Benz Mining : Lithium Pegmatite at Ruby Hill West

Toronto, Ontario - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the 'Company' or 'Benz') is pleased to provide an update on its activities at the Ruby Hill West Lithium Pegmatite project.

Benz's geologists confirmed the presence of outcropping and sub-outcropping LCT pegmatite at the Ruby Hill West project and collected multiple additional rock chips samples from the outcrop.

CEO of Benz Mining, Xavier Braud, commented:

'Since identifying the strong potential for lithium at Ruby Hill West through an analysis of historical results, we have been eager to go and check for ourselves. The historical results included 1.10% Li2O and 4.72% Li2O indicating strong potential warranting follow up. Rubidium values up to 3660ppm in one sample (0.9% Li, Cs and Ta>1000ppm) indicated strong potential for a valuable by-product.

'During the summer/fall field season, Benz managed to confirm the presence of the outcropping LCT pegmatite at Ruby Hill West. Like most of the region, the area is partly covered by vegetation and shallow glacial till and will require scraping and trenching, pending appropriate permits and favourable weather. Additional field work is planned before the end of October 2021.

'Several magnetic lows were observed in the detailed aeromagnetic survey of this area which could be related to other pegmatites and extend the known pegmatite occurrence. Our team at Eastmain will follow-up shortly.

'We will continue to execute our strategy of realizing the value for all of these opportunities through aggressive and well-structured exploration programs over all of our properties on the Upper Eastmain River greenstone belt.

'At Eastmain we are currently drilling D and E Zones and extensions to A and C zones following our successful methodology of using electromagnetics for targeting.

'Our 50,000m program is on track for completion by December and we are looking forward to updating the market on assay results from this drilling as soon as we receive them. We are still facing extremely long delays from the laboratory, especially for metallic screens fire assays - used for core showing strong visual mineralisation.'

Ruby Hill West Lithium Pegmatite occurrence

Spodumene bearing pegmatite occurrence at Ruby Hill West was sampled historically and recorded results from Eastmain Resources (2019 report of work), including:

4.72% Li2O, 1720 ppm Rb (>100ppm Ta, >500ppm Cs)

2.15% Li2O, 990 ppm Rb (>100ppm Ta, >500ppm Cs)

1.97% Li2O, 3660 ppm Rb (>100ppm Ta, >500ppm Cs)

1.10% Li2O, 710 ppm Rb (>100ppm Ta, >500ppm Cs)

At the time, samples had not been re-analysed for tantalum and caesium, which both reported values above the assay method's detection limit.

In addition, a rock saw sample was taken by government geologists in 2018 and is reported in the SIGEOM as sample 20180072998 with the following results: 2.59% Li2O, 1970ppm Rb, 1030 ppm Ta and 7530 ppm Cs.

Benz is also interested in the very high rubidium values present at Ruby Hill West from recent reports, it appears that Rubidium values above 1000ppm can be considered significant.

At Ruby Hill West, historical rock chip samples reported both high lithium and rubidium values; the lithium bearing mineral is spodumene, a recognised economic source of lithium.

Pegmatite Magnetic Signature

Analysis of the detailed aeromagnetic survey conducted by Eastmain Resources over this area shown that the Ruby Hill West LCT pegmatite fall into a magnetic low. In addition, multiple magnetic lows may extend the known pegmatite occurrence. Those zones represent direct targets for pegmatites which usually have low magnetic signatures.

Exploration trenching

Benz deems relevant to display an example of this exploration technique for its Australian audience who is not necessarily familiar with exploration methods in areas with glacial till cover. It is possible to remove thin overburden using high pressure water and hand tools. The area uncovered can then be trench sampled. This methodology needs minimal equipment and can be conducted during helicopter supported campaigns for early exploration work in remote areas.

Eastmain Gold Deposit

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 376,000oz at 7.9gpt gold (Indicated: 236,500oz at 8.2gtp gold, Inferred: 139,300oz at 7.5gtp gold). The existing gold mineralization 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 10km long zone along strike from the Eastmain Mine with very limited but highly encouraging testing outside the existing resource area.

This press release was prepared under supervision and approved by Dr. Danielle Giovenazzo, P.Geo, acting as Benz's qualified person under National Instrument 43-101.

Unless otherwise specified, all of the intervals reported are in core length. Although our core angles are good, it is not possible to give accurate true thickness for these intercepts at the moment.

Analytical samples were taken by sawing NQ core in half at the exploration site and sending them to Actlabs in Ste Germaine de Boule, Qc for preparation and gold analysis then to Ancaster, Ont for multielement analysis. All core assays reported were obtained by standard 30 or 50-gram fire-assaying-AA finish (codes 1A2B30 /1A2B50) and gravimetric finish (code 1A3-50) for samples with > 10gr/t Au. Samples are also analyzed for multi-elements, using a four-acid digestion -ICPMS method (code UT-4M).

Because of the presence of visible gold, BENZ will be using a 1000gr metal sieve (code1A4-1000) for mineralised samples in the future.

Quality Assurance/Quality Control ('QA/QC') and interpretation of results is performed by qualified persons. A QA/QC program consistent with NI 43-101 and industry best practice has been implemented with internal certified OREAS standards and blanks inserted at every 20 samples by the corporation.

About Benz Mining Corp.

Benz Mining Corp. brings together an experienced team of geoscientists and finance professionals with a focused strategy to acquire and develop mineral projects with an emphasis on safe, low risk jurisdictions favourable to mining development. 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.

The Eastmain Gold Project is situated within the Upper Eastmain Greenstone Belt in Quebec, Canada and currently hosts a NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9gpt gold. The existing gold mineralization is associated with 15-20% semi-massive to massive pyrrhotite, pyrite and chalcopyrite making it amenable to detection by electromagnetics. Several gold mineralization occurrences have been identified by previous explorers over a 10km long zone along strike from the Eastmain Mine with very limited testing outside the existing resource area.

Contact:

Paul Fowler

Head of Corporate Development

Canada

Benz Mining Corp.

Telephone: [phone]

Email: [e-mail]

Xavier Braud

CEO

Head of Corporate Development (Aus)

Benz Mining Corp.

Telephone [phone]

Email: [e-mail]

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 as a result 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.sedar.com. 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.

Competent Person's Statements: The information in this report that relates to Exploration Results, including results previously released to the market on 26 August 2021, is based on and fairly represents information and supporting information compiled by Mr Xavier Braud, who is a member of the Australian Institute of Geoscientists (AIG membership ID:6963). Mr Braud is a consultant to the Company and has sufficient experience in the style of mineralization and type of deposits under consideration and qualifies as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Braud holds securities in Benz Mining Corp and consents to the inclusion of all technical statements based on his information in the form and context in which they appear. The Company confirms that there have been no material changes to the information previously released to the market.

The information in this announcement that relates to the Inferred Mineral Resource was first reported under the JORC Code by the Company in its prospectus released to the ASX on 21 December 2020. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and confirms that all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

(C) 2021 Electronic News Publishing, source ENP Newswire