Benz Announces A$150m Placement to Accelerate Delivery of Glenburgh Maiden Resource

Benz has received firm commitments to raise A$150 million via a targeted institutional placement driven by inbound interest from a select group of long-only, global specialist resources investors Placement proceeds will accelerate Benz's planned 450,000m Glenburgh drill program, adding 6 additional drill rigs to take the on-site fleet to 14 rigs operating across 20 shifts The 450,000m campaign represents one of the largest planned gold exploration drilling programs in Australia and, by scale, among the largest globally Expanded drilling fleet to rapidly advance the planned 450,000m campaign in preparation for Benz's maiden Mineral Resource Estimate, targeted for H1 2027 Vancouver, British Columbia--(Newsfile Corp. - August 23, 2026) - Benz Mining Corp. (ASX: BNZ) (TSXV: BZ) ( Benz or the Company ) is pleased to announce that it has received firm commitments for an institutional placement of 40.4 million new fully paid CHESS Depositary Interests ( New CDIs ) in the Company at an issue price of A$3.71 per CDI ( Issue Price ) to raise A$150 million (before costs) ( Placement ). The Placement was strongly supported by new and existing investors and was driven by inbound interest from a select group of long-only, global specialist resources investors. The significant demand received from these high-quality institutions demonstrates strong support for the Company's ongoing exploration strategy. Use of Funds Proceeds from the Placement will be applied as follows: To accelerate Benz's planned 450,000m drill program at Glenburgh through the addition of six drill rigs, increasing the on-site fleet to 14 rigs operating across 20 shifts. At 450,000m, the campaign is expected to rank among the largest gold exploration drilling programs underway in Australia and, by scale, among the largest globally. The expanded fleet will focus on rapid infill drilling to support preparation of Benz's maiden Mineral Resource Estimate, targeted for H1 2027, while continuing resource growth and extension drilling across the broader Glenburgh system; To advance geological modelling, assay analysis, interpretation and technical studies in parallel with the accelerated drilling program, enabling rapid conversion of drilling results into resource definition and supporting the commencement of feasibility studies into FY2027; To undertake field activities and permitting, including drill access preparation, heritage clearances, environmental approvals and associated field costs across the Company's project portfolio; and For working capital, including general corporate and administrative costs to support ongoing operations and exploration activities. Benz Chair, Mr Evan Cranston, commented: "We are advancing Glenburgh at a pace that very few gold projects in Australia can currently match. Our planned 450,000 metre drill program is one of the country's most aggressive gold exploration campaigns and, by scale, among the largest globally. This financing allows us to accelerate that program by adding six rigs, taking the fleet to 14 rigs on site operating across 20 shifts. "We are maintaining that momentum because systematic drilling is adding value to the project so quickly. With the expanded fleet, our immediate objective is to rapidly infill and build the geological confidence required to deliver Benz's maiden Mineral Resource Estimate in the first half of 2027. "The reason we are drilling at this intensity is simple: the more systematically we drill Glenburgh, the more compelling the scale of the opportunity becomes. This funding enables us to bring forward a huge amount of drilling, compress the exploration timeline and move Glenburgh rapidly towards a defined resource and, ultimately, development." Placement Details The Placement will be conducted at a price of A$3.71 per CDI, which represents a 0% discount to the last close price of A$3.71 on Friday, 21 August 2026.