Benz Confirms Multiple Thick High-Grade Hits Validate and Grow Large-Scale Icon Camp Target

2026-06-29

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

HIGHLIGHTS:

Latest Icon drilling continues to validate the modelled wireframes underpinning Benz's recently released Glenburgh Exploration Targetand advance the drill-supported target toward maiden Mineral Resource definition.

The Icon camp is a major component of the Glenburgh Exploration Target, contributing 63–69 Mt at 1.40–1.47 g/t Au for 2.8–3.3 Mozwithin the broader Glenburgh higher-grade domain Exploration Target of 110–125 Mt at 1.7–1.8 g/t Au for 6.1–7.3 Moz. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain whether further exploration will result in the estimation of a Mineral Resource. Full details are set out in the announcement dated 24 June 2026. Approximately 80% of the Exploration Target is already drill-defined, assay-supported and wireframed. The current systematic fence-line drilling at Icon continues to support the target wireframes, improve connectivity, add mineralised volume and define high-grade zonesas Benz advances toward maiden Mineral Resource definition.

27m at 15.33 g/t Au from 229m was returned from standout hole 26CN029, stepping out from Icon into the adjacent Apollo area and opening a new high-grade position along the Icon–Apollo trend.

Vancouver, British Columbia--(Newsfile Corp. - June 28, 2026) - Benz Mining Corp(ASX: BNZ) (TSXV: BZ)("Benz" or the "Company") is pleased to report ongoing results from its 2026 Icon drill program.

Drilling highlights include:

[](https://images.newsfilecorp.com/files/1818/303224_2637059154ff2a81_002full.jpg)

Figure 1:Drill section looking east across Icon, 20 m viewing window. Systematic infill drilling continues to support, connect and extend the modelled wireframes underpinning the Icon component of the Glenburgh Exploration Target as Benz advances toward maiden Mineral Resource definition. Previous drilling is shown as grey trace lines.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1818/303224_2637059154ff2a81_002full.jpg

Benz CEO Mark Lynch-Staunton commented:

"The more we drill at Icon, the more we find, and the more confidence we build. Every drill fence completed to date has supported the wireframes underpinning the Exploration Target - and in several areas has extended them - adding mineralised volume, improving continuity and growing high-grade zones within the broader Icon Camp.

"Icon remains firmly on track. The model is holding together, the high-grade zones are growing, and drilling continues to support the Exploration Target as we advance the drill-supported wireframes toward maiden Mineral Resource definition.

"Importantly, Icon is only one part of the Glenburgh story. It represents approximately one-third of the project footprint, with Hurricane and Thunderbolt camps providing major additional upside across the Mining Lease. We continue to drill aggressively at Hurricane and have now mobilised three rigs to Thunderbolt, accelerating the systematic drilling required to drive conversion of the broader Glenburgh Exploration Target toward maiden Mineral Resource definition."

Summary of Results and Interpretation

The latest Icon Camp results continue to support Benz's interpretation of Icon as a large gold system made up of broad mineralised zones with high-grade cores developed within them.

The drilling has delivered three important outcomes:

Validation of the modelled wireframes New holes continue to intersect mineralisation within the interpreted wireframes that underpin the Icon component of the Glenburgh Exploration Target. This supports the geological model and increases confidence in the continuity of the mineralised system.

Improved connectivity and added mineralised volume Systematic fence-line drilling is linking previously separate mineralised positions, improving continuity between lodes and adding mineralised volume within the broader Icon Camp. This is important for future Mineral Resource definition, as the current program is focused on tightening drill spacing and improving confidence in the model.

Growth of high-grade zones and extension toward Apollo Several holes have returned thick, high-grade intercepts, demonstrating that high-grade zones remain open and continue to develop within the broader mineralised system. The standout step-out in 26CN029 also opens a new high-grade position toward Apollo, supporting the potential for the Icon–Apollo trend to form a larger connected mineralised corridor.

Overall, the results show that the Icon model is holding together under systematic drilling. Each completed drill fence has supported the wireframes underpinning the Exploration Target, while also improving continuity, adding mineralised volume and defining high-grade zones. This provides increasing confidence as Benz advances the drill-supported Icon target toward maiden Mineral Resource definition.

Next Steps

Benz is now advancing Glenburgh on two fronts: accelerating systematic drilling across Icon, Hurricane and Thunderbolt, while also progressing the pre-development workstreams required to support future study work.

At Icon, drilling will continue to step through the camp on systematic fence lines to tighten spacing, confirm continuity and define high-grade zones. At Hurricane, aggressive drilling is continuing to validate and extend the second major camp. At Thunderbolt, three rigs have now been mobilised to accelerate testing of the third major camp on the Glenburgh Mining Lease.

In parallel, Benz is progressing metallurgical testwork, processing flowsheet evaluation, geotechnical, hydrogeology, environmental baseline, infrastructure and permitting-related work programs.

