Benton Resources Acquires Strategic Claims Directly Along Strike from Equinox Gold's Valentine Gold Mine in Central Newfoundland
Benton Resources (TSXV: BEX) has expanded its presence in Central Newfoundland through strategic land acquisitions near Equinox Gold's Valentine Gold Mine. The company has staked 108 claim units and executed a purchase agreement with Quest Inc. for an additional 33 claim units, bringing its total Victoria Lake package to 141 claims.
Under the agreement terms, Benton will pay Quest $6,000 cash and issue 200,000 shares for 100% interest, with Quest retaining a 2% Net Smelter Return (NSR). Benton maintains the right to buy back 1% for $1.5 million. Geological data indicates favorable gold structures continuing southwest towards Benton's Victoria West Project, with soil sampling showing gold values up to 169 ppb Au.
Benton Resources (TSXV: BEX) ha ampliato la sua presenza nel centro di Terranova tramite acquisizioni strategiche di terreni vicino alla Valentine Gold Mine di Equinox Gold. La società ha acquisito 108 unità di claim e ha stipulato un accordo d'acquisto con Quest Inc. per altre 33 unità di claim, portando il pacchetto Victoria Lake a 141 claim.
Secondo i termini dell'accordo, Benton pagherà a Quest $6.000 in contanti e emetterà 200.000 azioni per ottenere il 100% dell'interesse, con Quest che manterrà un 2% di Net Smelter Return (NSR). Benton mantiene il diritto di riacquistare l'1% per 1,5 milioni di dollari. I dati geologici indicano la presenza di strutture aurifere favorevoli che proseguono verso sud-ovest fino al progetto Victoria West di Benton, e i campionamenti del suolo hanno rilevato valori auriferi fino a 169 ppb Au.
Benton Resources (TSXV: BEX) ha ampliado su presencia en Terranova Central mediante adquisiciones estratégicas de terrenos cerca de la Valentine Gold Mine de Equinox Gold. La empresa ha adquirido 108 unidades de claim y ha firmado un acuerdo de compra con Quest Inc. por otras 33 unidades de claim, elevando su paquete Victoria Lake a 141 claims.
Según los términos del acuerdo, Benton pagará a Quest $6,000 en efectivo y emitirá 200,000 acciones por el 100% del interés, y Quest conservará un 2% Net Smelter Return (NSR). Benton mantiene el derecho a recomprar el 1% por $1.5 millones. Los datos geológicos indican que las estructuras favorables portadoras de oro continúan hacia el suroeste hasta el proyecto Victoria West de Benton, y los muestreos de suelo han mostrado valores de oro de hasta 169 ppb Au.
Benton Resources (TSXV: BEX)는 Equinox Gold의 Valentine 금광 인근에서 전략적 토지 확보를 통해 뉴펀들랜드 중부 지역에서의 입지를 확대했습니다. 회사는 108개 클레임을 확보하고 추가로 Quest Inc.와 33개 클레임에 대한 매매계약을 체결하여 Victoria Lake 패키지를 총 141클레임으로 늘렸습니다.
계약 조건에 따르면 Benton은 Quest에 $6,000 현금 및 200,000주를 발행하여 100% 지분을 취득하고, Quest는 2% Net Smelter Return (NSR)을 보유합니다. Benton은 1%를 $1.5M에 되사올 권리를 유지합니다. 지질학적 자료는 우호적인 금 구조가 남서쪽으로 Benton의 Victoria West 프로젝트 방향으로 이어지고 있음을示하며, 토양 표본에서는 최대 169 ppb Au의 금 값이 보고되었습니다.
Benton Resources (TSXV: BEX) a renforcé sa présence au centre de Terre‑Neuve par des acquisitions foncières stratégiques à proximité de la mine Valentine Gold d'Equinox Gold. La société a jalonné 108 claims et a conclu un accord d'achat avec Quest Inc. pour 33 claims supplémentaires, portant le lot Victoria Lake à 141 claims.
Selon les termes de l'accord, Benton versera à Quest 6 000 $ en espèces et émettra 200 000 actions pour obtenir 100 % des intérêts, Quest conservant un 2 % Net Smelter Return (NSR). Benton conserve le droit de racheter 1 % pour 1,5 million de dollars. Les données géologiques indiquent que des structures aurifères favorables se prolongent vers le sud‑ouest en direction du projet Victoria West de Benton, et des prélèvements de sol ont révélé des teneurs en or allant jusqu'à 169 ppb Au.
