, strong partnerships and capital structures that reduce dilution. Because of this, investors get an opportunity to capitalize on some of the most prospective exploration and mining companies in the world under highly favorable conditions.

The prospect generator model is a unique take on exploration. Analysts point out that most of the value in prospective companies is the team’s intellectual capital and talents rather than its assets. With the right team, investors could see substantial returns and exposure to potential discoveries that some companies only dream of.

Benton Resources (TSXV:BEX) is a project generator and mineral exploration company focused on base and precious metal exploration. The company’s diverse property portfolio includes several highly prospective Canadian projects that leverage mining-friendly judicial conditions, strong partnerships and tremendous infrastructure for mining success. Many of Benton’s high-grade projects are available for option and cover various mineral assets, including gold, silver, nickel, copper and platinum group metals (PGMs).

Benton’s key projects and equity positions are in partnership with some of Canada’s biggest mining and exploration players. For example, Rio Tinto Canada currently operates its Bark Lake project and Baril Lake West PGM project. In January 2021, Benton announced it had received the second-anniversary option payment of C$25,000 from Rio Tinto Canada for the Baril Lake West project. This project is particularly exciting due to 2018 discoveries of significant mineralization grading 4.78 percent nickel and 0.43 percent copper over 2.08 m on Rio’s neighboring claim.

Benton’s diverse portfolio presents investors with tremendous near and long-term upside. The company currently has over 34 million combined shares in some of Canada’s most exciting mining and exploration projects and jurisdictions. This includes 24.6 million shares of Clean Air Metals (TSXV:AIR), which is advancing the high-grade Thunder Bay North and Escape Lake PGM projects; 4.0 million shares of Quadro Resources (TSXV:QRO), which is advancing the Staghorn Gold project in Central Newfoundland near Marathon Gold’s multi-million ounce gold discovery; 1.38 million shares of Metallica Metals (CSE:MM), which is working on the Saganaga Gold (now Starr) project; and 3.6 million shares of Maxtech Ventures (TSXV:MVT), which is advancing the company’s Panama Lake gold project in the prolific Red Lake District.

Partnerships like these provide Benton with excellent project generation and expansion opportunities while giving investors exposure to other exciting projects inside Benton’s portfolio, such as its highly prospective Far Lake and Iron Duke gold projects. Benton hosts other significant investor opportunities, and the company focuses on retaining net smelter royalties (NSR) when possible for potential long-term cash flow.

The company’s high-quality property portfolio is matched with a world-class management team. In 2007, management members received the PDAC Bill Dennis Award and later the NWOPA Discovery of the Year Award in both 2015 and 2017.

Key Projects

Far Lake Project

Benton acquired the Far Lake project from White Metal Resources (TSXV:WHM) with the option to earn up to 70 percent interest. The project has strong infrastructure, including access to logging roads starting at the Trans-Canada Highway, the CN rail and efficient power.

In 2017, WHM discovered the primary copper-sulfide occurrence on the property. Further soil geochemical sampling identified excellent copper zone targets, which poses exciting potential discoveries as prospecting and mapping structures and project geology continue. Trenching and sampling programs at the Far Lake provided results that include a 0.7 m channel sample that assayed 22.0 percent copper, 30.2 g/t silver and 0.25 g/t gold.

The first phase drilling has discovered wide zones of copper mineralization including 0.15 percent copper (Cu) over 60.4 m, 0.35 percent Cu over 15.6 m and 1.43 percent Cu over 2.6 m in FL-20-11, and further samples have been submitted as current results ended in copper mineralization. Drill hole FL-20-11 is located approximately 1,900 m NW along the same structure as the Far Lake main zone which also produced significant results, including 0.19% Cu over 34.6m including 0.89% Cu 1.08g/t Ag over 4.0m in FL-20-03. It should be noted that drilling in holes FL-20- 01 to FL-20-05 in the Far Lake main zone was interrupted by a series of diabase dykes, and further deeper drilling is being planned to intersect the zones further away from the dykes.

