Benz Mining Corp. — Capital/Financing Update 2022

Dec 20, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

BENZ MINING CORP.

Date of this announcement

Wednesday December 21, 2022

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Options exercisable at CAD$0.63 expiring 21	1,400,000	21/12/2022
to be confirmed	December 2025

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

BENZ MINING CORP.

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ARBN

Registration number

642228804

1.3 ASX issuer code

BNZ

1.4 The announcement is

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New announcement

1.5 Date of this announcement

21/12/2022

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

As per Appendix 3B lodged on 6 September 2022

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities ASX +security code +Security description New class - code to be confirmed Options exercisable at CAD$0.63 expiring 21 December 2025 +Security type ISIN code Options Date the +securities the subject of this notification were issued 21/12/2022 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://www.asx.com.au/asxpdf/20221117/pdf/45hqmhcntdrccz.pdf

Options Details +Security currency Exercise price Expiry date CAD - Canadian Dollar CAD 0.63000000 21/12/2025 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option BNZAA : ORDINARY FULLY PAID

Any other information the entity wishes to provide about the +securities the subject of this notification Broker options as approved by shareholders on 14 December 2022

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

See Appendix 3B lodged on 6 September 2022

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Issue details

Number of +securities

1,400,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Nil

Purpose of the issue

To pay for services rendered

Additional Details

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
BNZ : CHESS DEPOSITARY INTERESTS 1:1	71,279,242
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted	on ASX)
	Total number of
ASX +security code and description	+securities on issue
BNZAJ : WARRANT EXPIRING 01-JUN-2023 EX CAD 0.17	12,285,455
BNZAA : ORDINARY FULLY PAID	57,435,068
BNZAB : OPTION EXPIRING 02-OCT-2023 EX CAD 0.64	3,900,000
BNZAC : OPTION EXPIRING 18-JAN-2025 EX CAD 3.00	9,713
BNZAD : OPTION EXPIRING 03-MAR-2025 EX CAD 0.076	70,000
BNZAE : OPTION EXPIRING 27-APR-2025 EX CAD 0.12	2,100,000
BNZAF : OPTION EXPIRING 01-JUN-2025 EX CAD 0.21	1,095,000
BNZAG : OPTION EXPIRING 31-AUG-2027 EX CAD 0.265	131,250
BNZAH : WARRANT EXPIRING 27-APR-2023 EX CAD 0.12	25,211,013
BNZAI : WARRANT EXPIRING 27-APR-2023 EX CAD 0.076	2,115,652
BNZAL : WARRANTS EXPIRING 30-AUG-2023 EX CAD 0.65	909,090
New class - code to be confirmed : Options exercisable at CAD$0.63 expiring 21 December	1,400,000
2025

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

14/12/2022

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