Benton and Metals Creek option new gold discovery in Staghorn Property area
2017-04-21 14:26:36 【Print】
BEIJING (Asian Metal) 21 Apr 17 – Benton Resources Inc
Under the Agreement, Benton and Metals Creek will make staged payments to the Vendor totaling $45,000 ($5,000 on signing) and 425,000 common shares (50,000 on signing) over a three year period . All cash and share payments will be split 50% Benton and 50% Metals Creek . The Vendor will retain a 2% net smelter return (“NSR”) on the Property . Benton and Metals Creek will have the right to buy back 1% of the NSR for $1,000,000.
The optioned property will be folded into the Staghorn Gold Project in which Benton is earning a 60% interest.
Benton and Metals Creek have staked an additional 30 claim units to the north and west of the optioned claims . The two companies plan on completing a property review once spring breakup is over and weather conditions allow for additional sampling.
. (“Benton”) and Metals Creek Resources Corp . (“Metals Creek”) announced that they have jointly executed a letter of intent (the “Agreement”) with a Newfoundland prospector (the “Vendor”) pursuant to which Metals Creek and Benton have been granted the option to acquire a 100% interest (50% each) in 22 claim units (the “Property”) located in the Victoria Lake area, Central Newfoundland.