Mr. Mark Lynch-Staunton reports

BENZ ANNOUNCES CLOSING TRANCHE 1 OF A$13.5M FINANCING

Further to the announcement dated April 15, 2025, in relation to the private placement for 33,750,750 new fully paid CHESS depositary interests in Benz Mining Corp. at an issue price of 40 Australian cents (35.452 Canadian cents) per CDI to raise $13,500,300 (Australian) ($11,965,315.89 (Canadian)) (before costs), Benz Mining has completed tranche 1 of the placement. Each CDI represents one underlying common share in the company on a one-for-one basis.

Tranche 1 of the placement consisted of 28,722,000 CDIs at a price of 40 Australian cents per CDI to raise $11,488,800 (Australian) ($10,182,523.44 (Canadian)) (before costs). Tranche 2 of the placement, which will be placed to Spartan Resources Ltd., subject to shareholder approval to be sought at a general meeting of the company's shareholders in due course, consists of an additional 5,028,750 CDIs at a price of 40 Australian cents per CDI to raise an additional $2,011,500 (Australian) ($1,782,792.45 (Canadian)) (before costs).

Net proceeds from the placement will be primarily used to accelerate exploration activities at Benz's 100-per-cent-owned Glenburgh gold project, including follow-up reverse circulation and diamond drilling programs to test high-grade extensions at Zone 126 and other high-priority targets, geological modelling, and associated fieldwork, as well as for the commencement of exploration activities at the Egerton gold project, including targeting high-grade near-surface mineralization with RC drilling, mapping and geochemical surveys to refine future drill programs. Additionally, a portion of the proceeds will also be used to undertake a scoping study at the Eastmain gold mine in Quebec and for general working capital purposes.

Euroz Hartleys Ltd. acted as lead manager, Tamesis Partners LLP acted as co-manager to the placement and they were paid a commission in relation to the tranche 1 placement in the amount of $689,328 (Australian) ($610,952 (Canadian)) (plus GST). The placement remains subject to the final approval of the TSX Venture Exchange. The securities issued in connection with the tranche 1 placement are subject to a statutory hold period in Canada of four months and one day.

Australian-dollar amounts disclosed above were converted into Canadian dollars using the Bank of Canada's exchange rate posted on April 15, 2025, of $1 (Australian) equals 88.63 Canadian cents.

About Benz Mining Corp.

Benz Mining is a pure play gold exploration company dual listed on the TSX Venture Exchange and the Australian Securities Exchange. The company owns the Eastmain gold project in Quebec, and the recently acquired Glenburgh and Mount 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 expand 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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