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Benz Mining: PhotonAssay of 2020 Core Underway in Perth

Metallurgy & Processing

Benz Mining: PhotonAssay of 2020 Core

Underway in Perth

HIGHLIGHTS

Reject samples from the 2020 drilling campaign have arrived at MinAnalytical in Perth,

Western Australia for analysis by PhotonAssay

Samples had been integrated in the laboratory schedule ahead of delivery to allow for

immediate start at reception and analysis has started

Whole rock analysis to be conducted capturing visible gold, observed in core and

potentially not reflected in standard fire assays

Historical analysis from 2010/11 programs highlighted that fire assays under called

grades by on average 34% compared with screen fire assays

Analysis run in conjunction with large scale heterogeneity test quantifying the nature of

the high-grade gold at the Eastmain deposit

Understanding and quantifying the nature of high-grade gold mineralisation will improve

future resource estimate and confidence

Toronto, Ontario--(Newsfile Corp. - July 7, 2021) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the

Company

or

Benz

) is pleased to announce that a single shipment of over 8t of coarse rejects from its

2020 drilling campaign has been received by MinAnalytical's Perth laboratory from Quebec.

Coarse rejects are the leftover material from the processing of core samples during the assaying

process. On average, coarse rejects represent over 80% of the core samples submitted to Actlabs in

Quebec for standard fire assays in 2020 (fire assays with both AAS and gravimetric finish, only using a

50g subsample of the material submitted).

The industry standard fire assay method used in the 2020 drill program includes fine grinding and

pulverisation of samples to a particle size of 75µm. Due to the malleable nature of gold, nuggets with a

size over 75µm have a chance of being retained in the fraction of the sample that is not analysed.

Benz geologists have observed multiple occurrences of visible gold in the core from Eastmain. Visible

gold usually indicates that gold particles are larger than the 75µm of the sieve used in the fire assay

preparation.

CEO Xavier Braud Commented:

"The numerous observations of visible gold in core from the

Eastmain Project mean that we need to use an assay method best suited to high-grade gold.

PhotonAssay will give us a much better estimation of true gold grade in our drill core as the sample

method removes the bias created during the sample preparation in traditional assay methods. If this

round of assays shows that fire assay analytical methods have underestimated grades, then we can

legitimately ask ourselves about a potential underestimation of our current resource which is based on

historical fire assay results."

The coarse rejects shipped to Australia have been crushed to a size of 2mm.

The whole lot of the samples will be assayed, providing a whole rock analysis, capturing all the gold

present in each sample without the bias introduced by subsampling, fine grinding and sieving.

The expectation is that a method capturing the oversized gold fraction will return more accurate assays

better correlating grade and geological observations.

Figure 1: EM20-137, Fire Assay results: 1.5m at 2.8g/t Au from 519.5, 30 grains of visible gold

observed (being re-assayed by PhotonAssay)

To view an enhanced version of this graphic, please visit:

https://orders.newsfilecorp.com/files/1818/89648_pic1.jpg

Figure 2: EM20-132 - Fire Assay Results - 3.0m at 13.7g/t Au from 531.8m, one grain of visible

gold observed (being re-assayed by PhotonAssay)

To view an enhanced version of this graphic, please visit:

https://orders.newsfilecorp.com/files/1818/89648_b7095947f45009dd_004full.jpg

Screen fire assays (metallic screen) (SFA-Grav) vs. fire assays (FA-AAS) in 2010-11 drill results

from the Eastmain Project

During the 2010 and 2011 drilling campaigns at Eastmain, observations of visible gold prompted the

geological team to submit samples for both fire assays (FA-AAS) and screen fire assays (metallic

screen) (SFA-Grav).

A total of 361 samples were submitted for analysis with 2 duplicate measurements conducted by FA-

AAS and one by SFA-Grav. The average gold grade over the 361 samples by standard fire assay is

2.24g/t Au whilst metallic screen returned an average of 3.04g/t Au, an increase of 34% in the average

measured grade.

The graph in Figure 3 shows a plot of the historical results by SFA-Grav versus results obtained by FA-

AAS (average of the 2 duplicate results).

Figure 3: Assays by fire assays vs screen fire assays in 361 sets of duplicates from 2010 and

2011 drilling campaigns

To view an enhanced version of this graphic, please visit:

https://orders.newsfilecorp.com/files/1818/89648_picture1.jpg

Both metallic screen and standard fire assay methods use a subsample from the half core sample

submitted to the laboratory.

In the case of fire assays, the aliquot (the final sample physically used for analysis) is 50g.

In the case of metallic screen FA, the aliquot used is 1kg.

