Benz Mining Corp. - New High-Grade LCT Pegmatite Discovered at Ruby Hill West, James Bay, Canada

Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the Company or Benz) is pleased to report the identification of a possible new lithium mineralised trend of over 25km on the Ruby Hill West in Quebec, Canada.

Mapping and prospection work in late May discovered the new Mikisiw area of outcrops and blocks of spodumene bearing LCT (lithium-cesium-tantalum) pegmatite.

Following the drilling of lithium bearing pegmatite outcrops at Ruby Hill West in April 2022 where maiden drilling intersected 26.4m at 1.01% Li2O, the Company identified a number of other pegmatite outcrops which were mapped and sampled in October 2022. Unfortunately, no other spodumene bearing pegmatite was observed at that time.

Dahrouge Geological Consulting were engaged to complete a review of the Company's geological database to identify and target new potential pegmatite zones that may contain lithium. The data review identified that the northern portion of the greenstone belt was the preferred target zone for LCT pegmatites.

Upon the commencement of the summer exploration programs, Benz geologists identified the Mikisiw outcrop a few days prior to the suspension of all work programs and evacuation of this area due to the well publicised bushfires that ceased exploration across all of the James Bay region.

Analysis of grab samples taken at Mikisiw have confirmed the presence of high-grade lithium with samples up to 5.57% Li2O .

The Mikisiw outcrop discovery is hugely significant as it has highlighted the potential for a 25km + long zone that has seen limited exploration with no prior exploration for lithium.

Benz's summer exploration program has re-commenced following an 8 week hiatus due to the bush fire restrictions with a mapping, trenching and soil sampling program concentrated in the area of the new discovery. Detailed mapping will be carried out over the newly discovered Mikisiw lithium prospect with a view for it to be drill ready in the next few months.

Benz Executive Chairman, Evan Cranston, said 'This is a substantial discovery on Benz's Eastmain Project that, in addition to hosting a high grade million ounce gold resource1, we have identified an emerging lithium story.

'Limited exploration has taken place on the Ruby Hill West tenements, with no focus on lithium exploration. Benz is the first company to actively target lithium on this ground and we now have 2 spodumene bearing pegmatite outcrops identified on a 25km trend in arguably one of the hottest jurisdictions for lithium exploration in the world.

'Our geologists are back on deck this week after an 8 week hiatus due to the bush fires, with the goal of peeling back the moss, and doing some trenching to expose the extent of the outcrop. We look forward to getting the drill rigs on this as soon as practicable and on any other targets we identify in this summer exploration program.'

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About Benz Mining Corp.

Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) brings together an experienced team of geoscientists and finance professionals with a focused strategy to unlock the immense mineral potential of the Upper Eastmain Greenstone Belt in Northern Quebec, which is prospective for gold, lithium, nickel, copper, and other high-value minerals. Benz is earning a 100% interest in the former producing high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects in Quebec and owns 100% of the Windy Mountain project.

At the Eastmain Gold Project, Benz has identified a combination of over 380 modelled in-hole and off-hole DHEM conductors over a strike length of 6km which is open in all directions (final interpretation of some of the conductors still pending).

In 2021, Benz confirmed the presence of visible spodumene in a pegmatite at the Ruby Hill West Project, indicating lithium mineralisation which Benz intends to further explore in 2022.

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