Benton Advised by Coro Mining of Completion of San Jorge Public Hearing in Argentina
October 28 2010 - 2:11PM
Marketwired
Benton Resources Corp. ("Benton" or "the Company") (TSX VENTURE:
BTC) ("Benton" or "the Company") is pleased to announce that they
have been advised by Coro Mining Corp. (TSX: COP) ("Coro") that the
Public Hearing to consider Coro's San Jorge project Environmental
Impact Study ("EIS") was held on October 26th 2010 in Uspallata,
the nearest town to the project. The Public Hearing was the final
step in the consultation process prior to the EIS being submitted
to the Provincial Government for approval, and if approved,
presented to the Provincial House of Deputies and Senate for
ratification. Benton currently holds 38.1 million shares and 19.1
million warrants of Coro.
Alan Stephens, President and CEO of Coro commented, "We are very
pleased that the Public Hearing has been completed on schedule. It
was attended by more than 2000 individuals and gave the people of
Mendoza, and particularly the residents of Uspallata, the
opportunity to express their views about the development of San
Jorge. It was held in an atmosphere of complete calm, civility and
respect to opposing opinions. We would like to express our sincere
appreciation to the Provincial Government for the exemplary manner
in which the Hearing was organized and conducted. Having now
completed all of the steps required of it under the EIS approval
process, the Company looks forward to the Government's
decision."
Coro is fully committed to developing San Jorge in such a way
that no water resources would be affected by contamination, as
required by local and national laws and regulations, and by
international best practices. The Company, through its subsidiary,
Minera San Jorge, continues to follow a policy of complete
transparency and frankness, and has stressed the economic and
employment benefits of the project to Argentina, as well as a
commitment to exacting industry standards in environmental
management, and has invited citizen participation in the
environmental monitoring of the operation. The Company has
demonstrated its commitment to water conservation through the
proposed use of paste tailings, which minimizes water usage through
recycling. It has committed to train as many local residents as
possible for employment in the future operations at San Jorge.
Stephen Stares, President and CEO of Benton stated, "We would
like to congratulate the Coro team for their hard work in preparing
for this very important step in the EIS approval process and for
their professionalism and transparency throughout the process in
working towards developing San Jorge in a responsible manner. We
look forward to the Government's decision and the future of San
Jorge."
About San Jorge:
The San Jorge copper-gold project is located in Mendoza,
Argentina. Coro completed an independent Preliminary Economic
Assessment ("PEA"), in April 2008 which contemplated production of
39,500 tonnes of copper per annum and 39,000 ounces of gold per
annum over a 16 year mine life. The deposit remains open to the
west and at depth and using a $2.00 per pound copper and $600 per
ounce gold price returned an after tax NPV of $220 million, with
capital expenditures of $277 million.
Benton is a Canadian based junior with multiple joint ventures
and a diversified property portfolio in Gold, Nickel, Copper, and
Platinum group elements. The Company currently has approximately $7
million in cash, owns 38.1 million shares and 19.1 million warrants
in Coro Mining Corp. (TSX: COP), holds 1.56 million shares in
Marathon PGM Corp (TSX: MAR), holds 1.6 million shares in Puget
Ventures (TSX VENTURE: PVS), holds 815,000 Bell Copper Corp. (TSX
VENTURE: BCU) and retains a 2% Net Smelter Royalty on the northern
portion of the Marathon PGM deposit. The company is also in the
process spinning out its 100% Bermuda property to its shareholders
into a new company to be named Coldwell Copper Corp.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources
Corp., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources
Corp.
Stephen Stares, President
Forward-looking statements in this release are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Benton Resources Corp. Stephen Stares (807)475-7474
(807)475-7200 (FAX) www.bentonresources.ca Investor Relations Clair
Calvert 204-799-2086