Eric Sprott Announces Changes to His Holdings in Benton Resources Inc.

Toronto, Ontario--(Newsfile Corp. - March 22, 2024) - Eric Sprott announces that, on March 21, 2024, 12,500,000 common share purchase warrants (Warrants) of Benton Resources Inc., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 5.3% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned 28,750,000 Shares and 20,625,000 Warrants representing approximately 16.6% of the outstanding Shares on a non-diluted basis and approximately 25.5% on a partially diluted basis assuming the exercise of such Warrants.

As a result of the Warrant expiry, Mr. Sprott now beneficially owns 28.750,000 Shares and 8,125,000 Warrants representing approximately 16.6% of the outstanding Shares on a non-diluted basis and approximately 20.3% on a partially diluted basis assuming the exercise of such Warrants. The Warrant expiry combined with previous new share issuances by Benton Resources Inc., resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Benton Resources Inc. address is 176-1100 Memorial Avenue, Thunder Bay, Ontario, P7B 4A3. A copy of the early warning report with respect to the foregoing will appear on Benton's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, Ontario M5C 3C5).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202306