Last updated on April 24, 2014 at 1:21 EDT

Benton Resources Corp. (“Benton”) Receives Resource Estimates From Its Joint Venture Partner on the BCF Property

October 10, 2008

Benton Resources Corporation (TSX-V: BTC) (“Benton” or the “Company”) is pleased to report that its partner Marathon PGM Corporation (Marathon) has provided a resource estimate on the BCF property which adjoins and forms the northern extension of the Marathon Copper and PGM deposit located near Marathon, Ontario.

The resource estimates for the BCF property as quoted from Marathon’s (TSX: MAR) press release dated October 9th, 2008 are as follows:

 Table 3. Resource Estimate for Benton Resources Corp. JV @ $6.63/tonne NSR Cut-Off -***-   -------------------------------------------------------------------------            P&E Oct 2008 Resource,  All Zones within Pit Shell   -------------------------------------------------------------------------   Category     Tonnes      Pd      Pt        Au       Cu     Ag       Rh              millions     g/t     g/t       g/t        %    g/t      g/t   -------------------------------------------------------------------------   Measured        3.8    0.94    0.28      0.11     0.29    2.3    0.004   -------------------------------------------------------------------------   Indicated       0.8    0.56    0.20      0.07     0.20    1.6    0.004   -------------------------------------------------------------------------   Measured +    Indicated      4.6    0.87    0.27      0.10     0.28    2.2    0.004   -------------------------------------------------------------------------   -------------------------------------------------------------------------   Inferred       0.02    0.56    0.19      0.07     0.17    1.7    0.003   -------------------------------------------------------------------------     ---------------------------------------------------------------                                Contained Metal     ---------------------------------------------------------------     Category      Pd oz   Pt oz   Au oz     Cu lb    Ag oz  Rh oz                    (000)   (000)   (000)  million     (000)  (000)     ---------------------------------------------------------------     Measured        115      34      13        24      281    0.5     ---------------------------------------------------------------     Indicated        14       5       2         4       41    0.1     ---------------------------------------------------------------     Measured +      Indicated      129      39      15        28      322    0.6     ---------------------------------------------------------------     ---------------------------------------------------------------     Inferred        0.4     0.1     0.1       0.1      1.1   0.01     --------------------------------------------------------------- -****- 

The global resources are the resources not constrained by the pit shell. They include the in pit resources as well those outside it. More favourable economic conditions can result in some of this material now not in the pit shell being included as economic conditions change for the better. This can occur when capital costs are paid back and operating cost are reduced or metal prices increase.

 -***- Table 4. Global Resource Estimate for Marathon Project and Benton Resources Corp. JV above $13.50/tonne NSR Cut-Off   -------------------------------------------------------------------------            P&E Oct 2008 Resource,  All Zones without Pit Shell   -------------------------------------------------------------------------   Category     Tonnes      Pd      Pt        Au       Cu     Ag       Rh              millions     g/t     g/t       g/t        %    g/t      g/t   -------------------------------------------------------------------------   Measured       72.2    0.82    0.24      0.09     0.30    1.8    0.006   -------------------------------------------------------------------------   Indicated      32.8    0.75    0.27      0.08     0.22    1.7    0.008   -------------------------------------------------------------------------   Measured +    Indicated    105.0    0.80    0.25      0.09     0.28    1.8    0.006   -------------------------------------------------------------------------   -------------------------------------------------------------------------   Inferred        5.1    0.55    0.21      0.08     0.21    2.1    0.006   -------------------------------------------------------------------------     ---------------------------------------------------------------                                Contained Metal     ---------------------------------------------------------------     Category      Pd oz   Pt oz   Au oz     Cu lb    Ag oz  Rh oz                    (000)   (000)   (000)  million     (000)  (000)     ---------------------------------------------------------------     Measured      1,903     557     209       478    4,178     14     ---------------------------------------------------------------     Indicated       791     285      84       159    1,793      8     ---------------------------------------------------------------     Measured +      Indicated    2,694     842     293       637    5,971     22     ---------------------------------------------------------------     ---------------------------------------------------------------     Inferred         90      34      13        24      344      1     --------------------------------------------------------------- Table 5. Global Resource Estimate for Marathon Project and Benton Resources Corp. JV between $6.63 & $13.50/tonne NSR Cut-Off   -------------------------------------------------------------------------            P&E Oct 2008 Resource,  All Zones without Pit Shell   -------------------------------------------------------------------------   Category     Tonnes      Pd      Pt        Au       Cu     Ag       Rh              millions     g/t     g/t       g/t        %    g/t      g/t   -------------------------------------------------------------------------   Measured        7.9    0.28    0.11      0.05     0.15    1.7    0.003   -------------------------------------------------------------------------   Indicated      12.6    0.31    0.14      0.05     0.13    1.4    0.004   -------------------------------------------------------------------------   Measured +    Indicated     20.5    0.30    0.13      0.05     0.14    1.5    0.003   -------------------------------------------------------------------------   -------------------------------------------------------------------------   Inferred        3.4    0.30    0.11      0.05     0.14    1.7    0.003   -------------------------------------------------------------------------     ---------------------------------------------------------------                                Contained Metal     ---------------------------------------------------------------     Category      Pd oz   Pt oz   Au oz     Cu lb    Ag oz  Rh oz                    (000)   (000)   (000)  million     (000)  (000)     ---------------------------------------------------------------     Measured         71      28      13        26      432      1     ---------------------------------------------------------------     Indicated       126      57      20        36      567      2     ---------------------------------------------------------------     Measured +      Indicated      197      85      33        62      999      3     ---------------------------------------------------------------     ---------------------------------------------------------------     Inferred         33      12       5        10      186    0.3     --------------------------------------------------------------- -****- 

1. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal title, taxation, socio-political, marketing, or other relevant issues.

2. The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

Agreement Terms of the BCF Property

Under the terms of the OJVA, Benton will grant Marathon the option (the “Option”) to earn a 60% participating interest in the BCF Property by (i) issuing Benton 120,000 common shares of Marathon on signing of the OJVA, subject to regulatory approval (ii) completing Work Expenditures on the BCF Property of $1.5 million per year during the first four Option years of the OJVA and an additional $2 million on or before the fifth anniversary and (iii) making cash payments of $500,000 per year on or before the anniversary date of the OJVA for the first three years (for a total $1.5 million). During the term of the Option (the “earn-in period”), all work will be supervised and carried out by Marathon. After Marathon has issued the 120,000 shares, made the $1.5 million cash payments and spent the $8 million, Marathon will have earned a 60% in the BCF Property and the JV will be formed with Marathon having a 60% interest and Benton a 40% interest.

During the earn in period Marathon may mine up to 200 metres north of its property into the BCF Property. If Marathon does mine any part of the BCF Property prior to formation of the JV, Marathon will (i) pay all costs, (ii) pay all underlying royalties owing on the BCF Property, (iii) pay an additional 2% NSR royalty to Benton and receive all revenue.

After the JV is formed Marathon will be operator of the JV and it is agreed that any project ore that is discovered on the BCF Property would be mined and processed by Marathon at its facilities. Under the JV, Marathon will charge the J.V for all direct, indirect and overhead costs including a pro rata charge to recover its capital costs as well as a 4% management fee.

About Benton Resources Corp.:

Benton Resources Corp. (the “Company”) is a mineral exploration company listed on the TSX Venture Exchange under the symbol BTC. Benton’s aggressive and experienced management team is focused on base and precious group metal exploration. The Company’s diverse property portfolio includes Canadian projects which are highly prospective for gold, platinum, palladium, nickel and copper. Benton currently has several significant carried Joint Ventures with companies such as Teck Cominco Limited, Stillwater Mining and Marathon PGM Corporation. Benton is currently trading under its cash value with a market capitalization of approximately $12 million and $18.5 million cash in working capital.

Cautionary Statement Regarding Forward-Looking Information:

Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking statements.” Forward-looking statements are frequently characterized by words such as “plan,”"expect,”"project,”"intend,”"believe,”"anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include but are not limited to those identified and reported in Management’s Discussion and Analysis for the year ended December 31, 2007. Circumstances or management’s estimates or opinions could change, and management disclaims any obligation to revise or update forward-looking statements, whether for new information, future events or otherwise. The reader is cautioned not to place undue reliance on “forward-looking statements.”

Reliance on Marathon PGM and Forward-Looking Statements

The information contained in this press release is a verbatim extract of the press release issued by Marathon PGM Corporation. Although Benton believes the information included in the press release to be generally reliable, the data has not been independently verified and Benton does not assume any liability for the accuracy or completeness of such information. Furthermore, as noted above in the verbatim extract, the press release may contain forward-looking information within the meaning of applicable securities laws. Such information includes the statements contained in the verbatim extract regarding Marathon PGM’s exploration and drilling plans, plans to update the mineral resource and the estimation of mineral resources and are subject to risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The risks include those that are set out above in the verbatim extract and those contained in public documents of Marathon PGM filed on SEDAR as well as the risks set out in Benton’s public documents including its management information circular and quarterly and annual management’s discussion and analysis. There is no assurance that the forward-looking information contained in the press release will prove to be accurate. Accordingly, readers should not place undue reliance on the forward-looking information.

All of the information contained in the press release is qualified by this cautionary statement.

Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.

On behalf of the Board of Directors of Benton Resources Corp.

"Stephen Stares" Stephen Stares, President 


Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.

Distributed by Filing Services Canada and retransmitted by Marketwire

 For further information contact Stephen Stares @: 611 Montreal Street Thunder Bay, ON P7E 3P2 Phone (807)475-7474 Fax (807)475-7200 www.bentonresources.com  Investor relations: In Canada: First Canadian Capital Daniel Boase Phone (416) 742 5600 Fax (416) 742 6410 In U.S.A: The Windward Agency Kelly Boatright Phone (704) 588 8600  

SOURCE: Benton Resources Corp.