Benz Appoints Chief Executive Officer
Benz Appoints Chief Executive Officer
HIGHLIGHTS
Mark Lynch-Staunton, previously Benz Mining's Chief Development Officer, promoted to Chief
Executive Officer, bringing extensive expertise in exploration, project development, and mine-
building to the role.
Since joining Benz over a year ago, Mr Lynch-Staunton has been instrumental in shaping the
Company's strategy, particularly in driving the acquisition of high-grade gold assets in Western
Australia.
With proven experience in managing large-scale projects, including the multi-million-ounce
Bulyanhulu Gold Mine, Mr. Lynch-Staunton is well-positioned to lead Benz through its next phase of
growth.
Vancouver, British Columbia--(Newsfile Corp. - November 25, 2024) - Benz Mining Corp. (TSXV: BZ)
(ASX: BNZ) (
Benz
or the
Company
) is pleased to announce the promotion of Mr. Mark Lynch-Staunton
to Chief Executive Officer (
CEO
). Since joining Benz as Chief Development Officer in December 2023,
Mr. Lynch-Staunton has played a pivotal role in advancing Benz's strategic initiatives and expanding its
portfolio of high-quality gold assets, particularly with the recent acquisitions of the Glenburgh Gold
Project and the Mt. Egerton Gold Project, located in Western Australia, from Spartan Resources Limited
(ASX: SPR), as announced on 6 November 2024.
Mr. Lynch-Staunton's extensive experience spans over 15 years in metals and mining, with a
distinguished record in exploration, feasibility studies, and project development. His past work includes
senior management roles at Barrick Gold Corporation, where he led large multidisciplinary teams on
some of the world's largest mineral deposits, including overseeing the feasibility and recommissioning of
the multi-million-ounce Bulyanhulu Gold Mine.
Mark Lynch-Staunton commented on his new role:
"I am excited to step into the CEO role and lead Benz through this important growth phase. Our new
assets in Western Australia, combined with our existing projects in Quebec, provide a unique
opportunity to drive substantial value for our shareholders. I look forward to building on the progress
we have made and working with our talented team to unlock the full potential of Benz's world-class
portfolio."
Benz Executive Chairman, Evan Cranston, commented on the appointment:
"Mark's leadership and strategic insight have been vital to Benz's recent achievements. His
appointment as CEO is a natural progression for both Mark and Benz, and we are confident his
proven experience in exploration and mine development will continue to drive the Company's growth.
The Board extends its congratulations to Mark Lynch-Staunton on his well-deserved appointment as
CEO and looks forward to the continued development of Benz's premier gold assets under his
leadership."
Mr. Lynch-Staunton's remuneration package, including base salary, incentive components, and any
performance-based equity arrangements, are detailed in Appendix 1.
The Company has also agreed to issue in aggregate a total of 2,000,000 options to certain consultants
of the Company. All were granted in accordance with the Company's Omnibus Equity Incentive
Compensation Plan and are in accordance with policies of the TSX Venture Exchange. These options
have an exercise price of C$0.25 and expire two years from their date of grant.
This announcement has been approved for release by the Board.
For more information please contact:
Mark Lynch-Staunton
Chief Executive Officer
Benz Mining Corp.
E:
T: +61 8 6143 6702
About Benz Mining Corp.
Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) is a pure-play gold exploration company dual-listed on the
TSX Venture Exchange and Australian Securities Exchange. The Company owns the Eastmain Gold
Project in Quebec, with a NI 43-101 and JORC (2012) compliant mineral resource of 1,005,000 ounces
at 6.1g/t Au, showcasing Benz's focus on high-grade, high-margin assets in premier mining jurisdictions.
