Benton and Sokoman Option Claims Adjacent to the Joint Kepenkeck Gold Property in Newfoundland
Benton and Sokoman Option Claims Adjacent to the Joint Kepenkeck Gold
Property in Newfoundland
Thunder Bay, ON, June 29, 2021 – Benton Resources Inc. (‘Benton’) (TSXV: BEX) and Sokoman
Minerals Corp. (‘Sokoman’) (TSXV: SIC) (OTCQB: SICNF) (jointly, ‘the Companies’ or ‘the Joint Venture’)
are pleased to announce that on behalf of their strategic alliance (see news release dated May 20. 2021)
Benton has entered into an option agreement to acquire the Larry’s Pond project which lies along the
western boundary of the Kepenkeck Gold JV claims (the “Option Agreement”). Larry’s Pond consist of two
licenses totalling 30 claim units (the “Property”). The optionors of the Larry’s Pond project (the “Optionors”)
have discovered and sampled multiple quartz veins and silicified zones containing sulfides (chalcopyrite and
galena) for which results are pending. Under the Option Agreement and upon approval from the TSX
Venture Exchange (the “Exchange”), Benton, on behalf of the Joint Venture, will issue 200,000 common
shares and make cash payments to the Optionors of $60,000 as per below:
a. paying to the Optionors in the aggregate $10,000 cash on execution of th e Option
Agreement;
b. issuing to the Optionors in the aggregate 50,000 common shares of Benton upon receipt
of Exchange approval for the Option Agreement;
c. paying to the Optionors in the aggregate a further $10,000 cash and issuing to the
Optionors in the aggregate a further 50,000 common shares of Benton by the first
anniversary of the effective date of the Option Agreement (the “Effective Date”);
d. paying to the Optionors in the aggregate a further $10,000 cash and issuing to the
Optionors in the aggregate a further 50,000 common shares of Benton by the second
anniversary of the Effective Date; and
e. paying to the Optionors in the aggregate a further $30,000 cash and issuing to the
Optionors in the aggregate a further 50,000 common shares of Benton by the third
anniversary of the Effective Date.
The Optionors will retain a 2% Net Smelter Royalty, half of which Benton, on behalf of the Joint Venture,
can purchase for CAD$1M at any time. Under the terms of the Joint Venture, Sokoman will reimburse
Benton for 50% of the Option payments made by Benton pursuant to the Option Agreement.
Personnel have begun prospecting and mapping on the Property, and the imminent, detailed, 100m-spaced
Airborne Mag-VFL survey that will encompass approximately 1,600 line-km in the area will include the
optioned Property. Benton and Sokoman anticipate that these initial activities will generate gold targets for
further exploration. Results will be released as they are received and compiled.
QP
Nathan Sims, P.Geo., Senior Exploration Manager for Benton Resources Inc., and Timothy Froude, P.Geo.,
President & CEO of Sokoman Minerals Corp., “Qualified Persons” under National Instrument 43-101, have
approved the scientific and technical disclosure i n this news release and prepared or supervised its
preparation.
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. Parties interested in seeking more
information about properties available for option can contact Mr. Stares directly.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland & Labrador,
Canada. The Company’s primary focus is its portfolio of gold projects: Moosehead, Crippleback Lake
(optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along
the Central Newfoundland Gold Belt, and the recently acquired district-scale Fleur de Lys project in
northwestern Newfoundland, which is targeting Dalradian-type orogenic gold mineralization similar to the
Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The Company also
recently entered into a strategic alliance with Benton Resources Inc. through three large-scale joint venture
properties including Grey River, Golden Hope and Kepenkeck in Newfoundland. Sokoman now controls
independently and through the Benton alliance over 150,000 hectares (>6,000 claims) of land, making the
Company 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 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:
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email: [email protected]
Benton Resources
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: [email protected]
Sokoman Minerals
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: [email protected]
Website: www.bentonresources.ca, www.sokomanmineralscorp.com
Twitter: @BentonResources, @SokomanMinerals
Facebook: @BentonResourcesBEX, @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 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.