Benton and Sokoman Option Claims Adjacent to the Joint Kepenkeck Gold Property in Newfoundland

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[{"type":"text","content":"Benton and Sokoman Option Claims Adjacent to the Joint Kepenkeck Gold Property in NewfoundlandThunder Bay, Ontario--(Newsfile Corp. - June 29, 2021) - Benton Resources Inc. (TSXV: BEX) ('Benton') and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF)('Sokoman') (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 consists 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:paying to the Optionors in the aggregate $10,000 cash on execution of the Option Agreement;issuing to the Optionors in the aggregate 50,000 common shares of Benton upon receipt of Exchange approval for the Option Agreement;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\");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; andpaying 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, ...

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