Business
Benton Completes Sale of Bamoos Land Package to Marathon
Benton Completes Sale of Bamoos Land Package to Marathon
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\nBenton Completes Sale of Bamoos Land Package to Marathon\n\n\n Jun. 10, 2009 (TheNewswire.ca) -- June 10, 2009 - Thunder Bay, Ontario: Benton Resources Corp. (TSXV:BTC) (\"Benton\" or \"the Company\", BTC: TSX-V) is pleased to announce that it has completed the sale of the Bamoos Land Package to Marathon PGM Corporation (TSX:MAR') (TSX:MAR) (\"Marathon\"). Marathon purchased 100% ownership of a land package consisting of one mining lease and one claim block covering a total of 329 hectares, adjoining the northern border of the Marathon PGM-Cu Project (the \"Project\") located 10 km north of Marathon, Ontario. All terms of the purchase agreement have been met and land title has been transferred over to Marathon. Please see Benton's press release of 25-Mar-09 for the terms of the purchase agreement.Highlights- purchase preserves Marathon's mineral reserves and eases development of mining the Main Zone and satellite zones of the Benton land package- purchase allows the Benton lands to be included in the ongoing federal and provincial permitting process for the future Marathon Project, as well as the potential revision of the definitive feasibility study\"Purchase of the Bamoos property is a strategic move and will benefit the Marathon Project. Being involved with Benton was a mutually beneficial experience and we hope there are other opportunities in the future,\" commented Phillip Walford, Marathon's President and CEO.Stephen Stares, Benton's President and CEO, stated, \"we are delighted to see the Bamoos transaction come to a close and we look forward to seeing the project move forward. Marathon has an exceptional team and we're excited to be involved with our equity position and the 2% Net Smelter Royalty.\"Purchase of the Bamoos Property demonstrates Marathon's continued commitment to increase shareholder value. The purchase further maintains Marathon's reserve and eases future resource development.Qualified PersonsPhillip Walford, P.Geo., President and CEO, is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Mr. Walford has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.Clinton Barr, P.Geo., V.P. Exploration, is Benton's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Mr. Barr has ...