Benton Updates on Noble Minerals Acquisition Agreement

Benton Resources (OTC:BNTRF) is seeking approval from the TSX Venture Exchange, according to a filing made on October 30, 2025, to acquire a 100% interest in Noble Mineral Exploration’s Island Pond Property.

The Island Pond Property comprises a single mineral license encompassing 7 claims (175 hectares), contiguous to Benton’s South Pond Gold Zone in the Great Burnt Copper-Gold project area. The consideration involves a $30,000 cash payment plus 1,000,000 common shares issued to Noble. These shares will be subject to a four-month hold period following Exchange approval.

The project comes with an underlying 2% Net Smelter Royalty (NSR) assumed by Benton, which includes a buyback right for $1.5 million, and a 1% NSR is granted to Noble with a right of first refusal. The deal was conducted at arm’s length, and no finder’s fees were paid.

Positive

Adds 175 hectares contiguous to South Pond Gold Zone

Acquisition grants 100% interest in Island Pond Property

Benton assumes NSR with a $1.5M buyback option

Negative

Consideration includes 1,000,000 shares, causing potential dilution

Project encumbered by combined 3% NSR (2% original + 1% to Noble)

10/30/2025 – 06:02 PM

Thunder Bay, Ontario – Benton Resources Inc. (TSXV: BEX), a mineral exploration company, announced its filing with the TSX Venture Exchange for the acquisition of a 100% stake in Noble Mineral Exploration Inc.’s Island Pond Property, adjacent to the Company’s South Pond Gold Zone within the Great Burnt Copper-Gold project area in Newfoundland. The terms include a $30,000 cash payment and the issuance of 1,000,000 common shares to Noble, contingent on Exchange approval.

The issued shares will be subject to a four-month hold period from the date of Exchange approval. The project also comes with an underlying 2% Net Smelter Royalty (NSR) and a 1% NSR to Noble. Benton will assume the rights and obligations of the original 2% NSR, including its right to buy back the NSR for $1.5 million, along with a right of first refusal for Noble’s 1% NSR.

The transaction, deemed an arm’s length agreement, involved no finder’s fees.

Stephen House (P.Geo.), the Vice President of Exploration for Benton Resources Inc. and a ‘Qualified Person’ under National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this announcement.

Benton’s QA/QC procedures involve submitting samples to Eastern Analytical Ltd. in Springdale, Newfoundland. Core and rock specimens undergo preparation and analysis, including the incorporation of standards, blanks, and duplicates. Analytical methods include Eastern’s Au (Fire assay) @ 30g + ICP-34 for a 34-element package, with overlimits analyzed using the atomic absorption method.

Benton Resources Inc. (TSXV: BEX) is a mineral exploration company with a diversified portfolio, actively expanding its Great Burnt Project in central Newfoundland. The Great Burnt Project has a Mineral Resource estimate of 667,000 tonnes @ 3.21% Cu Indicated and 482,000 @ 2.35% Cu Inferred. The Project covers 25km of strike and boasts six known Cu-Au-Ag zones over 15km and is actively pursuing its South Pond Gold Zone.

“Stephen Stares”
Stephen Stares, President

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.

FAQ

What did Benton announce on October 30, 2025 about BNTRF and Noble?

Benton filed to acquire 100% of the Island Pond Property from Noble for $30,000 cash plus 1,000,000 common shares, subject to Exchange approval.

How large is the Island Pond Property included in the BNTRF acquisition?

The Island Pond Property comprises 7 claims totaling 175 hectares and is directly adjacent to Benton’s South Pond Gold Zone.

What royalty encumbrances come with Benton’s BNTRF purchase of Island Pond?

The project is subject to a 2% NSR to the original vendor (assumed by Benton) and a 1% NSR to Noble, for a combined 3% NSR.

What buyback or ROFR terms affect BNTRF’s new NSR obligations?

Benton assumes the original 2% NSR with the right to buy it back for $1.5M, and Noble retains a right of first refusal on its 1% NSR.

When will the 1,000,000 BNTRF shares issued to Noble be tradable?

The issued shares will carry a standard four-month hold period measured from the Exchange approval date.

What QA/QC and assay methods did Benton disclose for BNTRF samples?

Samples were submitted to Eastern Analytical (ISO/IEC 17025) using Au fire assay @30g + ICP-34 with overlimits by atomic absorption; all assays reported are uncut.