Benton Resources Corp. ("Benton") Receives Further Encouraging Results From Its Joint Venture Partner on the BCF Property Quoted Below Marathon Completes 2008 Drilling Program on BCF JV Property, Intersecting 1.41g/t PGM and Au and 0.34% Cu Over 100m TORONTO--(MARKET WIRE)--Sep 4, 2008 -- Marathon PGM Corporation ("Marathon" or "the
Company") (Toronto:MAR.TO - News) announced today the latest drilling
results from the
Bamoos-Claw Lake-Four Dams ("BCF") Property, which is being
explored under
an option and joint venture agreement with Benton Resources
(CDNX:BTC.V - News).
The BCF property adjoins the northern margin of the Company's
Marathon
Project north of Marathon, Ontario. Highlights: * hole MB-08-42 intersected 100m grading 1.41g/t PGM and Au and 0.34% Cu * hole MB-08-33 intersected 92m grading 1.32g/t PGM and Au and 0.30% Cu * BCF drilling will be added to upcoming reserve estimate * delineating the northern margin of mineralization is important for mine planning purposes
Significant results from the BCF drilling include two intersections of 92m and 100m intersection at grades slightly better than the average for the Main Zone. The first intersection in hole MB-08-33 consists of 92m grading 0.30% Cu and 1.32g/t PGM and Au including 27m grading 0.54% Cu and 3.00g/t PGM and Au. The second intersection in hole MB-08-42 consists of 100m grading 0.34% Cu and 1.41g/t PGM and Au including 16m grading 0.67% Cu and 3.01 g/t PGM and Au. This intersection is significant as it occurs 35m south along strike of hole MB-08-10 which also contained 100m of mineralization. The joint venture with Benton Resources has been of great importance to Marathon. The JV agreement allows for mining of the boundary pillar that would otherwise be required by law to be left between Marathon's and Benton's properties. Consequently, the resources to the north and south of this boundary will be added to the upcoming reserve estimates. Marathon has the right to mine ore up to 200m north of the BCF boundary prior to the JV being completed. The Marathon resource has grown very quickly due to intersections of very thick zones of mineralization. A number of > 100m intersections will be added to the existing resource, which will expand the resource tonnage. "Drilling and trenching has enabled us to sort out the complicated geology on the JV property and confirm the continuation of the Main Zone by first tracing it down dip and then following it north at depth," said David Good, VP of Exploration. Results for best intersections from Marathon-Benton JV Drilling
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True Total PGM
Hole From To Thickness Pd Pt Au and Au Cu
(m) (m) (m) (g/t) (g/t) (g/t) (g/t) (%)
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MB-08-24 115 121 6 1.06 0.23 0.07 1.36 0.10
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MB-08-28 320 354 34 0.42 0.13 0.05 0.60 0.27
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MB-08-32 2 38 36 0.81 0.22 0.09 1.13 0.30
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MB-08-33 38 130 92 0.96 0.27 0.10 1.33 0.30
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MB-08-34 1.32 28 26.68 2.17 0.66 0.17 3.00 0.54
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MB-08-35 1.57 6 4.43 1.30 0.36 0.16 1.81 0.27
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MB-08-35 14 40 26 0.70 0.19 0.05 0.94 0.16
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MB-08-38 151 163 12 1.02 0.22 0.09 1.32 0.12
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MB-08-38 334 346 12 0.72 0.22 0.08 1.01 0.24
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MB-08-39 35 39 4 1.41 0.45 0.17 2.03 0.57
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MB-08-39 45 63 18 1.50 0.32 0.09 1.91 0.37
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MB-08-41 172 176 4 1.04 0.27 0.08 1.38 0.39
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MB-08-42 156 256 100 0.98 0.32 0.11 1.41 0.34
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MB-08-42 158 164 6 1.37 0.36 0.18 1.90 0.50
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MB-08-42 176 192 16 2.07 0.73 0.21 3.01 0.67
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MB-08-42 206 212 6 1.18 0.34 0.13 1.65 0.51
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MB-08-42 242 252 10 1.28 0.37 0.14 1.79 0.39
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(1) Holes MB-08-25, -29, -30, -36, -37 and --40 intersected no significant
