Benton Resources Inc.

Published : November 04th, 2016

November 4, 2016: BENTON AND NORDMIN RECEIVE DRILL RESULTS FROM FIRST 16 HOLES AT CAPE RAY November ...

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Keywords :   9/11 | Campaign | Copper | Diamond | Georgia | Gold | Junior | K Street | Nickel | Nsa | Platinum | Silver | Tax |

November 4, 2016: BENTON AND NORDMIN RECEIVE DRILL RESULTS FROM FIRST 16 HOLES AT CAPE RAY November ...

BENTON AND NORDMIN RECEIVE DRILL RESULTS FROM FIRST 16 HOLES AT CAPE RAY

November 4, 2016

Thunder Bay, Ontario: Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that the Company and its joint venture partner Nordmin Engineering Ltd. ('Nordmin') have received gold assays from the first 16 of 29 drill holes from the recently completed 5000m Diamond drill program on the Cape Ray Property, located along the Cape Ray fault in southwest Newfoundland. Highlights include 2.8m grading 16.68gpt gold in DDH 21, 2.2m grading 22.5gpt gold in DDH 32 and 4.1m grading 5.01gpt gold in DDH 34. These new results are encouraging and will be brought into the ongoing mining model in preparation for the upcoming prefeasibility study. Complete results for silver has not been received for these drill holes but will be released when available. More drill results are expected shortly and a table for the first 16 drill holes is listed below:

Zone

Drill Hole

FROM

TO

Length

Au (gpt)

51

CR_16_21

208.9

211.7

2.8

16.68

51

CR_16_20

NSA

51

CR_16_22

221.4

222.4

1.0

0.71

51

CR_16_23

87

88

1.0

1.38

51

CR_16_24

82.8

86.8

4.0

2.73

51

CR_16_25

NSA

51

CR_16_26

NSA

51

CR_16_32

138.6

140.8

2.2

22.50

and

146.2

147.7

1.5

5.49

and

162

163

1.0

2.13

51

CR_16_33

NSA

51

CR_16_34

123.35

127.4

4.1

5.02

51

CR_16_35

130.35

130.65

0.3

1.65

41

CR_16_40

136.25

137.25

1.0

0.66

41

CR_16_42

69

70

1.0

1.50

and

72.7

73.7

1.0

3.95

and

100.7

107.1

6.4

4.00

incl.

102.5

103

0.5

31.36

and

123.3

128.7

5.4

0.69

incl

123.3

123.6

0.3

6.32

41

CR_16_43

50.1

51.6

1.5

4.07

41

CR_16_44

110

110.5

0.5

3.11

and

119

130

11.0

1.05

incl.

126.5

127.2

0.7

6.93

and

147

148

1.0

2.93

04

CR_16_47

NSA

04

CR_16_51

118.3

120.3

2.0

5.36

Nordmin is earning up to a 50% interest in 4 of the 6 deposits (see Benton PR January 20, 2015) owned by Benton by completing various work programs and project milestones as well as carrying Benton to a full feasibility study and arranging 50% of project financing to production. In March of this year the companies released the results of a positive preliminary economic assessment ('PEA') for their Cape Ray Gold Project (see PR March 07, 2016). The results of the PEA include a pre-tax net present value ('NPV') at a 7% discount rate of $48.4 million with a pre-tax internal rate of return ('IRR') of 29% and a post-tax NPV at a 7% discount rate of $32.6 million with a post-tax IRR of 24%. The reader should be cautioned that the PEA is preliminary in nature. It contains inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. The current drill campaign will help bring some of the inferred resources into indicated which will help with the confidence level of the project as we move towards the feasibility study.

About Benton Resources Inc. (TSXV: BEX)

Benton Resources Inc is a well-funded Canadian-based junior with a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements.

Clinton Barr, PGeo, Vice-President of Exploration for Benton Resources Inc., is the qualified person responsible for this release and has prepared, supervised and approved the preparation of the scientific and technical disclosure contained within the release.

On behalf of the Board of Directors of Benton Resources Inc.,

'Stephen Stares'

Stephen Stares, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts 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

For further information contact Stephen Stares @:

684 Squier Street,

Thunder Bay, ON P7B 4A8

Phone (807)475-7474

Fax (807)475-7200

www.bentonresources.ca

Investor Relations:

Renmark Financial Communications Inc.Bettina Filippone: renmarkfinancial%23com|bfilippone

Tel.: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com

© 2016 Benton Resources Inc. All rights reserved.

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All

Benton Resources Inc.

CODE : BEX.V
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Benton Resources Inc. is based in Canada.

Benton Resources Inc. is listed in Canada. Its market capitalisation is CA$ 10.7 millions as of today (US$ 7.8 millions, € 7.3 millions).

Its stock quote reached its lowest recent point on January 29, 2016 at CA$ 0.03, and its highest recent level on July 09, 2020 at CA$ 0.30.

Benton Resources Inc. has 79 410 000 shares outstanding.

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