Benton Resources: A Strategic Buy in 2026 Amid Record Metal Prices and Expanding Newfoundland Projects

In the evolving landscape of junior mining equities, companies with clear, near-term exploration catalysts and exposure to structurally bullish commodities often represent compelling value propositions. Benton Resources (TSXV: BEX) stands out as a prime example, offering investors a unique combination of expanding high-grade deposits, a robust 2026 drilling schedule, and alignment with record gold and copper prices. With its Newfoundland projects demonstrating exceptional continuity and metallurgical viability, the company is poised to capitalize on a confluence of favorable market and geological factors.

Newfoundland Projects: A Foundation for Growth

Benton's flagship Great Burnt Copper Deposit has seen remarkable expansion, with since late 2023. This growth, coupled with the delineation of a 2.7 km wide, shallow gold-copper deposit at South Pond, underscores the project's scalability. Recent drilling at South Pond has confirmed a robust gold-mineralized system over 2.5 km, . These results not only validate the deposit's shallow, near-surface potential but also highlight its amenability to cost-effective open-pit mining.

The discovery of a new Volcanic Massive Sulphide () system in the End Zone area further amplifies the project's upside. Drillholes EZ-25-01 and EZ-25-02 intersected significant sulphide mineralization, indicative of a VMS-style system. While assays remain pending, and in the upper 150 meters of EZ-25-01 suggests a high-grade, structurally controlled deposit. This discovery positions Benton to potentially add a new copper-gold asset to its portfolio, diversifying its resource base and extending its exploration timeline.

2026 Drilling Program: A Near-Term Catalyst

Benton's 2026 drilling schedule is a critical catalyst for resource expansion and investor confidence. The company has announced a large-scale drilling program, with operations resuming in January 2026 following seasonal pauses. A key component of this program is an airborne geophysical survey over the southern half of the Great Burnt Project, targeting a large copper-in-soil anomaly. This survey, combined with targeted drilling, could unlock new zones of mineralization and refine existing resource models.

The company's drilling strategy is further bolstered by its strong financial position. , Benton is well-funded to execute its 2026 plans without diluting shareholders. This liquidity, coupled with a disciplined approach to exploration, reduces operational risk and enhances the likelihood of meaningful resource upgrades.

Metallurgical Testing: Unlocking Economic Viability

A critical next step for South Pond is the completion of metallurgical testing, which is expected to provide clarity on gold recovery rates. SGS Laboratories is conducting tests to assess the feasibility of extracting gold using standard acid leaching methods. Positive results would validate the deposit's economic viability and pave the way for preliminary economic assessments (PEAs) or feasibility studies. Given the deposit's shallow depth and high-grade intercepts, even moderate recovery rates could justify near-term development.

Structural Tailwinds: Gold and Copper in a Bull Market

Benton's projects are strategically aligned with a commodities supercycle driven by structural demand for gold and copper. According to J.P. Morgan Global Research, , driven by central bank purchases and cyclical Fed rate cuts. Similarly, Goldman Sachs projects copper prices , with long-term demand from electrification and AI infrastructure creating a floor for prices. These trends directly benefit Benton's gold-copper deposits, enhancing their net present value and attracting capital in a competitive funding environment.

Undervaluation and Investment Thesis

Despite its promising assets and active exploration program, Benton remains undervalued relative to its peers. The company's market capitalization fails to reflect the potential of its Newfoundland projects, particularly the South Pond gold-copper deposit and the newly identified VMS system. With 2026 set to deliver metallurgical results, expanded resource estimates, and geophysical insights, Benton offers a rare combination of low risk and high reward. Investors seeking exposure to a junior explorer with clear, near-term catalysts and a strong alignment with macroeconomic trends should consider this stock a strategic buy.