[](https://images.newsfilecorp.com/files/1818/303224_2637059154ff2a81_003full.jpg)

Figure 2: Collar Map holes in this announcement.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1818/303224_2637059154ff2a81_003full.jpg

Glenburgh Deposit Geology

The Glenburgh deposit geology is interpreted to comprise muddy pelitic sediments and mafic volcanic rocks metamorphosed to migmatites and amphibolites during the ca. 1990 Ma Glenburgh Orogeny. Within this package of rocks, an extensive sea floor or sub-sea floor alteration system is associated with gold mineralisation.

The core of the mineralised envelope at Glenburgh is defined by a folded sequence of metapelitic rocks interlayered with silica-rich grey chert bands, sulphide and oxide sedimentary iron formations, iron-rich grunerite bearing layers, and tungsten-rich and phosphate bands.

Recrystallisation of gold and other silicate minerals during granulite facies metamorphism is considered responsible for the exceptional metallurgical recoveries reported in the announcement dated 17 June 2026.

Glenburgh – A New Frontier Gold District

The 100%-owned Glenburgh Gold Project is rapidly emerging as a new frontier gold district with multi-million-ounce potential. Located in Western Australia's Gascoyne region, Glenburgh hosts an 18–20 kilometre mineralised corridor anchored by the large-scale Icon–Apollo trend and the high-grade Zone 126 system.

Glenburgh's unique combination of thick, bulk-style gold mineralisation (Icon-Apollo) and multiple high-grade underground lenses (Zone 126) positions it as a rare opportunity in the Australian gold sector. With gold prices at record levels, the ability to develop both large-scale open pit and underground operations offers exceptional leverage and growth potential.

[](https://images.newsfilecorp.com/files/1818/303224_2637059154ff2a81_004full.jpg)

Figure 3: Geological overview of the Glenburgh Gold Project.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1818/303224_2637059154ff2a81_004full.jpg

END -

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.

[](https://images.newsfilecorp.com/files/1818/303224_2637059154ff2a81_005full.jpg)

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1818/303224_2637059154ff2a81_005full.jpg

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

Qualified Person's Statement (NI 43-101)

The scientific and technical information in this announcement is based on, and fairly represents, information and supporting documentation compiled by Mr Mark Lynch-Staunton, a Member of the Australian Institute of Geoscientists (AIG) (Membership ID: 6918), and a Qualified Person as defined in NI 43-101. Mr Lynch-Staunton is the Chief Executive Officer Benz Mining Corp and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Lynch-Staunton consents to the inclusion in this news release of the matters based on this information in the form and context in which it appears. Mr Lynch-Staunton owns securities in Benz Mining Corp.

Forward-Looking Statements

This news release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). Forward-looking statements are based on the beliefs, expectations and opinions of management as at the date of this news release, are made as of the date of this news release, and involve known and unknown risks, uncertainties and other factors. Forward-looking statements in this news release include, but are not limited to, statements with respect to: (i) the nature, scope and results of the Company's exploration programs; (ii) the potential quantity and grade of the Company's exploration targets; (iii) the potential for delineation of a Mineral Resource from the Exploration Target; the timing and results of future drilling, metallurgical testwork and geological modelling; the Company's plans, objectives and expectations with respect to advancing its mineral properties; and the potential for future development of its mineral properties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" occur or be achieved. Forward-looking statements relating to exploration targets are inherently speculative in nature.

Forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to: (i) risks relating to the inherently uncertain nature of mineral exploration and development; (ii) uncertainty in the estimation of Mineral Resources and exploration targets; (iii) the possibility that future exploration results will not be consistent with expectations; (iv) commodity price fluctuations; (v) changes in general economic and market conditions; (vi) the Company's ability to obtain financing on acceptable terms; (vii) risks related to permitting, environmental regulation and community relations; (viii) operational risks in conducting exploration activities, including weather, equipment failure and access issues; and other risks disclosed in the Company's continuous disclosure filings available on SEDAR+.

Although the Company believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that these assumptions will prove to be correct, and actual results may differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements.

The Exploration Target is conceptual in nature; there has been insufficient exploration to estimate a Mineral Resource and it is uncertain whether further exploration will result in the estimation of a Mineral Resource. Accordingly, there can be no assurance that the Exploration Target will be realized or that future exploration will result in any Mineral Resources being identified. The Company does not undertake to update any forward-looking statement except as required by 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: DETAILED BREAKDOWN OF EXPLORATION TARGET

