Benz Announces New Discovery at Icon Strengthened with Further Broad Gold Intercepts

2025-08-20

TSXV - TSX Venture Exchange · Gold · Copper · Silver · Lithium · Cesium · Tantalum · Rubidium · Nickel · Beryllium · Tin · Niobium · Canada

New results rank among the thickest gold intercepts to date at Glenburgh, reinforcing the potential for a significant bulk tonnage gold system

HIGHLIGHTS:

Further step-out holes drilledat Icon targeting a large gap under previous drilling returned broad zones of gold mineralisation, confirming continuity and significant potential for resource growth: 142m at 0.95g/t goldfrom 227m within a broader 229m at 0.7g/t gold(25GLR_048) 102m at 1.0g/t goldfrom 96m (25GLR_058), pending assays for remainder of hole All holes ended in mineralisationand will be extended to test the central lens position

Drilling has also intersected the newly discovered Central Lens, which remains only partially drilled and open, with holes ending in strong mineralisation: 55m at 1.1g/t goldfrom 447m within 275m at 0.6g/t gold(25GLR_044) ending in mineralisation 43m at 0.9g/t gold from 352m (25GLR_036)ending in mineralisation1with further assays pending Holes to be re-entered for extension

Drilling to continue with four RC drill rigs fully funded by recent A$30m bought deal2, with two dedicated to the exciting bulk tonnage potential at Icon

Vancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Benz Mining Corp (ASX: BNZ) (TSXV: BZ)("Benz"or the "Company") is pleased to report further strong results from ongoing drilling at the Icon Prospect within the Glenburgh Gold Project in Western Australia.

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Figure 1: Oblique plan view of Icon Apollo trend mineralisation and collar locations.

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The Icon deposit forms part of the 1.6 km-long Icon-Apollo trend, historically treated as two separate deposits and only tested by shallow drilling. It sits ~6 km from the recently announced high-grade Zone 126 trend and is positioned within the broader 18 km mineralised corridor of the Glenburgh Gold Project.

Recent drilling by Benz has confirmed the discovery of a third higher-grade lens between the Icon and Tuxedo trends. This new lens sits within wide-scale gold system over 400m in width, representing a major new growth opportunity at Glenburgh.

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Figure 2: Cross section at Icon with viewing window (~300m) looking east along 409650 Easting. Current drill holes extend mineralisation under previously intercepted mineralisation conducted by historical drilling. Previous holes reported in announcement dated 4 August 2025.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1818/263167_45ca39f6f4742a6d_002full.jpg

Benz CEO, Mark Lynch-Staunton, commented:

"The latest results continue to firm up the emerging higher-grade Central Lens at Icon, and it is becoming clear that this is shaping into something very special. These results confirm the strength of the central position, which sits within a 400-metre-wide mineralised corridor - a scale that underscores the system's potential.

"We are now stepping across this 400m corridor to fully drill out the central zone , with two rigs dedicated to unlocking its extent. The fact that this lens is only partially drilled and remains open adds further excitement as we move to test its continuity and scale.

"With success here complementing the continued growth at Zone 126, it is increasingly evident that Glenburgh is not a cluster of small deposits, but a large, evolving gold system with tier-1 potential. Each new hole builds our confidence that we are only at the beginning of uncovering the true scale of this district."

Icon - A large bulk scale opportunity

The geometry, continuity, and thickness of the mineralisation at the 1.6km Icon Apollo Trend — particularly in the near-surface environment — strongly support the potential for a low-strip, bulk-scale open-pit mining operation. This style of deposit is ideally suited to efficient, large-scale development and could deliver significant gold ounces at relatively low cost per tonne.

Previous exploration at Icon appeared to be limited to previous pit shell designs with the majority of holes ending in mineralisation at depth. Benz's current drilling is looking to unconstrain this mineralisation with drilling significantly past the previously drilled boundaries (see Figure 2). This new drilling at depth by Benz has identified a new higher grade gold zone in between the Icon and Tuxedo deposits, potentially widening this zone of mineralisation to in excess of 400m in width. All holes drilled to date have ended in mineralisation. Benz has commenced re-entry of these holes to test the scale of this third lens and to attempt to define the extent of this broad zone of mineralisation.

Planning is currently underway for further step-out drilling to test the full scale and continuity of the Icon Apollo system, with further drilling aimed at expanding the mineralised footprint (particularly at depth) and upgrading the confidence of mineralised volumes ahead of future resource modelling.

These results further reinforce the Company's view that Glenburgh is evolving into a district-scale gold system, with Icon Apollo Trend now emerging as a cornerstone deposit capable of supporting substantial, long-life gold production.

