Benton Resources Inc.

Benton Resources Inc.

October 03, 2014 14:21 ET

Benton Completes Acquisition of Cape Ray and Resumes Drilling

THUNDER BAY, ONTARIO--(Marketwired - Oct. 3, 2014) - Benton Resources Inc. (TSX VENTURE:BEX) ("Benton" or "the Company") is pleased to announce that it has made the final payment of 1.5 million common shares to Tenacity Gold Mining Company Ltd. which completes the terms of the agreement to acquire a 100% interest in four mining claims encompassing the 04, 41, Isles Aux Mort and Big Pond Gold deposits (see Benton PR dated October 8, 2013). These claims are in addition to the Windowglass Hill and 51 Deposit that Benton acquired in 2013 from Cornerstone Capital Resources, and together, these six deposits make up the Cape Ray Property located in southwest Newfoundland and are subject to various net smelter return royalties from the underlying agreements.

In addition, the Company would like to announce that diamond drilling at Cape Ray has resumed. Assay results for several holes from the first portion of the drill program are still pending and will be released as soon as they received and compiled.

Stephen Stares, Company President and CEO commented, "We are very pleased to complete our acquisition of the Cape Ray deposits and consolidate our land position. Benton is committed to advancing the Cape Ray project to development and in addition will continue to explore the project outside the known deposits in order to identify the potential for additional resources."

Benton now controls a 100% interest in 60km of strike length along the Cape Ray Fault, a significant regional gold-bearing structure that hosts the Cape Ray deposits as well as Marathon Gold's Valentine Lake deposit located 120 km to the northeast of Benton's claim block.

About Benton Resources Inc. (TSX VENTURE:BEX)

Benton Resources Inc is a well funded listed Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements.

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

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