BENTON, ROYAL ROADS, AND GOLDEN DORY
FORM NICKEL JOINT VENTURE
Benton Resources Corp. (BTC-TSX-V) (?Benton?) Royal Roads Corp. (RRO-TSX-V) ("Royal Roads"), and Golden Dory Resources Limited (?Golden Dory?) [a wholly owned subsidiary of 540 Capital Corp, (FA-TSX-V) (?540?)] are pleased to announce that they have entered into a joint venture agreement on a 222 km2 property in central Newfoundland, to explore a newly recognized environment prospective for magmatic nickel sulphide deposits. Recent sampling of disseminated mineralization in float and bedrock by prospectors has yielded anomalous nickel and copper values of up to 0.28% Ni and 0.36% Cu that indicate if massive sulphide accumulations were discovered, they could host nickel and copper grades comparable to other magmatic nickel sulphide deposits in North America including Vale Inco?s Voisey?s Bay mine in Labrador and Kennecott?s (subsidiary of Rio Tinto plc) Eagle deposit currently being developed in northern Michigan.
The joint venture property (the ?Property?) comprises mineral claims formerly controlled by the individual joint venture participants, including Royal Roads? 74 km2 Long Range property and Benton?s and Golden Dory?s 148 km2 Portage Lake property. The Property covers a Silurian age, 5 x 20 km gabbroic intrusive complex hosting olivine bearing to ultramafic phases. The gabbro also hosts showings of magmatic nickel sulphides recently discovered by prospecting that are comprised of pentlandite, chalcopyrite and pyrrhotite displaying textures characteristic of magmatic nickel sulphide deposits. In collaboration with Benton and Golden Dory, Royal Roads coordinated a 1,300 line km VTEM airborne geophysical survey over the entire property in July 2008. Results are expected shortly.
The Property is located close to infrastructure including a 15 MW hydroelectric facility located 25 km northeast of the property. Power lines connecting the facility to the provincial grid cross the joint venture property. A paved highway maintained by the provincial government traverses the property and provides access to port facilities in the community of St. Georges, located 50 km to the west. Teck currently ships concentrates from its Duck Pond copper-zinc mine from port facilities in St. Georges. The area is considered receptive to mining, as it is located less than 65 km southwest of Buchans, one of the province?s longest established mining centers.
Royal Roads is the project operator and holds 40% interest in the joint venture while Benton and Golden Dory own 40% and 20% respectively. The mineral claims are subject to net smelter royalties of up to 2%, of which 1% can be purchased for $1 million. Those portions of the property contributed to the joint venture by Benton and Golden Dory are subject to underlying option agreements requiring cash payments and share issuances for the joint venture to earn a 100% interest.
As operator, Royal Roads has considerable in-house expertise with respect to exploration for magmatic nickel sulphide deposits in eastern Canada; and together with Benton and Golden Dory, look forward to further exploration on the property.
Management?s Opinion
Stephen Stares, President and CEO of Benton stated, ?The Joint Venture with Royal Roads and Golden Dory is testament to Benton?s commitment in conserving its treasury while maintaining its search for the next viable nickel discovery in Canada. The Long Range project provides an excellent opportunity for such a discovery with newly discovered nickel occurrences in this recently identified gabbroic intrusive complex. We look forward to working with these excellent explorers while sharing the risk of exploration expenditures?.
Will Felderhof, President and CEO of Royal Roads stated, ?We are very pleased to be working with Benton and Golden Dory and are excited to be exploring this newly discovered nickel prospect. With a treasury of $5 million, and almost total control of the Buchans mining camp, historically one of Canada?s richest base metal camps, we believe Royal Roads has the potential to deliver exceptional shareholder value. Discovery of a high value magmatic nickel sulphide deposit in mining friendly Newfoundland fits with our corporate objective of leveraging ourselves to exceptional exploration opportunities.?
Kevin Keats, President of Golden Dory stated, ?Both Royal Roads and Benton Resources are quality companies with considerable nickel experience. We are excited about our new partnership and look forward to jointly advancing the Long Range project.?
Other
Paul Moore, M.Sc., P.Geo., (NL), Royal Road?s Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. Analyses referred to herein are from rock samples collected and submitted by prospectors holding underlying rights and royalties on the joint venture property. All assays were completed by Eastern Analytical Limited of Springdale, Newfoundland by the ICP (Inductively Coupled Plasma Optical Emission Spectroscopy) method (ICP-30) for Cu and Ni and Ore Grade Assay for Ni by the atomic absorption (AA) method. ICP analyses were completed using a 0.500 g sample digested in nitric and hydrochloric acid. Ore Grade Assays (Ni) were completed using a 0.200 g sample digested in nitric and hydrochloric acid.
The aforementioned joint venture agreement is subject to regulatory and board approvals.
About Benton Resources
Benton Resources Corp. is a mineral exploration company with an aggressive and experienced management team focused on base and precious metal exploration. Benton?s diverse property portfolio includes Canadian projects which are highly prospective for gold, uranium, platinum, palladium, nickel and copper. Benton currently has approximately $18 million in working capital and has joint ventured several of their projects to major and junior companies. For additional information on Benton?s properties and activities, please visit www.bentonresources.ca
About Royal Roads
Royal Roads is a resource company based in Halifax, Nova Scotia, Canada and is focused on exploring and developing base metal properties in the famous Buchans and Victoria Lake mining camps in central Newfoundland, Canada. Royal Roads also controls several exploration properties outside of Buchans, including several under joint venture to Prominex Resource Corp. (PXR ? TSX-V) and Playfair Mining Ltd. (PLY ? TSX-V). Acadian Mining Corporation (?Acadian?) owns 29.18% of Royal Roads. Acadian is a Halifax-based resource company producing lead and zinc from its Scotia Mine and developing gold and base metal properties in Nova Scotia. For additional information on Royal Roads? properties and activities, please visit www.royalroadscorp.ca.
About Golden Dory
Golden Dory recently obtained a listing on the TSX Venture Exchange and is focused on uranium, gold and base metal exploration in Newfoundland and Labrador, Canada. Golden Dory also has 100% interests in the Burin uranium property, the Sterling copper/cobalt property, and the Brady gold property, and a 50% interest in the Sims Ridge uranium property in western Labrador. Golden Dory is seeking partners to jointly explore of its property holdings. For additional information on Golden Dory?s properties and activities, please visit www.goldendoryresources.com.
Forward Looking Statements
Certain information contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Royal Roads, Benton and Golden Dory (the ?Companies?) believe that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. The Companies caution that actual performance will be affected by a number of factors, many of which are beyond their control, and that future events and results may vary substantially from what the Companies currently foresee. The Companies? forward-looking statements are expressly qualified in their entirety by this cautionary statement.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Royal Roads Corp.
Will Felderhof, President and CEO
David Felderhof, Vice-President
(902) 444-3637
Halifax, Nova Scotia
www.royalroadscorp.ca
Benton Resources Corp.
Stephen Stares, President and CEO
Phone (807) 475-7474
Fax (807) 475-7200
611 Montreal Street
Thunder Bay, ON P7E 3P2
www.bentonresources.ca
Golden Dory Resources Limited
Kevin D. Keats, President and CEO
Phone (709) 256-4201
Gander, Newfoundland
www.goldendoreyrecources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cindy Kawahara
Executive Assistant
611 Montreal Street
Thunder Bay, ON P7E 3P2
Tel: (807) 475-7474
Fax: (807) 475-7200
www.bentonresources.ca