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Benchmark Metals issues 3 warrants to first nations

2021-07-22 16:27 ET - News Release

Mr. John Williamson reports

BENCHMARK ANNOUNCES ISSUANCE OF SHARE PURCHASE WARRANTS TO FIRST NATIONS UNDER EXPLORATION COOPERATION AGREEMENT

Further to Benchmark Metals Inc.'s press release dated May 4, 2021, in connection with its exploration co-operation and benefits agreement dated effective March 25, 2021, with the Tsay Key Dene Nation, Kwadacha Nation and Takla Nation, the company has received TSX Venture Exchange acceptance for the issuance of three non-transferable share purchase warrants to acquire up to 100,000 common shares of the company at an exercise price of $1.30 per share until July 21, 2024, one such warrant being issued to the nominees of each of the three first nations.

John Williamson, chief executive officer, commented: "The warrants awarded to the partner first nations are a significant step to advancing the project with first nations' ownership and support. The warrants represent a collaborative process for responsible resource development."

"The call warrants to be issued by Benchmark to the Tse Keh Nay First Nations is further proof that Benchmark values its relationship with the Tse Keh Nay First Nations," said Chief Pierre from Tsay Keh Dene Nation. "It also clearly shows that, where a mining project is based on mutual respect between a proponent and first nations, responsible development and partnership, first nation participation both adds value to the project and increases certainty for all parties."

The warrants were issued pursuant to an exemptive relief order issued by the Alberta Securities Commission (ASC) on behalf of the Alberta Securities Commission and the British Columbia Securities Commission.

The warrants and the common shares issuable on exercise of the warrants are subject to a hold period until Nov. 21, 2021, in accordance with applicable securities laws.

About Benchmark Metals Inc.

Benchmark Metals is a Canadian-based gold and silver company advancing its 100-per-cent-owned Lawyer's gold-silver project located in the prolific Golden Horseshoe of Northern British Columbia, Canada. The project consists of three mineralized deposits that remain open for expansion, in addition to 20-plus new target areas along the 20-kilometre trend. Benchmark is managed by proven resource sector professionals, who have a record of advancing exploration projects from grassroots scenarios through to production.

We seek Safe Harbor.

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