Benz Mining Corp. — Investor Presentation 2021

May 30, 2021

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EASTMAIN GOLD PROJECT QUEBEC, CANADA BENZMINING.COM | TSXV: BZ, ASX: BNZ FOLLOW US: @BENZMINING CORP

ELECTROMAGNETICS DRIVING GROWTH OF A HIGH-GRADE GOLD DISTRICT

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DISCLAIMER AND FORWARD LOOKING STATEMENTS

This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "Expect", "Anticipate", "Continue", "Estimate", "Objective", "Ongoing", "May", "Will", "Project", "Should", "Believe", "Plans", "Intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this presentation contains forward looking statements and information concerning the expected activities of Benz Mining Corp.

The forward-looking statements and information are based on certain key expectations and assumptions made by Benz Mining Corp. Although Benz Mining Corp. believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Benz Mining Corp. can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Benz Mining Corp. undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

The information in this announcement that relates to exploration results and the Mineral Resource was first reported under the JORC Code by the Company in its prospectus released to the ASX on 21 December 2020 and in its announcements dated 23 December 2020, 13 January 2021, 11 February 2021, 4 March 2021, 5 z May 2021 and 26 May 2021. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and confirms, in relation to the Mineral Resource, that all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

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

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B E N Z M I N I N G C O R P 01
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BENZ MINING – THE EASTMAIN DEPOSIT

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CURRENT HIGH GRADE RESOURCE

• Indicated: 236,500oz at 8.2g/t gold

• Inferred: 139,300oz at 7.5g/t gold

• Total: 376,000oz at 7.9g/t gold

• ~1.2km long x 400m maximum depth

EXPLORATION POTENTIAL

• Underexplored gold district in the heart of Quebec

• 220 km[2] of tenure

• 45km strike of Archean greenstone belt

• High grade gold spread over 10km strike with intercepts up to 13.2m at 53g/t gold

HISTORICAL PRODUCTION

• Historical production (1994-95) at 10.5g/t gold

• +95% recoveries via conventional processing

• Supplementary mill feed for process plant 320km away

NEW EXPLORATION STRATEGY

• Mineralization associated with pyrrhotite, discovered via airborne EM in the 1970’s.

• Ground EM (FLEM) followed by Downhole EM (DHEM) targets mineralised zones

• 6 new mineralised zones identified in 9 months

• 130DHEM plates modelled to date over 6km of strike

• 2021 drill campaign to identify the potential scale of the project

LOCATION & INFRASTRUCTURE

• New all weather road access since 2016

• Fully functional, 50-person camp

• Access to rigs, crews and services from Chibougamau

• Within Plan Nord territory opening access to public funding of major infrastructure

RECAPITALISED, NEW MANAGEMENT & BOARD

• New board and management with a track record of success in an analogous geological setting

• New ASX Listing

• $12m cash balance, and a fully funded 50,000m exploration program for 2021

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B E N Z M I N I N G C O R P 02
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BOARD OF DIRECTORS

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EVAN CRANSTON

Executive Chairman

B. Com., LLB from University of Western Australia, former corporate lawyer with over 15 years experience in the mining industry

• Principal of advisory services firm Konkera Corporate

Instrumental in several successful recapitalisations and asset transactions with ASX listed companies including Bellevue Gold project acquisition by Draig Resources, Century Mine acquisition by New Century Zinc, Honeymoon Uranium Project acquisition by Boss Resources, Vital Resources acquisition of REE developer Cheetah Resources

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PETER WILLIAMS

Director

• M.Eng.Sc in Geophysics from Colorado School of Mines, with over 30 years of global exploration experience and a track record of discoveries

• Former WMC Resources “Chief Geophysicist and Manager of Geoscience Technology”

• Co-Founder of Independence Group (now ASX 200 company), HiSeis, Intierra and Ampella Mining

• Lead dealmaker in creating the asset bases for Gryphon Minerals and Papillion Resources

• Currently Chairman of “Toward a Better Future Fund”, not for profit organization developing local entrepreneurship in Western Africa

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NICK TINTOR

Director

• BSc. in Geology from the University of Toronto with over 30 years of professional

• Z experience in the Canadian mining industry

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• Over 20 years of experience in all aspects of junior mining company management, from project generation to finance and execution

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• Brings deep global relationships in the Canadian resources investment banking sector

