Benton Resources Corp.
TSX VENTURE : BTC

Benton Resources Corp.

September 26, 2007 15:40 ET

Benton Resources Corp. Announces C$10,001,000 "Bought Deal" Financing

TORONTO, ONTARIO--(Marketwire - Sept. 26, 2007) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Benton Resources Corp. (BTC) (TSX VENTURE:BTC) is pleased to announce that it has entered into an agreement with Westwind Partners Inc. as lead underwriter on behalf of a syndicate of underwriters (collectively, the "Underwriters") to purchase, on a bought deal private placement basis, 1,380,000 Flow Through Shares of the Company at a price of C$1.45 per Flow Through Share and 6,400,000 Units of the Company at a price of C$1.25 per Unit, for aggregate gross proceeds of C$10,001,000. The securities issuable under the private placement are subject to a four month hold period from the closing date.

Each Unit will consist of one common share and one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of Benton Resources Corp. at a price of C$1.60 for 18 months from the closing date.

The Underwriters will have the option to sell up to an additional 280,000 Flow Through Shares at the issue price per Flow Through Share and up to an additional 1,280,000 Units at the issue price per Unit for a period of up to two days prior to closing for additional gross proceeds of up to C$2,006,000. Benton Resources Corp. plans to use the net proceeds from the sale of the Units for exploration and general corporate purposes. The proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2007 taxation year.

The Underwriters shall receive compensation comprised of cash and broker warrants upon closing of the offering.

The offering is scheduled to close on or about October 16, 2007 (in respect of the Units) and October 16, 2007 (in respect of the Flow Through Shares) is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange. The securities to be issued under this offering will be offered by way of private placement exemptions in all the provinces of Canada, offshore including in the United Kingdom pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

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