Welcome to the Benton Resources Hub

Benton has multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements. The Company currently has approximately $13.2 million in cash, owns approximately 57.9 million shares of Coro Mining Corp... And

Message: Benton Reports on Coro Mining Corp.

Benton Reports on Coro Mining Corp.

posted on Sep 10, 2009 03:13PM

THUNDER BAY, ONTARIO--(Sept. 10, 2009) - Benton Resources Corp (TSX VENTURE:BTC)("Benton" or "the Company") is pleased to inform its shareholders of the following news from Coro Mining Corp (TSX:COP)("Coro") announced today. Benton has a 34% interest in Coro and a 45% interest if warrants held by Benton are exercised.

September 10, 2009, Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce that the National Technological University ("UTN") of Mendoza has completed its evaluation of the San Jorge Project Environmental Impact Study (EIS) on behalf of the Provincial Government of Mendoza. The Project is located 45km north of the town of Uspallata, in the Department of Las Heras, Mendoza Province, Argentina

This report is an important milestone in the EIS approval process as it provides the government and people of Mendoza with an impartial and independent evaluation of the Project. The UTN report states that the San Jorge Project EIS has satisfactorily complied with all national and provincial environmental regulations, and has concluded that the Project, if developed in full compliance with these regulations, would have a highly positive economic impact on the Province of Mendoza in general and the district of Uspallata in particular. The report makes a number of observations and recommendations for further work to be carried out by the Company in the subsequent phases of the Project's development.

Alan Stephens, President and CEO commented, "We are very pleased that the UTN's evaluation of the EIS has confirmed that the San Jorge Project is being advanced in full compliance with all Provincial and National environmental legislation, and that they have recognized the positive impact that the Project would have on the development of the region. The UTN report, together with the Company's EIS will now be subject to a ministerial project review, followed by public meetings; if the EIS is then approved by the Mendoza Provincial Government, such approval will require ratification by the Provincial legislature. A formal public consultation process is underway and the Company is openly and actively engaging with the local community, local businesses and chambers of commerce, political parties, and potential suppliers to the Project. We have inaugurated a new Spanish language website, www.proyectosanjorge.com.ar , which contains full details of the Project and the EIS approval process. With this independent, positive endorsement of the Project from the UTN, we now look forward to the completion of the EIS approval process over the coming months."

A full version of the Spanish UTN Report is available on our websites, www.coromining.com and our Spanish website for Minera San Jorge, www.proyectosanjorge.com.ar

As announced in its April 22 2008 press release, the Company has a completed an independent Preliminary Economic Assessment (PEA) of the San Jorge Project which contemplates the production of an average of 39,500 metric tonnes per year of copper and 39,000 oz per year of gold contained in concentrate for a period of 16 years. The PEA concluded that the project would require an investment of $277 million, and at prices of $2.00/lb copper and $600 per ounce gold, would have an after tax NPV 10% of $220 million and an IRR of 28.6%.

Coro and its subsidiary Minera San Jorge ("MSJ"), have adopted a policy of complete transparency and frankness, have stressed the economic and employment benefits of the project to Argentina, as well as our commitment to exacting industry standards in environmental management, and have invited citizen participation in the environmental monitoring of the operation. We have demonstrated our commitment to water conservation through the proposed use of paste tailings, which minimizes water usage through recycling, and have committed to train as many local residents as possible for employment in any future operation at San Jorge.


Alan Stephens, President and CEO

About Coro Mining Corp.:

The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro's core property is the advanced San Jorge copper-gold project, in Argentina, and the Company holds other earlier stage exploration properties located in Chile.

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.


Coro Mining Corp.
Michael Philpot
Executive Vice-President
(604) 682-5546

[email protected]
New Message
Please login to post a reply