Mr. Cole McClay reports

BENJAMIN HILL SIGNS NON-BINDING LETTER OF INTENT TO INCREASE INTEREST TO 40% IN AION MINING CORP.

Benjamin Hill Mining Corp. has entered into a non-binding letter of intent (LOI) with Aion Mining Corp. outlining the general terms and conditions of a proposed transaction whereby the company will acquire a further interest in Aion, to bring the company's total interest in Aion to 40 per cent.

Key points to the La Estrella coal project:

• The property contains eight known seams of metallurgical and thermal coal from recent and historical diamond drilling programs and surface exposures;
• The project is fully permitted under Colombian law, including environmental licensing;
• Pending updated National Instrument 43-101 by former SRK principal geologist responsible for 2012 historical report;
• Extensive site preparation and infrastructure upgrades currently under way.

The proposed transaction

It is anticipated that the aggregate purchase price for the proposed transaction will be $1,875,000, payable as follows:

• $500,000 in cash on closing; and
• $1,375,000 in common shares of the company at a price per share equal to the closing of the share price of the company on the closing date of the proposed transaction, subject to Canadian Securities Exchange policies.

Aion is a non-arm's-length party to the company by reason of sharing a common director, Cole McClay. The terms of the LOI were reviewed and approved by a committee of the company's independent directors.

Completion of the transaction is subject to customary conditions and any other conditions agreed to by the parties in a definitive share purchase agreement, including: receipt of all necessary approvals and consents on terms satisfactory to the parties, and completion of a due diligence investigation into Aion by the company and its representatives.

There are no assurance or guarantees that the proposed transaction will be completed, whether on the terms and conditions described above or at all. The company will provide further updates as they become available.

Options granted

The company also announces that, pursuant to a consulting agreement dated Jan. 22, 2024, the company has hired a consultant. The consultant will provide services to the company in exchange for 500,000 incentive stock options, each option allowing the holder to purchase one common share of the company at a price of 53 cents per common share.

About Benjamin Hill Mining Corp.

Benjamin Hill Mining is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 kilometres south of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in Yukon, Canada.

In addition, the company holds a 20-per-cent interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

We seek Safe Harbor.