Benton Notified of Revisions to the Positive PEA for the Cape Ray Gold Project, Newfoundland

March 31, 2017

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THUNDER BAY, ONTARIO–(Marketwired – March 31, 2017) – Benton Resources Inc. (TSX VENTURE:BEX) (“Benton” or “the Company”) has received updated numbers from its joint venture partner Nordmin Engineering Ltd. (“Nordmin”) regarding the preliminary economic assessment (“PEA”) announced February 9, 2017. Nordmin reports that during the independent review process, an error in the interpretation of the 2017 resource block model for the underground portion of the 51 Zone at the Cape Ray Gold Project was discovered. Due to the error, the ounces of gold for the underground portion of the 51 Deposit were overstated and as a result, the 51 Underground Zone is marginally economic and has been removed from the PEA. The Internal Rate of Return (IRR) and Net Present Value (NPV) for the updated PEA have subsequently been reduced until economic parameters change. The IRR and NPV@7% remain higher than the 2016 PEA and the updated PEA continues to demonstrate the economic potential of the Cape Ray Project. A substantial review of the entire updated PEA was initiated and the new results form the basis of this press release. The Cape Ray Gold Project, is located approximately 20 kilometers northeast of Port aux Basques, Newfoundland.

Category: General