Mr. Mark Lynch-Staunton reports

BENZ ANNOUNCES CLOSING OF A$75M FINANCING

Further to Benz Mining Corp.'s announcement dated Jan. 28, 2026, in relation to the private placement for 32,327,587 new fully paid CHESS Depositary Interests (CDIs) in the company at an issue price of $2.32 (Australian) ($2.20) per CDI to raise $75-million (Australian) ($71,227,500 (Canadian)) (before costs), Benz Mining has successfully completed the placement. Each CDI represents one underlying common share in the company on a one-for-one basis.

Proceeds from the placement will enable Benz to significantly increase activities 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 continuation of RC (reverse circulation) and diamond drilling programs targeting resource growth, infill drilling and extension of known mineralization at the Icon, Tuxedo and broader Glenburgh system as well as follow-up drilling at the Egerton Project, geological and technical studies, including assay analysis, geological modelling, interpretation and targeting to support resource definition and growth, drill access preparation, heritage clearances, environmental approvals and associated field costs across the company's project portfolio, and general corporate and administrative costs to support continuing operations and exploration activities.

Pursuant to the terms of a capital-raising engagement letter, dated as of Jan. 28, 2026, between Euroz Hartleys Ltd., SCP Resource Finance LP and the company, Euroz and SCP acted as joint lead managers to the placement and provided certain capital-raising services to the company in respect thereof. In accordance with the terms of the capital-raising engagement, the joint lead managers were paid a combined commission equal to 4 per cent of the gross proceeds raised under the placement, in the aggregate amount of $3-million (Australian) ($2,849,100 (Canadian)) (plus goods and services tax), of which they will pay a sum equal to $100,000 (Australian) ($94,970 (Canadian)) to Tamesis Partners LLP for services rendered to the company for the placement. The Euroz Hartleys portion of the fee will be payable in cash and the SCP portion of the fee will be paid by the issue to SCP of 646,552 Benz CDIs (based on a price an issue price of $2.32 (Australian) or $2.20 (Canadian)).

The placement remains subject to the final approval of the TSX Venture Exchange. The CDIs and underlying common shares issued in connection with the placement are subject to a statutory hold period in Canada of four months and one day from the date of issuance.

Australian dollar amounts disclosed above were converted into Canadian dollars using the Bank of Canada's exchange rate posted on Jan. 28, 2026, of $1 (Australian) equal to 94.97 Canadian cents.

This announcement has been approved for release by the board.

About Benz Mining Corp.

Benz Mining is a pure play gold exploration company dual listed on the TSX-V and 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 grow its global resource base and solidify its position as a leading gold explorer across two of the world's most prolific gold regions.

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