Benton and Metals Creek Acquire Mineral Licenses in Deer Lake Basin

Benton Resources Inc and Metals Creek Resources Corp have jointly acquired an interest in two mineral licenses in the Deer Lake Basin and Parsons Pond areas, subject to a 2% net smelter royalty (NSR) to G2B Gold. The acquisition, approved by the TSX Venture Exchange, marks a significant step for both companies in their ongoing exploration efforts.

Benton and Metals Creek, which are non-arm's length, acquired 100% of G2B's interest in the properties, with each company holding 50% ownership. The transaction was completed in exchange for the issuance of 120,000 common shares of Metals Creek and 82,500 common shares of Benton. Additionally, Benton acquired a 100% interest in one mineral license, 040650M, consisting of two claim units, by issuing 17,500 common shares to G2B. G2B retains a 2% NSR on this property, with Benton having the option to purchase 50% of the NSR for $1 million.

The newly acquired properties are strategically located in the Deer Lake Basin and Parsons Pond area, directly adjacent to Benton's Dominion Copper-Gold-Zinc project. This acquisition is expected to enhance the company's exploration potential in the region, offering new opportunities for mineral discovery and development.

Benton Resources Inc, a well-financed mineral exploration company, has diversified its property portfolio and continues to focus on advancing its projects in central Newfoundland. The company's President, Stephen Stares, expressed optimism about the acquisition, stating, "This is a strategic move that will significantly bolster our exploration efforts in the Deer Lake Basin and Parsons Pond area. We are excited about the potential for new discoveries and the expansion of our portfolio."

The acquisition also includes the option for Benton to purchase 50% of the NSR on the properties for $1 million. This provision provides flexibility for the company to manage its financial commitments while maintaining control over the exploration and development of the properties.

In a separate agreement, Benton has acquired a 100% interest in one mineral license, 040650M, by issuing 17,500 common shares to G2B. G2B retains a 2% NSR on this property, with Benton having the option to purchase 50% of the NSR for $1 million. This acquisition ties directly to Benton's Dominion Copper-Gold-Zinc project, located approximately 14 kilometers south of Buchans and 13 kilometers north of the Valentine Gold mine operated by Equinox Gold Corp.

The acquisition of these properties is part of Benton's broader strategy to advance its exploration projects and increase its mineral resource potential. The company remains focused on its Dominion Copper-Gold-Zinc project, Victoria West Gold Project, Stoney Caldera Copper-Gold Project, and its various Hydrogen-Helium projects on the west coast of Newfoundland.

This acquisition underscores Benton's commitment to expanding its mineral exploration portfolio and enhancing its position in the region. The strategic location of the acquired properties, in close proximity to existing mining operations, positions Benton to benefit from potential synergies and increased exploration opportunities.