Benton Provides Company Update
(firmenpresse) - THUNDER BAY, ONTARIO -- (Marketwired) -- 08/25/16 -- Benton Resources Inc. (TSX VENTURE: BEX) ("Benton" or "the Company") is pleased to provide shareholders with an update on its ongoing exploration and plans.
As previously announced, the Company and its joint venture partner Nordmin Engineering Ltd. ("Nordmin") have mobilized a drill to the Cape Ray project to commence a 5,000 metre drill program. The current drill program is designed to infill and expand the 51 and 41 deposits to provide greater confidence in the current resource as the partners advance the project towards feasibility.
In March of this year (see PR March 07, 2016) the companies released the results of a positive preliminary economic assessment ("PEA") for Cape Ray. 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 geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.
The Company would like to remind its shareholders of the current equities positions and projects retained by Benton including 1.3 million shares of Mineral Mountain Resources Ltd., 1.0 million shares of Alset Energy Corp., 191,500 shares of Alabama Graphite Corp. and other small equity holdings.
Projects held by the Company include:
Iron Duke (Gold)
Panama (Gold)
Abernethy (Gold)
Saganaga (Gold)
Mealy Lake (Copper-Nickel-PGE)
Providence (Copper-Nickel-PGE)
Kingurutik (Copper-Nickel-Cobalt)
Bark Lake (Copper-Nickel-PGE)
Armit Lake (Copper-Nickel-Cobalt-Gold)
Benton is currently seeking partners for many of these projects and interested parties are encouraged to contact the Company for further details and reports. More information can be found on Benton's web site at .
In addition, the Company is pleased announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.
"We are pleased to announce that we have selected Renmark to reinforce Benton's profile in the financial community and enhance the visibility of our project portfolio. We choose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public," noted Stephen Stares, President of Benton Resources Inc.
In consideration of the services to be provided, the Company has agreed to pay a monthly retainer of $4,000 starting September 1st, 2016 to Renmark Financial Communications Inc.
Renmark Financial Communications does not have any interest, directly or indirectly, in Benton Resources Inc. or its securities, or any right or intent to acquire such an interest.
About Benton Resources Inc. (TSX VENTURE: 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 (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
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
Contacts:
Benton Resources Inc.
Stephen Stares
(807) 475-7474
(807) 475-7200 (FAX)
Renmark Financial Communications Inc.
Bettina Filippone
(416) 644-2020 or (514) 939-3989
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 25.08.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 491106
Anzahl Zeichen: 0
contact information:
Town:
THUNDER BAY, ONTARIO
Kategorie:
Mining & Metals
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