Grant of Incentive Equity Compensation
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
TSXV:BZ, ASX:BNZ 18 December 2023
GRANT OF INCENTIVE EQUITY COMPENSATION
Benz Mining Corp. (TSXV:BZ, ASX:BNZ) (Benz or the Company) advises that it has agreed to issue in aggregate
1,000,000 performance share units ( PSUs) and 3,000,000 incentive stock options ( Options) to certain
consultants and employees 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.
100% of the PSUs will vest on a date one year from their date of grant with 1,000,000 common shares issuable
pursuant to vesting of the PSU’s upon the achievement of certain performance milestones by the Company.
In relation to the Options, 1,500,000 Options have an exercise price of C$0.35 and expiry three years from
their date of grant and 1,500,000 Option have an exercise price of C$0.45 and expiry four years from their
date of grant.
This announcement has been authorised for release by the Board of Benz Mining Corp.
For more information please contact:
Mark Lynch-Staunton
Chief Development Officer
Benz Mining Corp.
+61 8 6143 6702
Dannika Warburton
Principal
Investability Partners
+61 401 094 261
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
About Benz Mining Corp.
Benz Mining Corp. (TSXV:BZ, ASX:BNZ) brings
together an experienced team of geoscientists and
finance professionals with a focused strategy to
unlock the immense mineral potential of the
Upper Eastmain Greenstone Belt in Northern
Quebec, which is prospective for gold, lithium,
nickel, copper, and other high-value minerals.
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 and
owns 100% of the Windy Mountain project.
At the Eastmain Gold Project, Benz has identified
a combination of over 380 modelled in-hole and
off-hole DHEM conductors over a strike length of
6km which is open in all directions (final
interpretation of some of the conductors still
pending).
In 2021, Benz confirmed the presence of visible
spodumene in a pegmatite at the Ruby Hill West
Project, indicating lithium mineralisation which
Benz intends to further explore.
Benz tenure over Upper Eastmain Greenstone Belt on
simplified geology.
About Eastmain Gold Project
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 1Moz at 6.1g/t gold
(Indicated: 384koz at 9.0g/t gold, Inferred: 621koz
at 5.1g/t gold). The existing gold mineralisation 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 12km long zone along
strike from the Eastmain Mine with very limited
but highly encouraging testing outside the existing
resource area.
About Ruby Hill West Lithium Project
The Ruby Hill West Lithium project is a surface
occurrence of spodumene bearing pegmatite
within the Ruby Hill West project, located 50km
due west of the Eastmain exploration camp. The
occurrence was first sampled in 2016 by Eastmain
Resources and then by Quebec government
geologists in 2018. Only limited sampling was
conducted by both groups.
In March 2022 Benz conducted a drilling program
at the Ruby Hill West lithium pegmatite prospect
and reported a 31.2m at 0.9% Li 2O interval of
visible spodumene rich pegmatite in the drilling
(ASX & TSX-V releases dated 29 April 2022
“Multiple spodumene pegmatites intersected at
Ruby Hill West”) .
Competent Person's Statement: The information in this announcement that relates to historical
exploration results was first reported to the ASX in accordance with ASX Listing Rule 5.7. 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.
The mineral resource estimate in this announcement was reported by the Company in accordance
with ASX Listing Rule 5.8 on 24 May 2023. The Company confirms it is not aware of any new
information or data that materially affects the information included in the previous announcement
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
and that all material assumptions and technical parameters underpinning the estimates in the
previous announcement continue to apply and have not materially changed.
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 because 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.sedarplus.ca. 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.