In December 2020, the company hired Abitibi Geophysics to complete a detailed 12 km2 DasVision 3D Induced Polarization (IP), which identified high priority targets for the Phase II drill program that is currently underway.

Results of the first drill program are as follows:

Thunder Bay North (TBN) and Escape Lake Project

On July 2, 2019, Benton Resources announced that it had executed two separate binding purchase agreements with Rio Tinto Exploration Canada (RTEC) and Panoramic Resources (PAN) (ASX:PAN) to purchase 100 percent interest in the TBN and Escape Lake deposits located only 50 km from the company’s office in Thunder Bay and approximately 60 km south of Impala Canada’s Lac des Iles Mine.

Under the agreements, Benton paid RTEC C$3 million on signing with further C$3 million paid over 3 years. RTEC retained a 1 percent Net Smelter Royalty (NSR) on the Escape Lake claims. Under the PAN Agreement, Benton would acquire PAN’s wholly owned Canadian subsidiary, Panoramic PGMs Canada Ltd., which holds the Thunder Bay North Project (the ‘TBN Project’) for $9 million CAD.

Subsequently Benton entered into an agreement with Regency Gold, which later changed its name to Clean Air Metals (TSXV:AIR). Clean Air would pay all remaining payments and complete all commitments under the agreements. Benton received 24.6 million shares of AIR and retains a 0.5 percent net smelter return royalty from production on the Escape Lake Deposit and a 0.5 percent net smelter return royalty from production on any mineral claims comprising the TBN portion of the project where a net smelter royalty has not previously been granted, which includes the Beaver and Cloud Zones plus portions of the Bridge Zone, each being part of the Current Lake deposit excluding the northern portion of the TBN deposit under Current Lake, where there is an existing 3 percent NSR.

Since the closing of the transaction, and in a short period of time, Clean Air has aggressively and efficiently advanced the project with a recent new mineral resource estimate prepared by Nordmin Engineering. It was based on an underground ramp-access constrained resource model with a cut-off value equating to 1.56 g/tonne PdEq (2.56 g/t PtEq) using 3 year trailing average metal prices for all metals except cobalt, which used a 2 year trailing average.

The Current Lake deposit contains an Indicated Mineral Resource of 11,999,177 tonnes grading 3.44 g/t PdEq and an Inferred Mineral Resource of 6,406,960 tonnes grading 2.02 g/t PdEq. The Escape Lake deposit contains an Indicated Mineral Resource of 4,286,220 tonnes grading 3.67 g/t PdEq and an Inferred Mineral Resource of 3,445,179 tonnes grading 2.23 g/t PdEq equating to 1,834,158 ounces PdEq indicated and a total Inferred Resource of 663,660 ounces PdEq.

The TBN project is located 40 km north of the City of Thunder Bay, Ontario and 65 km south of the Lac des Iles palladium mine owned by Impala Canada. Two drills continue to turn, and Clean Air is expected to deliver a PEA in the second quarter of 2021.

Bark Lake and Baril Lake West Projects

Benton has executed an option to joint venture agreement with Rio Tinto Exploration Canada Inc. on the Bark Lake project. Under the terms of the Option, Rio Tinto can earn a 70 percent interest by incurring C$3 million in exploration expenditures and by paying Benton C$50,000 cash over 5 years (the “First Option”). After the First Option period, RTEC may either form a joint venture with Benton on a 70/30 basis or, at its election, increase its interest to 80 percent (the “Second Option”) by spending an additional C$5 million in exploration expenditures over 4 years and by paying Benton C$100,000 cash within 30 days after electing to exercise the Second Option. Upon exercising the Second Option, RTEC may elect to form a joint venture with Benton on an 80/20 basis.