values and holes 26, 27, 28, 31, and 33 intersected lower values.Please click on http://www.marathonpgm.com/newsmaps/2008-40.jpg to view a drill map. In general, BCF drilling intersected mineralization that is characteristic of the Marathon deposit. Mineralization was found both on-or-near-surface as well as deeper and downdip to the west. Outcropping mineralization is being trenched and mapped, as Marathon has done extensively to the south on the Marathon project. Trenching north of section 6350 has defined extensions of mineralization, which will assist next year's drilling campaign aimed at outlining new resources. Drilling of the BCF property has provided Marathon with additional resources for the DFS, as well as furthering exploration. Details of geology assist and guide exploration, while the mineralized boundaries will be used for mine development and planning. The total PGM and Cu resource now held by Marathon in the Coldwell Complex exceeds 120 measured and indicated million tonnes. This resource will increase when the results of this year's drilling on the Marathon Property and BCF JV Property are included. The Coldwell Complex is evolving as a major potential source of PGM and Cu in Canada. Marathon's collaborative work with Benton has been of mutual benefit. Boundaries of mineralization have been expanded by Marathon's drilling, as well as historical holes completed by Fleck, Anaconda and recent holes by Benton. Substantial intersections that establish continuity of mineralization on-section, across adjacent sections and down-dip have potential to add tonnes to the upcoming reserve estimate. All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario, to be assayed using fire assay and other standard techniques. David Good, P.Geo., VP of Exploration is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Dr. Good has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. About Marathon PGM Corporation: Marathon is in the process of completing a definitive feasibility study on the Marathon PGM-Cu deposit, which is nearing completion. Marathon also has development and exploration stage properties in southeastern Manitoba and western Newfoundland and Labrador. Marathon's management plans to build on this focus through the advancement of its properties, focusing on resource development and by examining other strategic PGM and base metal opportunities within Canada. Cautionary Statement Regarding Forward-Looking Information: Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking statements." Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include but are not limited to those identified and reported in Management's Discussion and Analysis for the year ended December 31, 2007. Circumstances or management's estimates or opinions could change, and management disclaims any obligation to revise or update forward-looking statements, whether for new information, future events or otherwise. The reader is cautioned not to place undue reliance on forward-looking statements. On behalf of the Board of Directors of Benton Resources Corp. "Stephen Stares" Stephen Stares, President Reliance on Marathon PGM and Forward-Looking Statements The information contained in this press release is a verbatim extract of the press release issued by Marathon PGM Corporation. Although Benton believes the information included in the press release to be generally reliable, the data has not been independently verified and Benton does not assume any liability for the accuracy or completeness of such information. Furthermore, as noted above in the verbatim extract, the press release may contain forward-looking information within the meaning of applicable securities laws. Such information includes the statements contained in the verbatim extract regarding Marathon PGM's exploration and drilling plans, plans to update the mineral resource and the estimation of mineral resources and are subject to risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The risks include those that are set out above in the verbatim extract and those contained in public documents of Marathon PGM filed on SEDAR as well as the risks set out in Benton's public documents including its management information circular and quarterly and annual management's discussion and analysis. There is no assurance that the forward-looking information contained in the press release will prove to be accurate. Accordingly, readers should not place undue reliance on the forward-looking information. All of the information contained in the press release is qualified by this cautionary statement. Distributed by Filing Services Canada and retransmitted by Marketwire Contact: For further information contact:
Stephen Stares
3290 Willard Ave
Thunder Bay, Ont.
P7E 6J7
Phone (807)475-7474
Fax (807)475-7200
http://www.bentonresources.ca
Investor relations:
In Canada:
First Canadian Capital
Daniel Boase
Phone (416) 742 5600
Fax (416) 742 6410
In U.S.A:
The Windward Agency
Kelly Boatright
Phone (704) 588 8600
Source: Benton Resources Corp.
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