Benton Capital provides corporate update
September 05 2012 - 9:00AM
PR Newswire (Canada)
TSX-V: BEX THUNDER BAY, ON, Sept. 5, 2012 /CNW/ - Benton Capital
Corp. is pleased to announce the following corporate update for its
shareholders. Benton Capital Corp. ("Benton" or the "Company")
holds approximately 57.87 million shares in Coro Mining Corp.
("Coro") which constitutes approximately 41.84% of Coro's issued
capital. Coro is a Vancouver based copper exploration company with
early stage and advanced projects located in South America. Based
on its holdings of Coro, the shares of Benton currently trade at a
significant discount relative to the capitalized value of Coro's
issued shares. Accordingly management of the Company would like to
provide a summary of both Coro's and the Company's assets and near
term plans: 1. Benton market capitalization of approximately $7.6
million based on a $0.10 trading price per share; 2. Current value
of Coro holdings (57.8 million shares) of approximately $17.4
million based on current trading price of Coro; 3. Coro's Berta
project located near large producers with excellent infrastructure;
4. Approximately $730,000 cash in Benton's treasury with an
extremely low burn rate; 5. Coro currently completing a resource
estimate on its Berta copper project in Chile; 6. Coro currently
drilling on new high potential copper prospect at El Inca project
in Chile; 7. Coro currently negotiating EIS approval for San Jorge
copper/gold deposit in Argentina; 8. Benton currently planning work
program to advance the Goodchild Copper-Nickel-PGM project located
5km NE of Stillwater Mining's Marathon Copper-PGM deposit currently
being permitted for production Stephen Stares, Company President
and CEO commented "We are frustrated that the Company is trading at
such a large discount to its net asset value but we believe long
time shareholders will be rewarded as Coro advances their excellent
property portfolio in Chile and Argentina, the Company advances its
Goodchild property in Ontario and continues to evaluate other
opportunities to enhance shareholder value. In addition Benton has
granted 2.025 million stock options exercisable at $0.15 for a
period of 5 years to officers, directors, employees and consultants
of the Company. Clinton Barr (P.Geo.), V.P. Exploration for Benton
Capital Corp., is the qualified person responsible for this
release. On behalf of the Board of Directors of Benton Capital
Corp., "Stephen Stares" 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. Benton
Resources Corp. CONTACT: contact Stephen Stares @:3250 Highway
130,Rosslyn, ON P7K 0B1Phone (807)475-7474Fax
(807)475-7200www.bentonresources.caInvestor RelationsClair Calvert:
@ 204-799-2086
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