Trading Symbol: RRO - TSX-V
Shares Outstanding: 112,127,490
HALIFAX, May 8 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads") and
Benton Resources Corp. (BTC-TSX-V) ("Benton") are pleased to announce that
both companies have increased their respective interests in the Long Range
Nickel joint venture in central Newfoundland to 50% as a result of the
departure of Golden Dory Resources Ltd. who formerly held a 20% interest. Each
of Royal Roads and Benton will increase its share of funding by $25,000 to
maintain the previously budgeted program of $250,000 on this highly
prospective nickel-copper project.
The Long Range project consist claims totaling 222 km2 in central
Newfoundland and covers a 5 x 20 km gabbroic complex, recently recognized as
being prospective for nickel-copper-sulphides. The 2009 program includes
prospecting, ground geophysical surveys and diamond drilling designed to
follow-up conductive anomalies identified by airborne geophysical surveys
completed by Geotech Ltd. in 2008. Among the targets to be evaluated is a 600
metre long VTEM conductive anomaly described by Geotech Ltd. as "a relatively
strong conductor consistent with massive sulphides". This target has been
selected for testing by diamond drilling late this summer and it is
anticipated that additional drill targets may be developed from results of
prospecting and ground geophysical surveys to be completed in advance of the
Approximately 30 conductive anomalies have been selected for ground
follow-up, including anomalies identified near a recently discovered
nickel-copper sulphide showing where prospecting identified gabbro containing
disseminated, magmatic-textured, pentlandite, chalcopyrite and pyrrhotite.
Assays from the showing yielded anomalous nickel and copper values of up to
0.28% Ni and 0.36% Cu. Based on these results, it is postulated that any
potential nearby massive sulphide accumulation could host nickel and copper
grades comparable to other magmatic nickel sulphide deposits in North America
including Vale-Inco's Voisey's Bay mine in Labrador and Kennecott's Eagle
deposit in northern Michigan.
The property is located close to infrastructure including a 15 MW
hydroelectric facility 25 km northeast of the claims. Power lines connecting
the facility to the provincial grid cross the property. A paved highway also
traverses the property and provides access to port facilities 50 km to the
west. The area is considered receptive to mining, as it is located less than
65 km southwest of Buchans, one of the province's longest established mining
Royal Roads is the project operator and controls 50% interest in the
property while Benton controls the remaining 50%. The property is subject to
net smelter royalties of up to 2%, of which 1% can be purchased for $1
million. Portions of the property are also subject to underlying option
agreements requiring cash payments and share issuances for the joint venture
to earn a 100% interest.
Paul Moore, M.Sc., P.Geo., (NL), Royal Road's Vice President of
Exploration, is acting as Qualified Person in compliance with National
Instrument 43-101 with respect to this release and has reviewed the contents
for accuracy. Analyses referred to herein are from rock samples collected and
submitted by prospectors holding underlying rights and royalties on the joint
venture property. All assays were completed by Eastern Analytical Limited of
Springdale, Newfoundland by the ICP (Inductively Coupled Plasma Optical
Emission Spectroscopy) method (ICP-30) for Cu and Ni and Ore Grade Assay for
Ni by the atomic absorption (AA) method. ICP analyses were completed using a
0.500 g sample digested in nitric and hydrochloric acid. Ore Grade Assays (Ni)
were completed using a 0.200 g sample digested in nitric and hydrochloric
About Royal Roads
Royal Roads is a resource company based in Halifax, Nova Scotia, Canada
and is focused on exploring and developing mineral properties in the famous
historic Buchans mining camp in central Newfoundland, Canada. Royal Roads also
controls several exploration properties outside of Buchans, including several
under joint venture to Prominex Resource Corp. and Playfair Mining Ltd.
Acadian Mining Corporation (ADA-TSX) owns 29.18% of Royal Roads. Acadian
Mining is a Halifax based mining company that owns a zinc-lead mine at Gays
River, Nova Scotia which is currently being placed on care and maintenance,
and is exploring and developing gold, zinc-lead, and barite properties in
Atlantic Canada. For additional information on Royal Roads' properties and
activities, please visit www.royalroadscorp.ca.
About Benton Resources
Benton Resources is a mineral exploration company with an aggressive and
experienced management team focused on base and precious metal exploration.
Benton's diverse property portfolio includes Canadian projects which are
highly prospective for gold, uranium, platinum, palladium, nickel and copper.
Benton currently has approximately $14 million in working capital and owns 34%
interest in Coro Mining Corp as well as approximately 5% of Marathon PGM Corp.
In addition, Benton has joint ventured several of their projects to major and
junior companies. For additional information on Benton's properties and
activities, please visit www.bentonresources.ca.
Forward Looking Statements
Certain information contained herein may constitute forward-looking
statements within the meaning of applicable securities laws. Forward-looking
statements may include estimates, plans, expectations, opinions, forecasts,
projections, guidance or other statements that are not statements of fact.
Although Royal Roads and Benton (the "Companies") believe that the
expectations reflected in such forward-looking statements are reasonable, they
can give no assurance that such expectations will prove to have been correct.
The Companies caution that actual performance will be affected by a number of
factors, many of which are beyond their control, and that future events and
results may vary substantially from what the Companies currently foresee. The
Companies' forward-looking statements are expressly qualified in their
entirety by this cautionary statement.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Royal Roads Corp.: Will Felderhof, President &
CEO; David Felderhof, Vice-President, (902) 444-3637, Halifax, Nova Scotia,
www.royalroadscorp.ca; Benton Resources Corp.: Stephen Stares, President &
CEO, (807) 475-7474, Thunder Bay, Ontario, www.bentonresources.ca