On 6 November 2024, Benz announced a binding agreement to acquire the Glenburgh and Mt. Egerton
Gold Projects in Western Australia from Spartan Resources Limited (ASX: SPR). This acquisition, once
completed, will mark a transformational step, establishing Benz as a multi-jurisdictional gold exploration
company with a focus on unlocking value in underexplored assets. The Glenburgh Project features a
Mineral Resource Estimate of 16.3Mt at 1.0 g/t Au (510,100 ounces of contained gold).
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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For more information, please visit:
https://benzmining.com/
.
Competent Person's Statement (JORC Code)
The Mineral Resource Estimates for the Eastmain Project and the Glenburgh Project were previously
reported in accordance with Listing Rule 5.8 on 24 May 2023 and 6 November 2024, respectively. The
Company confirms that it is not aware of any new information or data that materially affects the
information included in the original market announcements and confirms that all material assumptions
and technical parameters underpinning the Estimates continue to apply and have not materially changed.
The Company confirms that the form and context in which the Competent Person's findings are
presented have not been materially modified from the original market announcements.
Historical Mineral Resource Estimates
All mineral resource estimates in respect of the Glenburgh Project in this news release are considered to
be "historical estimates" as defined under NI 43-101-
Standards of Disclosure for Mineral Projects
(
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) (
Qualified Person
) 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 in order to verify
the historical estimates as current mineral resources.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information"
or "forward looking statements" (collectively
Forward-Looking Information
) as such term is used in
applicable Canadian securities laws. Forward-Looking Information includes, but is not limited to,
disclosure regarding the acquisition of the Glenburgh and Mt Egerton projects and the anticipated
benefits thereof, planned exploration and related activities on the Glenburgh and Mt Egerton projects, the
anticipated timing of completion of the acquisition. In certain cases, Forward-Looking Information can be
identified by the use of words and phrases or variations of such words and phrases or statements such
as "anticipates", "complete", "become", "expects", "next steps", "commitments" and "potential", in
relation to certain actions, events or results "could", "may", "will", "would", be achieved. In preparing the
Forward-Looking Information in this news release, the Company has applied several material
assumptions, including, but not limited to, that all requisite approvals in respect of the acquisition will be
received, and all conditions precedent to completion of the acquisition will be satisfied, in a timely
manner; the Company will be able to raise additional capital as necessary; the current exploration,
development, environmental and other objectives concerning the Company's Projects (including
Glenburgh and Mt Egerton) can be achieved; and the continuity of the price of gold and other metals,
economic and political conditions, and operations.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from those projected in such forward-looking
information. Factors that could cause the forward-looking information in this news release to change or
to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not
to be valid or reliable, that occurrences such as those referred to above are realized and result in delays,
or cessation in planned work, that the Company's financial condition and development plans change,
and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company
as set forth in the Company's continuous disclosure filings filed under the Company's profile at
www.sedarplus.ca
and
www.asx.com.au
. Accordingly, readers should not place undue reliance on
Forward-Looking Information. The Forward-looking information in this news release is based on plans,
expectations, and estimates of management at the date the information is provided and the Company
undertakes no obligation to update these forward-looking statements, other than as required by
applicable law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Appendix 1: Summary of Key Terms of CEO Employment Contract
Commencement date
25 November 2024
Remuneration
Annual salary of A$270,000 per annum (excluding superannuation)
Term of appointment
No fixed term until terminated by either party in accordance with the employment contract. Contract
includes an annual review.
Termination
Three (3) month termination clause on both parties. Statutory entitlements will be paid as required by
law.
Incentives
On commencement date, to be issued, pursuant to the Company's Omnibus Equity Incentive
Compensation Plan and policies of the TSX Venture Exchange, an additional 2 million unquoted
options with an exercise price of C$0.32, expiring 3 years from date of issue.
Mr. Lynch-Staunton was issued a total of 3 million unquoted options upon his appointment as Chief
Development Officer, which he still holds.
Mr. Lynch-Staunton is entitled to participate in any short term or long-term incentive plan the
Company may introduce from time to time, subject to the rules of any applicable plan and as agreed
with the Board.
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