Buchans & Benton announce additional high-grade gold in float at Goldquest South - 123.81 g/t gold & 414.2 g/t silver - Drilling planned

Trading Symbol: TSXV: BMC
Shares Outstanding: 150,898,545

WINDSOR, NS, Aug. 18, 2011 /CNW/ - Buchans Minerals Corporation (TSXV: BMC) ("Buchans Minerals") and Benton Resources Corp. (TSXV: BTC) ("Benton") or the "Companies" are pleased to announce additional results from the "Goldquest" gold prospect within their Long Range 50/50 Joint Venture property in central Newfoundland. Trenching has identified additional mineralized quartz material in bedrock and float, enhancing the Companies' understanding of the mineralized system and its potential to host high-grade gold mineralization over an open-ended, 750 metre long trend. Based on these results, the Companies have submitted permit applications and are currently seeking tenders to undertake an initial eight-hole (875 m) drilling program to commence in September.

The program will test two key locations along the Goldquest Trend: the Goldquest South area, where prospecting and trenching have identified additional high-grade mineralized float 50 metres east of high-grade float discovered in late 2010; and the Goldquest North area, where mineralization has been located in bedrock.

At the Goldquest South area, trenching unearthed abundant gold-bearing quartz float in till, including partially disaggregated slabs measuring up to 10 m x 0.5 m, with smaller angular blocks measuring up to 25 cm in diameter. Samples collected from this float material returned assays of up to 123.81 g/t gold and 414.2 g/t silver as well as 104.10 g/t gold and 425.7 g/t silver. These newly discovered quartz float samples were identified approximately 50 metres east of previously discovered surface float samples in till that returned assays up to 106.38 g/t gold and 364.3 g/t silver (announced January 10, 2011). Glacial transport directions recently identified in trenched bedrock exposures in the Goldquest South area suggest the float was likely transported from east to west. Given the abundance, size and angularity of the float, the Companies believe the bedrock source may lie immediately east of existing trenches, where thick overburden prevented  testing by trenching. The Companies further believe this location represents a high priority target for discovery of a significant, high-grade, vein-hosted, gold deposit.

At the Goldquest North area, trenching has extended the gold-bearing quartz vein in bedrock over a minimum strike length of 35 metres, where the vein varies in width between 0.20 m and 0.45 m and dips steeply to subverticaly to the west. New exposures have returned channel samples assaying 0.064 g/t Au over 0.22 m, 0.81 g/t Au over 0.40 m, and 5.5 g/t Au over 0.45 m respectively. Excessive overburden prevented further excavation of the vein which remains open along strike in both directions.

Warren MacLeod, President of Buchans Minerals states that "we are excited by results to date as they allow us to now proceed to an initial exploratory drill program on this exciting new gold prospect…based on current results, we believe there is excellent potential for the discovery of a high-grade, vein hosted, gold deposit."

To date, prospecting and trenching along the Goldquest Trend has returned assays collected form quartz in bedrock and float ranging between 0.005 g/t and 123.81 g/t Au. Of a total of 52 samples collected from mineralized quartz float and bedrock in 2010 and 2011, assays for gold and silver range between 0.005 g/t and 123.8 g/t gold (average 12.8 g/t, median 0.82 g/t) and between 0.2 g/t and 425.7 g/t silver (average 75.9 g/t, median 4.2 g/t). A table summarizing assay highlights from the 2011 trenching program is presented below. A map showing the property location, assay sample locations and highlights is presented on Buchans Minerals' website at http://www.buchansminerals.com

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Assay highlights from 2011 trenching, Goldquest prospect, Long Range JV, Newfoundland.

Background:
In 2010 the Companies identified two areas hosting anomalous gold in soils, float and bedrock collectively known as the Goldquest prospect and comprised of the Goldquest North and South areas. In the North area, prospecting discovered a mineralized quartz vein containing trace to several percent sulphides returning bedrock grab samples assaying up to 8.52 g/t gold and 30.7 g/t silver. At the South area, located approximately 750 metres south-southwest of the North area, abundant quartz float was found assaying up to 106.38 g/t gold and 364.3 g/t silver. The Companies initiated further work in 2011 dedicated to further testing this potentially important gold discovery in a previously unexplored portion of Newfoundland. The prospect is located less than 10 kilometres from a paved highway and power lines.

Qualified Person:
Paul Moore, M.Sc., P.Geo., (NL), Buchans Mineral's Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. Reported assays are derived from samples collected by Buchans Minerals staff. All assays were completed by Eastern Analytical Limited of Springdale, Newfoundland by the ICP (Inductively Coupled Plasma Optical Emission Spectroscopy) method (ICP-11) and Ore Grade Assay for Ag by the atomic absorption (AA) method. Gold assays were completed by standard ½ assay ton fire assay using the AA method.

Buchans Minerals would like to acknowledge financial support to be received from the Junior Exploration Assistance (JEA) Program of the Province of Newfoundland and Labrador in carrying out a portion of their work on the Long Range Nickel joint venture in 2011.

About Buchans Minerals:
Buchans Minerals is an Atlantic Canada based resource company that is focused on exploring and developing mineral properties in New Brunswick and the historic Buchans mining camp in central Newfoundland, Canada.

About Benton Resources:
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 $12.2 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 approximately 1.6 million shares in Puget Ventures (TSX-V.PVS), holds approximately 6.5 million shares of Mineral Mountain Resources Ltd. (TSX-V.MMV), holds 815,000 shares of Bell Copper Corporation (TSX-V.BCU), holds approximately 1.7 million shares of Trillium North Minerals (TSX-V.TNM), holds approximately 1.6 million shares of Golden Dory Resources (TSX-V.GDR) and holds 3 million shares Parkside Resources (currently a private corporation). 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 approximate 41.6% investment in Coro Mining Corp. 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.

Forward Looking Statements:
Certain information contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Buchans Minerals and Benton (the "Companies") believe that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. The Companies caution that actual performance will be affected by a number of factors, many of which are beyond their control, and that future events and results may vary substantially from what the Companies currently foresee. The Companies' forward-looking statements are expressly qualified in their entirety by this cautionary statement.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.