STRONG POINTS

• The 2021 FLEM survey of loop G identifies several conductors located 2 km east of the historic resources of the Eastmain mine.
• Conductors currently being tested as part of the 2021 fully funded Benz 50,000m drill program.
• Visible gold observed in two holes in this area, separated by a 250 m collar.
• Zone E represents another new discovery in an area that has never been drilled before and is open in all directions.

Toronto, Ontario – (Newsfile Corp. – May 5, 2021) – Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (on Company or Benz ) is pleased to provide an update on the results of the 2021 geophysical survey carried out at loop G and the preliminary observations of recently drilled core in this area of ​​the Eastmain gold project, Quebec, Canada.

The fixed-loop electromagnetic (FLEM) survey completed in 2021 and located east of the Eastmain 2020 high-grade mine discoveries and Kotak trends returned EM responses significantly increasing the footprint of the Eastmain project. The second drill rig allowed the accelerated drilling of the new conductors. The drilling encountered visible gold in holes EM21-166 and EM21-167 establishing confidence in the continuity with hole EM20-142 which returned 5.4 m at 3.8 g / t of which 1 , 4 m at 7.2 g / t gold and 1 m at 4.4 g / t gold.

Figure 1: Eastmain property with newly acquired G FLEM loop and new conductors modeled in 2021

CEO Xavier Braud commented:

“ The exploration model that we started to apply successfully in 2020 is giving better results than expected. The new FLEM surveys in new areas generate new objectives. Thanks to the second platform, we can now test and set more of these goals this year. Identifying visible gold in sulphide-rich mineralization coinciding with these conductors bodes well for the future. The Eastmain project’s footprint continues to grow with each survey completed and additional drilling. Our aggressive 50,000m 2021 drilling campaign is designed to rapidly and dramatically expand the size of the entire system through the discovery of new high grade zones using electromagnetics as a direct targeting tool. So far, all drilling to date has returned the correct geology and style of mineralization. “

Kotak and Mine trends spread to the east

Loop G of the FLEM covers an area located to the east of the most easterly survey carried out in 2020. It identified EM anomalies that could prolong the trends of the Kotak and Eastmain mines by more than 500 m beyond what is currently known about these trends.

At the end of 2020, Zone E was first discovered by drilling EM20-142, a single hole in a newly identified FLEM conductor from a TDEM survey by Abitibi Geophysics conducted last July. EM20-142 returned 5.4 m at 3.8 g / t gold with gold associated with sulphide-rich mylonite with strong alteration of biotite and garnet.

Loop G also identified a powerful response conductor over 200m in length centered on hole EM20-142 using a Crone Deep EM TDEM system.

Figure 2: Simplified map with G-loop, newly defined conductors and location of drill holes EM21-166 and EM21-167

Additionally, the FLEM investigation identified 2 additional conductors in what appear to be along the direction of EM20-142. To date, 6 DDH have been drilled in the zone of Zone E.

Drill hole EM21-166 was designed to test a 100 m descent of intersected mineralization in EM20-142 and encountered mineralization in two distinct horizons, one as an extension of the sulphide-rich zone encountered in EM20-142 and a deeper associated with shear and altered albite. tonalite with veins of quartz, pyrrhotite, chalcopyrite and tourmaline where visible gold grains have been observed.

EM21-167 was designed to target the drivers identified in the Loop G TDEM survey. This hole intersected sulphide mineralization with quartz veins in an altered, sulphide-rich mylonite similar to that intersected in EM20-142. Visible gold grains were observed in quartz veins with pyrrhotite, pyrite, chalcopyrite and sphalerite.

An additional FLEM conductor has been identified about 1 km further east of Zone E. This small conductor is very encouraging as it is located near a historic borehole which returned 1.1m to 6, 3 g / t gold.

Samples from the current drill program are submitted for a combination of fire and screen fire testing to ACTLABS. The current test turnaround has been slow given the outbreak of the second and third waves of COVID-19 in Canada, combined with increased exploration in the province, with the current test turnaround exceeding 8 weeks.

