Benton Resources Inc. (TSXV: BEX) and Metals Creek Resources Corp. (TSXV: MEK) have received TSX Venture Exchange approval for their joint acquisition of interests in two mineral licences from G2B Gold, covering 50 claim units across the Deer Lake Basin and Parsons Pond areas of Newfoundland. The companies, which are non-arm's length, each hold a 50% ownership stake in the acquired properties, subject to a 2% net smelter royalty (NSR) payable to G2B. Separately, Benton also acquired a third mineral licence that directly adjoins its Dominion Copper-Gold-Zinc project in central Newfoundland, a detail investors may find strategically significant.

Key Points

  • Benton Resources Inc. (TSXV: BEX) and Metals Creek Resources Corp. (TSXV: MEK) jointly acquired interests in two Newfoundland mineral licences from G2B Gold
  • TSX Venture Exchange approval has been received for the previously announced August 18, 2026 acquisition
  • Consideration included 120,000 Metals Creek shares and 82,500 Benton shares to G2B, plus a 2% NSR with a buyback right of 1% for $1 million
  • Investors may watch how the adjoining Dominion Copper-Gold-Zinc licence acquisition influences Benton's exploration plans in central Newfoundland

Joint Acquisition Terms Across Deer Lake Basin and Parsons Pond

The two companies jointly acquired 100% of G2B Gold's interest in mineral licences covering 20 claim units in the Deer Lake Basin and 30 claim units in the Parsons Pond area, split evenly at 50% each. Consideration consisted of the issuance to G2B of 120,000 common shares of Metals Creek and 82,500 common shares of Benton. The transaction carries a 2% NSR retained by G2B, with both companies holding the right to repurchase half of that royalty — equivalent to 1% — at any time for $1 million. The release confirms no finders' fees were paid in connection with this acquisition.

Benton's Separate Acquisition Strengthens Dominion Project Land Position

In a separate agreement with G2B, Benton acquired a 100% interest in mineral licence 040650M, consisting of 2 claim units, by issuing 17,500 common shares of Benton to G2B. G2B retains a 2% NSR on this property as well, with Benton holding the right to purchase 1% of that royalty for $1 million at any time. The release states this licence ties directly onto Benton's Dominion Copper-Gold-Zinc project, situated approximately 14 km south of Buchans and 13 km north of Equinox Gold Corp's Valentine Gold mine in central Newfoundland.

Benton's Broader Newfoundland Exploration Portfolio

Benton describes itself as a well-financed mineral exploration company with a diversified property portfolio and equity positions in other mining companies. The release states the company intends to focus on advancing its Dominion Copper-Zinc-Gold project, Victoria West Gold Project, Stoney Caldera Copper-Gold Project, and hydrogen-helium projects on Newfoundland's west coast. The immediate share price impact of this announcement was not clear from available public information.