Highest gram metre intercept to date at Glenburgh Gold Project

HIGHLIGHTS:

• Lens 3 grows deeper and stronger with thickest high grade hit to date at Glenburgh
  • 79m at 4.4g/t gold from 534m

• Supported by recent third lens intercepts:¹
  • 44m at 4.6g/t gold from 475m
  • 20m at 2.6g/t gold from 507m
• Latest high grade intercept approximately 70m down dip from nearest intercept
• Depth extension untested: Lenses 1 to 4 all remain open at depth, highlighting significant opportunity to add further high grade ounces

• Performance share milestones set to align the business interests in growing value for all shareholders with performance share packages structured around resource growth
  • Milestone 1: Group Resource growth to 2 million ounces gold
  • Milestone 2: Group Resource growth to 4 million ounces gold
  • Milestone 3: Group Resource growth to 6 million ounces gold

• New drilling and logistics strategy implemented to expedite delivery of drilling results to market

Benz Mining Corp. (ASX: BNZ) (TSX-V: BZ) is pleased to report an additional discovery from ongoing drilling at the Zone 126 prospect within the Glenburgh Gold Project in Western Australia.

Figure 1. Long section view looking north of Zone 126 trend. Proposed drilling demarcated by crosses. Current release results in larger bold text. Previous results released on 6 November 2024, 3 April 2025, 28 April 2025, 30 June 2025, 31 July 2025, 20 August 2025, 11 September 2025 and 17 September 2025.

Benz CEO, Mark Lynch-Staunton, commented:

“Lens 3 just keeps getting better. The latest 79 metres at 4.4 grams per tonne gold is the thickest and one of the most exciting intercepts we’ve ever seen at Glenburgh – proof that this system is growing stronger and more extensive with every drill hole. Our structural model is working exactly as planned, consistently hitting thick, high-grade zones at depth.

“Every lens we’ve discovered so far remains open down-plunge, and we’ve only drilled a fraction of the 18km long Glenburgh corridor. The scale potential here is enormous – we’re looking at a multi-lens gold system with the kind of thickness and grade continuity that can build serious ounces fast.

“While assay turnaround times have been a factor in delivering results to market, we’re actively addressing this by implementing a dedicated logistics service from site to Perth to handle the increased volume of samples now being generated. At the same time, we’re ramping up drilling, with two of the rigs set to move to double-shift operations, effectively giving us the power of six rigs turning at Glenburgh as we push to accelerate discovery and growth.

“With this expanded program now in full swing, Benz is driving resource growth on multiple fronts – unlocking bulk-tonnage potential at Icon and expanding the high-grade core at Zone 126. We’re only scratching the surface of what this exceptional gold system can deliver.”

Glenburgh Drilling Strategy: A Structured and Cost-Effective Approach to Discovery and Growth

Benz has implemented a disciplined, phased drilling strategy at Glenburgh designed to rapidly define, extend, and convert high-grade gold mineralisation into resource ounces while maintaining one of the lowest discovery costs in the industry.

Phase 1 – Defining the Limits

The first stage focuses on defining the lateral and near-surface limits of mineralised lenses using RC drilling. This approach is fast, low-cost and guided by Benz’s robust structural and geological targeting model – a model that has already successfully delivered four new high-grade lenses across the Glenburgh system.

Phase 2 – Extensional Drilling at Depth

Once new lenses are identified, extensional drilling is undertaken to test their depth potential. Every lens discovered to date remains open at depth, and follow-up RC will systematically extend these zones down-plunge.

Phase 3 – Resource Definition and Growth

The third phase involves infill and resource definition drilling. Importantly, even at this stage Glenburgh retains strong growth potential, as its folded geological architecture concentrates gold within thickened hinge zones – areas that often continue to yield additional ounces beyond initial expectations.

Cost Advantage

Benz enjoys one of the lowest drilling cost bases in the industry, with RC drilling utilised wherever possible to rapidly generate results. This positions the Company at a significant advantage over peers who rely heavily on slower and more expensive diamond drilling methods. Importantly, Benz is not sacrificing structural understanding-every RC hole is scanned with a downhole televiewer, creating a comprehensive digital core library that underpins detailed structural interpretation and 3D modelling of the system.

Zone 126 – an evolving multi-lens gold system

Zone 126 continues to establish itself as one of the most exciting underground growth opportunities at the Glenburgh Gold Project. The latest step-out drilling confirms the extension of the third lens with one of the widest and highest gram metre intercepts delivered at the Glenburgh Gold Project to date.

This current intercept of 79m at 4.4g/t gold is approximately 70m below the nearest drilling intercepts including 47m at 1.9 g/t gold and 44m at 4.6 g/t gold. The lens is now currently over 350m in length and is completely open at depth.

Zone 126 is no longer a single high-grade shoot, but a multi-lens system extending over more than one kilometre in strike, with each lens open at depth and providing room for significant growth.

Drilling to date validates Benz’s exploration targeting model, built on systematic structural mapping before drilling, which has now successfully delivered three new lenses. Interpreted secondary shear zones transect the main mineralised horizon (see Figure 2 below), contributing to the formation of higher-grade gold lenses within a broader lower grade halo of gold up to 100m in width. This structural architecture controls gold enrichment within Zone 126 and provides high-conviction drilling targets further along the NE trend of mineralisation.

Figure 2. Plan view collar map for holes reported in this release. Lenses 1-3 represent discoveries where secondary shear zones transect the main mineralised horizon. Targets for Lenses 4 and 5 are defined at locations where mapped shear zones are interpreted to intersect the horizon in a similar manner.