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Figure 3: Glenburgh Project Tenement Package and Benz interpreted geology overview.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1818/263167_45ca39f6f4742a6d_003full.jpg

This announcement has been approved for release by the Board of Benz Mining Corp.

For more information, please contact: Mark Lynch-Staunton Chief Executive Officer Benz Mining Corp. E: mstaunton@benzmining.com 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, and the recently acquired Glenburgh and Mt Egerton Gold Projects in Western Australia.

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.

The Glenburgh Gold Project features a Historical (for the purposes of NI 43-101) Mineral Resource Estimate of 16.3Mt at 1.0 g/t Au (510,100 ounces of contained gold)3. A technical report prepared under NI 43-101- _Standards of Disclosure for Mineral Projects _(NI 43-101) titled "NI 43-101 Technical Report on the Glenburgh - Egerton Gold Project, Western Australia" with an effective date of 16 December 2024 has been filed with the TSX Venture Exchange and is available under the Company's profile at www.sedarplus.ca.

The Eastmain Gold Project in Quebec hosts a Mineral Resource Estimate dated effective May 24, 2023 and prepared in accordance with NI 43-101 and JORC (2012) of 1,005,000 ounces at 6.1g/t Au4, also available under the Company's profile at www.sedarplus.ca, showcasing Benz's focus on high-grade, high-margin assets in premier mining jurisdictions.

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To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1818/263167_45ca39f6f4742a6d_004full.jpg

For more information, please visit: https://benzmining.com/.

Qualified Person's Statement (NI 43-101)

The disclosure of scientific or technical information in this news release is based on, and fairly represents, information compiled by Mr Mark Lynch-Staunton, who is a Qualified Person as defined by NI 43-101 and a Member of Australian Institute of Geoscientists (AIG) (Membership ID: 6918). Mr Lynch-Staunton has reviewed and approved the technical information in this news release. Mr Lynch-Staunton owns securities in Benz Mining Corp.

Historical Mineral Resource Estimates

All mineral resource estimates in respect of the Glenburgh Gold Project in this news release are considered to be "historical estimates" as defined under 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 exploration potential of the Glenburgh Gold Project and the anticipated benefits thereof, planned exploration and related activities on the Glenburgh Gold Project. 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 the accuracy and reliability of the Company's exploration thesis in respect of additional drilling at the Glenburgh Gold Project will be consistent with the Company's expectations based on available information; 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 Gold Projects) 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 early stage nature of the Company's exploration of the Glenburgh Gold Project, 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.caand 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: Collar Table. Coordinates system: GDA94/MGA Zone 50

| Hole number | Easting | Northing | Elevation | End Depth | Dip | Azimuth | | 25GLR_023 | 414796 | 7193986 | 306 | 510 | -60 | 147 | | 25GLR_028 | 414655 | 7193853 | 301 | 400 | -56 | 147 | | 25GLR_029 | 414711 | 7193499 | 303 | 504 | -65 | 296 | | 25GLR_038 | 410028 | 7191260 | 295 | 516 | -60 | 281 | | 25GLR_040 | 409443 | 7191500 | 280 | 402 | -60 | 152 | | 25GLR_041 | 414407 | 7193407 | 303 | 503 | -55 | 337 | | 25GLR_042 | 409435 | 7191527 | 297 | 402 | -60 | 154 | | 25GLR_043 | 414407 | 7193407 | 303 | 504 | -54 | 310 | | 25GLR_044 | 409406 | 7191508 | 280 | 504 | -59 | 151 | | 25GLR_045 | 414014 | 7193620 | 296 | 504 | -53 | 146 | | 25GLR_046 | 409389 | 7191471 | 280 | 456 | -60 | 152 | | 25GLR_048 | 409376 | 7191504 | 281 | 456 | -59 | 157 | | 25GLR_049 | 414827 | 7194014 | 316 | 702 | -60 | 134 | | 25GLR_050 | 409561 | 7191527 | 281 | 360 | -59 | 158 | | 25GLR_051 | 415595 | 7193629 | 305 | 702 | -55 | 318 | | 25GLR_052 | 409634 | 7191561 | 280 | 300 | -55 | 159 | | 25GLR_053 | 414825 | 7193944 | 319 | 552 | -55 | 145 | | 25GLR_054 | 409654 | 7191481 | 280 | 300 | -65 | 158 | | 25GLR_055 | 414825 | 7193944 | 319 | 700 | -60 | 148 | | 25GLR_056 | 409481 | 7191418 | 297 | 354 | -56 | 157 | | 25GLR_057 | 414796 | 7193985 | 317 | 684 | -58 | 138 | | 25GLR_058 | 409563 | 7191493 | 280 | 402 | -55 | 160 | | 25GLR_059 | 414799 | 7193974 | 324 | 654 | -63 | 129 | | 25GLR_061 | 414824 | 7193864 | 324 | 354 | -60 | 147 | | 25GLR_063 | 414824 | 7193864 | 324 | 366 | -50 | 147 | | 25GLR_065 | 414865 | 7193885 | 327 | 354 | -60 | 147 | | 25GLR_066 | 409624 | 7191517 | 280 | 226 | -60 | 160 | | GBZ126_017 | 411825 | 7192306 | 315 | 480 | -60 | 155 | | GBZ126_018 | 411412 | 7192374 | 300 | 306 | -60 | 155 | | GBZ126_019 | 416066 | 7194056 | 312 | 516 | -70 | 160 | | GBZ126_020 | 420178 | 7195872 | 316 | 252 | -65 | 119 | | GBZ126_021 | 415252 | 7193870 | 318 | 348 | -60 | 155 |

