Benton Resources Inc.

Benton Resources Inc.

August 06, 2014 12:01 ET

Benton Announces Commencement of Airborne at Mealy Lake Cu-Ni-PGM Project and Provides Cape Ray Update

THUNDER BAY, ONTARIO--(Marketwired - Aug. 6, 2014) - Benton Resources Inc. (TSX VENTURE:BEX) ("Benton" or "the Company") would like to announce that its joint venture partner Platinum Group Metals Ltd. ("PTM") has commenced a VTEM geophysical airborne survey on the Mealy Lake Copper-Nickel-PGM property located in southwestern Labrador. Completion and interpretation of the airborne survey and ground follow up of any identified anomalies is anticipated to be completed by the end of September. The Mealy Project is contiguous and within the same mafic complex as Altius Minerals Corp.'s ("Altius") Natashquan property located approximately 140 kilometres southwest of Churchill Falls in Labrador. Altius previously announced their new Natashquan property Ni-Cu-Co-PGE discovery which they subsequently joint ventured to Anglo American ("Anglo"). Exploration highlights from Altius' Nastashquan discovery include; "2.68g/t combined Pt, Pd and Au (grab) - 6.14% Cu and 388ppb Pt - 1.04g/t combined Pt, Pd, Au and 1.06% Cu over 1.30m (channel) - 1.04 combined Pt, Pd, Au and 3.92% Cu over 1.00m (channel) - 2.49g/t combined Pt, Pd and Au and 1.07% Ni (grab) - several grab samples >7% Cu - soil samples up to 26,000ppm Cu". (

Under terms of the agreement PTM can earn a 71% interest in Benton's Mealy Project by spending $2.4 million in exploration within 4 years (see Benton press release dated August 16, 2013) at which point a joint venture will be formed between the Company and PTM. Benton will retain a 1% NSR on the project and PTM will be the operator of the project while it holds a majority interest.

In addition to the start of the airborne the company would like to update its shareholders on the current status of the Cape Ray Project. Approximately 60 percent of the planned diamond drill program has been completed with cut core sections having been sent to Eastern Analytical in Sprindale, Newfoundland for precious and base metal analysis. Results will be released as they become available. The current drill program consists of approximately 2000 metres of drilling designed to test not only the immediate western extension of the 51 Deposit but also the exploration potential of this mineralized horizon with coincident induced polarization geophysical and gold in geochemical (rock and soil) anomalies further to the west along with the west strike extent of the PW zone and a few holes within the 51 Deposit may be duplicated in the attempt to achieve better recovers of the mineralized zone and test the expansion potential between the deposits.

About Benton Resources Inc. (TSX VENTURE:BEX)

Benton Resources Inc is a Canadian-based junior with a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements. The Company is well funded with approximately $6.5 million in cash and $0.9 million in marketable securities.

Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release.

On behalf of the Board of Directors of Benton Resources Inc.,

Stephen Stares, President


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

Contact Information