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• Former director or executive officer at Anaconda Mining, Moto Goldmines, Toachi Mining

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MATHEW O’HARA

Director

• B.Com. from University of Western Australia and Chartered Accountant (CA ANZ)

• Has been employed by, and acted as, independent director, company secretary and CFO of numerous resource companies with operations in Australia, Africa, Canada and US

• +13 years as Associate Director of an international accounting firm in both the corporate finance/advisory and audit divisions in Australia

• Extensive professional experience in capital markets, debt and equity financing, company management, financial accounting and corporate governance

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B E N Z M I N I N G C O R P 03
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HIGHLY EXPERIENCED MANAGEMENT TEAM

XAVIER BRAUD, MAIG CEO & Head of Corporate Development Australia

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M.Sc. in Geology from Universite Paris XI, Ecole Normale Superieure de Paris and Universite de Cergy-Pontoise, exploration geologist with 13 years field experience Previous roles include Resources Analyst at Patersons Securities Limited (now part of Canaccord Genuity) and Exploration Manager of Longford Resources Limited and Ram Resources Limited

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As Resources Analyst initiated coverage of Draig Resources in 2018 at A$ 0.18/sh. now Bellevue Gold (ASX:BGL)

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DANIELLE GIOVENAZZO, P.Geo

Vice-President - Exploration

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Ph.D. in Geology from Universite du Quebec a Chicoutimi with over 30 years global experience with an emphasis on Quebec and West Africa Previous roles include Specialist Geologist at Newmont Goldcorp, Director of Newgenco Exploration and Senior Geologist at Falconbridge and Xstrata Nickel Formerly President of the Order of Geologists in Quebec and External Administrator on SOQUEM board of directors

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Special Consultant

MARAT ABZALOV, FAUSIMM

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Ph.D. in Geology from Kola Science Center of the Russian Academy of Sciences with over 40 years of global geological experience Previous roles include Geology Manager at WMC Resources and Exploration Manager - New Opportunities at Rio Tinto and currently special consultant to BHP Nickel West

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Creator of the Localised Uniform Conditioning (LUC) resource modeling method and author of best selling book Applied Mining Geology published by Springer

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PAUL FOWLER Head of Corporate Development Canada

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Experienced Canadian capital markets professional who has been focused on the natural resource sector for 15 years

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Previously worked in Institutional Sales and Investment Banking for Merrill Lynch, Wellington West, National Bank Financial, Paradigm Capital, and Red Cloud Securities Strong knowledge of the global mining sector and an extensive network of mining executives

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B E N Z M I N I N G C O R P 04
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CORPORATE SUMMARY

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Symbol TSXV:BZ / ASX:BNZ BZ.TSXV YTD Share price and volume
$1.40 1400
Common Shares Outstanding 98,938,756
Warrants (C$0.12 - C$1.00) 50,165,428 $1.20 1200
Options (C$0.07 - C$3.00) 7,457,213 $1.00 1000
Top 20 Shareholders (%) ~50%
$0.80 800
Current Share Price C$0.75
$0.60 Z 600
Market Capitalisation C$74.2m
$0.40 400
Cash C$12m
$0.20 200
$0.00 0
Share Price
Volume (Thousands)
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B E N Z M I N I N G C O R P 05
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QUEBEC ONE OF THE WORLD’S BEST MINING JURISDICTION

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Quebec – over 260Moz gold produced Ranked 6[th] on 2020 Fraser Institute Mining Investment Attractiveness Index Outstanding infrastructure James Bay area hosts numerous recent high grade gold discoveries Flow Through Funding allows capital raising at up to 80% premium to market price limiting dilution to shareholders

Hydropower available regionally for environmentally responsible and cost effective energy needs

Cree First Nation supportive of mining (fully involved in the successful opening of Eleonore Mine)

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B E N Z M I N I N G C O R P 06
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UPPER EASTMAIN GREENSTONE BELT – THE NEXT FRONTIER

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Underexplored greenstone belt ~150km in length and up to 20km wide

316 km by road from Chibougamau, mining centre with workforce and process plants

Territory covered by Société du Plan Nord (SPN), a government initiative to fund development projects in Northern Quebec (comparable to NAIF in Australia)

In 2016, SPN completed the construction of an all weather road (Route 167 Nord) allowing yearround access to Eastmain property

