TSXV: BEX (807) 475-7474 Facebook Twitter Linkedin BEX.V 0.16 0.00 0.00% View presentation BARK AND BARIL LAKE WEST PROJECTS You are here: HomeProjectsBark and Baril Lake West… Bark and Baril Lake West Projects: Advanced by Rio Tinto Canada Benton has executed an option to joint venture agreement with Rio Tinto Exploration Canada Inc. on the Bark Lake project. Under the terms of the Option, Rio Tinto can earn a 70% interest by incurring $3 million in exploration expenditures and by paying Benton $50,000 cash over 5 years (the “First Option”). After the First Option period, RTEC may either form a joint venture with Benton on a 70/30 basis or, at its election, increase its interest to 80% (the “Second Option”) by spending an additional $5 million in exploration expenditures over 4 years and by paying Benton $100,000 cash within 30 days after electing to exercise the Second Option. Upon exercising the Second Option, RTEC may elect to form a joint venture with Benton on an 80/20 basis. The Bark Lake property is host to a number of platinum (Pt), palladium (Pd), gold (Au), copper (Cu) and nickel (Ni) showings contained in mineralized ultramafic rock either in outcrop or dozens of mineralized boulders. The mineralized occurrences are situated along the Quetico Fault, a major crustal-scale east west oriented structure. Grab samples have returned grades up to 4.35gpt Pd, 2.64gpt Pt, 0.74gpt Au, 1.2% Cu, 0.5% Ni by Hackl Prospecting. Samples collected by Benton personnel have confirmed significant precious and base metals across the project area. More recent sampling has returned individual assays grading up to 1.5% Nickel, 1.2% Copper, 2.6 gpt Pt, 1.4gpt Pd and 0.7gpt Au. Twelve out of the 16 samples taken from the area returned results higher in Platinum than Palladium. Also of particular interest was the discovery of several semi-massive, net-textured sulphide boulders, with one measuring around 1 cubic metre in size and assaying 1.5% Ni. The boulders are angular in nature and believed to be located very close to source. In order to determine the source of the high-grade boulders, Benton carried out an extensive exploration program on the property including line-cutting, ground magnetics, ground IP, geological mapping and prospecting. The Mag and IP survey helped to define an ultramafic intrusion to the north of the property. Drill targets were defined based on the geophysical interpretation and Benton intersected the ultramafic intrusion in holes BL-08-04 and BL-08-05. Mineralization was present in these intersections but not to the same degree as in the boulders. Intersections were as follows: The Bark Lake property consists of mining claims in the Boot Bay Area, Northwestern Ontario, all of which are wholly owned by Benton. Subsequent drilling completed by RTEC in 2018 on the Bark Lake project encountered mineralization of 0.31% Cu and 0.72gpt Pt + Pd over 19.2m (see PR: Benton Receives Results from Rio Tinto on Bark Lake Option, dated May 25, 2018). Benton has also entered into an option to purchase agreement with Rio Tinto Exploration Canada Inc. whereby RTEC will have the right to earn a 100% interest in Benton’s Baril Lake West claims located approximately 5km west of Benton’s Bark Lake project which is currently under option to RTEC. Pursuant to the terms of the agreement, RTEC can earn 100% of the Baril project by paying Benton $200,000 over 4 years and should RTEC achieve commercial production at the project, will pay Benton an additional $1,000,000. The Company will also retain a 2% Net Smelter Royalty (NSR), half of which (1%) can be purchased by RTEC for $1,000,000. The Company considers the Baril Lake project to be a favourable setting to potentially host copper-nickel and platinum group metals. Drilling completed by RTEC on it 100%-owned Baril Lake Project located approximately 700m east of Benton’s Baril Lake West had discovered a new significant mineralized zone grading 4.78%Ni and 0.43% Cu over 2.08m in 2018 (Ontario ENDM Assessment File: 200000017073). Bark and Baril Property Locations Latest News Benton Advised that Clean Air Metals Announces a PEA of the Current and Escape PGE-Cu-Ni Deposits of the Thunder Bay North Project, with Post-Tax NPV(5) of C$378m, IRR 29.8% December 1, 2021 Benton Options High Grade VMS-Gold Project, Central Newfoundland November 29, 2021 Benton and Sokoman Announce Gold Discovery at the Grey River Gold Project, Southern Newfoundland November 25, 2021 Contact info Stephen Stares, President & CEO sstares@bentonresources.ca / (807) 475-7474 Cathy Hume, Investor Relations cathy@chfir.com / (416) 868-1079 x 231 Fax (807) 475-7200 Address 684 Squier St Thunder Bay, ON P7B 4A8 Find us on: Facebook Twitter Linkedin Subscribe to our Newsletter Email * required First Name Last Name © Benton Resources - 2018-2021. All rights reserved.