Appendix 2: Significant Intercepts Tables.

Higher Grade Intercepts: A nominal 0.9 g/t Au lower cut off has been applied to results, with no maximum internal dilution included unless otherwise stated.

| Hole ID | From | To | Downhole length | Au (ppm) | Comment | | 25GLR_066 | 116 | 128 | 12 | 1.2 | | | 25GLR_066 | 173 | 175 | 2 | 1.1 | | | 25GLR_058 | 90 | 92 | 2 | 1.2 | Partial results | | 25GLR_058 | 96 | 198 | 102 | 1.0 | Partial results | | 25GLR_056 | 114 | 142 | 28 | 1.4 | Partial results | | 25GLR_054 | 123 | 152 | 29 | 1.3 | Partial results | | 25GLR_053 | 312 | 315 | 3 | 2.5 | | | 25GLR_050 | 261 | 266 | 5 | 1.1 | Partial results | | 25GLR_048 | 203 | 205 | 2 | 7.1 | | | 25GLR_048 | 227 | 369 | 142 | 0.9 | | | 25GLR_049 | 582 | 599 | 17 | 1.3 | Partial results | | 25GLR_046 | 173 | 176 | 3 | 1.2 | | | 25GLR_046 | 202 | 204 | 2 | 1.6 | | | 25GLR_046 | 220 | 227 | 7 | 1.2 | | | 25GLR_046 | 235 | 237 | 2 | 1.2 | | | 25GLR_046 | 325 | 327 | 2 | 1.3 | | | 25GLR_046 | 341 | 344 | 3 | 1.4 | | | 25GLR_043 | 255 | 261 | 6 | 1.0 | | | 25GLR_043 | 280 | 283 | 3 | 2.0 | | | 25GLR_044 | 198 | 200 | 2 | 2.2 | | | 25GLR_044 | 258 | 279 | 21 | 1.6 | | | 25GLR_044 | 342 | 344 | 2 | 1.4 | | | 25GLR_044 | 362 | 373 | 11 | 1.0 | | | 25GLR_044 | 378 | 381 | 3 | 1.2 | | | 25GLR_044 | 447 | 502 | 55 | 1.1 | | | 25GLR_041 | 359 | 376 | 17 | 1.0 | | | 25GLR_042 | 270 | 276 | 6 | 1.6 | | | 25GLR_042 | 380 | 384 | 4 | 0.9 | | | 25GLR_040 | 186 | 188 | 2 | 1.8 | | | 25GLR_040 | 202 | 204 | 2 | 1.3 | | | 25GLR_040 | 396 | 401 | 5 | 0.9 | | | 25GLR_038 | 96 | 98 | 2 | 4.7 | | | 25GLR_028 | 331 | 366 | 35 | 1.9 | | | 25GLR_023 | 504 | 510 | 6 | 1.0 | | | 25GLR_023 | 444 | 455 | 11 | 1.0 | | | GBZ126_017 | 273 | 275 | 2 | 4.5 | |

Bulk potential interceptsreported with a nominal 0.3 g/t Au lower cut off with no maximum internal dilution length applied.

