Benton Identifies Significant Gold System at Abernethy
THUNDER BAY, ONTARIO -- (Marketwire) -- 11/15/11 -- Benton Resources Corp. (TSX VENTURE: BTC) ('Benton' or 'the Company') is pleased to announce that the Company has received assay results from its recently completed diamond drill program on its 100% owned Abernethy gold project located 10km southwest of Kenora, Ontario. The drill program identified a large gold system of multiple gold-rich horizons that measures more than 500m in strike length and up to 77m core length in width. The system is open in all directions. Notably, the hole furthest to the west (ABE 11-07) cut multiple gold horizons that averaged 0.53gpt Au over 77.1 meters with several higher grade sections listed in the table below. Visible native gold is noted in the section 162.5m-164m. Hole ABE 11-07 was collared more then 200m west of two historical drill holes that returned gold grades of 17.8 gpt gold over 1.52 metres and 6.30 gpt gold over 6.1 metres (see Benton's PR dated April 18, 2011). The Company is encouraged with the results and is currently planning a larger winter program to expand on the known gold mineralization. The remainder of the results will be released once they are received and compiled. A location map can be viewed on the Company's web site. A table of significant results from Hole ABE-11-07 is as follows:
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Core
From To Interval Grade
Hole (m) (m) (m) (g/t Au)
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ABE-11-007 123.5 200.6 77.1 0.53
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including 123.5 135.8 12 0.78
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and 158 164 6 2.68
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including 159.5 164 4.5 3.32
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including 162.5 164 1.5 6.98
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and 189.8 192 2.2 1.43
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and 197 200.6 3.6 1.91
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including 199.5 200.6 1.1 3.88
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In addition, diamond drilling on the RIM project located 100km south of the Voisey's Bay nickel deposit in Labrador has been completed and yielded no significant results. The Company is evaluating if it will continue exploration in the future. Benton Resources Corp would like to acknowledge and thank the government of Newfoundland and Labrador for the $150,000 JCEP grant to assist in this program.
About Benton
Benton is a Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements. The Company currently has approximately $8.8 million in cash, owns approximately 57.9 million shares in Coro Mining Corp. (TSX: COP), holds approximately 348,000 shares of Stillwater Mining Company (NYSE: SWC), holds 782,500 shares in Marathon Gold Corp. (TSX: MOZ), holds 1.6 million shares in Puget Ventures (TSX VENTURE: PVS), holds 6.5 million shares of Mineral Mountain Resources Ltd. (TSX VENTURE: MMV), holds 815,000 shares of Bell Copper Corporation (TSX VENTURE: BCU), holds 1.2 million shares of Trillium North Minerals (TSX VENTURE: TNM), holds 1.5 million shares of Golden Dory Resources (TSX VENTURE: GDR) and 3.0 million shares Parkside Resources (currently private). Benton is currently in the process of spinning out the majority of its assets by a plan of arrangement into a new listed company in order to separate its 41.6% investment in Coro Mining from its cash, equities and exploration assets. Benton shareholders will receive a pro-rata interest in this new company on a one-for-one share basis and pursuant to regulatory approval.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Corp.,
Stephen Stares, President
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Benton Resources Corp.
Stephen Stares
President
(807) 475-7474
(807) 475-7200 (FAX)
www.bentonresources.ca
Investor Relations:
Clair Calvert
204-799-2086
