Brutus Mining to Acquire the Bay of Islands Hydrogen Project

Benton Resources Inc. (BEX) released high-grade gold channel sampling results from its Dominion Project on October 8, 2026, focusing on the Quinlan and Rickirb zones. The data included 6.59 g/t Au over 6.0 m, which contained a higher-grade interval of 37.87 g/t Au over 1.0 m. Grab samples from the Rickirb zone returned values as high as 79.1 g/t Au.

The company also reported that 159 channel sample results remain outstanding across the Ellie, Rickirb, and Quinlan zones, with both the Quinlan and Rickirb areas considered drill-ready. In a separate update regarding the Great Burnt project spinout, Benton Resources provided a progress report on the venture, which is valued at $15.0 million and backed by $10.0 million in financing.

Additionally, Benton Resources continues to advance early-stage hydrogen and helium soil gas sampling at its Smoking Gun and Parson's Pond projects. These efforts follow historical anomalies and recent preliminary results that showed hydrogen concentrations of up to 900 ppm.

Separately, on November 5, 2026, Brutus Mining Inc. announced a property option agreement to acquire the Bay of Islands Hydrogen Project in Western Newfoundland. This announcement is unrelated to Benton Resources.

Bruton Mining’s November 5, 2026 release has no material impact on Benton Resources Inc. (BEX), as the announcement involves a separate corporate entity and an unrelated transaction.

Benton’s October 8, 2026 channel sampling results represent an incremental follow-up to prior trenching and sampling programs announced in August and September 2026. While the high-grade surface intercepts are positive, they are routine for early-stage exploration and do not constitute a resource definition or an immediate development catalyst.

The Great Burnt spinout and concurrent $10.0 million financing, announced in July 2026, are proceeding as planned. This transaction serves as a strategic value-unlocking mechanism rather than unexpected market-moving information.

No genuinely new, unexpected, or market-moving information is present in the provided releases. The exploration updates and corporate restructuring progress align with previous management guidance and historical project timelines.

Benton Resources Inc. (BEX) is a pre-revenue junior exploration company focused on high-grade copper, gold, base metals, and emerging natural hydrogen and helium assets in Newfoundland, Canada. The company’s flagship projects include the Great Burnt copper-gold VMS system, the South Pond gold-copper deposit, and the Dominion project, which hosts high-grade gold and VMS base metals.

The Great Burnt project contains an indicated resource of 667,000 tonnes at 3.21% copper. The South Pond deposit holds an indicated resource of 214,000 tonnes at 1.26% copper equivalent.

Benton Resources is strategically pivoting to unlock value by spinning out the Great Burnt project into a separate public entity. Under the terms of the spin-out, the company will retain a 5% equity stake and a 1% uncapped net smelter return royalty. Management, led by CEO Stephen Stares, emphasizes capital conservation, targeted exploration, and leveraging Newfoundland's prospective geology and government support.