THUNDER BAY, ON, Sept. 5, 2012 /CNW/ - Benton Capital Corp. (TSXV: BTC) is pleased to announce the following corporate update for
Benton Capital Corp. ("Benton" or the "Company") holds approximately
57.87 million shares in Coro Mining Corp. ("Coro") (TSX: COP) which
constitutes approximately 41.84% of Coro's issued capital. Coro is a
Vancouver based copper exploration company with early stage and
advanced projects located in South America.
Based on its holdings of Coro, the shares of Benton currently trade at a
significant discount relative to the capitalized value of Coro's issued
shares. Accordingly management of the Company would like to provide a
summary of both Coro's and the Company's assets and near term plans:
Benton market capitalization of approximately $7.6 million based on a
$0.10 trading price per share;
Current value of Coro holdings (57.8 million shares) of approximately
$17.4 million based on current trading price of Coro;
Coro's Berta project located near large producers with excellent
Approximately $730,000 cash in Benton's treasury with an extremely low
Coro currently completing a resource estimate on its Berta copper
project in Chile;
Coro currently drilling on new high potential copper prospect at El Inca
project in Chile;
Coro currently negotiating EIS approval for San Jorge copper/gold
deposit in Argentina;
Benton currently planning work program to advance the Goodchild
Copper-Nickel-PGM project located 5km NE of Stillwater Mining's
Marathon Copper-PGM deposit currently being permitted for production
Stephen Stares, Company President and CEO commented "We are frustrated
that the Company is trading at such a large discount to its net asset
value but we believe long time shareholders will be rewarded as Coro
advances their excellent property portfolio in Chile and Argentina, the
Company advances its Goodchild property in Ontario and continues to
evaluate other opportunities to enhance shareholder value.
In addition Benton has granted 2.025 million stock options exercisable
at $0.15 for a period of 5 years to officers, directors, employees and
consultants of the Company.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the
qualified person responsible for this release.
On behalf of the Board of Directors of Benton Capital Corp.,
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.
SOURCE: Benton Resources Corp.
For further information:
contact Stephen Stares @:
3250 Highway 130,
Rosslyn, ON P7K 0B1
Clair Calvert: @ 204-799-2086