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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (2169)	8/19/2013 8:47:47 AM
From: Goose94	Read Replies (1) \| Respond to of 202905

Benton Resources (BEX-V) to sell 16 claims to Alabama Graphite (ALP-C) Aug 19, 2013 - News Release Benton Resources Inc. has executed an agreement with Alabama Graphite Corp., pursuant to which Alabama Graphite has purchased a 100-per-cent interest in the 16 claim units recently staked by the company located approximately 25 kilometres east of Zenyatta Ventures Ltd.'s new hydrothermal graphite discovery. Under the Agreement, Alabama Graphite will, upon regulatory approval, pay the Company $8,000 and issue to the Company, 2 million Alabama Graphite common shares with the following restrictions; -- 500,000 common shares with the standard 4 month trading restriction legend from the date of issuance; -- 500,000 common shares with a 10 month trading restriction legend from the date of issuance; -- 500,000 common shares with a 16 month trading restriction legend from the date of issuance; and -- 500,000 common shares with a 22 month trading restriction legend from the date of issuance. Benton will also retain a 2% NSR with Alabama Graphite having the right to buy back 50% of the NSR (i.e. 1%) for $1 million. Stephen Stares, Company President and CEO commented, "We are pleased to sell our interest in this project to Alabama Graphite, a company focused on the exploration and development of graphite prospects so that we may continue to focus on our core precious and base metal assets. Our shareholders will benefit from the upside of discovery not only on this project but on all of Alabama Graphite's projects through our approximate 6.6% interest in their issued and outstanding shares. We look forward to the advancement of the project and wish them success in their efforts". Zenyatta describes the mineralization as the "largest and only high-purity hydrothermal graphite deposit being developed in the world". Benton staked the ground based on a search and evaluation of historical data in the region which showed that conductive horizons exist on the property. Benton would also like to announce that it has received approval from the government of Newfoundland and Labrador under the Junior Exploration Assistance program ("JEA") for a grant of between $65,000 and $100,000 for exploration work conducted on the Company's Cape Ray gold project that was recently acquired from Cornerstone Capital Resources Inc. The Company would like to acknowledge and thank the government of Newfoundland and Labrador. We seek Safe Harbor.