Benton Stakes Hele Intrusion and Updates Shareholders on Regency/Clean Air Metals Transaction
Benton Stakes Hele Intrusion and Updates Shareholders
on Regency/Clean Air Metals Transaction
Thunder Bay, Ontario--(Newsfile Corp. - March 31, 2020) -
Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is
pleased to announce that it has acquired a 100% interest in a project covering the Hele Intrusive complex in Northwestern
Ontario, Canada, by staking 4 multi-cell mining claims totaling 1462 hectares.
The new claims cover historical drill holes and
geological mapping which identified a Midcontinent Rift-style ('MCR') intrusive complex as is located approximately 30km
northeast of the TBN and Escape Lake PGE deposits.
The Hele intrusion is a zoned, picritic intrusion of peridotite and olivine-
gabbro which are two lithologies analogous with PGE deposits associated with the MCR, including the high grade TBN and
Escape Lake deposits which Benton has optioned to Regency Gold Corp. (TSXV: RAU) ("Regency").
Regency is now being led
by mining executives Abraham Drost (CEO) and Jim Gallagher (Executive Chairman), the latter being the former CEO of North
American Palladium which recently sold to Impala Platinum for C$1 Billion.
Upon trading resumption, Benton will hold 24.6M
shares of Regency. Regency has announced it will change its Name to
Clean Air Metals Inc
and will trade under the symbol
TSX-V:
AIR
upon TSX approval which Regency believes will happen within the coming weeks. Regency has also closed a $15.0
million financing which includes $2,000,000 from Eric Sprott representing 10,000,000 Unit Shares and 5,000,000 Warrants,
representing 7.99% of the issued and outstanding common shares of Regency on a non-diluted basis and 11.53% of the issued
and outstanding common shares of Regency on a partially-diluted basis, assuming the exercise of Mr. Sprott's Warrants. (See
Regency PR Feb 11, 2020).
Benton looks forward to Regency resuming active trading as well as the execution of their team's
strategy to advance the Thunder Bay North and Escape Lake deposits.
Thunder Bay North (TBN) Property includes high-grade intercepts of
46.65m @ 10.1g/t Platinum+Palladium+Gold
(5.267g/t
Pt + 4.555g/t Pd + 0.324g/t Au) with
1.62% Copper+Nickel
(1.154% Cu + 0.465% Ni), incl.
13.0 m @ 33.2 g/t Pt+Pd+Au
(17.305g/t Pt + 14.817g/t Pd + 1.061g/t Au) and
4.91% Cu+Ni
(3.755% Cu + 1.308g/t Ni), incl. a spectacular intercept of
2.6 m
@ 97.9 g/t Pt+Pd+Au
(52.769g/t Pt + 41.538g/t Pd + 3.630g/t Au) and
14.9% Cu+Ni
(11.599% Cu + 3.289% Ni) in drill hole
BL 10-197. Drilling highlights on the 220 hectare Escape Lake Property include
121.6 m @ 2.49 g/t Pt+Pd+Au
(1.04g/t Pt +
1.37g/t Pd + 0.07g/t Au)
and 0.86% Cu+Ni
(0.52% Cu + 0.34% Ni), incl.
33.4 m of 7.28 g/t Pt+Pd+Au
(3.01g/t Pt + 4.08g/t Pd
+ 0.19g/t Au)
and 2.26% Cu+Ni
(1.49% Cu + 0.77% Ni) in drill hole 12CL0009, and
162 m @ 1.42 g/t Pt+Pd+Au
(0.61g/t Pt +
0.76g/t Pd + 0.06g/t Au)
and 0.47% Cu+Ni
(0.28% Cu + 0.19% Ni), incl.
40.67 m 4.5 g/t Pt+Pd+Au
(1.92g/t Pt + 2.48g/t Pd +
0.18g/t Au)
and 1.26% Cu+Ni
(0.89% Cu + 0.36% Ni) in drill hole 11CL0005.
QP
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"
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. Many 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
Phone:
807-475-7474
Email:
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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