Established infrastructure on site allows for all weather, year-round exploration

Granted industrial lease fast tracks potential production

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B E N Z M I N I N G C O R P 07
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EASTMAIN GOLD PROJECT - HISTORY 2019-20-21 – Benz Mining
Benz acquires Eastmain project
Historical drilling: 115,000m over 40 years New Board and technical team
Benz drilling: 50,000m over 12 months Eastmain as flagship project
First ground EM survey since 1984
2007 – Secondary Project
50,000m of drilling for 2021
Eastmain Resources acquires project
$2,000
Focus on 1.3Moz Eau Claire deposit
$1,800 2016 – Road Access 50,000
1994-95 – Mining
MSV Resources – Supplementary mill feed
1981-82 – Discovery C Zone
$1,600 118kt at 10.6g/t Au
Placer – Airborne EM target
Ore trucked 300km
Blind discovery
Recoveries >95% via CIL 40,000
$1,400 First DHEM trial
1974 – Discovery B Zone
$1,200 1983-85 – DHEM Extensions
Placer-Nordore – Airborne EM target
Placer - DHEM 2016 – 376koz at 7.9g/t Au 30,000
Blind discovery, 4 holes for 127m
71% success rate targeting with gepphysics
$1,000
Last time ground EM used at Eastmain
1969-1970 – Discovery A Zone
$800 Placer – Airborne EM target 1994 – 332koz at 11.9g/t Au
Discovery hole 1.5m at 13.5g/t Au 20,000
1987 – 74koz at 17.1g/t Au
$600
$400
10,000
$200
$0 0
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020
Gold Price
Meters drilled
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B E N Z M I N I N G C O R P 08
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THE THEORY – TARGETING HIGH GRADE GOLD WITH EM

A rare situation where electromagnetics can directly lead to high-grade gold

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“It soon became evident that borehole PEM could easily define the sulphide lenses at depth which was, but for a few exceptions, the ore zones. […] Therefore the only means of rapidly developing tonnage and delineating new lenses is to stringently guide the drilling programs with geophysics. […] The Eastmain deposit is a rare example in gold exploration. Geophysics usually plays a secondary role in gold camps but in this instance it is the major contributing factor to discovery and development.“

http://gq.mines.gouv.qc.ca/documents/examine/GM41698/GM41 698.pdf

Eastmain Mineralization: Semi massive pyrrhotite

Strong conductivity: Detectable by EM

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Eastmain Mineralization
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“ Sulphide contents average 15 to 20% in the mineralized quartz veins and sulphide lenses.[…] sulphides consist of pyrrhotite , pyrite, and chalcopyrite […]. Visible gold occurs in the mineralized quartz veins as small (<1 mm) grains associated with quartz and/or sulphides in the A, B and C Zones.“

http://benzmining.com/wp-content/uploads/2019/09/EamainMine-Tech-Report-for-Benz-Sep-3-2019-Final.pdf

Quartz Sulphide (Pyrrhotite) and Visible Gold

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B E N Z M I N I N G C O R P 09
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EASTMAIN DEPOSIT – WHAT WE IDENTIFIED

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Last ground EM programs conducted by Placer in 1980s Borehole PEM (DHEM) successfully targeted high grade lodes in A and B Zones Significant advances in EM technology since 1980s Recent drilling (last 20 years) solely based off geological analysis not geophysics Wide high grade lodes open at depth targeted via DHEM prior to drilling extensions minimising drilling costs Historically mined 118,000t of ore at 10.5gpt gold at >95% recovery

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CATEGORY	TONNES	GRADE (g/t Au)	GOLD (oz)
Indicated	899,000	8.19	236,500
Inferred	579,000	7.48	139,300
TOTAL	1,478,000	7.91	375,800

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B E N Z M I N I N G C O R P 10
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OVER 10KM OF SIGNIFICANT EXPLORATION POTENTIAL

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High grade drill intercepts spread over 10km of strike. Mineralization also present in multiple parallel geological contacts

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High grade rock chips quartz associated with pyrrhotite same as resource mineralization

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Targeting for historical drilling outside of resource followed high grade (up to 125g/t gold) surface rock chips samples

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No ground electromagnetic surveys completed on regional targets despite extensive VTEM anomalies

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B E N Z M I N I N G C O R P 11
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HOW TO TRIPLE THE FOOTPRINT OF A SYSTEM IN 9 MONTHS – STEP 1

WHERE IT ALL STARTED – JULY 2020

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540 holes drilled between 1970 and 2016

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No ground Electromagnetics since the 1980’s

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376,000oz Gold at 7.9g/t resource covering ~1.2km strike.