| Hole ID | From | To | Length | Au (ppm) | Comment | | 25GLR_066 | 109 | 221 | 112 | 0.3 | | | 25GLR_058 | 81 | 217 | 136 | 0.9 | Partial results | | 25GLR_056 | 39 | 43 | 4 | 0.5 | | | 25GLR_056 | 110 | 142 | 32 | 1.3 | Partial results | | 25GLR_051 | 390 | 394 | 4 | 0.4 | Partial results | | 25GLR_054 | 121 | 167 | 46 | 0.9 | Partial results | | 25GLR_053 | 312 | 356 | 44 | 0.4 | | | 25GLR_050 | 248 | 351 | 103 | 0.3 | Partial results | | 25GLR_048 | 112 | 117 | 5 | 0.4 | | | 25GLR_048 | 199 | 428 | 229 | 0.7 | | | 25GLR_049 | 582 | 616 | 34 | 0.7 | Partial results | | 25GLR_046 | 173 | 409 | 236 | 0.3 | | | 25GLR_043 | 248 | 315 | 67 | 0.3 | | | 25GLR_043 | 345 | 354 | 9 | 0.4 | | | 25GLR_043 | 385 | 405 | 20 | 0.4 | | | 25GLR_043 | 453 | 457 | 4 | 0.6 | | | 25GLR_044 | 193 | 200 | 7 | 0.8 | | | 25GLR_044 | 228 | 503 | 275 | 0.6 | | | 25GLR_041 | 231 | 244 | 13 | 0.4 | | | 25GLR_041 | 249 | 259 | 10 | 0.3 | | | 25GLR_041 | 358 | 423 | 65 | 0.5 | | | 25GLR_042 | 126 | 132 | 6 | 0.3 | | | 25GLR_042 | 265 | 283 | 18 | 0.8 | | | 25GLR_042 | 373 | 402 | 29 | 0.4 | | | 25GLR_040 | 185 | 221 | 36 | 0.3 | | | 25GLR_040 | 248 | 269 | 21 | 0.4 | | | 25GLR_040 | 309 | 312 | 3 | 0.5 | | | 25GLR_040 | 333 | 336 | 3 | 0.3 | | | 25GLR_040 | 356 | 369 | 13 | 0.3 | | | 25GLR_040 | 394 | 401 | 7 | 0.8 | | | 25GLR_038 | 96 | 125 | 29 | 0.4 | | | 25GLR_028 | 329 | 381 | 52 | 1.3 | | | GBZ126_021 | 173 | 176 | 3 | 0.3 | | | GBZ126_021 | 282 | 287 | 5 | 0.4 | | | GBZ126_021 | 300 | 308 | 8 | 0.3 | | | GBZ126_017 | 266 | 275 | 9 | 1.1 | | | GBZ126_017 | 364 | 369 | 5 | 0.6 | | | GBZ126_017 | 389 | 395 | 6 | 0.3 | | | GBZ126_017 | 444 | 447 | 3 | 0.9 | | | GBZ126_015 | 181 | 401 | 220 | 0.4 | |

Appendix 3: JORC Tables

JORC Code, 2012 Edition - Table 1 report template

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Results are part of BNZ's RC drilling campaign at the recently acquired Glenburgh Gold Project situated ~285 km east of Carnarvon via Gascoyne Junction, WA.

RC drilling samples were collected as 1m single samples.

Each sample collected represents each one (1) metre drilled collected from the rig-mounted cone splitter into individual calico bags (~3kg) and stored in labelled sequential polyweave bags for long-term storage.

The rig mounted cyclone/cone splitter was levelled at the start of each hole to aid an even fall of the sample through the cyclone into the cone splitter.

RC drilling sample submissions include the use of certified standards (CRMs), and field duplicates were added to the submitted sample sequence to test laboratory equipment calibrations. Standards selected are matched to the analytical method of photon assaying at ALS labs in Perth (~500g units). No composites were taken.

Based on statistical analysis of these results, there is no evidence to suggest the samples are not representative. | | Drilling techniques | -

The RC drill rig was a Schramm C685 Rig type with the capability to reach >400m depths with a rig-mounted cyclone/cone splitter using a face sample hammer bit of 5 1⁄2 - 6" size.

The booster was used to apply air to keep drill holes dry and reach deeper depths. | | Drill sample recovery | -

RC sample recovery is visually assessed and recorded where significantly reduced. Negligible sample loss has been recorded.

RC samples were visually checked for recovery, moisture and contamination. A cyclone and cone splitter were used to provide a uniform sample, and these were routinely cleaned.

RC Sample recoveries are generally high. No significant sample loss has been recorded. | | Logging | -

RC chip samples have been geologically logged on a per 1 metre process recording lithology, mineralisation, veining, alteration, and weathering.

Geological logging is considered appropriate for this style of deposit (metamorphosed orogenic gold). The entire length of all holes has been geologically logged.