Thesis Gold : & Benchmark Merger Presentation

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	Creating A LEADING
June 2023	PRECIOUS METALS PROJECT
TSX/V TAU	in British Columbia
OTCQX THSGF	Combining Thesis Gold
WKN A2QQ0Y	and Benchmark Metals

DISCLAIMER AND CAUTIONARY NOTES

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FORWARD-LOOKING STATEMENTS

This presentation contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements or information may relate to the proposed plan of arrangement (the "Arrangement") between Thesis Gold Inc. ("Thesis") and Benchmark Metals Inc. ("Benchmark") to form a combined company (the "Combined Company"), including statements with respect to the expected benefits of the Arrangement to the Combined Company, the Thesis securityholders and Benchmark shareholders, the anticipated dates of the mailing of the Thesis management information circular and the date of the shareholder meeting of Thesis, timing for closing of the Arrangement and receiving the required regulatory, Thesis securityholder and court approvals, stock exchange, including the TSX Venture Exchange (the "TSXV"), and other approvals, if at all, the ability of Thesis and Benchmark to successfully close the Arrangement on the timing and terms described herein, or at all, the filing of materials on SEDAR, the successful integration of Thesis into the business of Benchmark, the prospects of Benchmark's Lawyers Gold-Silver Project and Thesis' Ranch Gold Project, including mineral resources estimates and mineralization of each project, and any expectations with respect to defining mineral resources or mineral reserves on any of Benchmark's or Thesis' projects, the timing of and successful completion of the objectives of the Combined Company, all statements relating to anticipated benefits to be contained in Benchmark's preliminary economic assessment (the "PEA"), the anticipated makeup of the Combined Company Board and management, and any expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development or production.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding the Combined Company following completion of the Arrangement, that the anticipated benefits of the Arrangement will be realized, completion of the Arrangement, including receipt of required shareholder, regulatory, court and stock exchange approvals, the ability of Thesis and Benchmark to satisfy, in a timely manner, the other conditions to the closing of the Arrangement, other expectations and assumptions concerning the Arrangement, and that general business and economic conditions will not change in a material adverse manner. Although each of Benchmark and Thesis have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in each of Benchmark's and Thesis' most recent annual management's discussion and analyses which have been filed with the Canadian securities regulators and are available, respectively, on each Company's profile on SEDAR at www.sedar.com. Benchmark and Thesis do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Such statements represent the current views of Benchmark and Thesis with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Benchmark and Thesis, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of Benchmark and Thesis to complete the Arrangement, a material adverse change in the timing of any completion and the terms and conditions upon which the Arrangement is completed; inability to satisfy or waive all conditions to closing the Arrangement as set out in the Arrangement Agreement; Thesis securityholders not approving the Arrangement; the TSXV not providing approval to the Arrangement and all required matters related thereto; the inability of the consolidated entity to realize the benefits anticipated from the Arrangement and the timing to realize such benefits, including the exploration and drilling targets described herein and the completion of a resource estimate and updated PEA; the PEA or updated PEA not having the anticipated positive results; unanticipated changes in market price for Thesis shares and/

or Benchmark shares; changes to Benchmark's and/or Thesis' current and future business plans and the strategic alternatives available thereto; growth prospects and outlook of Benchmark's business, including commencing commercial production at the Lawyer's Project; treatment of the Arrangement under applicable competition laws and the Investment Canada Act; regulatory determinations and delays; any impacts of COVID-19 on the business of the consolidated entity and the ability to advance the Combined Company projects; stock market conditions generally; demand, supply and pricing for gold and silver; and general economic and political conditions in Canada and other jurisdictions where the applicable party conducts business.

MINERAL RESERVE AND RESOURCE ESTIMATES

Thesis and Benchmark are each a reporting issuer in Canada and are required to discuss mineralization estimates in accordance with Canadian reporting standards. The terms "proven mineral reserve" and "probable mineral reserve" used in this presentation are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards, which definitions have been adopted by Canadian National Instrument 43-101-- Standards of Disclosure for Mineral Projects ("NI 43- 101"). The definitions of proven and probable reserves used in NI 43-101 differ from the definitions in the United States Securities and Exchange Commission's Industry Guide 7. In the United States, a mineral reserve is defined as a part of a mineral deposit, which could be economically and legally extracted or produced at the time the reserve determination is made. Accordingly, information contained in this presentation containing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies under the United States federal securities laws and the rules and regulations thereunder. In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.

The scientific and technical information related to the geology and exploration in this presentation has been reviewed and approved by Michael Dufrusne, M.Sc., P.Geol., P.Geo., a registered Professional Geologist with the Association of Professional Engineers and Geoscientists of Alberta (#48439) and with the Association of Professional Engineers and Geoscientists of British Columbia (#37074) and a Qualified Person for the purposes of NI 43-101.

The reader is cautioned that any reference to mineral resources or geological technical information about Thesis' mineral properties is based on, excerpted from and expressly qualified by Thesis' current technical report (the "Technical Report") which was prepared in accordance with NI 43-101 entitled, "Amended Technical Report: NI 43-101 Technical Report, Geological Introduction to Chinapintza Mining Corp's Ranch Gold Project, Toodoggone Region, British Columbia, Canada", with an effective date of September 18, 2020 prepared for Thesis. Accordingly, Thesis recommends that the reader refer to and read the Technical Report in its entirety, a copy of which is available on SEDAR at www.sedar.com under Thesis' issuer profile.

