Benton Resources Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") is pleased
to announce that it is initiating a process of separating its investment in Coro
Mining Corp. ("Coro") from substantially all of its other assets and activities.
It is anticipated that this will be implemented by a spin out of the majority of
Benton's projects, cash and equity investments (other than Coro) into a new
exploration company ("Newco"). After the spin out is completed Benton's assets
will consist of 55.4 million common shares of Coro (representing approximately
41.6% of the issued capital of Coro), 2.43 million share purchase warrants of
Coro exercisable at $0.50, one 43-101 compliant project and a cash balance in a
yet to be determined amount sufficient to maintain ongoing operations and
objectives. Benton's ongoing exploration activities will thereafter be carried
out through Newco.


Benton's current market capitalization is approximately $77 Million, which is
significantly below the market value of its equity holdings in other listed
companies. Moreover, the market is attributing no value to Benton's current cash
position of approximately $12.6 million or its extensive property portfolio and
joint ventures with companies such as Teck Resources and Rio Tinto Exploration.
This substantial disconnect between the underlying value of Benton's assets and
its stock market valuation has prompted Benton to propose the spin out to its
shareholders in order to maximize the value of its cash, equities and
exploration assets as well as to unlock the value of its holding in Coro. Benton
is currently working with its financial advisors Stifel Nicolaus Weisel and has
retained Canadian taxation advisors in order to determine a separation of the
Company's assets and share ratio for the spin out that achieves optimal tax
efficiency and fairness. This share ratio, which is expected to result in a
pro-rata distribution to Benton's shareholders, will be announced as soon as it
has been determined. The spin out transaction will be completed pursuant to a
plan of arrangement and remains subject to regulatory and shareholder approvals.


Stephen Stares, Company President and CEO commented "It is unfortunate that the
current share price is not reflecting the fair value of identifiable cash and
equity positions in Benton. Benton is an exploration company with strategic
properties in mining-friendly jurisdictions, many of which have joint venture
partners sharing the risk and expense associated with exploration. This
transaction will ideally unlock the value of our strong treasury and property
portfolio that our shareholders deserve". 


In addition Benton would like to provide an update on its current and ongoing
exploration programs. Drilling has commenced on Benton's Shebandowan Gold
project testing newly discovered gold showings associated with coincidental
induced polarization chargeability anomalies identified from a recently
completed geophysical survey. Gold values ranging from 0.05gpt to 13.0gpt have
been obtained from surface grab samples and 6-8 drill holes will test these
promising target areas. 


Benton has also started a drill campaign with its Australian joint venture
partner Glory Resources on its Onion Lake property located 40kms north of
Thunder Bay. The program is designed to test various magnetic anomalies in
search for copper-nickel-platinum-palladium mineralization similar to the recent
discovery made by Magma Metals several kilometres along strike to the east.


Drilling has also commenced on the Long Range joint venture project in west
central Newfoundland with joint venture partner Buchans Minerals Corporation.
Several holes are planned to test and follow up on the Portage Zone Ni-Cu zone
and the Range Cu zone discovered last year. The Company will release results of
these programs as soon as data is received and compiled.


About Benton

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 $12.6 million in cash, owns approximately
55.4 million shares and 2.43 million warrants in Coro Mining Corp. (TSX:COP),
holds approximately 348,000 shares of Stillwater Mining Company (NYSE:SWC),
holds 782,500 shares in Marathon Gold Corp. (TSX:MOZ), holds 1.6 million shares
in Puget Ventures (TSX VENTURE:PVS), holds 4 million shares of Mineral Mountain
Resources Ltd. (TSX VENTURE:MMV), and holds 815,000 shares of Bell Copper
Corporation (TSX VENTURE:BCU).


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.