Vancouver, British Columbia--(Newsfile Corp. - August 30, 2026) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (Benz or the Company) is pleased to advise that, further to its announcement dated August 23, 2026 in relation to the private placement for 40,431,267 new fully paid CHESS Depositary Interests (CDIs) in the Company at an issue price of A$3.71 (C$3.661) per CDI to raise A$150,000,000 (C$148,020,000) (before costs) (Placement), it has successfully completed the Placement. Each CDI represents one underlying common share in the Company on a one for one basis.

Proceeds from the Placement will be applied as follows:

• To accelerate Benz's planned 450,000m drill program at Glenburgh through the addition of six drill rigs, increasing the on-site fleet to 14 rigs operating across 20 shifts. At 450,000m, the campaign is expected to rank among the largest gold exploration drilling programs underway in Australia and, by scale, among the largest globally. The expanded fleet will focus on rapid infill drilling to support preparation of Benz's maiden Mineral Resource Estimate, targeted for H1 2027, while continuing resource growth and extension drilling across the broader Glenburgh system;

• To advance geological modelling, assay analysis, interpretation and technical studies in parallel with the accelerated drilling program, enabling rapid conversion of drilling results into resource definition and supporting the commencement of feasibility studies into FY2027;

• To undertake field activities and permitting, including drill access preparation, heritage clearances, environmental approvals and associated field costs across the Company's project portfolio; and

• For working capital, including general corporate and administrative costs to support ongoing operations and exploration activities.

Pursuant to the terms of a capital raising engagement letter (Capital Raising Engagement), dated as of August 22, 2026, between Canaccord Genuity (Australia) Limited (Canaccord), Euroz Hartleys Limited (Euroz) and the Company, Canaccord and Euroz acted as Joint Lead Managers to the Placement and provided certain capital raising services to the Company in respect thereof. In accordance with the terms of the Capital Raising Engagement, the Joint Lead Managers were paid a combined commission equal to 4% of the gross proceeds raised under the Placement, in the aggregate amount of A$6,000,000 (C$5,920,800) (plus GST) (Capital Raising Fee), of which they will pay a sum equal to A$300,000 (C$296,040) to Shaw and Partners for services rendered to the Company for the Placement.

The Placement remains subject to the final approval of the TSX Venture Exchange. The CDIs and underlying common shares issued in connection with the Placement are subject to a statutory hold period in Canada of four months and one day from the date of issuance.

Australian dollar amounts disclosed above were converted into Canadian dollars using the Bank of Canada's exchange rate posted on August 21, 2026 of A$1 = C$0.9868.

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

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.

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

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 Placement, including proposed completion, use of proceeds from the Placement, including but not limited to the drilling, exploration and development work contemplated thereby, as well as the completion of an initial Mineral Resource Estimate and subsequent technical reports, and planned exploration and related activities on the Glenburgh 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 results of exploration at the Glenburgh property will continue as anticipated , and all conditions precedent to completion of the Placement will be satisfied, in a timely manner; 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) 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 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.ca and 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.

Not an offer of securities

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

Not for release to US wire services or distribution in the United States

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