Benton Provides Update on Its Stake in Clean Air Metals Inc. - New PEA Delivers C$219.4M pre-tax NPV, 39% IRR for the Thunder Bay North Project
Benton (BNTRF) reports Clean Air Metals' new PEA for the Thunder Bay North project with a pre-tax NPV8 of C$219.4M and pre-tax IRR of 39% against a project capital cost of C$89.5M. After-tax NPV is C$157.5M and after-tax IRR is 32%. At spot prices the pre-tax NPV8 rises to C$316M with a pre-tax IRR of 52%.
The study designs a low-cost operation using temporary infrastructure and toll milling, with a 2.5-year capital payback and projected 45% operating margin. Updated resources: 14.9M t indicated @ 2.66 g/t 2PGE, 0.40% Cu, 0.24% Ni; plus 2.49M t inferred @ 1.62 g/t 2PGE. Benton holds 24.6M shares (9.8%) of Clean Air Metals and a 0.5% NSR on specified deposits.
Benton (BNTRF) riferisce la nuova PEA di Clean Air Metals per il progetto Thunder Bay North con un NPV8 ante imposte di C$219,4 milioni e IRR ante imposte del 39% rispetto a un costo di capitale del progetto di C$89,5 milioni. L'NPV post-imposte è C$157,5 milioni e l'IRR post-imposte è 32%. Alle attuali quotazioni l'NPV ante imposte a 8 anni sale a C$316 milioni con un IRR ante imposte del 52%.
Lo studio progetta un'operazione a basso costo usando infrastrutture temporanee e lavorazione a canale esterno, con un payback di capitale di 2,5 anni e un margine operativo previsto del 45%. Risorse aggiornate: 14,9 Mt indicated a 2,66 g/t 2PGE, 0,40% Cu, 0,24% Ni; oltre 2,49 Mt inferred a 1,62 g/t 2PGE. Benton detiene 24,6 milioni di azioni (9,8%) di Clean Air Metals e una royalty NSR dello 0,5% sui depositi specificati.
Benton (BNTRF) informa sobre la nueva PEA de Clean Air Metals para el proyecto Thunder Bay North con un VPN ante impuestos NPV8 de C$219,4 millones y un TIR ante impuestos del 39% respecto a un costo de capital del proyecto de C$89,5 millones. El NPV tras impuestos es C$157,5 millones y la TIR tras impuestos es 32%. A precios spot, el NPV ante impuestos a 8 años sube a C$316 millones con una TIR ante impuestos de 52%.
El estudio diseña una operación de bajo costo utilizando infraestructura temporal y procesamiento por toll milling, con un periodo de recuperación de capital de 2,5 años y un margen operativo del 45%. Recursos actualizados: 14,9 Mt indicated a 2,66 g/t 2PGE, 0,40% Cu, 0,24% Ni; además 2,49 Mt inferred a 1,62 g/t 2PGE. Benton posee 24,6 millones de acciones (9,8%) de Clean Air Metals y un NSR del 0,5% sobre los depósitos especificados.
Benton (BNTRF)가 Thunder Bay North 프로젝트에 대한 Clean Air Metals의 새로운 PEA를 보고합니다. 세전 NPV8는 C$219.4M이고 세전 IRR는 39%이며 프로젝트 자본비용은 C$89.5M입니다. 세후 NPV는 C$157.5M, 세후 IRR은 32%입니다. 현 가격에서 세전 NPV8은 8년 간 C$316M으로 상승하고 세전 IRR은 52%입니다.
본 연구는 임시 인프라와 톨 밀링(toll milling)을 활용한 저비용 운영을 설계하여 자본 회수 기간 2.5년과 영업 마진 45%를 제시합니다. 업데이트된 자원: 14.9Mt indicated at 2.66 g/t 2PGE, 0.40% Cu, 0.24% Ni; 추가로 2.49Mt inferred at 1.62 g/t 2PGE. Benton은 Clean Air Metals의 24.6M 주식(9.8%)을 보유하고 있으며 특정 매장지에 대해 0.5% NSR를 보유합니다.
Benton (BNTRF) publie la nouvelle PEA de Clean Air Metals pour le projet Thunder Bay North avec une VAN avant impôt NPV8 de 219,4 M CAD et une TRI avant impôt de 39% contre un coût en capital du projet de 89,5 M CAD. Le NPV après impôt est 157,5 M CAD et le TRI après impôt est 32%. À prix spot, le NPV avant impôt à 8 ans monte à 316 M CAD avec un TRI avant impôt de 52%.
L'étude conçoit une opération à faible coût utilisant des infrastructures temporaires et le traitement en toll milling, avec une période de remboursement du capital de 2,5 ans et une marge opérationnelle de 45%. Ressources mises à jour : 14,9 Mt indicated à 2,66 g/t 2PGE, 0,40% Cu, 0,24% Ni; plus 2,49 Mt inferred à 1,62 g/t 2PGE. Benton détient 24,6 M d'actions (9,8%) de Clean Air Metals et une NSR de 0,5% sur les dépôts spécifiés.
Benton (BNTRF) meldet Clean Air Metals' neuen PEA für das Thunder Bay North-Projekt mit einem vor Steuern NPV8 von C$219,4 Mio. und einem vor Steuern IRR von 39% bei einer Projektkapitalkosten von C$89,5 Mio.. Der NPV nach Steuern beträgt C$157,5 Mio. und der IRR nach Steuern 32%. Bei Spot-Preisen steigt der vorsteuerliche NPV8 auf C$316 Mio. mit einem vorsteuerlichen IRR von 52%.
