Benton Acquires 100% Interest in High Grade Gold Project
April 18 2011 - 5:09PM
Marketwired
Benton Resources Corp. (TSX VENTURE: BTC) ("Benton" or "the
Company") is pleased to announce that the Company has acquired by
staking a 100% interest in the Abernethy gold project located 10km
southwest of Kenora, Ontario. The property consists of 9 claims
totaling 67 units and covers a historically defined 640 metre long
and up to 210 metre wide electromagnetic conductor outlined by
Hudson Bay Exploration and Development Co. Ltd in 1974. The anomaly
was tested by Hudson Bay with a single drill hole and intersected
anomalous gold throughout the hole including one section that
returned 17.8 gpt gold over 1.52 metres. Subsequently in 1987 the
project was acquired by Mingold Resources Inc. who further tested
the same zone with two diamond drill holes spaced at 61 metres
apart. This drilling also intersected significant anomalous gold
throughout both drill holes including 6.30 gpt gold over 6.1 metres
in drill hole ABE-1 and 1.62 gpt gold over 6.7 metres (including
10.0 gpt gold over 0.61 metres) in drill hole ABE-3. Research of
historical assessment work filed with the provincial government
indicate there are only three historical drill holes in the
electromagnetic conductor suggesting the zone is open at depth and
along strike in both directions. Recent forestry logging operations
have opened access to several areas within the claim group
providing good infrastructure. Benton is planning to commence work
on the project as soon as conditions permit.
The Company would also like to announce the granting of
incentive stock options to certain directors, officers, employees
and consultants of the Company to purchase a total of 3,270,000
common shares in the capital stock of the Company. The options are
exercisable for a period of five years from the date of April 14,
2011 at an exercise price of $1.12 per share.
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
$15.5 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). Benton is currently in the process of spinning out
the majority of its assets by a plan of arrangement into a new
listed company in order to separate its 41.6% investment in Coro
Mining from its cash, equities and exploration assets. Benton
shareholders will receive a pro-rata interest in this new company
at a ratio as yet to be determined and pursuant to regulatory
approval.
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 Clair Calvert Investor
Relations 204-799-2086