Benton Arranges $1.7M Private Placement with Plans to Resume Drilling at Great Burnt

Rhea-AI Summary

Benton Resources (TSXV: BEX) has arranged a non-brokered private placement to raise up to $1.7 million through the issuance of up to 30,909,091 units at $0.055 per unit. Each unit includes one common share and one warrant, with warrants exercisable at $0.10 for 5 years.

The company plans to use the proceeds to advance its Newfoundland projects and for working capital. Notably, Benton intends to resume drilling this week to expand both South Pond and the Great Burnt Deposit, targeting multiple high-priority locations identified in their September 9, 2025 release.

Positive

• None.

Negative

• Significant dilution with 30.9M new units being issued
• Financing subject to TSX Venture Exchange approval
• Four-month hold period on issued securities

Thunder Bay, Ontario--(Newsfile Corp. - September 17, 2025) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that it has arranged, subject to TSX-V approval, a non-brokered private placement financing (the "Financing") on a best-efforts basis for gross proceeds of up to $1.7M. The Company intends to issue up to 30,909,091 units at a price of $0.055 per unit, each unit consisting of one common share of the Company and one common share purchase warrant, each warrant entitling the holder to acquire an additional common share of the Company at $0.10 for a period of 5 years from the date of issue. The Company will use the proceeds from the private placement to advance its Newfoundland projects and for general working capital purposes.

The Financing is subject to TSX Venture Exchange approval and all securities issued pursuant to the Financing will be subject to a four-month hold from the date of issue.

Benton intends to resume drilling this week, with plans to expand both South Pond and the Great Burnt Deposit. Benton has identified multiple high priority drill targets on the project (see Company news release dated September 9, 2025) and will aim to test several of these targets in the upcoming drill campaign.

QP

Stephen House (P.Geo.), Vice President of Exploration for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.

About Benton Resources Inc.

Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.

Benton is focused on advancing its high-grade Copper-Gold Great Burnt Project in central Newfoundland, which has a Mineral Resource estimate of 667,000 tonnes @ 3.21% Cu Indicated and 482,000 @ 2.35% Cu Inferred. The Project has an excellent geological setting covering 25km of strike and boasts six known Cu-Au-Ag zones over 15km that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil anomalies. Phase 1 and 2 drill programs returned impressive results including 25.42 m of 5.51% Cu, including 9.78 m of 8.31% Cu, and 1.00 m of 12.70% Cu. Drilling at the South Pond Gold Zone, approximately 7.5 km north of the Great Burnt Copper-Gold Zone, has confirmed a robust gold-mineralized system over 2.5 km with results of 74.20 m of 1.43g/t Au and 43.75 m of 1.62g/t Au and is open for expansion in all directions.

On behalf of the Board of Directors of Benton Resources Inc.,

"Stephen Stares"

Stephen Stares, President

Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.

For further information, please contact:

Stephen Stares, President & CEO
Phone: 807-474-9020
Email: sstares@bentonresources.ca

Nick Konkin, Investor Relations
Phone: 647-249-9298 ext. 322
Email: nick@grovecorp.ca

Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266807

FAQ

What is the size and terms of Benton Resources' (TSXV: BEX) private placement announced on September 17, 2025?

Benton Resources announced a $1.7 million private placement, offering units at $0.055 each, with each unit containing one common share and one warrant exercisable at $0.10 for 5 years.

How will Benton Resources use the proceeds from the $1.7M private placement?

The proceeds will be used to advance Benton's Newfoundland projects and for general working capital purposes.

What are Benton Resources' immediate drilling plans following the financing?

Benton plans to resume drilling this week to expand both South Pond and the Great Burnt Deposit, targeting multiple high-priority locations.

What are the key terms of the warrants in Benton Resources' private placement?

Each warrant entitles holders to acquire one additional common share at $0.10 per share for a period of 5 years from the date of issue.

What regulatory requirements apply to Benton Resources' private placement securities?

The financing requires TSX Venture Exchange approval, and all securities will have a four-month hold period from the date of issue.