Benton Resources (TSXV: BEX) hat seine Präsenz in Zentral-Neufundland durch strategische Grundstücksübernahmen in der Nähe der Valentine Gold Mine von Equinox Gold ausgeweitet. Das Unternehmen hat 108 Claim-Einheiten abgesteckt und einen Kaufvertrag mit Quest Inc. über zusätzliche 33 Claim-Einheiten abgeschlossen, wodurch das Victoria Lake-Paket insgesamt 141 Claims umfasst.
Nach den Vertragsbedingungen zahlt Benton an Quest $6.000 in bar und gibt 200.000 Aktien aus für 100% der Beteiligung, wobei Quest eine 2% Net Smelter Return (NSR) behält. Benton behält sich das Recht vor, 1% für $1,5 Mio. zurückzukaufen. Geologische Daten deuten auf günstige goldführende Strukturen hin, die sich südwestlich bis zu Bentons Victoria West-Projekt fortsetzen, und Bodenproben zeigten Goldwerte von bis zu 169 ppb Au.
- Strategic acquisition directly along strike from an active gold mine
- Cost-effective land acquisition of 141 total claim units
- Favorable geological indicators with gold values up to 169 ppb Au in nearby soil samples
- Option to reduce NSR exposure by buying back 1% for $1.5 million
- Initial cash outlay and share dilution required for Quest agreement
- 2% NSR obligation on Quest claims and 0.25% NSR on certain staked claims
- Project is still in early exploration stage with no proven resources
Thunder Bay, Ontario--(Newsfile Corp. - August 13, 2025) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that it has staked four licences totaling 108 claim units directly along strike from Equinox Gold's Valentine Gold Mine, located in Central Newfoundland, Canada. The Company has also, subject to regulatory approval, executed a purchase agreement (the "Agreement") with Quest Inc. ("Quest"), an arm's-length private company, for two licences encompassing 33 claim units, bringing its total Victoria Lake land package to 141 claims.
In accordance with the Agreement, the Company will pay Quest a one-time cash payment of
A detailed compilation by Benton, using first-derivative magnetics and historical assessment work filed with the Government of Newfoundland, along with a public press release from Marathon Gold (see Marathon Gold Corporation Press Release dated March 06, 2023) shows that the favourable trend and gold structures continue south west towards Benton's new Victoria West Project (Figure 1). In particular, a soil sampling program completed and released by Marathon Gold highlighted this favourable contact trend with highly anomalous gold values up to 169 ppb Au in soils near the water's edge trending toward Benton's newly acquired claims (Figure 2).
Figure 1: Compilation on the Victoria West Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3657/262304_589c1509e4368bbf_002full.jpg
Figure 2: Western Peninsula Gold in Soils on the Victoria West Project
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https://images.newsfilecorp.com/files/3657/262304_589c1509e4368bbf_003full.jpg
Stephen Stares, Company President and CEO, commented, "This is yet another fantastic opportunity for Benton and its shareholders as it strategically complements our prospective gold and base metal project portfolio in Newfoundland, one of the world's top-ranked mining jurisdictions. We are pleased to have cost-effectively acquired an excellent land position directly along strike from one of Canada's newest and continually growing gold mines. These opportunities are rare and truly hold significant discovery potential. The Company is currently looking at its options for drill targeting on the project."
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.
QA/QC Protocols
Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical Ltd., Springdale, Newfoundland for preparation and analysis. All samples were acquired by saw-cut (channels/drill core) with one-half submitted for assay and one-half retained for reference, or hand (rocks) and delivered, by Benton personnel, in sealed bags, to the Springdale lab of Eastern Analytical, which is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analyzed using Eastern's Au (Fire assay) @ 30g + ICP-34 method that delivers a 34-element package utilizing a 200 mg subsample totally dissolved in four acids and analyzed by ICP-OES analytical technique. Overlimits are analysed with Eastern's atomic absorption method, using a 0.200 g to 2.00 g of sample, digested with three acids. All reported assays are uncut. Eastern Analytical Ltd. achieved ISO 17025 accreditation in February 2014 (for more details on the scope of accreditation visit the CALA website). Grab samples are selective in nature and may not represent the average mineralization of a bedrock exposure.
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 @
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 Benton Resources acquire near the Valentine Gold Mine in Newfoundland?
What are the terms of Benton Resources' purchase agreement with Quest Inc.?
What geological evidence supports the potential of Benton's Victoria West Project?
How many total claims does Benton Resources now control in the Victoria Lake package?
What is the strategic significance of Benton Resources' new land acquisition?