Figure 3: Visible gold associated with a quartz-pyrrhotite-chalcopyrite and sphalerite vein in a mineralized and strongly altered mylonite -Hole EM21-167 (4 grains of 1 mm circle)

2020 borehole rejections shipped for PhotonAssay ^TM , in transit to Australia

All lab rejects (the fraction of samples unused in the testing process) from the 2020 drill campaign have been sent to Australia for analysis by PhotonAssay ^TM . This test technology is not yet available in North America. Shipping has been affected by the lockdown measures in place in Canada as well as by industrial action at the Port of Montreal. The samples are now on a ship and have been reserved within the lab’s schedule for analysis shortly after delivery, in an effort to compensate for current lab delays faced by exploration companies.

This press release has been prepared under the supervision and approved by Dr. Danielle Giovenazzo, P.Geo, acting as Benz Qualified Person under National Instrument 43-101.

About Benz Mining Corp.

Benz Mining Corp. brings together an experienced team of geoscientists and finance professionals with a targeted mining project acquisition and development strategy with an emphasis on safe, low-risk jurisdictions favorable to mining development. Benz owns a 100% interest in the former high-grade producing Eastmain gold mine, the Ruby Hill West and Ruby Hill East projects in Quebec.

The Eastmain gold project is located in the Upper Eastmain greenstone belt in Quebec, Canada, and currently hosts an NI 43-101 and JORC (2012) compliant resource of 376,000 ounces at 7.9 gpt d ‘gold. The existing gold mineralization is associated with 15-20% semi-massive to massive pyrrhotite, pyrite and chalcopyrite, making it susceptible to electromagnetic detection. Several occurrences of gold mineralization have been identified by previous explorers over a 10 km long zone along the lateral strike of the Eastmain mine with very limited testing outside the existing resource zone.

On behalf of the Board of Directors of Benz Mining Corp.
Xavier Braud, CEO

For more information please contact:

Paul fowler
Head of Business Development (Canada)
Benz Mining Corp.
Phone: +1 416 356 8165
E-mail: This e-mail address is protected from spam. You must enable JavaScript to view it.

Xavier Braud
CEO, Head of Business Development (Aus)
Benz Mining Corp.
Phone +61 8 6143 6702
E-mail: This e-mail address is protected from spam. You must enable JavaScript to view it.

Forward-looking information

Certain statements contained in this press release may constitute “forward-looking information” as that term is used in applicable Canadian securities laws. Forward-looking information is based on management’s plans, expectations and estimates on the date the information is provided and is subject to certain factors and assumptions, in particular that the financial position and development plans of the company will not change. not due to 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 differ materially from those projected in such forward-looking information. Factors that could cause forward-looking information contained in this press release to change or be inaccurate include, but are not limited to, the risk that any of the assumptions mentioned may prove to be invalid or reliable, that events such as that those mentioned above materialize and result in delays or cessation of planned work, that the financial situation and development plans of the company change, and delays in regulatory approval, as well as other applicable risks and uncertainties to the company as set out in the disclosure statements filed under the company profile at www.sedar.com . The Company assumes no obligation to update these forward-looking statements, except as required by applicable law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Declarations of the competent person

The information in this report which relates to exploration results is based on and faithfully represents information and supplemental information compiled by Mr. Xavier Braud, who is a fellow of the Australian Institute of Geoscientists (AIG membership number: 6963 ). Mr. Braud is a consultant to the Company and has sufficient experience in the style of mineralization and type of deposits under study and qualifies as a competent person within the meaning of the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. ”Mr. Braud owns securities of 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 information in this announcement that relates to the Inferred Mineral Resource was first reported under the JORC Code by the Company in its prospectus published to ASX on December 21, 2020. The Company confirms that it does not. Knowledge of any new information or data materially affects the information included in the initial market announcement and confirms that all important assumptions and technical parameters underlying the estimate continue to apply and have not changed. significantly. The Company confirms that the form and context in which the competent person’s conclusions are presented have not been significantly changed from the initial market announcement.

Table 1: Drill collar information

HOLE_ID	UTMx_East (m)	UTMy_North (m)	Elevation (m)	Total depth (m)	Azimuth (°)	Soak (°) *
EM21-166	701160	5797442	494	411	215	-60
EM21-167	701401	5797480	503	In progress	180	-70

* the trough down is negative

Annex 1: JORC tables

Section 1 Sampling techniques and data

(The criteria in this section apply to all subsequent sections.)

Section 2 Presentation of exploration results

(The criteria listed in the previous section also apply to this section.)