Benton Resources' High-Grade Copper Discovery Poised for Growth, Financing Sets Up Aggressive 2024 Drill Campaign

• Benton Resources is advancing the Great Burnt copper project in central Newfoundland, Canada
• The company recently announced a $3 million placement at $0.15, with a European institution taking a 9.9% stake
• Drilling has hit high-grade copper intervals lik 18.2m @ 7.18% Cu and 25.4m @ 5.5% Cu; resource is open for expansion
• Exploring 6 other historical zones on the property this summer via drilling, trenching, sampling
• Copper recoveries of 83-86% achieved in preliminary metallurgical testing by previous operator

Benton Resources (TSXV:BEX) presents a compelling copper exploration and development opportunity through its flagship Great Burnt project in the mining-friendly jurisdiction of Newfoundland, Canada. With the green energy transition accelerating demand for key metals like copper, Benton's high-grade discovery is well-timed to capitalize on strengthening copper fundamentals. A $3 million financing backed by a European institution will underscore the project's potential as Benton ramps up exploration to expand the resource in 2024.

High-Grade Copper Discovery

The Great Burnt copper project boasts an existing resource of just over 1.1 million tonnes grading over 2.5% copper based largely on historical drilling. However, recent drilling by Benton and former partner Spruce Ridge Resources has revealed a higher-grade core to the system not well-defined by previous operators.

Benton's Phase 1 program in late 2022, encompassing 5,600m over 22 holes, returned spectacular copper intercepts including 18.2m @ 7.18% Cu and 25.4m @ 5.5% Cu.

CEO Stephen Stares commented, "When you hit these type of world-class intercepts, one seems to really think that there could be something very special about a high-grade deposit."

Importantly, the deepest hole drilled to date, 50m down-plunge from previous drilling, cut 5m @ 1.75% Cu, demonstrating the system remains open for expansion. Benton will focus on stepping out to depth and along strike to determine the ultimate scale of the high-grade mineralization.

Interview with President & CEO Stephen Stares

Well-Funded for Resource Growth

Benton recently arranged a $3 million private placement at $0.15 per unit, with a European institution taking a 9.9% stake in the company. The financing brings in a high-quality, long-term shareholder while providing the capital to aggressively advance Great Burnt.

Stares explained the investor interest:

"I believe they see an opportunity in this high grade copper deposit that was previously not recognized. Getting in at these levels is a clear indication of where this beautiful deposit and project can go."

With the $3 million working capital, Benton will be fully funded for the major exploration program in 2024 aimed at expanding the resource through step-out drilling and testing new targets.

Multiple Avenues to Add Value

In addition to growing the main resource area, this summer's exploration will test another six historically drilled prospects at Great Burnt for the first time with modern methods. These include the South Pond copper-gold zone which has a historical resource of 250,000 tons grading 1.5% copper and 1.5 g/t gold.

Stares noted, "If it's any indication to what we're hitting in the new drilling at Great Burnt with the bigger grade and bigger thicknesses, we're really excited about getting up on that old deposit that was not touched since 1970 and re-drilling that resource and chasing it further down-plunge."

Cost-effective exploration methods including shallow drilling, trenching, prospecting, and sampling will be employed on these regional targets to quickly assess their potential and generate new discoveries across the 25 km long property package.

Applying Cutting-Edge Geophysics

Benton is employing advanced geophysical techniques to optimize drill targeting as it steps out on the main zone and explores the broader property. The company has engaged renowned geophysicist Alan King, who has played an integral role in major discoveries for companies like Inco and Vale at Voisey's Bay and Sudbury.

Benton will utilize borehole EM surveys on both new and historical holes to detect "superconductors" - strong conductors that can be indicative of significant sulfide accumulations. Stares explained, "We've pinpointed the type of geophysics we need because these seem to be what they call superconductors. Using various new technologies, we can now identify these superconductors for further targeting."

This state-of-the-art approach will maximize the odds of success as Benton drills to grow the resource and make new discoveries.

Promising Metallurgy

While still early-stage, preliminary metallurgical testing by former partner Spruce Ridge indicates the potential for strong copper recoveries at Great Burnt. Bench-scale work achieved copper recoveries of 83-86% using standard flotation methods.

Although more extensive studies are required as the project is advanced, the initial met results are highly encouraging for the future economic extraction of copper at Great Burnt. Benton will expand on this metallurgical work as the resource grows.

Conclusion

Rarely does the market have an opportunity to invest in a high-grade copper discovery at such an early stage, with clear potential to build tonnage and strong shareholder backing. Benton Resources offers pure-play exposure to copper in a top mining jurisdiction at an attractive valuation.

With an aggressive, fully-funded exploration program about to commence, Benton is an exploration company to watch in 2023. Positive drill results could quickly put Great Burnt on the map as a significant new copper discovery in Canada.

Investment Thesis for Benton Resources

• High-grade copper resource (2.5% Cu) open for expansion in all directions
• Hitting spectacular intervals near-surface (20-24m @ 5.5% Cu)
• New strategic investor validates potential; fully funded for big 2023 program
• Six untested regional prospects offer additional discovery upside
• Experienced team using advanced geophysics to optimize targeting
• Strong preliminary metallurgy (83-86% Cu recoveries)
• Exposure to rising copper price on green energy/EV adoption
• Attractive entry point for a developing high-grade copper story in top jurisdiction

Benton Resources provides a unique opportunity to gain leveraged exposure to a high-grade copper discovery at an early stage in a world-class jurisdiction. With a strategic funding partner, top technical talent, and a major exploration program about to launch, Benton is well-positioned to create value through the drill bit in a rising commodity price environment. Positive exploration results could quickly establish Great Burnt as one of the most exciting new copper projects in Canada.

Macro Thematic Analysis

The global transition to clean energy is driving unprecedented demand for critical metals like copper. Copper's essential role in electrification makes it a core component of the green economy, from electric vehicles to renewable energy infrastructure. With the push to "decarbonize everything" accelerating, copper demand is forecast to nearly double by 2035.

At the same time, a dearth of new copper supply is emerging as declining grades, resource exhaustion, and a lack of new discoveries constrict mine output. This impending supply gap is expected to lead to a period of structural deficits in the copper market starting in the back half of this decade.

As CEO Stephen Stares explained,

"Copper is one of the more stable commodities moving forward into the green technology metals - electric car motors, housing, etc. I think Europe is a little bit ahead of the Canadian and American markets [in terms of copper demand]."

Against this backdrop, high-quality copper projects in stable jurisdictions are becoming increasingly sought after by investors looking for exposure to a strengthening long-term fundamental story. Benton Resources' Great Burnt copper project has the potential to emerge as a strategically significant Canadian copper asset, with a central location and high-grade mineralization that is open for expansion.

The company's ability to attract a significant European investor despite challenging market conditions speaks to the quality of the asset and its leverage to the electrification thematic. As Benton delivers exploration success and grows the resource in a rising copper price environment, the Great Burnt project – and in turn Benton's share price – stands to benefit from an emergence of acquirers seeking secure, high-grade copper assets in low-risk mining jurisdictions.