THUNDER BAY, ONTARIO--(Marketwired - March 27, 2017) - Benton Resources Inc. (TSX VENTURE:BEX) ("Benton" or "the Company") is pleased to announce that the Company has acquired through staking, a 100% interest in the Bold cobalt-copper-nickel project located 50km NE of Mine Centre, Ontario. The Project is easily accessible by new logging roads throughout the area.
Subsequent to staking the four separate claim blocks that compose the project, Benton entered into a option agreement with ASX-listed Ardiden Limited (ASX:ADV) whereby Ardiden can acquire 100% interest by paying Benton $10,000 cash and 200,000 shares. Benton will retain a 2% Net Smelter Royalty which 1% can be purchased by Ardiden for $500,000.
The four Bold Property claim blocks have multiple historic copper, nickel and cobalt occurrences which were originally discovered in the 1992 by Hexagon Gold (Ontario) Ltd ("Hexagon"). Hexagon discovered a number of sulphide zones and completed a limited broad space reconnaissance drill and sampling program which confirmed the potential for copper, nickel and cobalt mineralization. The 1992 grab sampling program reported grades from trace up to 5.54% Copper, 0.73% Nickel and 0.33% Cobalt which confirms significant exploration potential.
The option agreement on the Bold project adds great investment upside (shares and royalty) for one of Benton's non-core projects.
In addition Benton would like to announce it has multiple other high quality projects available for option and Joint Venture. The projects can be viewed on Benton's website listed below and interested parties are encouraged to contact Benton for further information.
About Benton Resources Inc. (TSX VENTURE:BEX)
Benton Resources Inc is a well-funded Canadian-based junior with 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 has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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