Jan. 12, 2011 (Filing Services Canada) -- Trillium North Minerals Ltd. (TNM - TSX Venture), ("Trillium") and Benton Resources Corp. (BTC ? TSX Venture)("Benton"), have signed a Letter of Intent ("LOI") which grants Benton the exclusive right to earn up to 70% interest in 5 mineral claims totaling 27 units by making various option payments and work commitments. Under the terms set out in the LOI, Benton can earn an initial 50% interest in the property by paying $80,000 in cash and 100,000 shares to Trillium and completing $200,000 in exploration expenditures over 3 years. Benton can earn an additional 10% by completing a further $200,000 in exploration expenditures over a further 2 years and a further 10% by completing a further $600,000 in exploration expenditures over a further 2 years.
The Shebandowan North property is located approximately 90 km west of Thunder Bay, Ontario and adjoins Benton's newly acquired 100%-owned Shebandowan project located in the central portion of the Shebandowan greenstone belt. Located less than 20 km along strike to the west are the past producing Ardeen and Coldstream gold deposits as well as the Moss Lake gold deposit. The Moss Lake deposit hosts a NI 43-101 compliant resource of 56.1Mt grading 0.92 g/t gold containing approximately 1.51 million ounces of gold (www.mosslakegold.com). The Coldstream deposit contains a historic resource (non NI 43-101 compliant) of 5.1Mt grading 1.4 g/t gold (www.altoventures.com). Approximately 20 km along strike to the west of the North Shebandowan project sits the Swamp River / Band-Ore gold deposit with a historic resource (non NI 43-101 compliant; Canadian Mines Handbook, 1998-99, p.63) of 998,000T grading 0.12 oz/T gold (approximately 905,000t grading 4.11 g/t) and the Vanguard Copper-Zinc-Gold deposit is situated only 4 km along strike to the east (www.trilliumnorth.com). Nickel production from the Shebandowan greenstone belt consisted of historic production of 8.7 million tons grading 2.07% nickel, 1% copper and approximately 3 g/t combined platinum group metals plus gold (www.nap.com) with current measured and indicated resources (NI 43-101 compliant) totaling 2.58 million tonnes grading 0.91% nickel, 0.62% copper, 1.09 g/t palladium, 0.34 g/t platinum, and 0.23 g/t gold (NAP NR, October 25, 2007).
A till sampling survey covering the Shebandowan greenstone belt was completed by the Ontario Geological Survey ("OGS") in 2002. The survey identified a 5 km trend of samples containing high counts of pristine gold grains taken on Benton's newly acquired ground. Other OGS till sampling programs completed in northern Ontario have identified similar areas of anomalous gold grain counts in the samples which have led to significant gold discoveries. The recent gold discovery by Northern Superior Resources Inc and Rainy River Resources Ltd on their TKP joint venture in Northern Ontario and the Rainy River deposit located near Emo, Ontario are two such examples. In addition, historical prospecting has identified high grade copper values with associated highly anomalous gold. Benton has initiated an exploration program consisting of grid establishment and ground geophysical surveys (magnetic and induced polarization) to help define diamond drill targets.
President Stephen Stares comments,"This early stage project demonstrates Benton's commitment to find inexpensive, early stage properties to build value quickly for the shareholders. We believe this project area has great potential and aggressive explorations programs will help evaluate the potential to discover economic mineralization on the property".
ON BEHALF OF THE BOARD
Elliot Strashin, President
For more information, please contact:
Elliot Strashin
President,
Trillium North Minerals Ltd.
(416) 504-0077 phone
(416) 504-6019 fax
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TRILLIUM NORTH MINERALS LTD
500 - 20 Maud St., TORONTO
Ontario, CANADA M5V 2M5
Telephone: (416) 504-0077 Fax: (416) 504-6019
402 - 905 West Pender Street, VANCOUVER
British Columbia, CANADA V6C 1L6
Telephone: (604) 681-1909 Fax: (604) 689-5930
Source: Trillium North Minerals Ltd
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