Champion Iron Limited press release

Benchmark Update on Feasibility Level Engineering Work

2021-09-16

TSX - Toronto Stock Exchange · Iron · Aluminium · Manganese · Copper · Zinc · Australia · Technical Studies

Edmonton, Alberta--(Newsfile Corp. - September 16, 2021) - Benchmark Metals Inc.(TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark") is pleased to provide an update for ongoing engineering and technical work to support a feasibility level design for the Lawyers Gold-Silver Project. The flagship project is located within a road accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.

Benchmark is currently drilling seven (7) PQ and HQ sized multipurpose holes in the Cliffs Creek Deposit and the AGB Deposit, totaling 2,415 metres for hydrogeological, geotechnical, resource, and metallurgical test-work. Work includes in-situ permeability (packer) test work, geotechnical logging, down-hole televiewer mapping, sampling for geotechnical test work such as unconfined compressive strength, sampling for comminution test work, piezometer installation for groundwater baseline towards engineering design and environmental baseline, and resource definition. The work is being led by a world-class team from Benchmark, APEX Geoscience Ltd, JDS Mining Inc., Knight Piesold Ltd (KP), F. Wright Consulting Inc, and DGI Geoscience Inc. This work is in parallel to additional feasibility level testing for detailed metallurgical modeling such as gravity recovery by FLSmidth (Knelson), bottle-roll leach recovery, bond index, liquid-solid separation, petrography, and detox by SGS (Lakewood) and Bureau Veritas (BV). All work is supporting the preliminary mine schedule and plant and infrastructure design based on the Mineral Resource Estimate (MRE) with an effective date at May 11, 2021.

Ian Harris, Vice President Engineering commented, "The Company is focused on completing all necessary engineering work to establish Canada's next gold-silver mine. Because there has been such a heavy focus on fast tracking to a construction decision and defined exploration windows the company has been steadfast in maintaining a detailed overall project schedule. Not only has this allowed us to maintain a fast-track pace but added to the cost effectiveness by executing multipurpose drilling and data collection. While logistically difficult in one of the busiest seasons ever in the Golden Horseshoe, the team has executed above expectations. The project continues to be on track for potential construction readiness in 2024."

[](https://orders.newsfilecorp.com/files/6169/96728_bf507a59244b58ee_001full.jpg)

Figure 1: High Level Project Development Schedule

To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/6169/96728_bf507a59244b58ee_001full.jpg

Quality Assurance and Control

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

About Benchmark Metals

Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned Lawyer's Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition to +20 new target areas along the 20 kilometre trend. The Company trades on the TSX Venture Exchange in Canada, the OTCQX Best Market in the United States, and the Tradegate Exchange in Europe. Benchmark is managed by proven resource sector professionals, who have a track record of advancing exploration projects from grassroots scenarios through to production.

www.metalsgroup.com

ON BEHALF OF THE BOARD OF DIRECTORS

s/ "John Williamson" John Williamson, Chief Executive Officer

For further information, please contact: Jim Greig Email: jimg@BNCHmetals.com Telephone: +1 604 260 6977

NEITHER 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 ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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