Metals Creek and Benton Acquire Interest in Mineral Licenses in Deer Lake Basin

Metals Creek Resources Corp and Benton Resources Inc have jointly acquired an interest in two mineral licenses in the Deer Lake Basin and Parsons Pond area, 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 exploration efforts.

The properties, which encompass 50 claim units, include the Deer Lake Basin (20 units) and Parsons Pond (30 units). Each company will hold a 50% stake in the properties, with Metals Creek issuing 120,000 common shares and Benton issuing 82,500 common shares to G2B in exchange for the acquired interest. Additionally, the companies have the option to purchase one-half of the NSR for $1 million.

Metals Creek Resources Corp, based in Thunder Bay, Ontario, is a junior exploration company that has earned a 50% interest in the Ogden Gold Property, located south of Timmins, Ontario. The company has also jointly acquired potential natural white hydrogen projects in Newfoundland with Benton Resources Inc. The Smoking Gun Prospect, selected after research uncovered highly anomalous helium levels, is situated within the Deer Lake Basin, an area thought to be prospective for helium and natural hydrogen.

At Parsons Pond, historical drill logs from two holes, 14.2 km apart, have observed C1 methane gas levels reaching 72%. The area is underlain by thrust faulted rocks of the Humber Arm Supergroup, with unique sedimentary units composed of shales and sandstones containing fragments of serpentine and chrome. The presence of glauconite, combined with these geological indicators, suggests a highly prospective environment for the potential formation of white hydrogen. The high concentrations of methane alongside hydrogen indicators suggest a potentially active gas system within the basin. Surface areas within the project boundaries have also been noted to vent gas.

Alexander (Sandy) Stares, President and CEO of Metals Creek Resources Corp, expressed enthusiasm about the acquisition. "This joint venture with Benton Resources Inc is a strategic move that enhances our exploration efforts in the Deer Lake Basin and Parsons Pond area. The properties offer significant potential for both gold and natural resources, and we are excited about the opportunities they present."

The acquisition is part of Metals Creek's broader strategy to explore for a variety of mineral resources, including gold and natural hydrogen. The company's focus on innovative exploration techniques and partnerships underscores its commitment to advancing its exploration projects in Ontario and Newfoundland.