Benjamin Hill Announces Closing of Oversubscribed $5 Million Financing

Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) (FSE: 5YZ0) ("BNN" or the "Company"), further to its press release of March 4, 2024, is pleased to announce that it has closed its previously announced private placement financing of an aggregate of 8,352,750 units (the "Units") at a price of $0.64 per Unit for aggregate gross proceeds of $5,345,760 (the "Offering").

The Offering was conducted on a "best efforts" private placement basis by Eight Capital, as lead agent and sole bookrunner (the "Agent"). The Offering was structured such that 6,792,500 Units (the "LIFE Units") for aggregate proceeds of $4,347,200 were sold pursuant to the "listed issuer financing" prospectus exemption whereby these securities will not subject to any hold period and 1,560,250 Units (the "Accredited Investor Units") for aggregate proceeds of $998,560 were offered pursuant to the "accredited investor" prospectus exemption whereby these securities will be subject to a statutory hold period of four months and one day. As the base Offering was oversubscribed, the Agent exercised an option granted by the Company to arrange for the sale of additional Units (the "Agent's Option"), included in the amounts above.

Each Unit consisted of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share of the Company (a "Warrant Share") for a period of 36 months following the issuance thereof at an exercise price of $0.80 per Warrant Share.

In accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the LIFE Units were made available to purchasers resident in each of the Provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). The securities offered under the Listed Issuer Financing Exemption are not subject to a hold period in accordance with applicable Canadian securities laws.

The Accredited Investor Units were made available to purchasers resident in each of the Provinces of Canada, except Quebec, pursuant to the accredited investor exemption under Section 2.3 of NI 45-106, and re subject to a statutory hold period of four months plus one day from issuance in accordance with applicable Canadian securities laws.