The Bark Lake property hosts widespread greenstone and granitic rock coverage along the Quetico Fault. It is approximately 100 km west of the Escape Lake and Thunder Bay North projects. The Bark Lake property is host to a number of platinum (Pt), palladium (Pd), gold (Au), copper (Cu) and nickel (Ni) showings contained in mineralized ultramafic rock either in outcrop or dozens of mineralized boulders. The mineralized occurrences are situated along the Quetico Fault, a major crustal-scale east west oriented structure. Grab samples collected by Hackl Prospecting have returned grades up to 4.35 g/t Pd, 2.64 g/t Pt, 0.74 g/t Au, 1.2 percent Cu and 0.5 percent Ni. Samples collected by Benton personnel have confirmed significant precious and base metals across the project area. More recent sampling has returned individual assays grading up to 1.5 percent Ni, 1.2 percent Cu, 2.6 g/t Pt, 1.4 g/t Pd and 0.7 g/t Au. Twelve out of the 16 samples taken from the area returned results higher in Platinum than Palladium. Also of particular interest was the discovery of several semi-massive, net-textured sulphide boulders, with one measuring around 1 cubic metre in size and assaying 1.5 percent Ni. The boulders are angular in nature and believed to be located very close to the source.

In order to determine the source of the high-grade boulders, Benton carried out an extensive exploration program on the property including line-cutting, ground magnetics, ground IP, geological mapping and prospecting. The Mag and IP survey helped to define an ultramafic intrusion to the north of the property. Drill targets were defined based on the geophysical interpretation and Benton intersected the ultramafic intrusion in holes BL-08-04 and BL-08-05. Weak mineralization was present in these intersections but not to the same degree as in the boulders.

Subsequent drilling completed by RTEC in 2018 on the Bark Lake project encountered mineralization of 0.31 percent Cu and 0.72 g/t Pt + Pd over 19.2 m (see PR: Benton Receives Results from Rio Tinto on Bark Lake Option, dated May 25, 2018).

Benton has also entered into an option agreement with Rio Tinto Exploration Canada Inc. whereby RTEC will have the right to earn a 100% interest in Benton’s Baril Lake West claims located approximately 5 km west of Benton’s Bark Lake project which is currently under option to RTEC. Pursuant to the terms of the agreement, RTEC can earn 100 percent of the Baril project by paying Benton C$200,000 over 4 years and should RTEC achieve commercial production at the project, will pay Benton an additional C$1,000,000. The Company will also retain a 2 percent Net Smelter Royalty (NSR), 1 percent of which can be purchased by RTEC for C$1,000,000. The Company considers the Baril Lake project to be a favourable setting to potentially host copper-nickel and platinum group metals. Drilling completed by RTEC on it 100 percent owned Baril Lake Project located approximately 700 m east of Benton’s Baril Lake West had discovered a new significant mineralized zone grading 4.78 percent Ni and 0.43 percent Cu over 2.08 m in 2018 (Ontario ENDM Assessment File: 200000017073).

Saganaga Gold-Silver Project (now Starr Property)

Benton announced on August 11, 2020 that it had entered into an Option Agreement with 2752300 Ontario Inc., a private Ontario company, which has now been acquired by Metallica Metals Corp. (through its ownership of 2752300 Ontario Inc.). The company can earn up to a 100 percent interest in the Project by completing the following:

  • paying the company $50,000 in cash (paid) and issuing the greater of 1,000,000 Cameo common shares or 3 percent of the issued and outstanding common shares of Metallica to the company upon execution of the Agreement; (1,380,000 shares issued)
  • paying the company $50,000 in cash and issuing the greater of 1,000,000 Metallica common shares or 2 percent of the then issued and outstanding common shares of Metallica to the company and incurring a minimum of $200,000 in qualified exploration expenditures on or before the first anniversary of the effective date of the Agreement; and,
  • paying the company $50,000 in cash and issuing the greater of 1,000,000 Metallica common shares or 1.5 percent of the then issued and outstanding common shares of Metallica to the Company and having completed a further $200,000 in qualified exploration expenditures on or before the second anniversary of the effective date of the Agreement.

