Benz Announces Closing Tranche 2 of a $30M Financing

Benz Mining Corp. (TSXV: BZ,OTC:BENZF) (ASX: BNZ) (Benz or the Company) is pleased to announce that, further to its announcements dated August 12, 2025, August 20, 2025 and October 21, 2025 in relation to the private placement for 30,456,853 new fully paid CHESS Depositary Interests (CDIs) in the Company at an issue price of A$0.985 (C$0.8846) per CDI to raise approximately A$30,000,000 (C$26,943,000) (before costs) (Placement), it has completed the second tranche of the Placement, which was placed to Mr. Jolly, a Director of Benz (Tranche 2 Placement). As previously announced, the Tranche 2 Placement, which consists of 50,762 CDIs at a price of A$0.985 per CDI to raise an additional A$50,000 (C$44,905) (before costs), was approved by the shareholders of the Company at the annual general and special meeting held on December 16, 2025 (Perth, Western Australia time). The participation by Mr. Jolly in Tranche 2 Placement is considered a "related party transaction" as defined under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") of Canadian securities laws. The Tranche 2 Placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any CDIs issued to or the consideration paid by Mr. Jolly exceeds 25% of the Company's market capitalization.

Each CDI represents one underlying common share in the Company on a one for one basis. All 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 their respective date of issuance. There are no finder's fees payable in connection with the Tranche 2 Placement.

Australian dollar amounts disclosed above were converted into Canadian dollars using the Bank of Canada's exchange rate posted on August 12, 2025 of A$1 = C$0.8981.

The Placement remains subject to the final approval of the TSX Venture Exchange.

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

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About Benz Mining Corp.

Benz Mining Corp. (TSXV: BZ,OTC:BENZF) (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.

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.

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