Oct 6 2014
Benton Resources Inc. ("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