Business
Benton Resources Corp. (BTC) Acquires and Joint Ventures new Ni-Cu-Co property
THUNDER BAY, ON, March 14 /CNW/ - Benton Resources Corp. ("Benton" or the "Company") is pleased t...
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\nTHUNDER BAY, ON, March 14 /CNW/ - Benton Resources Corp. ("Benton" or the\n"Company") is pleased to report that the Company has entered into an option\nagreement to acquire 70% of the Portage Lake Nickel-Copper-Cobalt (Ni-Cu-Co)\nproperty located in Central Newfoundland. The property consists of seven\nunpatented mining licenses totaling 593 units. The project is Joint Ventured\nwith Golden Dory Resources (GDR) which has an option to acquire the remaining\n30% interest and which will be funding 30% of exploration costs. To earn its\n70% interest Benton will make payments totaling $87,000 in cash and issue to\nthe vendors 136,000 shares over 3 years. The property is also subject to a 2%\nNSR payable to the vendors of which Benton and GDR can buy back 1% for 1\nmillion dollars. The property is host to several newly discovered Cu-Ni-Co\nshowings that lie within a large mafic intrusion which has been recently\nidentified and mapped by the Newfoundland government.\n\n\nBenton believes the property geology is highly favourable for\nnickel-copper mineralization and is currently organizing an airborne survey to\nlook for conductive bodies within the large intrusion. The ground work will\nfollow as soon as weather permits to delineate diamond drill targets.\n\n\nThe Company also announces that it has agreed to grant 2,000,000\nincentive stock options to directors, employees and consultants of the\nCompany, exercisable at a price of $0.70 per share for a period of five years\nfrom the date of grant.\n\n\nClinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is\nthe qualified person responsible for this release.\n\n\nOn behalf of the Board of Directors of Benton Resources Corp.\n\n\n"Stephen Stares"\n\n\nStephen Stares, President\n\n\nTHE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT\n\n\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\n\nForward-looking statements in this release are made pursuant to the safe\nharbor provisions of the Private Securities Litigation Reform act of 1995.\nInvestors are cautioned that such forward-looking statements involve risks and\nuncertainties.\n\n\n","length":2246,"tagName":"div"}]