THUNDER BAY, ONTARIO -- (Marketwire) -- 09/22/11 -- Benton Resources Corp. (TSX VENTURE: BTC) ("Benton" or "the Company") today announces a change in the date of its Annual, General and Special Meeting of Shareholders (the "Meeting"), which will now be held on November 3, 2011 at 1.pm. The Meeting will still be held at 400 Burrard Street, Suite 1780, Vancouver B.C. The Meeting was originally scheduled to be held on October 11, 2011, but is being delayed as the Company works to obtain the necessary regulatory approval for its proposed spin-out of its securities of Coro Mining Corp, as previously disclosed by the Company in its press releases of May 5 and July 19, 2011 (the "Spin-Out").
The record date for shareholders eligible to vote at the Meeting will remain September 6, 2011. It is anticipated that, subject to obtaining shareholder and regulatory approval, and compliance with certain other closing conditions as shall be set forth in the Company's Information Circular disclosing the Spin-Out, the Spin-Out transaction will close in December, 2011. The Company's Information Circular concerning the Spin-Out will be posted on www.sedar.com once regulatory approval in respect of the transaction is obtained.
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 $11.5 million in cash, owns approximately 57.9 million shares in Coro Mining Corp. (TSX: COP), holds approximately 348,000 shares of Stillwater Mining Company (NYSE: SWC), holds 782,500 shares in Marathon Gold Corp. (TSX: MOZ), holds 1.6 million shares in Puget Ventures (TSX VENTURE: PVS), holds 6.5 million shares of Mineral Mountain Resources Ltd. (TSX VENTURE: MMV), and holds 815,000 shares of Bell Copper Corporation (TSX VENTURE: BCU) holds 1.2 million shares of Trillium North Minerals (TSX VENTURE: TNM), holds 1.5 million shares of Golden Dory Resources (TSX VENTURE: GDR) and 3.0 million shares Parkside Resources (currently private) Benton is currently in the process of spinning out the majority of its assets by a plan of arrangement into a new listed company in order to separate its approximate 42% investment in Coro Mining from its cash, equities and exploration assets. Benton shareholders will receive a pro-rata interest in this new company on a one-for-one share basis and pursuant to regulatory approval.
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.
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Benton Resources Corp.