Metallica, at its election, may then provide the company with the notice that it intends to earn an additional 30 percent interest (taking its interest to 100 percent, subject to underlying NSRs) in the Project by:

  • paying the company $50,000 cash and issuing 2,000,000 Cameo common shares to the company and completing further $400,000 in qualified exploration expenditures on the project
  • in the event that Metallica completes a resource calculation for the project in accordance with NI 43-101, Metallica will issue to the company 1,000,000 common shares.

Drilling highlights include 5.36 g/t gold over 20m at the Starr zone and 32.0 g/t at the Powel zone.

Panama Lake Gold Project

The Panama Lake gold project is hosted in the prolific Red Lake Mining District and stands 55 km northeast of Ear Falls Township. The property has a limited exploration history with minimal drilling conducted by Noranda Exploration in 1988. The drill campaign yielded results of up to 2.8 g/t gold grades over 4.5 m in a 20 to 30 m wide mineralized shear zone.

Benton’s primary focus is on the highly prospective Panama gold zone on the property. In 2018, a drill campaign opened seven new prospective drill holes for testing and mapping purposes. Indicated gold grades from an adjacent mineralized zone showed 6.17 g/t gold surface sampling with the potential for even higher grades with additional drilling.

Ongoing exploration for the project includes high-resolution heliborne magnetic surveying over the entire Panama project. Data from this program will help add additional exploration targets for further prospecting and potentially drilling.

On October 24, 2019, Benton entered into an option agreement with Maxtech Ventures (MVT), pursuant to which MVT will have the option to earn up to a 100 percent interest in Benton’s 100 percent owned Panama gold project. Under the terms of the Option Agreement, subject to regulatory approval, Maxtech will be required to complete the following:

  • Issue 2,000,000 Maxtech common shares to Benton on signing at an underlying price of C$0.05 per share;
  • Pay Benton C$100,000 in cash or share equivalent on the first anniversary, based upon a 10 day VWAP at the time of the share issuance and complete C$200,000 in exploration expenditures on the project;
  • Pay Benton C$100,000 in cash or share equivalent on the second anniversary, based upon a 10 day VWAP at the time of the share issuance and complete C$250,000 in exploration expenditures on the project at which point a 50 percent ownership interest will vest to MVT;
  • Pay Benton C$100,000 in cash or share equivalent on the third anniversary, based upon a 10 day VWAP at the time of the share issuance and complete C$250,000 in exploration expenditures on the project at which point a 70 percent ownership interest will vest to MVT; and
  • Pay Benton C$300,000 in cash or share equivalent on the fourth anniversary, based upon a 10 day VWAP at the time of the share issuance and complete C$300,000 in exploration expenditures on the project at which point a 100 percent ownership interest will vest to MVT.

The Option Agreement contains a 2 km area of influence clause that covers the project’s claim boundary. Benton will retain a 2 percent NSR on the project with MVT having the option to buy back 1 percent for C$1 million. In addition, MVT will issue to Benton an additional 1 million MVT common shares upon completion of its initial NI 43-101 compliant resource calculation as defined in the Option Agreement. Should Maxtech earn a 50 percent interest but elect to earn no additional interest, a 50 percent MVT-50 percent Benton joint venture would then be formed. Alternatively, should Maxtech earn a 70 percent interest in the project but not elect to earn any further interest, a 70 percent MVT and 30 percent Benton joint venture would then be formed according to the terms of the Option Agreement.

Staghorn Gold Project

The Staghorn gold project is in proximity to Marathon Gold’s flagship Newfoundland project and is being advanced by Quadro Resources. Benton currently has 4.2 million shares of Quadro Resources.

The property has 160 claim units covering 4,000 hectares. With fieldwork already underway, Quadro has the potential to expand exploration efforts on the three recently identified gold-rich systems, which require follow-up drilling. In December 2020, the latest drill campaign totaled 1,696 m with 13 completed drill holes. The exciting discovery of a new gold zone at Marks Pond saw 3.22 g/t gold over 5 m.

