Benton Advised by Coro Mining of Completion of San Jorge Public Hearing in Argentina
THUNDER BAY, ONTARIO -- (Marketwire) -- 10/28/10 -- Benton Resources Corp. ('Benton' or 'the Company') (TSX VENTURE: BTC) ('Benton' or 'the Company') is pleased to announce that they have been advised by Coro Mining Corp. (TSX: COP) ('Coro') that the Public Hearing to consider Coro's San Jorge project Environmental Impact Study ('EIS') was held on October 26th 2010 in Uspallata, the nearest town to the project. The Public Hearing was the final step in the consultation process prior to the EIS being submitted to the Provincial Government for approval, and if approved, presented to the Provincial House of Deputies and Senate for ratification. Benton currently holds 38.1 million shares and 19.1 million warrants of Coro.
Alan Stephens, President and CEO of Coro commented, 'We are very pleased that the Public Hearing has been completed on schedule. It was attended by more than 2000 individuals and gave the people of Mendoza, and particularly the residents of Uspallata, the opportunity to express their views about the development of San Jorge. It was held in an atmosphere of complete calm, civility and respect to opposing opinions. We would like to express our sincere appreciation to the Provincial Government for the exemplary manner in which the Hearing was organized and conducted. Having now completed all of the steps required of it under the EIS approval process, the Company looks forward to the Government's decision.'
Coro is fully committed to developing San Jorge in such a way that no water resources would be affected by contamination, as required by local and national laws and regulations, and by international best practices. The Company, through its subsidiary, Minera San Jorge, continues to follow a policy of complete transparency and frankness, and has stressed the economic and employment benefits of the project to Argentina, as well as a commitment to exacting industry standards in environmental management, and has invited citizen participation in the environmental monitoring of the operation. The Company has demonstrated its commitment to water conservation through the proposed use of paste tailings, which minimizes water usage through recycling. It has committed to train as many local residents as possible for employment in the future operations at San Jorge.
Stephen Stares, President and CEO of Benton stated, 'We would like to congratulate the Coro team for their hard work in preparing for this very important step in the EIS approval process and for their professionalism and transparency throughout the process in working towards developing San Jorge in a responsible manner. We look forward to the Government's decision and the future of San Jorge.'
About San Jorge:
The San Jorge copper-gold project is located in Mendoza, Argentina. Coro completed an independent Preliminary Economic Assessment ('PEA'), in April 2008 which contemplated production of 39,500 tonnes of copper per annum and 39,000 ounces of gold per annum over a 16 year mine life. The deposit remains open to the west and at depth and using a $2.00 per pound copper and $600 per ounce gold price returned an after tax NPV of $220 million, with capital expenditures of $277 million.
Benton is a Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements. The Company currently has approximately $7 million in cash, owns 38.1 million shares and 19.1 million warrants in Coro Mining Corp. (TSX: COP), holds 1.56 million shares in Marathon PGM Corp (TSX: MAR), holds 1.6 million shares in Puget Ventures (TSX VENTURE: PVS), holds 815,000 Bell Copper Corp. (TSX VENTURE: BCU) and retains a 2% Net Smelter Royalty on the northern portion of the Marathon PGM deposit. The company is also in the process spinning out its 100% Bermuda property to its shareholders into a new company to be named Coldwell Copper Corp.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Corp.
Stephen Stares, President
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Benton Resources Corp.
Stephen Stares
(807)475-7474
(807)475-7200 (FAX)
www.bentonresources.ca
Investor Relations
Clair Calvert
204-799-2086