Benton Provides Update for Far Lake Project and Clean Air Metals' Drill Program and Announces Grant of Stock Options
Thunder Bay, August 21, 2020 - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that it has initiated a mechanical stripping program on various targets outlined from its ongoing exploration work at its recently optioned Far Lake project located 80km west of Thunder Bay, Ontario (see Benton PR dated May 20, 2020). The program is designed to help the Company better understand the orientation of the vein and mineralizing systems within the large intrusive and alteration system, as it prepares for its upcoming maiden drill campaign on the property.
Benton would also like to provide an update to its shareholders on the progress of Clean Air Metals ("Clean Air") in which Benton holds 24.6 million shares. Yesterday, Clean Air announced additional significant results from its ongoing drill program at the Escape Lake project thereby expanding the Escape Lake deposit (see Clean Air PR dated August 20, 2020). The drill highlights included hole ELR20-008 which intersected 96.0m of 1.22g/t Platinum, 1.63g/t Palladium, 0.61% Copper and 0.34% Nickel from 326.8m-423.0m downhole, including 18m of 2.29g/t Platinum, 3.2g/t Palladium, 1.17% Copper and 0.76% Nickel from 391.8m-410.0m downhole. Benton continues to be extremely encouraged by Clean Air's progress and looks forward to upcoming exploration results over the next few months.
Finally, Benton announces that it has granted 2.1 million incentive stock options to directors, officers, employees and consultants of the Company at an exercise price of $0.20 for a period of five years from the date of grant. The options are subject to vesting provisions contained within the Company's stock option plan.
Nathan Sims (P.Geo.), Senior Exploration Manager 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.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
About Benton Resources Inc.
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company's website. Most projects have an up-to-date 43-101 Report available.
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
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x231
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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