THUNDER BAY, ON, Nov. 24 /CNW/ - 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 km(2) 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 km(2) Long Range property and Benton's and Golden Dory's 148 km(2) 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.