Benton Resources Acquires 141 Claims Near Newfoundland Valentine Gold Mine

Benton Resources Inc. has strategically expanded its land holdings in central Newfoundland by staking 108 claim units and acquiring an additional 33 claim units from Quest Inc., bringing its Victoria Lake land package to 141 claims. The acquisition positions Benton directly along strike from Equinox Gold’s rapidly growing Valentine Gold Mine, enhancing its exploration potential in one of Canada's top-ranked mining jurisdictions. Under the purchase agreement, Benton will pay Quest $6,000 and issue 200,000 shares for a 100% interest in the claims, while Quest retains a 2% Net Smelter Return (NSR), with Benton having the option to buy back 1% for $1.5 million. Geological data including first-derivative magnetics and soil sampling reveal a favorable gold trend with anomalous gold values up to 169 ppb near Benton's project area, supporting significant discovery potential. Benton’s CEO highlighted the strategic importance of this acquisition in complementing the company’s existing gold and base metal portfolio in Newfoundland. Despite Benton being rated as an underperforming stock due to financial challenges and lack of revenue, the acquisition is viewed as a pivotal step for future exploration and value creation.