Quadro commenced follow-up drilling in February 2021, emphasizing the Marks Pond area. Soil anomalies and ideal winter mining conditions make this next step in exploring the Staghorn project a very promising one.

Iron Duke Gold Project

The Iron Duke gold project is located 20 km east of the past-producing Mattabi/Sturgeon Lake base metal deposits and 30 km south of the past-producing St. Anthony gold mine in Northwestern Ontario. Benton has 100 percent interest in the project via staking.

The property hosts limited exploration history and comprises 47 units in three claims. Past property owners have engaged in some diamond drilling and base metal exploration with reported grades of 0.19 g/t gold at 11.8 m and 1.07 g/t gold at 0.5 m.

The property’s widespread anomalous gold values and potentially unique iron formation horizon merit picking up exploration efforts from past property ownership. The company expects drilling commencement in August 2021 to test previously obtained high-grade trenching sample results.

Company Highlights

  • Over C$11 million in equities inside the company and about C$2.5 million in cash.
  • Over 33 million combined shares in established and high-quality mining companies throughout North America. These companies include Clean Air Metals, Quadro Resources, Sokoman Minerals, Metallica Metals and Maxtech Ventures.
  • Core assets for the company include the high-grade TBN and Escape Lake PGM projects, Panama gold project, Staghorn gold project, Bark Lake and Baril Lake PGM projects, Far Lake copper-gold-silver project and Iron Duke gold project. Benton holds large equity positions with respective project operators/companies.
  • The company’s high-profile management team primes it for exceptional growth and economic success. The relationships built from the world-class team has allowed Benton discovery exposure to numerous prospective precious metal projects and first-mover opportunities.
  • Members of Benton management were awarded the PDAC Bill Dennis Award in 2007 and the NWOPA Discovery of the Year Award in 2000, 2015 and 2017.

Management Team

Stephen Stares — President & Director

Stephen Stares is a successful business entrepreneur with over 25 years of mineral exploration experience. His first seven years were spent with Noranda Exploration on such projects as the Hemlo gold mines, Eagle River gold deposit and the Geco and Mattabi base metal camps. The next 10 years of Stares’ career were spent managing Stares Contracting Corp’s operations, a successful mineral exploration services company in Thunder Bay, Ontario.

Since founding the company in 2004, Stares has been president of Benton Resources. He has been directly involved in the start-up of 10 publicly traded companies on the TSX Venture Exchange by assembling projects of merit and raising millions of dollars for these junior exploration companies. Throughout his career, Stares has discovered several major mineral occurrences in Canada that have been the subject of extensive exploration programs.

In March of 2007, Stephen and Michael Stares, along with the rest of the Stares/Keats family, were the proud recipients of the Prospectors and Developers Association (PDAC) Bill Dennis Prospector of the Year Award. This award was given to recognize the family’s contributions to the industry for the past 40 years.

Evan Asselstine, CPA, CA — CFO

Evan Asselstine received his Honours Bachelor of Commerce Degree from Lakehead University and is a member of the Institute of Chartered Professional Accountants of Ontario. Asselstine has been the CFO of Benton Resources Inc. since its inception in 2012. Prior, he has been the controller and then CFO for Alset Energy Corp. (formerly Benton Capital Corp.) and has served as controller for Metals Creek Resources Corp., a public exploration company, since its inception in January 2008. Prior, Asselstine spent over four years in finance positions in private industry, including over two years as controller for a private land development firm and over seven years working in public accounting, and obtained his Chartered Accountant designation with Ernst & Young LLP in 2002.

Nathan Sims, P.GEO — Senior Exploration Manager

Nathan Sims has filled various technical roles at Benton since 2006. A graduate of Lakehead University (HBSc) and Sir Sandford Fleming College (GIS-AS), Sims is the Qualified Person for Benton’s disclosure requirements and is a current member of both the Association of Professional Geoscientists of Ontario (#2009) and the Professional Engineers and Geoscientists Newfoundland & Labrador (#9409).