Both fire and metallic screen fire assays involve some level of preparation of the sample.

In the case of fire assays, the whole half core sample is crushed down to a maximum particle size

of 2mm. Then a subsample of 250g is pulverized until 80% of the sample passes a 75µm mesh.

The final aliquot is obtained by sampling 50g from the fraction finer than 75µm.

In the case of screen fire assays, the whole half core sample is crushed for a set period of time. A

1kg subsample is collected and screened through a 106µm mesh. The coarse and fine fractions

are assayed separately by fire assay and the final reported result is a weighted average of the

coarse and fine fraction analysis.

Screen fire assays partly remove the sampling bias introduced by the small size of the subsample and

the fine grinding to 75µm used in fire assays.

Benz has used both the standard 50g fire assay with AAS and gravimetric finish and, in 2021, has used

metallic screen FA with gravimetric finish for mineralised samples and those with visible gold.

Benz is currently analysing core sample rejects from its 2020 drilling campaign by PhotonAssay, a

technology using high energy x-ray fluorescence.

PhotonAssay technology should be an improvement on both analytical methods for the following

reasons:

100% of rejects sampled (>80% of the core samples originally submitted) - larger sample

No fine grinding - no further processing of the material than standard 2mm crush

No screening bias

No destruction of the sample - the samples can still be assayed by another method afterwards

Further details on PhotonAssay technology can be found here.

https://www.chrysos.com.au/replacing-

fire-assay

The Eastmain Gold Project, situated on the Upper Eastmain Greenstone Belt in Quebec, Canada,

currently hosts a NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9gpt gold (Indicated:

236,500oz at 8.2gtp gold, Inferred: 139,300oz at 7.5gtp gold). The existing gold mineralization is

associated with 15-20% semi-massive to massive pyrrhotite, pyrite and chalcopyrite in highly deformed

and altered rocks making it amenable to detection using electromagnetic techniques.

Multiple gold

occurrences have been identified by previous explorers over a 10km long zone along strike from the

Eastmain Mine with very limited but highly encouraging testing outside the existing resource area.

This press release was prepared under supervision and approved by Dr. Danielle Giovenazzo, P.Geo,

acting as Benz's qualified person under National Instrument 43-101.

About Benz Mining Corp.

Benz Mining Corp. brings together an experienced team of geoscientists and finance professionals with

a focused strategy to acquire and develop mineral projects with an emphasis on safe, low risk

jurisdictions favourable to mining development. Benz is earning a 100% interest in the former producing

high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects in Quebec.

The Eastmain Gold Project is situated within the Upper Eastmain Greenstone Belt in Quebec, Canada

and currently hosts a NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9gpt gold. The

existing gold mineralization is associated with 15-20% semi-massive to massive pyrrhotite, pyrite and

chalcopyrite making it amenable to detection by electromagnetics.

Several gold mineralization

occurrences have been identified by previous explorers over a 10km long zone along strike from the

Eastmain Mine with very limited testing outside the existing resource area.

On behalf of the Board of Directors of Benz Mining Corp.

Xavier Braud, CEO

For more information please contact:

Paul Fowler

Head of Corporate Development (Canada)

Benz Mining Corp.

Telephone: +1 416 356 8165

Email:

[email protected]

Xavier Braud

CEO, Head of Corporate Development (Aus)

Benz Mining Corp.

Telephone +61 423 237 659

Email:

[email protected]

Forward-Looking Information:

Certain statements contained in this news release may constitute

"forward-looking information" as such term is used in applicable Canadian securities laws. Forward-

looking information is based on plans, expectations and estimates of management at the date the

information is provided and is subject to certain factors and assumptions, including, that the Company's

financial condition and development plans do not change as a result of unforeseen events and that the

Company obtains regulatory approval. 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.sedar.com

. 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.

Competent Person's Statements:

The information in this report that relates to Exploration Results is

based on and fairly represents information and supporting information compiled by Mr Xavier Braud,

who is a member of the Australian Institute of Geoscientists (AIG membership ID:6963). Mr Braud is a

consultant to the Company and has sufficient experience in the style of mineralization and type of

deposits under consideration and qualifies as a Competent Person as defined in the 2012 edition of the

"Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr

Braud holds securities in Benz Mining Corp and consents to the inclusion of all technical statements

based on his information in the form and context in which they appear.

The information in this announcement that relates to the Inferred Mineral Resource was first reported

under the JORC Code by the Company in its prospectus released to the ASX on 21 December 2020.