| GLENBURGH EXPLORATION TARGET – by deposit and grade domain | | | | | | | | | | Hurricane Camp | | | | | Basis | Tonnes (Mt) | Grade (g/t Au) | Contained Gold (Moz) | | High grade | | | | | Drill-constrained (data-driven) | 25 – 28 | 2.50 – 2.72 | 2.0 – 2.5 | | Conceptual projection | 6 – 7 | 2.50 – 2.72 | 0.5 – 0.6 | | Subtotal – high grade | 31 – 35 | 2.50 – 2.72 | 2.5 – 3.0 | | Mineralised halo | | | | | Drill-constrained (data-driven) | 166 – 184 | 0.37 – 0.39 | 2.0 – 2.3 | | Conceptual projection | 40 – 44 | 0.37 – 0.39 | 0.5 – 0.6 | | Subtotal – mineralised halo | 206 – 229 | 0.37 – 0.39 | 2.4 – 2.9 | | TOTAL – Hurricane | 235 – 265 | 0.65 – 0.70 | 5.0 – 5.9 | | | | | | | Icon | | | | | Basis | Tonnes (Mt) | Grade (g/t Au) | Contained Gold (Moz) | | High grade | | | | | Drill-constrained (data-driven) | 54 – 60 | 1.40 – 1.47 | 2.4 – 2.8 | | Conceptual projection | 8 – 9 | 1.40 – 1.47 | 0.35 – 0.41 | | Subtotal – high grade | 62 – 69 | 1.40 – 1.47 | 2.8 – 3.3 | | Mineralised halo | | | | | Drill-constrained (data-driven) | 125 – 139 | 0.28 – 0.29 | 1.1 – 1.3 | | Conceptual projection | 18 – 20 | 0.28 – 0.29 | 0.16 – 0.19 | | Subtotal – mineralised halo | 143 – 159 | 0.28 – 0.29 | 1.3 – 1.5 | | TOTAL – Icon | 205 – 230 | 0.62 – 0.65 | 4.1 – 4.7 | | | | | | | Thunderbolt | | | | | Basis | Tonnes (Mt) | Grade (g/t Au) | Contained Gold (Moz) | | High grade | | | | | Drill-constrained (data-driven) | 3.07 – 3.41 | 1.40 – 1.55 | 0.1 – 0.2 | | Conceptual projection | 16 – 17 | 1.40 – 1.55 | 0.7 – 0.9 | | Subtotal – high grade | 19 – 21 | 1.40 – 1.55 | 0.8 – 1.0 | | Mineralised halo | | | | | Drill-constrained (data-driven) | 4 – 5 | 0.28 – 0.31 | 0.04 – 0.05 | | Conceptual projection | 21 – 24 | 0.28 – 0.31 | 0.19 – 0.24 | | Subtotal – mineralised halo | 26 – 29 | 0.28 – 0.31 | 0.2 – 0.3 | | TOTAL – Thunderbolt | 45 – 50 | 0.75 – 0.83 | 1.1 – 1.3 | | | | | | | Glenburgh Exploration Target – reconciliation by camp | | | | | Basis | Tonnes (Mt) | Grade (g/t Au) | Contained Gold (Moz) | | Hurricane | 235 – 265 | 0.65 – 0.70 | 5.0 – 5.9 | | Icon | 205 – 230 | 0.62 – 0.65 | 4.1 – 4.7 | | Thunderbolt | 45 – 50 | 0.75 – 0.83 | 1.1 – 1.3 | | GLENBURGH EXPLORATION TARGET | 485 – 540 | 0.65 – 0.69 | 10.1 – 12.0 |

Appendix 2: 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).

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 & T685 rig type with the capability to reach >500m 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.

RC drill logging was completed by Benz Mining staff and data entered into BNZ's MXDeposit digital data collection platform provided by Expedio.

All drill chips were collected into 20 compartment-trays for future reference and stored securely at Glenburgh camp. | | Sub-sampling techniques and sample preparation | -

RC chips were cone split at the rig. Samples were generally dry.

A sample size of between 3 and 5 kg was collected. This size is considered appropriate, and representative of the material being sampled given the width and continuity of the intersections, and the grain size of the material being collected.

For the 1 metre samples, certified analytical standards (appropriate for photon assaying) and field duplicates were inserted at appropriate intervals at a rate equal to 1 in 20 and sent for analysis with the samples.

Sample preparation was undertaken at ALS Laboratory – Perth. Gold analysis utilised the photon assaying methodology where original samples are crushed to 90% better than -3mm with a sub-set 500g separated for non-destructive analysis.

Any sample reporting as having elevated > 1µSv readings during the preparation for photon assaying at ALS labs were flagged and were submitted for fire assay (Au-AA26) methodology at ALS labs in Perth as a quantifying check against the Photon assays. | | Quality of assay data and laboratory test | -

Earlier from Benz Mining Corp.

Benz Defines Maiden Gold Exploration Target at Glenburgh 2026-06-24
Benz Confirms Free Milling Gold with High Recoveries at Icon 2026-06-17
Benz Announces Widespread Tungsten Mineralisation Across the Glenburgh Gold System 2026-05-19

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