Metals Creek/Benton Options New GOLD Discovery IN Staghorn Area
METALS CREEK/BENTON OPTIONS NEW GOLD DISCOVERY IN STAGHORN
AREA
Toronto, Ontario , April 12, 2017 - Metals Creek Resources Corp. (TSXV: MEK) (“Metals
Creek”) and Benton Resources Inc. (TSXV: BEX) (“Benton”) are pleased to announce that they
have jointly executed a letter of intent (the “Agreement”) with a Newfoundland prospector
pursuant to which MEK and BEX have been granted the option to acquire a 100% interest (50%
each) in 22 claim units (the “Property”) located in the Victoria Lake area, Central
Newfoundland.
Under the Agreement, Metals Creek and Benton will make staged payments to the Vendor
totaling $45,000 ($5,000 on signing) and 425,000 common shares (50,000 on signing) over a
three year period. All cash and share payments will be split 50% Metals Creek and 50% Benton.
The Vendor will retain a 2% net smelter return (“NSR”) on the Property. Metals Creek / Benton
will have the right to buy back 1% of the NSR for $1,000,000. This transaction is subject to
TSX Venture Exchange approval as well as a due diligence period expiring June 15, 2017. The
optioned property will be folded into the Staghorn Project which Benton is earning a 60%
interest into. The Staghorn Project covers a portion of the regional Cape Ray Fault Zone that
hosts a number of significant gold deposits including Marathon Gold’s Valentine Lake deposit,
located 30km to the northeast and Benton’s Cape Ray gold deposits approximately 100 km to the
southwest.
The optioned property is contiguous with the northeast boundary of the Staghorn Gold Project.
Recent prospecting by the vendor resulted in the discovery of several areas of mineralized
outcrop and float along a 1.6 k ilometer strike length on the Property. Selective grab samples
submitted by the vendor returned gold values up to 18.86 grams per tonne (“gpt”), 61gpt silver,
1.7% copper, 0.59% lead, 0.15% antimony, and 2.76% zinc (not all in same sample) . Most of
the gold -bearing samples are described as quartz-carbonate material with varying amounts of
pyrite, chalcopyrite, arsenopyrite and galena. Highlights from the most recent samples collected
from an outcropping area of a gossanous felsic volcanic unit cut by numerous quartz veins where
three of these samples returned assays of 18gpt, 7gpt and 1gpt gold. The mineralization appears
to be related to an east-west fault that traverses the property and may be a splay off the auriferous
Cape Ray Fault system.
In addition, Metals Creek / Benton have staked an additional 30 claim units to the north and west
of the optioned claims.
Metals Creek and Benton plan on a complete property review once spring breakup is over and
weather conditions allow for additional sampling. This new acquisition enhances the value of
the Staghorn Gold Project and adds a number of new untested gold targets to the project.
Wayne Reid (PGeo) is a director of the company and is responsible for the preparation of this
News Release.
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 50% interest in the Ogden Gold Property, including the fo rmer Naybob Gold mine,
located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine -
Destor Fault (P -DF) that stretches between Timmins, Ontario and Val d’Or, Quebec. The
Company has also recently entered into an Option/JV w ith Trifecta Gold Ltd. on Metals Creek’s
Squid properties in Yukon. Metals Creek also has a JV with Benton Resources on Metals Creeks
Staghorn Gold Project in Newfoundland as well as two option agreements with Anaconda
Mining Inc. on Metals Creek’s Jackson s Arm and Tilt Cove Properties also in Newfoundland.
The company is engaged in the identification, acquisition, exploration and development of other
mineral resource properties, and presently has mining interests in Ontario, Yukon and
Newfoundland and Labrador. Additional information concerning the Corporation is contained in
documents filed by the Corporation with securities regulators, available under its profile at
www.sedar.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as th at
term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
For further information, please contact:
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email: [email protected]
www.metalscreek.com