Ongoing drilling targets and new strategy

Drilling is ongoing at Zone 126 with one RC drill rig following up and extending recent +40 gram metre results drilled by Benz in 2025 including:

• 44m at 4.6 g/t gold (25GLR 070)
• 47m at 1.9 g/t gold (25GLR 057)
• 11m at 19.9g/t gold (GBZ126 010)
• 39m at 5.1g/t gold (25GLR 022)
• 10m at 12.9g/t gold (25GLR 027)
• 10m at 6.1g/t gold (25GLR 033)
• 11m at 5.5 g/t gold (25GLR 039)
• 20m at 2.6 g/t gold (25GLR 035)
• 5m at 13.5 g/t gold (25GLR 037)

Benz is drilling additional holes into the newly discovered third and fourth lenses (see announcement dated 17 September 2025: 4^th High Grade Gold Lens Discovered at Zone 126) whilst also targeting the new fifth lens target with several assays pending. Drilling will continue to define and extend the existing lenses at depth.

Outside of the Zone 126 trend, two drill rigs continue to aggressively drill out the bulk tonnage potential of the Apollo Icon trend with a fourth rig on its way to scout out new exciting targets along the 18km Glenburgh Gold Corridor.

Management is also cognizant of capitalising on current market conditions for gold and maximising shareholder value and, as such, is always looking for ways to expedite the development of the Glenburgh Gold Project as rapidly as possible whilst maintaining strict safety standards.

In light of the current RC drilling conditions at Glenburgh where dry samples are attainable at depth up to 700m currently (some of the deepest RC holes drilled in Australia), Benz, in consultation with its drilling partners, Top Drill, have elected to move 2 of the 4 drill rigs to double shift. This will have the effect of increasing the effective drilling capacity to 6 rigs at Glenburgh. This will rapidly speed up the delivery of the resource development at Glenburgh.

Benz, with the assistance of Top Drill, is also establishing a dedicated transport solution for the delivery of the samples to the laboratories in Perth. Currently, sample delivery has been intermittent resulting in delays of assay result delivery to market. By establishing weekly deliveries, assay turn around times should become more regular. Further, laboratory turn around times are blowing out with the demand for sampling given the current gold market. Benz is currently assessing options to expedite sample turn around time and will keep the market informed of any developments in due course.

Performance Share Milestones Set to Align Key Management

To further align executive management and key personnel with shareholder interests, the Company has set performance share milestones designed to retain and reward high-performing individuals and foster a culture of value creation. The performance shares will directly link performance outcomes to resource growth milestones, ensuring alignment between management success and shareholder returns and will be issued under the Company’s Omnibus Equity Incentive Compensation Plan and in accordance with policies of the TSX Venture Exchange.

Performance shares will vest upon the achievement of the following key milestones:

• Milestone 1: Group Resource growth to 2 million ounces gold
• Milestone 2: Group Resource growth to 4 million ounces gold
• Milestone 3: Group Resource growth to 6 million ounces gold

This structured, milestone-based incentive framework underscores the Board’s commitment to recognising performance, retaining talent, and driving the continued growth of Benz’s high-grade gold assets in Western Australia and Canada.

Glenburgh – A New Frontier Gold District

The 100%-owned Glenburgh Gold Project is rapidly emerging as a new frontier gold district with multi-million-ounce potential. Located in Western Australia’s Gascoyne region, Glenburgh hosts an 18-20 kilometre mineralised corridor anchored by the large-scale Icon-Apollo trend and the high-grade Zone 126 system.

Glenburgh’s unique combination of thick, bulk-style gold mineralisation (Icon-Apollo) and multiple high-grade underground lenses (Zone 126) positions it as a rare opportunity in the Australian gold sector. With gold prices at record levels, the ability to develop both large-scale open pit and underground operations offers exceptional leverage and growth potential.

Figure 3. Geological overview of the Glenburgh Gold Project.

About Benz Mining Corp.

Benz Mining Corp.  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.

The Glenburgh Gold Project features a Historical (for the purposes of NI 43-101) Mineral Resource Estimate of 16.3Mt at 1.0 g/t Au (510,100 ounces of contained gold)². A technical report prepared under NI 43-101- Standards of Disclosure for Mineral Projects titled “NI 43-101 Technical Report on the Glenburgh – Egerton Gold Project, Western Australia” with an effective date of 16 December 2024 has been filed with the TSX Venture Exchange and is available under the Company’s profile at www.sedarplus.ca.

The Eastmain Gold Project in Quebec hosts a Mineral Resource Estimate dated effective May 24, 2023 and prepared in accordance with NI 43-101 and JORC (2012) of 1,005,000 ounces at 6.1g/t Au³, also available under the Company’s profile at www.sedarplus.ca, showcasing Benz’s focus on high-grade, high-margin assets in premier mining jurisdictions.

Qualified Person’s Statement (NI 43-101)

The disclosure of scientific or technical information in this news release is based on, and fairly represents, information compiled by Mr Mark Lynch-Staunton, who is a Qualified Person as defined by NI 43-101 and a Member of Australian Institute of Geoscientists (AIG) (Membership ID: 6918). Mr Lynch-Staunton has reviewed and approved the technical information in this news release. Mr Lynch-Staunton owns securities in Benz Mining Corp.

Appendix 1: Collar Table. Coordinates system: GDA94/MGA Zone 50

Appendix 2: Significant Intercepts Tables.

High Grade Intercepts: A nominal 4g/t Au lower cut off has been applied to results, with no maximum internal dilution applied unless otherwise stated.