Benton Amends Far Lake Agreement with Thunder Gold Corp.

Benton Amends Far Lake Agreement with Thunder Gold Corp.

Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that it has amended its agreement with Thunder Gold Corp. (formerly White Metal Resources Corp.) ("TGOL") (the "Amending Agreement") regarding the Far Lake project (the "Property") located 80km west of Thunder Bay, Ontario (see the Company's May 20, 2020 news release for details on the original agreement).

Pursuant to the Amending Agreement, the Company may exercise the Initial Option, earning a 60% interest in the Property by paying $25,000 and issuing 200,000 shares to TGOL (originally $30,000 and 400,000 shares). By July 15, 2022. The Second Option in the original agreement has been eliminated such that the Company is limited to earning a 60% in the Property.

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Benton and Sokoman Report Final Results from Recon Drilling at the Kraken Pegmatite Field - Golden Hope Project, SW Newfoundland

Benton and Sokoman Report Final Results from Recon Drilling at the Kraken Pegmatite Field - Golden Hope Project, SW Newfoundland

Li mineralization (spodumene) drilled to a vertical depth of 70 m at the Discovery Dyke; spodumene-bearing dykes, up to 22-m wide, located 600 m to the East of the Discovery Dyke

Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") together, (the "Alliance") are pleased to report the final assay results from the 1,025-m reconnaissance drilling program carried out this past winter and report on recent trenching from the Kraken Pegmatite Field on the Golden Hope Joint Venture Property in southwest Newfoundland.

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Sokoman & Benton Commence Drilling at Grey River

Sokoman & Benton Commence Drilling at Grey River

Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman") and Benton Resources Inc. (TSXV:BEX) ("Benton") and, together (the "Alliance")today announced that the Alliance has initiated drilling on the Grey River Gold Project, located in southern Newfoundland. In addition, the Alliance has nearly completed the camp construction at the Kraken Lithium discovery, located in southwest Newfoundland near the village of Burgeo, and the drill rig is on-site ready to start drilling

At the Grey RiverGold Project, the first two holes have been completed and are being logged, cut and sampled for gold analysis. This current campaign will include a planned 20-hole program to follow up on the successful five-hole 2021 program that saw significant gold mineralization intersected in all holes spread over a five km strike length (See March 16, 2022 press release). The first three holes will be 25 m to 50 m step-out holes centered around GR-21-01, the furthest hole to the east which intersected three parallel zones of gold mineralization including 1.80 m of 10.58 g/t Au.) The fourth hole will be drilled one km east of GR-21-01 to test a new 1.0 g/t Au surface sample collected in the early summer of this year. The mineralization on the Grey River property is associated with large zones of silica associated with disseminated and stringer pyrite (from 2% - 20% pyrite) within the >10 km-long quartz/silica body. In addition, the Alliance is also looking at various technologies for more precise targeting of high-grade mineralization along the large structural zone which will be ongoing as drilling is complete. Further prospecting and mapping will be conducted to assist with drill targeting.

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Benton Advised that Clean Air Metals Reports Drill Results and Corporate Update Including Project Payment and Prefeasibility Kickoff around Metallurgical Optimization

Benton Advised that Clean Air Metals Reports Drill Results and Corporate Update Including Project Payment and Prefeasibility Kickoff around Metallurgical Optimization

Benton Resources Inc. (TSXV: BEX) ("Benton") is pleased to report that Clean Air Metals Inc. ("Clean Air"), of which Benton has a substantial shareholding, has announced new assay results from the 2022 drill campaign from the Escape PGE-Cu-Ni Deposit at the Company's Thunder Bay North Project near Thunder Bay, Ontario, Canada (the "Project").

As reported by Clean Air, highlights from the Escape South deposit area includes:

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Benton Resources Invites You to Join Us at the Vancouver Resource Investment Conference

Benton Resources Invites You to Join Us at the Vancouver Resource Investment Conference

Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') would like to cordially invite you to visit us at Booth #823 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday May 17 - Wednesday May 18, 2022.

