Benton Announces $2 Million Non-Brokered Unit Financing with Investment by Eric Sprott
Benton Announces $2 Million Non-Brokered
Unit Financing with Investment by Eric Sprott
Thunder Bay, Ontario--(Newsfile Corp. - May 27, 2026) - Benton Resources Inc. (TSXV: BEX) ("Benton"
or the "Company") is pleased to announce that, subject to all regulatory approvals, the Company will
complete a non-brokered private placement financing (the "Private Placement") with investor Eric Sprott.
The Private Placement consists of 28,571,429 units of the Company at $0.07 per unit (the "Unit") for
gross proceeds of $2,000,000, each Unit consisting of one common share of the Company and one
common share purchase warrant (a "Warrant"), each Warrant being exercisable for an additional
common share of the Company at an exercise price of $0.10 for 36 months from the date of issue.
Mr. Sprott, a long-time investor and largest shareholder of the Company, will acquire the 28,571,429
units pursuant to the Private Placement for total consideration of $2,000,000, such participation
constituting a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection
of Minority Security Holders in Special Transactions ("MI 61-101"). The Company expects that such
participation will be exempt from the formal valuation and minority shareholder approval requirements of
MI 61-101 pursuant to applicable exemptions thereunder, including the exemption for transactions not
exceeding 25% of the Company's market capitalization.
The Private Placement is expected to close on or before June 15, 2026.
Stephen Stares, President and CEO of the Company, stated, "Benton is pleased to have Eric Sprott's
continued support as our largest shareholder. This financing positions us to advance our recently
acquired natural hydrogen and helium prospects in Newfoundland, in partnership with Metals Creek
Resources, while also supporting progress across our broader portfolio of critical minerals projects in
the province."
All securities issued pursuant to the Private Placement will be subject to a four-month and a day hold
period.
The proceeds from the sale of the Units will be used to advance Benton's recently acquired hydrogen
prospects in Newfoundland that are held on a 50/50 basis with Metals Creek Resources Corp. and for
working capital purposes.
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.
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 @ 3.21% Cu Indicated and
482,000 @ 2.35% Cu Inferred. The Project has an excellent geological setting covering 25km of strike
and boasts six known Cu-Au-Ag zones over 15km that are all open for expansion. Further potential for
discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil
anomalies. Phase 1 and 2 drill programs returned impressive results including 25.42 m of 5.51% Cu,
including 9.78 m of 8.31% Cu, and 1.00 m of 12.70% Cu.
Drilling at the South Pond Gold Zone,
approximately 7.5 km north of the Great Burnt Copper-Gold Zone, has confirmed a robust gold-
mineralized system over 2.5 km with results of 74.20 m of 1.43g/t Au and 43.75 m of 1.62g/t Au and is
open for expansion in all directions.
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:
Nick Konkin, Investor Relations
Phone
: 647-249-9298 ext. 322
:
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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