Benton Closes $1.9 Million Financing

Rhea-AI Summary

Benton Resources (BNTRF) closed a $1,980,010 private placement on October 16, 2025 by issuing 36,000,182 Units at $0.055 each. Each Unit includes one common share and one warrant exercisable at $0.10 for 5 years. Proceeds will be used to advance the company’s Newfoundland projects and for general working capital. No finders' fees were paid. All securities are subject to a four-month hold. Stephen House, P.Geo., approved the scientific and technical disclosure under NI 43-101.

Positive

• $1.98M gross proceeds closed
• Proceeds earmarked to advance Newfoundland projects
• No finders' fees paid on the financing

Negative

• Issued 36,000,182 new shares causing immediate dilution
• Issued 36,000,182 warrants exercisable for 5 years, creating potential future dilution
• All securities subject to a four-month hold before trading

Thunder Bay, Ontario--(Newsfile Corp. - October 16, 2025) - Benton Resources Inc., (TSXV: BEX) ("Benton" or the "Company") Further to its September 17, 2025, September 23, 2025, September 29, 2025, and October 8, 2025 news releases, is pleased to announce that it has closed its $0.055 Unit private placement financing (the "Financing") for aggregate gross proceeds of $1,980,010.

The Company has issued 36,000,182 Units, each Unit consisting of one common share of the Company and one common share purchase warrant ("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. No finders' fees have been paid in connection with this Financing.

The Company will use the proceeds from the private placement to advance its Newfoundland projects and for general working capital purposes.

All securities issued pursuant to the Financing are subject to a four-month hold from the date of issue.

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/270790

FAQ

How much did Benton (BNTRF) raise in the October 16, 2025 financing?

Benton raised $1,980,010 through a $0.055 Unit private placement.

How many Units and warrants were issued by Benton (BNTRF) on October 16, 2025?

The company issued 36,000,182 Units, each including one share and one warrant.

What is the warrant exercise price and term for Benton (BNTRF) warrants from the financing?

Each warrant is exercisable at $0.10 for a period of 5 years from issue.

What will Benton (BNTRF) use the $1.98M financing for?

Proceeds will be used to advance Newfoundland projects and for general working capital.

Are there trading restrictions on securities issued by Benton (BNTRF) in this financing?

Yes, all securities issued are subject to a four-month hold from the date of issue.

What is the potential additional cash Benton (BNTRF) could raise if all warrants are exercised?

If all 36,000,182 warrants are exercised at $0.10, the company could receive up to $3,600,018.20 in additional proceeds.