Benton and Sokoman Receive Explorer of the Year Award for the Killick/Kraken Lithium Project from the Canadian Institute of Mining, Metallurgy and Petroleum Newfoundland and Labrador Branch
Benton and Sokoman Receive Explorer of the
Year Award for the Killick/Kraken Lithium
Project from the Canadian Institute of Mining,
Metallurgy and Petroleum Newfoundland and
Labrador Branch
Thunder Bay, Ontario--(Newsfile Corp. - November 2, 2023) -
Benton Resources Inc.
(TSXV: BEX)
("Benton") and
Sokoman Minerals Corp.
(TSXV: SIC) (OTCQB: SICNF) ("Sokoman") together, (the
"Alliance") is pleased to announce that it has received the "Explorer of the Year" award at the annual CIM
Mineral Resource Review in Newfoundland.
The award was presented by the Newfoundland and
Labrador branch of the Canadian Institute of Mining, Metallurgy and Petroleum.
The award is presented
to a prospector, exploration team, or company that has made a recent and significant mineral discovery;
or significantly enhanced a prospect or deposit; or identified a previously unrecognized prospective
geological environment in Newfoundland and Labrador. The Alliance has received the award due to the
ongoing success at its Killick and Kraken Lithium discovery (formerly the Golden Hope Property) which
has produced significant surface sampling and drill results up to
1.04%
Li
2
O over 15.23 m in GH-22-
27, 1.08% Li
2
O over 9.50 m in GH-22-26, 1.22% Li
2
O over 13.37 m in GH-23-45, 0.81% Li
2
O over
21.00 m, and 0.99% Li
2
O over 10.16 m in GH-23-46
. In addition, the Alliance recently executed a $24
million option agreement with Piedmont Lithium Inc. further endorsing the potential of this prospective
lithium project. (see news release dated October 11, 2023).
Stephen Stares, President and CEO of Benton stated: "We are truly thrilled to have been chosen to
receive this prestigious award and thank the CIM in Newfoundland and Labrador for this distinct honour.
We are excited about the potential of this great Lithium project and look forward to seeing it aggressively
advanced by Vinland Lithium."
From Left: Stephen Stares (Benton Resources), Timothy Froude (Sokoman Minerals Corp.),
Amy Copeland (CIM NL Branch)
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Piedmont transaction highlights:
Piedmont is one of North America's leading lithium companies
Newfoundland is ranked in the top jurisdictions to explore and develop mineral potential
Benton and Sokoman incorporated Vinland Lithium Inc. ("
Vinland
") and its wholly-owned
subsidiary Killick Lithium Inc. ("
Killick
"), into which they transferred the Golden Hope Project
Piedmont has vast technical and geological knowledge in similar geology to that of Killick
pegmatites
Piedmont financed Vinland CAD$2.0M @ CAD$1.00 per share to hold 19.9%
Piedmont will have the option to earn up to a 62.5% direct interest in Killick by spending an
aggregate CAD$12.0M in exploration and development during the option period
Upon Piedmont completing all earn-in options, Piedmont will have paid Benton and Sokoman up
to a total of CAD$10.0M in Piedmont shares
Benton and Sokoman to retain a 2% royalty on the net returns of precious metals and the value of
lithium received from Killick
Figure 1: Killick Lithium Project relative to Piedmont's asset portfolio
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The Company would also like to correct disclosure of the terms presented in its press release dated
October 30, 2023 of the option agreement with Stephen Stockley Agriculture and Fabrication Inc.
("SSAF").
The Company will pay SSAF $30,000 and issue 300,000 common shares of the Company on
the third anniversary of the effective date, not the first anniversary as was erroneously reported.
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 it's preparation.
About Benton Resources Inc.
Benton Resources Inc. is a well-funded mineral exploration company listed on the TSX Venture
Exchange under the symbol BEX. Following a project generation business model, Benton has a
diversified, highly prospective property portfolio of Gold, Silver, Nickel, Copper, Platinum Group
Elements, and most recently Lithium and Cesium assets. In addition, it currently holds large equity
positions in other mineral exploration companies that are advancing high-quality assets. Whenever
possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.
Benton also entered into a 50/50 strategic alliance with Sokoman Minerals Inc. (TSXV: SIC) through
three large-scale joint-venture properties including Grey River Gold, Golden Hope, and Kepenkeck in
Newfoundland.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland and Labrador,
Canada. The company's primary focus is its portfolio of gold projects: flagship, 100%-owned
Moosehead, Crippleback Lake, and East Alder (optioned to Canterra Minerals Corporation) along the
Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project near Baie Verte in
northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the
Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company also
entered into a strategic alliance with Benton Resources Inc. through three large-scale joint-venture
properties including Grey River Gold, Golden Hope, and Kepenkeck in Newfoundland. Sokoman now
controls independently and through the Benton alliance over 150,000 hectares (>6,000 claims - 1,500
sq. km), making it one of the largest landholders in Newfoundland, Canada's newest and rapidly
emerging gold districts. The company also retains an interest in an early-stage antimony/gold project
(Startrek) in Newfoundland, optioned to Thunder Gold Corp (formerly White Metal Resources Inc.), and in
Labrador, the Company has a 100% interest in the Iron Horse (Fe) project that has Direct Shipping Ore
(DSO) potential.
For further information, please contact:
Benton Resources Inc.
Stephen Stares, President & CEO
Phone:
807-475-7474
Email:
Sokoman Minerals Corp.
Timothy Froude, P.Geo., President & CEO
Phone:
709-765-1726
Email:
CHF Capital Markets
Cathy Hume, CEO
Phone:
416-868-1079 x 251
Email:
Website:
www.bentonresources.ca,
www.sokomanmineralscorp.com
Twitter:
@BentonResources
,
@SokomanMinerals
Facebook:
@BentonResourcesBEX
,
@SokomanMinerals
LinkedIn:
@BentonResources
,
@SokomanMinerals
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 Alliance's
expectations; risks related to gold price and other commodity price fluctuations; and other risks and
uncertainties related to the Alliance's prospects, properties and business detailed elsewhere in the
Alliance'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
Alliance 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 Alliance's expectations or
projections.
East Dyke and Killick Dyke Area Drill Plan - Golden Hope JV
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Hydra Drill Plan - Golden Hope JV
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Soil Sampling Program - Golden Hope JV
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To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/186107