Benton Resources Drilling Continues to Delineate the South Pond Gold-Copper Deposit with Shallow - Wide Intercepts

The news release dated October 30, 2025, from Benton Resources Inc. announces continued drilling results from its South Pond Gold-Copper Deposit, which is part of the Great Burnt Project. The drilling aimed to delineate the continuity of mineralization along a 2.7 km gold-copper horizon. Key highlights from seven reported holes (SP-25-35 to SP-25-41) include: - SP-25-35: 0.6 g/t Au over 19.0 m and 0.73 g/t Au over 10.0 m. - SP-25-36: 1.01 g/t Au over 11.35 m. - SP-25-37: 1.13 g/t Au over 16.0 m. - SP-25-38: 1.11 g/t Au over 15.4 m. - SP-25-39: 0.26 g/t Au over 20.0 m. - SP-25-40: 0.42 g/t Au over 1.0 m. - SP-25-41: 0.51 g/t Au over 2.2 m. The company noted that step-out holes SP-25-40 and SP-25-41, located 340m and 190m north of the deposit, confirmed the continuation of gold mineralization. True widths are estimated to be approximately 90% of reported core lengths. The CEO emphasized confidence in the Great Burnt and South Pond deposits' potential for "excellent results" and highlighted continuous mineralization over a large area.

The latest drilling results from the South Pond Gold-Copper Deposit confirm geological continuity and extend the known gold mineralization to the north, which is a positive outcome for resource definition and expanding the overall footprint of the deposit. This systematic delineation is a crucial step in the exploration process for a junior mining company.

However, a critical review of the reported gold grades (ranging from 0.26 g/t Au to 1.13 g/t Au) reveals that they are generally lower than some of the more impressive high-grade and wide intercepts previously announced for the South Pond zone. For example, earlier news releases reported grades such as 1.88 g/t Au over 54.50 m, 1.43 g/t Au over 74.20 m, and 1.62 g/t Au over 43.75 m. While the current intercepts are described as "shallow - wide," they do not represent a significant increase in the tenor of the mineralization or a new high-grade discovery beyond what has already been established.

Therefore, while the news is constructive for advancing the project's understanding and proving continuity, it does not materially alter the overall investment thesis in a way that would warrant a substantial re-rating of the stock. It aligns with expected exploration progress rather than exceeding expectations with a game-changing discovery. The market reaction, with the stock price remaining stable at $0.08 following the news, further suggests a routine, rather than materially positive, interpretation by investors.

Benton Resources Inc. (BEX) is a Canadian junior mineral exploration company operating out of Thunder Bay, Ontario. The company employs a "project generator" business model, which involves acquiring prospective mineral properties, conducting initial grassroots exploration, and then either advancing these projects independently or forming joint ventures and spinning out assets to other companies. Benton typically retains an equity stake and/or net smelter royalties (NSRs) from such arrangements.

Flagship Project: The Great Burnt Copper-Gold Project in Central Newfoundland, Canada, is Benton's primary focus. Benton holds a 70% interest in this project, with Homeland Nickel Inc. holding the remaining 30% and funding its pro-rata share of exploration costs. - Great Burnt Copper Deposit (GBCD): This component of the project hosts an Indicated Mineral Resource of 667,000 tonnes at 3.21% Cu and an Inferred Mineral Resource of 482,000 tonnes at 2.35% Cu. Recent drilling has expanded the Great Burnt Main Zone (GBMZ) down plunge to a 950m strike length, with significant high-grade copper intercepts reported. - South Pond Gold-Copper Zone (SPGCZ): Located approximately 7.5 km north of the GBCD, this zone has been extended to a 2.7 km strike length through drilling and surface sampling. It is open for expansion and has yielded robust gold mineralization at shallow depths, including wide intercepts such as 74.20 m of 1.43 g/t Au and 54.50 m of 1.88 g/t Au. The company's exploration model suggests a structurally thickened mineralized sequence potentially amenable to shallow open-pit mining.

Other Key Projects & Investments: - Dominion Lake Project (Newfoundland): A multi-commodity project where Benton has made new gold discoveries (e.g., Rickirb zone, up to 6.41 g/t Au) and identified base metal (VMS) occurrences (e.g., Trinity zone, up to 14.6% Zn). - Stoney Caldera Project (Newfoundland): A recently staked property showing high-grade copper and gold occurrences from initial grab samples. - Island Pond Property (Newfoundland): Acquired to potentially extend the South Pond trend northward. - Vinland Lithium Inc.: Benton spun out approximately 2 million of its 4 million Vinland Lithium shares to its shareholders in April 2025, retaining 2 million shares. Vinland holds the Killick Lithium Project, with Piedmont Lithium Inc. having an option to earn a significant interest. - Clean Air Metals Inc.: Benton holds 24.6 million shares (9.8%) and a 0.5% NSR on Clean Air's Thunder Bay North Project. - Other Equity Holdings: Investments in Quadro Resources Ltd., Sokoman Minerals Corp., and Renegade Gold Inc.