Former Prime Minister of Canada Stephen Harper and Former President of Mexico Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. VRIC will host more than 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on May 17th and 18th, 2022.

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Tartisan Nickel Corp.: Environmental Baseline Studies Enter Second Phase at the Kenbridge Nickel Project, Northwestern Ontario

Tartisan Nickel Corp.: Environmental Baseline Studies Enter Second Phase at the Kenbridge Nickel Project, Northwestern Ontario

Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) ("Tartisan", or the "Company") is pleased to announce that the initial environmental baseline studies have concluded, and that "Phase 2" environmental baseline studies have commenced at the Kenbridge Nickel Project, Kenora Mining District, Northwestern Ontario.

Tartisan had previously announced that Knight Piesold Consulting ("KP") and Blue Heron Environmental ("BH") have been retained to carry out these various time sensitive environmental baseline studies (SEDAR). Environmental baseline studies are critical in the permitting and approvals process and overall advancement of the Kenbridge Nickel Project. The Company is taking the necessary steps to advance the Kenbridge Nickel Project with the goal of nickel-copper production in approximately three years.

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Fabled Surface Sampling on Bronson Copper Occurrences Reports 23.10% Copper and 36.50 g/t Silver

Fabled Surface Sampling on Bronson Copper Occurrences Reports 23.10% Copper and 36.50 g/t Silver

Fabled Copper Corp. ("Fabled Copper" or the "Company") (CSE:FABL; FSE:XZ7) announces additional results of 2021 surface field work on its Muskwa Copper Project. See Figure 1 below

Figure 1 - General Property Location

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NOVA ROYALTY TO HOST VIRTUAL INVESTOR DAY ON SEPTEMBER 27, 2022

NOVA ROYALTY TO HOST VIRTUAL INVESTOR DAY ON SEPTEMBER 27, 2022

TSXV: NOVR
OTCQB: NOVRF

Nova Royalty Corp. (" Nova " or the " Company ") is pleased to announce that it will be hosting a virtual Investor Day on September 27, 2022 .

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Opawica Drills 18.7 G/T AU, 13.70 G/T AU, and 12.7 G/T AU at Bazooka

Opawica Drills 18.7 G/T AU, 13.70 G/T AU, and 12.7 G/T AU at Bazooka

(TheNewswire)

Opawica Explorations Inc.

Vancouver, B.C. TheNewswire - August 15, 2022 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica")  is pleased to announce the positive drill results on its wholly owned Bazooka Property.

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Midnight Sun Commences Drilling at Solwezi

Midnight Sun Commences Drilling at Solwezi

Midnight Sun Mining Corp. (TSXV: MMA) (OTCQB: MDNGF) (the "Company" or "Midnight Sun") is pleased to report all preparations have been completed and drilling has commenced on the Company's Solwezi Licences in Zambia.

Highlights

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C3 Metals Appoints Dan Symons President, CEO and Director

C3 Metals Appoints Dan Symons President, CEO and Director

C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) ("C3 Metals" or the "Company") is pleased to announce the appointment of Dan Symons to the position of President and Chief Executive Officer of the Company effective September 6, 2022. Simultaneous with this appointment Mr. Symons will also join C3 Metals' Board as a Director.

Dan Symons brings over 15 years of mining industry related experience in business development, corporate development and investor relations with a number of highly successful junior-mid tier growth companies. Mr. Symons joins C3 Metals from Argonaut Gold where he most recently held the position of Vice President - Corporate Development and Investor Relations. Prior to this he was a key member of the Romarco Minerals Inc. executive management team in the role of Vice President, Business Development and Investor Relations. Mr. Symons has been actively involved in multiple M&A transactions totalling over $800 million and equity and debt financings totalling over $650 million and $500 million, respectively. Mr. Symons commenced his career with Renmark Financial Communications, a leading North American IR firm, and is an active member of the Canadian Investor Relations Institute. Mr. Symons holds an Honours B.A. from Concordia University in Montreal.

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