The reader is cautioned that any reference to mineral resources or geological technical information about Benchmark's mineral properties is based on, excerpted from and expressly qualified by Benchmark's current technical report (the "PEA") which was prepared in accordance with NI 43-101 entitled, "Preliminary Economic Assessment, Lawyers Gold-Silver Project, Stikine Terrane, BC", with an effective date of September 9, 2022 prepared for Benchmark. Accordingly, Thesis recommends that the reader refer to and read the PEA in its entirety, a copy of which is available on SEDAR at www.sedar.com under Benchmark's issuer profile. The PEA is a preliminary economic assessment of Benchmark's Lawyers Gold-Silver Project and is preliminary in nature, as it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

The PEA sets out the basis for the preliminary economic assessment and any qualifications and assumptions made by the qualified persons responsible for the PEA. The most pertinent assumptions and qualifications, other than as noted above, are that the economic analysis in the PEA was based on a foreign exchange rate of USD$0.77 = $1.00 Canadian dollars and the base case prices of USD$1,735/oz Au and USD$21.75/oz Ag, as well as the following parameters: 46.7 Mt resource mined, 1.18 g/t Au grade, 22.71 g/t Ag grade, 1.41 g/t AuEq Head Grade, 275 Mt waste mined, 5.9 w:o strip ratio, 12 year LOM (please see PEA for further details). There is no pre-feasibility or feasibility study on the project yet.

The securities of the Corporation have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This website does not provide full

disclosure of all material facts relating to the Corporation. Readers should conduct their own analysis and review of the Corporation and of the information contained on this website and should contact their own professional advisors. For additional2 information, the readers are directed to the Corporation's current technical report and other corporate and financial disclosure filed under the respective profiles for Thesis and Benchmark on SEDAR at www.sedar.com.

ACCELERATING GROWTH IN BC'S NEXT MAJOR	&
MINING DISTRICT - THE TOODOGGONE
		N
District scale land package - 325 km2

Mining friendly and safe jurisdiction	TECK		Toodoggone District
One of the largest Gold-Silver Projects in	Schaft Creek
		NEWCREST	THESIS GOLD
Canada with significant growth potential	TECK/NEWMONT
	Red Chris
		Galore Creek	NEWMONT	BENCHMARK METALS
RANCH			Tatogga
				FREEPORT McMORAN/
PROJECT					CENTERRA GOLD
					AMARC RESOURCES
LAWYERS					Joy Property		Kemess Mine
PROJECT		SEABRIDGE GOLD	SKEENA
			NORTHWEST COPPER
		Bronson	Eskay	SEABRIDGE GOLD
				KSM		Lorraine
				NEWCREST
		ASCOT	Brucejack
		Premier	ASCOT
		BC		Red Mountain	CENTERRA GOLD
					Mount Milligan Mine
		Located in British
All season road,		Columbia's Prolific
up to 70t load		Toodoggone District
	Kemess
STURDEE AIRSTRIP
Mine				100 Km
10 Km
							3

TRANSACTION OPPORTUNITY

SCALE

Creates a larger scale precious metals development and exploration company in British Columbia

Links the ongoing development of Benchmark's Lawyers

Project to adjacent high-quality exploration results & targets on Thesis' Ranch Project

Enhances Benchmark's current 3.14 Moz AuEq*(M&I)

and 0.415 Moz AuEq* (inf) resource1,2 at Lawyers with high- grade, near-surface material at Ranch

Combined cash position of >$28M

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TEAM

Consolidates the strengths and capabilities of two prominent teams in the gold mining sector to achieve a shared objective of maximizing returns for investors through improved project economics and scale

Demonstrated success in various stages of mining operations, including exploration, permitting, mine development and production, arranging project financing, and navigating capital markets

		GROWTH				VISION

50,000m of resource expansion and exploration drilling planned in 2023

New combined Lawyers & Ranch resource estimate (Q1/Q2, 2024)

Updated PEA includes high-grade underground ounces at Lawyers and Ranch's maiden resource (Q3, 2024)

20+ drill-ready exploration targets

Deliver materially improved economics and scale for the combined projects

Over $40M in cost reductions over the next two years

Streamlined consultation and permitting process

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1 AuEq calculated on a 1:80 gold-to-silver ratio.

2 See NI 43-101 technical report titled: Preliminary Economic Assessment lawyers gold-silver project Stikine Terrane, BC. Dated December 22, 2022, with an effective date of September 9, 2022 available under Benchmark Metals SEDAR profile at www.sedar.com, filed on January 12, 2023.

TRANSACTION SUMMARY

PROPOSED TRANSACTION

Acquisition by Benchmark of all of the issued and outstanding securities of Thesis Gold

Court-approved plan of arrangement under the Business Corporations Act (British Columbia)

Combined company will change its name to "Thesis Gold Inc." and adopt the trading symbol "TAU"

CONDITIONS

Reconstitution of the board of directors: 3 from Thesis and 4 from Benchmark

Approval by at least 66 2/3% of the votes cast by Thesis Shareholders, Optionholders, and RSU holders voting together as a single class

No more than 5% of Thesis Gold Shares having exercised dissent rights with respect to the Transaction

Customary regulatory and court approvals

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CONSIDERATION & SHARE CONSOLIDATION

Thesis shareholders will receive 2.5584 of a common share of

Benchmark per Thesis Share

Existing shareholders of Benchmark and Thesis will own 60% and 40%, respectively of the resulting Issuer Shares on closing of the Transaction

The combined company will implement a 2.6:1 share consolidation of its common shares following the completion of the transaction

ANTICIPATED TIMING

Mailing of meeting materials in July 2023

Thesis shareholder meeting in August 2023

Closing expected in August 2023

OTHER TERMS

Customary non-solicitation covenants, subject to normal fiduciary outs

Unanimous support for the Transaction from Benchmark and Thesis Board of Directors and officers, including major shareholders of Thesis

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