Benton to acquire Island Pond from Noble

Benton Resources announced on October 14, 2025, that it has acquired a 100% interest in the Island Pond Property from Noble Mineral Exploration Inc. The consideration for the acquisition is $30,000 in cash and 1,000,000 common shares. The property is subject to a pre-existing 2% Net Smelter Royalty (NSR), of which Benton can purchase half (1%) for $1.5 million, and a new 1% NSR granted to Noble, on which Benton holds a Right of First Refusal.

Strategically, the Island Pond Property is located directly on strike to the north of Benton's South Pond Gold Zone, potentially extending the mineralized trend by over 1,000 meters beyond its current 2.7 km length. Benton plans immediate prospecting and geophysics on the new claims.

The news release also includes a summary table of drill results from the South Pond Gold Zone, reiterating previously announced intercepts from its 23,300-meter drill program conducted from late 2023 to present.

The acquisition of the Island Pond Property is a logical, low-cost tactical move to consolidate the land package along a prospective trend. The total consideration is approximately $120,000 (based on a $0.09 share price), which is minor for the company. While strategically sound, the acquisition adds exploration potential rather than demonstrated value, as the ground is unexplored. The addition of a 1% NSR to Noble, on top of the existing 2% NSR, creates a significant royalty burden on this new ground, although this is common for exploration properties.

Critically, the exploration drilling update included in the press release is a reiteration of previously disclosed results from as far back as October 1, 2025. This rehashing of old news has no new material impact and appears to be a method to add substance to an otherwise minor announcement.

Overall, the acquisition is a minor positive as it expands the company's footprint on a key trend at a low cost. However, it does not materially change the company's financial position or the immediate prospects of its flagship project. The inclusion of old data dilutes the impact of the news. Therefore, the event is classified as non-material.

Benton Resources Inc. is a Canadian-based junior mineral exploration company. Its primary asset is the Great Burnt Copper-Gold Project in central Newfoundland, where it has earned a 70% interest with Homeland Nickel holding the remaining 30%. The project contains the high-grade Great Burnt copper deposit, which has an existing NI 43-101 resource estimate from 2022 (Indicated: 667,000 tonnes @ 3.21% Cu; Inferred: 482,000 tonnes @ 2.35% Cu). Benton has been aggressively drilling since late 2023 to expand this resource. The project also hosts the South Pond Gold Zone, a 2.7 km long gold-mineralized trend that the company is actively exploring.