Benton Closes Private Placement Financing and Provides Update on Annual Meeting

Thunder Bay, Ontario--(Newsfile Corp. - June 12, 2020) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') announces that has received approval from the TSX Venture Exchange (the "Exchange") to close its private placement financing (the "Financing"), previously announced June 2, 2020.

The Company will be issuing 5,006,659 flow-through shares ("FT Shares") and 2,561,846 non-flow-through units (the "Units") (together the "Securities"), each Unit consisting of 1 common share of the Company and 1 common share purchase warrant, each warrant being exercisable at $0.25 for 24 months, for gross proceeds of $1,084,039.

In connection with the Financing, the Company will also pay cash finders' fees and issue broker warrants as permitted by the Exchange and all Securities issued pursuant to the Financing are subject to a statutory four-month hold period.

Proceeds of the Financing will be used to advance the Company's various early-stage Ontario-based exploration projects, including the recently optioned Far Lake project (see Company news release dated May 20, 2020) and for working capital purposes.

The Company also announces that due to delays caused by the COVID-19 Pandemic situation and the unexpected passing of a director, it has cancelled its Annual Meeting set for June 15, 2020. The Company will notify shareholders in the next few weeks of the new date for its Annual Meeting.

Exploration at Far Lake is well underway. The Company's heli-borne electromagnetic survey commenced June 11, the results of which will be essential in targeting exploration for the remainder of the field season. The survey is designed to locate conductive sulphide mineralization, similar to that of the high grade Cu occurrence on the property, as well as Mid-continent rift ("MCR") associated intrusions. Over 700 soil samples and nearly 140 chip samples have been submitted for multi-element assay, while geological mapping of the entire property is ongoing.

QP

Nathan Sims (P.Geo.), Senior Exploration Manager for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.

On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President

About Benton Resources Inc.

Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company's website. Many projects have an up-to-date 43-101 Report available.

For further information, please contact:

Stephen Stares, President & CEO
Phone: 807-475-7474
Email: [email protected]

CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x231
Email: [email protected]

Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

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