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10km of strike

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Numerous VTEM anomalies

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B E N Z M I N I N G C O R P 12
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HOW TO TRIPLE THE FOOTPRINT OF A SYSTEM IN 9 MONTHS – STEP 2

9 MONTHS LATER – MAY 2021

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150 line km of FLEM surveyed

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30 new FLEM and

130 new DHEM plates modelled

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11 holes drilled in

2020 – all returned

mineralisation - 9

returned high grade

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25 holes drilled in

2021 pending assays. 6 retuned visible gold at NW zone, A zone, and E Zone

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50,000m of drilling scouting for extensions to the whole system.

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B E N Z M I N I N G C O R P 13
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10KM OF EXPLORATION POTENTIAL – BEFORE EM

MULTIPLE OCCURRENCES SPREAD OUT OVER 10KM OF STRIKE – CONTINUITY DEFINED OVER 1.5KM AT A-B-C ZONES

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Finding extensions to a mineralised system implies following mineralised plunging shoots and establishing their continuity

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Current resource covers 1.5km of 10km strike and only goes to 400m vertical depth

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Having a geophysical method as direct detection tool increases significantly the hit rate in drilling

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B E N Z M I N I N G C O R P 14
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AFTER EM – FILLING THE GAPS AND TRACKING EXTENSIONS

6KM OF STRIKE PARTLY TESTED – MORE THAN 4KM TO BE TESTED – UNLOCKING THE DISTRICT SCALE POTENTIAL

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Electromagnetics help finding extensions to the known mineralisation as well as establishing continuity between mineralised zones

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130 DHEM modelled plates and counting (ongoing DHEM surveying of all holes being drilled) over more than 6km of cumulated strike

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50km of drilling to prove up the district scale of the Eastmain project, find more mineralised zones, fully size up the regional potential

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B E N Z M I N I N G C O R P 15
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FROM ONE MINERALISED TREND TO THREE

Multiplying endowment potential – 50,000m of drilling in 2021 to accelerate the discovery rate of new extensions to Eastmain

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2 new trends discovered above and below the Mine Horizon Identified by FLEM and confirmed by DHEM High grade results from 2020 drilling Multiple stacked mineralised horizons currently being drilled

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B E N Z M I N I N G C O R P 16
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FAST TRACKING GROWTH THROUGH DISCOVERY

Four high-grade discoveries in 9 months of activity – fully funded high-impact campaign for 2021

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9 months of activity Upcoming 2021 FLEM survey
Recently released successful
FLEM Survey results
2 new high-grade mineralized
trends discovered
Multiple mineralized zones
discovered
Fully funded C$15,000,000
Budget for 2021
Upcoming 2021
VTEM/MLEM survey
Validation of :
• The strategy
• The exploration model
• The potential for
accelerated growth
Over 50 FLEM and DHEM
Conductors to be tested:
• Along strike
• Down plunge
~40 holes drilled to date, all
Recently released results
extensional/exploratory with new EM conductors
systematically testing all and Visible Gold in core
growth opportunities
B E N Z M I N I N G C O R P 17
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BENZ MINING – INVESTMENT SUMMARY

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PROVEN HIGH GRADE GOLD DISTRICT

• Past producing mine with an existing resource & large surrounding land package

EXPERIENCED MANAGEMENT AND BOARD

• Demonstrable success in similar geological environments

FULLY FUNDED FOR 2021

• 50,000m of drilling, 200 line km of FLEM, ongoing DHEM

• Testing the >130 DHEM conductors identified and modelled to date

NEW EXPLORATION STRATEGY ALREADY YIELDING RESULTS

• Electromagnetic lead discovery strategy has identified the potential for several parallel trends, and multiple new zones within those trends

REGIONAL EXPLORATION POTENTIAL

• A proven yet underexplored gold district with the potential for regional scale discoveries

BenzMining.com | TSXV: BZ, ASX: BNZ

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B E N Z M I N I N G C O R P 18
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