The Company confirms that it is not aware of any new information or data that materially affects the

information included in the original market announcement and confirms that all material assumptions and

technical parameters underpinning the estimate 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 announcement

Appendix 1: Historical data (2010-11 assays data used in this release)

Table 1: Drillholes collar information

Hole_ID

Easting_X_Nad83Z18

Northing_Y_Nad83Z18

Elevation

TotDepth

Azimut_at_CLR

Dip_at_CLR

EM10-02

698873.9

5798667

483.912

444

224

-85.39

EM10-03

698822.8

5798639

484

387

246

-79.27

EM10-04

698868.9

5798671

483.87

423

257

-80.27

EM10-05

698835.5

5798569

484.636

330

223

-85.31

EM10-12

694522.2

5801514

505

309

218

-43.43

EM10-13

694522.2

5801514

505

342

220

-60.35

EM10-17

698705.9

5798655

484.72

315

209

-80.14

EM10-18

698943.1

5798733

483.905

480

205

-86.9

EM10-19

698942.5

5798733

483.944

402

239

-68.48

EM10-22

698986.7

5798759

484.389

450

238

-74.98

EM10-26

699084.1

5798450

481.509

279

217

-59.69

EM10-28

699082.5

5798341

480.931

249

213

-79.57

EM10-29

699081.9

5798340

480.903

237

220

-53.81

EM10-30

699138.9

5798265

486.53

246

199

-84.01

EM10-33

699297.1

5798420

480.231

354

216

-75.79

EM10-34

699296.9

5798419

480.174

366

227

-85.24

EM10-36

699229.4

5798287

482.929

279

211

-76.4

EM10-37

699205.7

5798177

485.568

216

217

-71.33

EM10-38

699016.4

5798038

489.257

195

218

-56.09

EM10-42

699425.9

5798261

481.801

351

210

-74.92

EM10-43

699472.3

5798216

482.014

351

208

-80.7

EM10-46

699961.3

5797734

487.645

330

209

-79.29

EM11-48

698933.5

5798922

489

507

213

-62

EM11-49

698933.5

5798922

488.9738

534

195

-84.6

EM11-50

698952.9

5798918

488

543

208

-60

EM11-51

698952.9

5798918

488

573

207

-53.1

EM11-52

698952.9

5798918

488

528

207

-45.1

EM11-53

698952.9

5798918

488

51

207

-43.4

EM11-54

698931

5798930

489

516

211

-44.9

EM11-58

699142.7

5798915

485

561

215

-71.5

EM11-59

699225

5798037

492

204

215

-69.9

EM11-60

699284

5798500

486

552

177

-83.4

EM11-61

699346.4

5798519

483

522

203

-83.9

EM11-62

699415.2

5798509

481

525

197

-78.5

EM11-63

699556.1

5798429

480

507

213.75

-74

EM11-64

699579

5798397

481

501

208

-73.4

EM11-65

699619.1

5798346

481

498

212

-73.4

EM11-66

699619.1

5798346

481

501

208

-78.8

EM11-67

699512

5798177

483

393

196

-84.9

EM11-69

700000.6

5797789

486

375

200

-84.5

EM11-70

700025

5797831

486

411

196

-84.5

EM11-71

700020.3

5797718

494

408

213

-70.2

EM11-72

700102

5797662

498

363

212

-68

EM11-74

700350

5797750

499

483

210

-75

Table 2: Assay data

S

ample#

Hole ID

Gold (g/t) method

Au-AA26

(fire assay, AAS Finish)

Gold (g/t) method

Au-AA26

(fire assay, AAS Finish)

