Benton Advised That Killick Lithium Project Announces Academic Research Partnership with Research Grants Awarded Totaling $1.32 Million over 3 Years

Rhea-AI Summary

Benton Resources announced an academic partnership for the Killick Lithium Project in Newfoundland. The project, which began on April 1, 2024, has been awarded $1.32 million in research grants over three years by NSERC. The research aims to understand the origin of lithium resources in the region. The collaboration involves St. Francis Xavier University and Memorial University, along with contributions from Sokoman Minerals, Piedmont Lithium, and the Geological Survey of Newfoundland and Labrador. The research will provide training opportunities for students in field methods and data collection. The project aligns with Canada's Critical Minerals Strategy, aimed at boosting the supply of critical minerals for the green and digital economy.

Positive

• Received $1.32 million in research grants from NSERC.
• Collaboration with reputable academic institutions and industry partners.
• Project aligns with Canada's Critical Minerals Strategy, offering long-term growth potential.
• Opportunities for student training in field methods and scientific research.

Negative

• Competitive and multidisciplinary research may take time to yield actionable results.
• No immediate financial gains or commercial outputs announced.

Thunder Bay, Ontario--(Newsfile Corp. - June 19, 2024) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to report that the Killick Lithium Property, jointly owned by the Company, Sokoman Minerals Corp. ("Sokoman"), and Piedmont Lithium Inc. ("Piedmont") through Vinland Lithium Inc., will be collaborating in a total of $1.322 million in NSERC (Natural Sciences and Engineering Research Council of Canada) grants to conduct research studies on the Killick Lithium Property in southern Newfoundland. The three-year project entitled; "The origin of lithium resources in Southern Newfoundland", began April 1, 2024. The work is led by researchers from St. Francis Xavier University in Nova Scotia and Memorial University of Newfoundland. Additional contributions from partner organizations will include staff and resources from Sokoman, Benton and Piedmont, as well as geoscientists from the Geological Survey (Government of Newfoundland and Labrador). The grant was awarded by the NSERC Alliance Missions Grants special call for projects related to Critical Minerals Research. To increase the supply of responsibly sourced critical minerals and support the development of domestic and global value chains for the green and digital economy, Canada's Critical Minerals Strategy was released in December 2022 with the intent of continuing to provide foundational support to Canada's mining sector to take advantage of existing and emerging opportunities. Among the 31 minerals that Canada considers critical, Canada's Critical Minerals Strategy identified six minerals (including lithium) which were initially prioritized for their distinct potential to spur Canadian economic growth and their necessity as inputs for priority supply chains.

More information about the program can be found here: https://www.nserc-crsng.gc.ca/Innovate-Innover/AllianceMissions-MissionsAlliance/CFP-ADP/CMR-RSLMC/Index_eng.asp

A key benefit of this research will be the opportunity for research students to receive academic training and apply their knowledge to an active exploration project. The students will be trained in field methods, data collection techniques, and scientific communication - highly sought after skills required for qualified geoscientists to undertake mineral exploration and geoscience research on critical mineral systems in Canada.

Timothy Froude, P. Geo., President and CEO of Sokoman Minerals states; "We are thrilled this academic collaboration was awarded this substantial amount of funding directed towards the understanding the lithium and associated critical minerals systems we discovered on the Killick Lithium Project. It's the type of work that rarely gets performed on mineral discoveries as most of the funds raised and spent in the normal course of the vast majority of exploration projects, is focused on delivering assays and drill results to the market. To add the in-depth research that the teams led by Dr. Donnelly Archibald at St. Francis Xavier University; Drs Eric Thiessen and David Lowe at Memorial University, in harmony with the partner organizations, will certainly aid in our search for additional lithium and associated critical minerals at Killick as well as regionally."

Stephen Stares, President and CEO of Benton states, "We are elated that such a highly skilled team of professionals will assist in advancing the understanding of our discovery through the critical metal's initiatives set forth by our various institutions. We look forward to the findings in our collective participation."

The main research objective is to better understand the geological controls on the formation of lithium-rich rocks in southern Newfoundland to better inform exploration targeting practices and promote lithium discovery. Addressing this primary objective involves a multidisciplinary investigation into (i) the processes controlling the transport of lithium from its source to host rocks, (ii) the magmatic emplacement processes that resulted in the formation of the lithium-rich rocks, (iii) the lithium source(s), (iv) structure and deformation that controls the present expression of lithium-rich rocks, and (v) the character and extent of associated metamorphic aureoles. The combination of field work, mineralogy, geochronology, geochemistry, structural geology, regional geology, tectonics, sedimentology, and economic geology will yield a holistic model for the evolution of lithium pegmatite systems. Taken together, the new data and interpretations coupled with the spatiotemporal relationship of regional geological context will help us to understand the petrogenesis of lithium pegmatites in southern Newfoundland.

QP

Stephen House (P.Geo.), Vice President of Exploration for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.

About Benton Resources Inc.

Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.

Benton is focused on advancing its high-grade Copper-Gold Great Burnt Project in central Newfoundland, which has a Mineral Resource estimate of 667,000 tonnes @ 3.21% Cu Indicated and 482,000 @ 2.35% Cu Inferred. The Project has an excellent geological setting covering 25km of strike and boasts six known Cu-Au-Ag zones over 15km that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil anomalies. Phase 1 and 2 drill programs returned impressive results including 25.42 m of 5.51% Cu, including 9.78 m of 8.31% Cu, and 1.00 m of 12.70% Cu.

On behalf of the Board of Directors of Benton Resources Inc.,

"Stephen Stares"
Stephen Stares, President

Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.

For further information, please contact:

Stephen Stares, President & CEO
Phone: 807-474-9020
Email: sstares@bentonresources.ca

Nick Konkin, Investor Relations
Phone: 647-249-9298 ext. 322
Email: nick@grovecorp.ca

Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213564

FAQ

What is the Killick Lithium Project?

The Killick Lithium Project is a joint venture by Benton Resources, Sokoman Minerals, and Piedmont Lithium to explore lithium resources in southern Newfoundland.

How much funding did the Killick Lithium Project receive?

The project received $1.32 million in research grants from NSERC over three years.

When did the Killick Lithium Project begin?

The project began on April 1, 2024.

Who are the academic partners in the Killick Lithium Project?

St. Francis Xavier University and Memorial University are the primary academic partners.

What is the objective of the Killick Lithium Project?

The main objective is to understand the geological controls on the formation of lithium-rich rocks in southern Newfoundland to better inform exploration practices.

What stock symbol is associated with Benton Resources?

Benton Resources is associated with the stock symbol BNTRF.