Metals Creek and Benton Complete Hydrogen-Helium Soil Gas Sampling at Smoking Gun and Parson's Pond in Newfoundland and Acquires Addition Ground
Rhea-AI Summary
Metals Creek Resources (OTC: MCREF) and Benton Resources have signed a purchase agreement with G2B Gold to jointly acquire a 100% interest in two mineral licenses totaling 30 claim units in Newfoundland’s Deer Lake Basin and Parsons Pond areas, on a 50/50 ownership basis. Consideration includes the issuance of 120,000 Metals Creek shares and 82,500 Benton shares to G2B at closing, subject to TSXV approval, plus a 2% net smelter royalty (NSR) on the properties. The companies may buy back 1% NSR for $1 million. No finder’s fees were paid. In parallel, over 700 soil gas samples have been collected at the Smoking Gun and Parson’s Pond hydrogen-helium projects for lab analysis, with results expected within two weeks to guide initial drill‑target testing.
Positive
- 100% interest in 2 licenses (30 claim units) acquired 50/50 with Benton
- Share-based consideration only: 120,000 Metals Creek and 82,500 Benton shares, no cash
- NSR buyback option: right to repurchase 1% of 2% NSR for $1 million
- 700+ soil gas samples completed at Smoking Gun and Parson’s Pond for H2/He analysis
Negative
- 2% NSR burden granted to G2B on the acquired properties
- Equity dilution from issuing 120,000 new Metals Creek shares to G2B
- Transaction conditional on TSXV approval before closing
AI-generated analysis. How Rhea-AI works. Not financial advice.
Thunder Bay, Ontario--(Newsfile Corp. - August 18, 2026) - Metals Creek Resources Corp. (TSXV: MEK) (OTC Pink: MCREF) (FSE: M1C1) (the "Companies" or "Metals Creek") and Benton Resources Inc. (TSXV: BEX) (the "Companies" or "Benton") are pleased to announce that it has entered into a purchase agreement (the "Purchase Agreement") with G2B Gold ("G2B"), an arms-length party, whereby the Companies will jointly acquire a
Purchase Agreement terms:
The Companies can acquire
the issuance to G2B of 120,000 common shares of Metals Creek and 82,500 common shares of Benton on the closing date which shall be five business days after the date the Companies receive regulatory approval for the Purchase Agreement;
a
2% NSR on the Properties. The Companies will have the right, at any time, to purchase one half of the NSR (i.e.1% ) by paying$1 million to G2B.
The agreement is subject to TSXV approvals.
In addition, the Companies are pleased to announce the completion of two large scale regional soil gas sampling programs at Parson's Pond and Smoking Gun Hydrogen-Helium projects. Rudy Willick of Rudiger and his team at Re-Chem from Neuanlage, Saskatchewan have collected over 700 samples which have been sent back to his Saskatchewan laboratory for analysis. Results are expected in the next two weeks and well be reported once received and compiled. The companies will plan and inaugural program to test favourable targets for Hydrogen and Helium.
Deer Lake Basin Property
The Smoking Gun Project contains the Mills No.1 drill hole in the Southwest, in addition to the Claybar No. 3 drill hole (Figure 1) to the NE. The Companies are excited about this new acquisition, as recent research from historical data has revealed highly anomalous helium with values up to 8,900 parts per billion (ppb) (see Table 1) in water collected from a historic drill hole (79-67). This hole is located approximately 11.8 km from a drill hole (Mills No. 1) that encountered high pressure gas that flowed for a minimum of 12 months in a basin prospective for uranium-thorium. In addition, several mentions of gas are noted in Claybar No. 3, located 32 km to the NE of drill hole 79-67. These 3 holes potentially indicates an expansive system with favorable geological conditions for the generation and entrapment of gas.
Ref:https://gis.gov.nl.ca/mods/ModsCard.asp?NMINOString?temp=n&NMINOString=012H/03/Btm002
Figure 1: Smoking Gun Claims
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/310162_72fa6dcec405486e_002full.jpg
Parson's Pond Property
At Parson's Pond, the Companies large land position covers a faverable large basin (see Figure 2) where research confirmed the presence of gas in several historical drill logs located 14.2 km apart, significant gas hits observed C1 methane gas levels reaching
(Ref. NALCOR ENERGY — OIL AND GAS INC FINAL WELL REPORT For Nalcor Energy et al SEAMUS #1 https://www.gov.nl.ca/em/files/publications-energy-nalcorseamusfwr.pdf and NALCOR ENERGY — OIL AND GAS INC FINAL WELL REPORT For Nalcor Energy et al Finnegan #1 https://www.gov.nl.ca/em/files/FinniganFWR.pdf ).
Figure 2: Parsons Pond Claims
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https://images.newsfilecorp.com/files/943/310162_72fa6dcec405486e_003full.jpg
Survey Parameters
The geochemical survey program begins with the preparation of sample vials and replacing the septa in the probes. The vials are evacuated to an absolute pressure of 20 pascals so that a sample extracted by a syringe is not contaminated with residual ambient air. A cordless rotary drill is used to drive a hollow probe of stainless steel to an average depth of about 1 meter to avoid barometric pumping which can affect gas concentrations in soil. Once the probe is purged of ambient air, a 30cc sample is extracted and injected through the septum of a 12cc vial. Other operations at the sampling site are the recording of coordinates by GPS and recording of sample numbers on the box cover. To avoid Hydrogen Artefacts in analysis, Rudiger Re-Chem utilizes a proprietary probe as well as detailed field notes for soil-gas surveys. The samples are shipped to Rudiger Re-Chem's lab in Saskatoon for analysis by a state-of the art Gas Chromatographs.
Hydrogen and Helium Demand
Hydrogen and helium have seen a significant increase in demand, with more expected in the future. Hydrogen is used as a fuel and a chemical building block, it helps create fertilizer for food, refines the gasoline in your car, and is increasingly being used to power clean trucks and ships as well as fuel for rocket propulsion for the launching of satellites. Helium is the world's ultimate cooler; its super-cold properties are essential for keeping MRI machines running and making the computer chips found in your phone and laptop. AI-driven chip manufacturing is the primary growth engine for helium. Helium keeps our most advanced technology and medical equipment functioning.
In the neighboring province of Nova Scotia, companies such as Quebec Innovative Metals Corp are having success in the search for Natural Hydrogen. This success has generated further exploration in similar geological environments to that of the projects mentioned above.
Please note that the presence of gas or methane on these staked projects or gas discovered on adjacent properties does not guarantee the presence of hydrogen or helium. Further studies are required to validate their presence.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a
Metals Creek has also jointly acquired through staking on a 50/50 basis with Benton Resources, potential natural white hydrogen projects in Newfoundland. The Smoking Gun Prospect was selected after research uncovered highly anomalous helium with values up to 8,900 parts per billion (ppb) in water collected from an historic drill hole. These licenses are located within the Deer Lake Basin, which is thought to be a prospective environment for the presence Helium (He) and Natural (White) Hydrogen (H₂).
At Parson's Pond, research of historical drill logs in two holes 14.2 km apart, have observed C1 methane gas levels reaching
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO
709-424-1141
Metals Creek Resources Corp
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310162