Metals Creek Resources Corp Secures Newfoundland Mineral Licences

Metals Creek Resources Corp. (TSXV: MEK), a Canadian materials‑exploration company headquartered in Toronto, announced that it has received approval from the TSX Venture Exchange to acquire mineral licences in Newfoundland. The company, a subsidiary of Metalco Mining, is expanding its exploration footprint in Canada’s rich mineral districts.

Joint Acquisition with Benton Resources

On 15 September 2026, Metals Creek and Benton Resources Inc. (TSXV: BEX) received formal approval to acquire, through share‑based consideration, two mineral licences comprising a total of 50 claim units in the Deer Lake Basin (20 units) and Parsons Pond (30 units). The licences are located in central Newfoundland, an area that has attracted growing interest from junior miners.

  • Ownership split: 50 % Metals Creek, 50 % Benton.
  • Consideration:
  • 120 000 common shares of Metals Creek
  • 82 500 common shares of Benton
  • A 2 % net smelter royalty (NSR) payable to G2B Gold, the seller.
  • Royalty buy‑back option: The companies may purchase 1 % of the NSR at any time for a nominal payment of US $1 million, thereby potentially reducing long‑term royalty costs.

Separate Acquisition of Licence 040650M

In addition to the joint package, Benton Resources acquired a 100 % interest in mineral licence 040650M (two claim units) by issuing 17 500 common shares to G2B Gold. This licence adjoins Benton’s existing Dominion Copper‑Gold‑Zinc project, offering the opportunity for a larger, contiguous resource base. The NSR terms mirror those of the joint acquisition: a 2 % royalty to G2B with a 1 % buy‑back right for US $1 million.

Strategic Implications

The acquisitions reinforce Metals Creek’s focus on Canadian exploration and add a substantial number of claim units to its portfolio. By structuring the transaction with share‑based consideration and a modest NSR, the company preserves capital while securing rights to potentially high‑value mineral deposits. The joint ownership with Benton allows both firms to share development costs and operational expertise, potentially accelerating exploration timelines.

For Metals Creek, these licences represent a strategic extension into Newfoundland’s mineral‑rich basins, aligning with the company’s broader mandate to identify and develop mineral resources across Canada. The ability to buy back a portion of the NSR offers flexibility to manage future royalty obligations, which may become attractive as exploration progresses and potential resources are delineated.

Market Context

At the close of 13 September 2026, Metals Creek’s shares traded at $0.05 CAD, with a 52‑week range between $0.02 and $0.08. Despite a negative price‑earnings ratio of ‑18.9, the company’s market cap of $11.54 million CAD reflects the high‑growth potential investors associate with junior exploration assets. The recent approval of the Newfoundland licences is likely to be viewed positively by the market, as it enhances the company’s asset base without substantial immediate cash outlay.

The TSX Venture Exchange’s endorsement of the transaction underscores regulatory confidence in the deal structure and the companies’ plans for responsible exploration. As Metals Creek moves forward, stakeholders will be watching how the newly acquired claims are evaluated, how the NSR terms unfold, and whether the licences contribute to a larger, economically viable project in the coming years.