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Mar 09, 2007 (M2 PRESSWIRE via COMTEX News Network) -- BENTON RESOURCES CORP. (TSXV:BTC) was up 15.25% today on just under 600,000 shares traded. Benton Resources Corp.(the "Company") is pleased to report that, subject to regulatory approval, it has entered into an agreement (the "Agreement") with Grandcru Resources Corporation ("Grandcru") whereby Grandcru has the right to earn an initial 50% interest (the "Initial Option") in the mineral claims consisting of the South Sibley Block, Block "B" and Block "D" (collectively the "Property") in the Sibley Basin area (commonly referred to as the Nipigon Basin). The claim blocks are located less than 100km north east of Thunder Bay, Ontario. Once Grandcru has exercised the Initial Option, it will have an option to earn a further 10% interest in the Property (the "Second Option"). Under the terms of the Agreement, in order to exercise the Initial Option, Grandcru shall spend $500,000 in respect to the Property by: (i) reimbursing Benton for the costs of staking the claims comprising the Property; and (ii) conducting, by the first anniversary of the Agreement, exploration work on the Property in an amount equal to $500,000 less the costs incurred pursuant to (i) above. Provided the Initial Option is exercised, Grandcru may exercise the Second Option by: (a) giving notice to Benton, within 30 days of exercising the Initial Option, that Grandcru wishes to exercise the Second Option; and (b) by spending an additional $500,000 on exploration within 12 months of giving such notice. Upon Grandcru having exercised the Initial Option, if Grandcru elects not to exercise the Second Option, the parties will form a 50/50 joint venture for the further development of the Property. Upon Grandcru exercising the Second Option, the parties will form a joint venture for the further development of the Property with Grandcru having a 60% interest and Benton having a 40% interest. Benton Resources Corp. is a mineral exploration company listed on the TSX Venture Exchange under the symbol BTC. Benton's aggressive and experienced management team is focused on base and precious group metal exploration. The Company's diverse property portfolio includes Canadian projects which are highly prospective for gold, uranium, platinum, palladium, Nickel and Copper. International Stock Targets is curious as to the activities of this equity, as our current focus is on small cap companies. In other news, International Stock Targets has announced a "Strong Buy" recommendation along with a one-month and six-month price target in their latest research report. Please note that the following is an investment opinion issued by International Stock Targets. For full details on this equity visit the attached link: |
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| aus der Diskussion: | Benton Resources (BTC). Guter kanadischer Gold- und Uranwert |
| Autor (Datum des Eintrages): | Hoschie (17.03.07 15:54:30) |
| Beitrag: | 5 von 92 (ID:28341832) |
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