Metals Creek Resources Corp. (TSXV: MEK) and Benton Resources Inc. (TSXV: BEX) have received TSX Venture Exchange approval for their joint acquisition of interests in two mineral licences covering 50 claim units in Newfoundland's Deer Lake Basin and Parsons Pond areas. The deal, originally announced on August 18, 2026, was made with G2B Gold and is structured on a 50/50 ownership split between the two companies. The properties are considered prospective for natural white hydrogen and helium, placing Metals Creek among a small group of junior explorers targeting these emerging energy commodities in Canada.

Key Points

  • Metals Creek Resources Corp. (TSXV: MEK | OTC Pink: MCREF | FSE: M1C1) and Benton Resources Inc. (TSXV: BEX) jointly announced the regulatory approval
  • TSX Venture Exchange approved the acquisition of 100% of G2B Gold's interest in 50 claim units across two Newfoundland properties
  • Consideration includes 120,000 Metals Creek shares and 82,500 Benton shares issued to G2B, plus a 2% NSR with a buyout option on half the royalty for $1 million
  • Investors may be watching for exploration activity targeting white hydrogen and helium across the Deer Lake Basin and Parsons Pond licences

Deal Structure and Royalty Terms for the Newfoundland Properties

Under the approved transaction, Metals Creek and Benton collectively acquired 100% of G2B Gold's interest in the two mineral licences — 20 claim units in the Deer Lake Basin and 30 units at Parsons Pond — on a 50/50 basis. Consideration paid to G2B consisted of 120,000 common shares of Metals Creek and 82,500 common shares of Benton, along with a 2% net smelter royalty. The companies retain the right to repurchase half of that royalty, representing a 1% NSR, by paying G2B $1 million at any time. No finders' fees were paid in connection with the acquisition, the release states.

White Hydrogen and Helium Potential Driving Geological Interest

The Deer Lake Basin licences are considered prospective for helium and natural white hydrogen. At Parsons Pond, historical drill logs from two holes 14.2 km apart recorded C1 methane gas levels reaching 72%, while geological indicators include shales, sandstones containing serpentine and chrome fragments, and the mineral glauconite — all cited by the companies as consistent with environments where white hydrogen may form. The release also notes that surface areas within the project boundaries have been observed to vent gas, and that the presence of high methane concentrations alongside hydrogen indicators suggests a potentially active gas system.

Metals Creek's Broader Portfolio Anchored by Ontario Gold Assets

Beyond the Newfoundland licences, Metals Creek holds a 50% interest in the Ogden Gold Property, which includes the former Naybob Gold mine located 6 km south of Timmins, Ontario, along an 8 km strike length of the Porcupine-Destor Fault. The company is a junior exploration issuer incorporated in Ontario and is a reporting issuer in Alberta, British Columbia, and Ontario. The immediate share price impact was not clear from available public information.