Die Studie entwirft einen kostengünstigen Betrieb unter Verwendung temporärer Infrastruktur und Toll-Milling, mit einer Kapitalrückflusszeit von 2,5 Jahren und einem prognostizierten Betriebsrendite von 45%. Aktualisierte Ressourcen: 14,9 Mt indicated bei 2,66 g/t 2PGE, 0,40% Cu, 0,24% Ni; zusätzlich 2,49 Mt inferred bei 1,62 g/t 2PGE. Benton hält 24,6 Mio. Aktien (9,8%) von Clean Air Metals und eine 0,5% NSR auf die angegebenen Lagerstätten.
Benton (BNTRF) تقر بتقرير PEA الجديد من Clean Air Metals لمشروع Thunder Bay North بـ NPV8 قبل الضريبة قدره 219.4 مليون دولار كندي و IRR قبل الضريبة 39% مقابل تكلفة رأس المال للمشروع 89.5 مليون دولار كندي. NPV بعد الضريبة هو 157.5 مليون دولار كندي و IRR بعد الضريبة 32%. عند الأسعار الفورية، يرتفع NPV قبل الضريبة لـ 8 سنوات إلى 316 مليون دولار كندي و IRR قبل الضريبة إلى 52%.
تصمم الدراسة عملية منخفضة التكلفة باستخدام بنية تحتية مؤقتة والطحن بالتول (toll milling)، مع فترة استرداد رأس المال 2.5 سنة وهامش تشغيلي متوقع 45%. الموارد المحدثة: 14.9 مليون طن موضح عند 2.66 g/t 2PGE، 0.40% Cu، 0.24% Ni؛ بالإضافة إلى 2.49 مليون طن مُستدل عليه عند 1.62 g/t 2PGE. لدى Benton 24.6 مليون سهم (9.8%) من Clean Air Metals ولها NSR 0.5% على الرواسب المحددة.
Benton (BNTRF) 报告 Clean Air Metals 的 Thunder Bay North 项目的新投资经济性研究（PEA），其< b>税前NPV8为C$219.4M，税前IRR为39%，项目资本成本为C$89.5M。税后NPV为C$157.5M，税后IRR为32%。在现货价格下，税前NPV8上升至C$316M，税前IRR为52%。
该研究设计了一种低成本运营，使用临时基础设施和代加工（toll milling），资本回收期为2.5年，预计运营利润率为45%。更新的资源：14.9M t indicated @ 2.66 g/t 2PGE, 0.40% Cu, 0.24% Ni；此外还有2.49M t inferred @ 1.62 g/t 2PGE。Benton 持有 Clean Air Metals 的24.6M 股份（9.8%），并在指定矿床上拥有0.5% NSR。
- Pre-tax NPV8 of C$219.4M
- Pre-tax IRR of 39% (after-tax 32%)
- Project capital cost of C$89.5M with 2.5-year payback
- Indicated resource: 14.9M t @ 2.66 g/t 2PGE
- Benton equity stake of 24.6M shares (9.8%) and a 0.5% NSR
- No mineral reserves reported
- Inferred resource limited to 2.49M t at lower grade
- Project requires upfront capital of C$89.5M to develop
Thunder Bay, Ontario--(Newsfile Corp. - October 9, 2025) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that the newly announced Clean Air Metals PEA Delivers C
Highlights from the Clean Air announcement.
- The project has a
$219.4M 1 pre-tax NPV8 against a project capital cost of$89.5M . After-tax NPV of$157.5M - The pre-tax internal rate of return (IRR) is
39% , and the after-tax IRR is32% - At spot pricing1, pre-tax NPV8 totals
$316M with pre-tax IRR of52% - The asset is designed from the ground up as a low-cost, high-margin producer with access to the first seven months from collaring the ramp portal. The project maximizes the use of temporary infrastructure and utilizes toll milling at a nearby facility
- The capital payback is 2.5 years from the start of production through healthy operating margins of
45% - Baseline environmental studies are primarily completed to support future permitting of the project
- The Project is near the City of Thunder Bay, Canada, where key highway and electrical infrastructure and support are located
- The Company has positive relationships and is working closely with nearby Indigenous communities to allow full and meaningful participation in the project
- The resource has been updated with additional drilling and new pricing, highlighting a 14.9M tonne indicated resource grading 2.66 g/t 2PGE2,
0.40% Cu and0.24% Ni - Additionally, there are 2.49M tonnes of inferred resource grading 1.62 g/t 2PGE2,
0.31% Cu and0.19% Ni. There are no reserves
SOURCE: Clean Air Metals, Inc.
Maps: Benton's Interest for Thunder Nay North and Escape Lake Deposits.
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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 @
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.
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FAQ
What did the Clean Air Metals PEA announce for Thunder Bay North on October 9, 2025?
How large is Benton's stake in Clean Air Metals (BNTRF) after the PEA?
What are the resource figures from the October 9, 2025 update for Thunder Bay North?
What is the expected capital payback and operating margin in the PEA for Thunder Bay North?
Does the PEA report any mineral reserves for Thunder Bay North?
How does spot pricing affect the project's economics in the PEA?
