Mr. Mark Lynch-Staunton reports

BENZ ANNOUNCES DRILLING TO ACCELERATE AT GLENBURGH FOLLOWING A$30M BOUGHT DEAL

Benz Mining Corp. has received firm commitments for a placement of 30,456,853 new fully paid CHESS depositary interests in the company through a bought deal at an issue price of 98.5 Australian cents per CDI to raise $30-million (Australian) (before costs).

The placement was driven by strong demand from leading, high-quality offshore institutional investors and was also supported by its existing large institutional shareholders. Benz's share register is now well positioned with a broad range of long-only institutional shareholders who have demonstrated their support for the company's strategy of aggressive exploration to fast-track resource growth.

Benz chair Evan Cranston commented: "This is a transformational capital raising for Benz which will position the company to significantly increase its exploration activities at the Glenburgh project, following recent drilling successes at the Icon prospect and at Zone 126.

"To have had such strong cornerstone demand from two leading offshore institutional funds who share our excitement and vision with the new exploration strategy at Glenburgh is extremely pleasing. The new discoveries at the Icon Apollo trend deserve their own dedicated rigs to rapidly unlock the size and scale of the emerging bulk tonnage system. The remaining rigs will continue to target high-grade ounces along the Zone 126 trend and scout out new and exciting untested priority targets along the 18-kilometre mineralized trend.

"The demand received from these institutions, together with our existing large institutional shareholders, is seen as a strong endorsement of our recent discoveries and the exploration potential that remains within our belt-scale tenure.

"With a strengthened pro forma balance sheet of $40-million (Australian) in cash, Benz is well funded to deliver a step change in exploration activities at Glenburgh, doubling drilling capacity to four rigs to fast-track resource growth across multiple high-priority targets.

"As we move into the next exciting chapter for the company, I'd like to take this opportunity to welcome our new shareholders to the register and thank our exiting holders for their continued support."

Use of funds

Proceeds from the placement will enable Benz to accelerate exploration across its gold portfolio, with a focus on its 100-per-cent-owned Glenburgh gold project in Western Australia -- a new frontier gold district with multimillion-ounce potential.

Financing will be applied toward:

• Glenburgh gold project (Western Australia):
  • Increasing drilling capacity to four rigs to accelerate testing of the emerging bulk tonnage gold system at the Icon deposit, the high-grade Zone 126 trend and other priority targets;
  • Geological modelling, including detailed televiewer interpretation, to deliver a resource model that honours Glenburgh's folded and metamorphosed geometry;
  • Progress toward an updated mineral resource estimate once the majority of planned drilling is complete, ensuring it reflects the full scale of the project's potential;
• Mount Egerton gold project (Western Australia):
  • Exploration targeting high-grade near-surface mineralization through reverse circulation drilling, mapping and geochemical surveys;
• Eastmain gold mine (Quebec, Canada):
  • Scoping study to assess early-stage technical and economic development options for the high-grade resource;
• General:
  • Working capital and corporate costs.

Placement details

The placement was undertaken at an issue price of 98.5 Australian cents, being the closing share price on the Australian Securities Exchange on Friday, Aug. 8, 2025.

The company will issue 30,406,091 CDIs under its existing placement capacity under ASX listing Rule 7.1 (tranche 1 placement).

A director of the company intends to subscribe for 50,762 CDIs ($50,000 (Australian)) in the placement (tranche 2 placement), subject to shareholder approval at a general meeting that will be held in due course.

It is anticipated that settlement of the tranche 1 placement will occur on Wednesday, Aug. 20, 2025, and the CDIs will be allotted and commence trading on Thursday, Aug. 21, 2025. The tranche 2 placement is expected to complete in early October, 2025. The placement CDIs will rank equally with existing CDIs from the date of issue.

Euroz Hartleys Ltd. acted as lead manager to the placement.

About Benz Mining Corp.

Benz Mining is a pure play gold exploration company dual listed on the TSX Venture Exchange and the Australian Securities Exchange. The company owns the Eastmain gold project in Quebec and the recently acquired Glenburgh and Mount Egerton gold projects in Western Australia.

Benz's key point of difference lies in its team's deep geological expertise and the use of advanced geological techniques, particularly in high-metamorphic terrane exploration. The company aims to rapidly expand its global resource base and solidify its position as a leading gold explorer across two of the world's most prolific gold regions.

The Glenburgh gold project features a historical (for the purposes of National Instrument 43-101) mineral resource estimate of 16.3 million tonnes at 1.0 gram per tonne gold (510,100 ounces of contained gold). A technical report prepared under NI 43-101 (Standards of Disclosure for Mineral Projects) titled "NI 43-101 Technical Report on the Glenburgh-Egerton Gold Project, Western Australia," with an effective date of Dec. 16, 2024, has been filed with the TSX Venture Exchange and is available under the company's profile at SEDAR+.

The Eastmain gold project in Quebec hosts a mineral resource estimate dated effective May 24, 2023, and prepared in accordance with NI 43-101 and Joint Ore Reserves Committee (2012) of 1,005,000 ounces at 6.1 g/t Au, also available under the company's profile at SEDAR+, showcasing Benz's focus on high-grade, high-margin assets in premier mining jurisdictions.

Qualified person's statement (NI 43-101)

The disclosure of scientific or technical information in this news release is based on, and fairly represents, information compiled by Mark Lynch-Staunton, who is a qualified person as defined by NI 43-101 and a member of Australian Institute of Geoscientists (membership ID: 6918). Mr. Lynch-Staunton has reviewed and approved the technical information in this news release. Mr. Lynch-Staunton owns securities in Benz Mining.

Historical mineral resource estimates

All mineral resource estimates in respect of the Glenburgh gold project in this news release are considered to be historical estimates as defined under NI 43-101. These historical estimates are not considered to be current and are not being treated as such. These estimates have been prepared in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists, and Minerals Council of Australia (JORC Code), and have not been reported in accordance with NI 43-101. A qualified person (as defined in NI 43-101) has not done sufficient work to classify the historical estimates as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical data to verify the historical estimates as current mineral resources.

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