|By Marketwired .||
|December 9, 2013 01:19 PM EST||
THUNDER BAY, ONTARIO -- (Marketwired) -- 12/09/13 -- A Correction from Source is issued with respect to the release issued earlier today at 10:26 AM ET. In the first paragraph, "Great Atlantic Resources Corp" has been changed to "Hunan Nonferrous Corp.", and the corrected release follows.
Benton Resources Inc. (TSX VENTURE: BEX) ("Benton" or "the Company") is pleased to announce that it has acquired by staking a 100% interest in 28 claim units located 2.5km NE of the Beaver Brook Antimony mine and 64 claim units 9km to the SW of the Mine. These new claims cover the favorable stratigraphy that hosts the Beaver Brook antimony deposit in central Newfoundland. Hunan Nonferrous Corp. shut down Beaver Brook, the only antimony mine in North America, in December of 2012 citing lack of ore. Recent literature in the public domain suggests that current global reserves of antimony will be depleted during the next decade. Applications for antimony include fire retardants, acid car batteries, anti-friction bearings and other metallic alloys, glass and pharmaceuticals. The flame retardant and lead-acid battery sectors accounted for 80% of all use of the metal in 2010. Currently, China dominates the world market in antimony similar to the rare earth metals sector. Benton is planning to complete a modest soil geochemical survey and prospecting program which will be completed by Benton team member Calvin Keats, one of the prospectors responsible for the discovery of the Beaver Brook antimony deposit.
Stephen Stares, President and CEO commented, "While Benton remains focused on advancing our Cape Ray project towards production, we are continually looking for cost effective opportunities to acquire strategically favourable claims in close proximity to former producing assets in mine-friendly jurisdictions. We feel this project encompasses those attributes and will actively seek a partner to assess the project's potential."
About Benton Resources Inc. (TSX VENTURE: BEX)
Benton Resources Inc. is a newly listed Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements. The Company is well funded with approximately $7.2 million in cash and $0.7 million in marketable securities.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
Benton Resources Inc.
(807) 475-7200 (FAX)