duplicate sample

Gold (g/t) method

Au-SCR24

(Screen fire assay,

gravimetric finish

C152757

EM10-03

0.24

0.25

0.25

C152759

EM10-03

7.09

6.94

11.55

C152760

EM10-03

13.3

11

19.35

C152761

EM10-03

11.55

10.35

17.95

C152762

EM10-03

1.31

1.34

1.68

C152763

EM10-03

1.68

1.85

2.03

C152764

EM10-03

0.01

0.01

0.025

C152765

EM10-03

1.21

1.14

1.6

C152766

EM10-03

0.01

0.01

0.025

C176144

EM10-02

0.31

0.41

0.4

C176145

EM10-02

3.05

2.78

2.99

C176146

EM10-02

2.27

2.07

2.16

C176147

EM10-02

0.48

0.55

0.54

C176148

EM10-02

0.49

0.41

0.46

C176268

EM10-04

0.04

0.04

0.025

C176269

EM10-04

2.29

1.63

2.31

C176270

EM10-04

24.3

21.9

51.4

C176273

EM10-04

0.86

0.41

0.75

C176276

EM10-04

0.4

0.31

0.39

C176278

EM10-04

5.2

5.29

5.55

C176280

EM10-04

2.41

2.57

3.25

C176281

EM10-04

0.89

0.69

1.25

C176282

EM10-04

0.96

0.95

0.99

C176283

EM10-04

1.37

1.26

1.31

C176284

EM10-04

0.29

0.28

0.42

C176417

EM10-05

0.42

0.42

0.42

C176418

EM10-05

1

1.19

1.37

C176419

EM10-05

0.1

0.09

0.09

C176423

EM10-05

0.21

0.17

0.2

C176424

EM10-05

1.71

1.87

1.93

C176426

EM10-05

0.03

0.01

0.025

C178201

EM10-12

0.09

0.06

0.38

C178202

EM10-12

0.96

0.86

1.05

C178203

EM10-12

1.24

0.98

1.25

C178204

EM10-12

1.1

1.22

1.81

C178205

EM10-12

0.15

0.12

0.14

C178206

EM10-12

0.11

0.1

0.12

C178207

EM10-12

0.24

0.27

0.25

C178208

EM10-12

1.09

0.55

0.82

C178209

EM10-12

0.53

0.45

0.48

C178221

EM10-12

0.11

0.11

0.13

C178222

EM10-12

6.75

7.82

8.17

C178223

EM10-12

0.02

0.04

0.05

C178238

EM10-13

0.02

0.02

0.025

C178239

EM10-13

10.1

10.75

13.9

C178240

EM10-13

0.03

0.04

0.14

C178257

EM10-13

0.01

0.005

0.025

C178258

EM10-13

5.57

6.08

8.73

C178259

EM10-13

0.18

0.18

0.18

C178263

EM10-13

0.005

0.01

0.025

C178264

EM10-13

6.79

6.09

11.75

C178265

EM10-13

0.13

0.08

0.28

C178267

EM10-13

0.01

0.01

0.025

C178268

EM10-13

3.63

3.66

4.07

C178269

EM10-13

0.96

0.98

0.98

C178273

EM10-13

0.01

0.01

0.025

C178274

EM10-13

2.39

2.95

2.69

C178276

EM10-13

0.02

0.02

0.025

C179567

EM10-17

0.51

0.51

0.48

C179568

EM10-17

9.38

9.98

10.1

C179569

EM10-17

0.06

0.06

0.06

C179682

EM10-18

0.04

0.04

0.025

C179683

EM10-18

1.09

1.09

1.1

C179684

EM10-18

0.04

0.04

0.025

C179766

EM10-19

0.56

0.55

0.59

C179767

EM10-19

2.35

2.56

3.42

C179768

EM10-19

3.14

3.76

4.41

C179769

EM10-19

7.36

8

9.52

C179770

EM10-19

2.24

2.43

2.91

C179771

EM10-19

0.79

0.71

0.79

C179772

EM10-19

11.65

10.6

14.3

C179773

EM10-19

1.56

1.85

2.08

C179774

EM10-19

0.49

0.64

0.69

C179776

EM10-19

4.13

4.29

4.56

C179777

EM10-19

0.35

0.12

0.26

C179778

EM10-19

0.03

0.05

0.025

C179779

EM10-19

0.01

0.06

0.025

C179780

EM10-19

3.49

4.4

5.17

C179781

EM10-19

0.03

0.02

0.025

G0779169

EM10-03

0.01

0.005

0.025

G0779397

EM10-33

0.01

0.01

0.025

G0779398

EM10-33

1.02

1.16

2.07

G0779399

EM10-33

4.22

4.32

7.21

G0779872

EM10-18

0.02

0.01

0.025

G0779873

EM10-18

1.03

0.37

0.83

G0779874

EM10-18

0.04

0.03

0.025

H875044

EM10-22

0.67

0.6

0.75

H875045

EM10-22

3.93

4.22

6.94

H875046

EM10-22

0.05

0.02

0.025

H875047

EM10-22

0.05

0.99

0.56

H875048

EM10-22

0.005

0.28

1.52

H875049

EM10-22

0.47

0.21

0.52

H875153

EM10-26

0.01

0.01

0.025

H875154

EM10-26

1.3

1.55

1.87

H875155

EM10-26

0.06

0.06

0.08

H875171

EM10-26

0.59

0.58

0.72

H875172

EM10-26

1.09

0.97

1.11

H875173

EM10-26

0.005

0.005

0.025

H875183

EM10-28

0.09

0.1

0.09

H875184

EM10-28

8.29

10.7

13.9

H875185

EM10-28

0.05

0.16

0.23

H875186

EM10-28

1.16

0.72

1.19

H875187

EM10-28

2.24

2.3

2.95

H875188

EM10-28

0.67

0.78

0.9