Benz Mining Corp. — Investor Presentation 2021

Feb 23, 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 and 11 February 2021. The Company z 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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EASTMAIN – QUEBEC’S FORGOTTEN GOLD DISTRICT

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An underexplored gold district in the heart of Quebec

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Over 220 km[2] of highly prospective tenure covering 45km strike of greenstone belt

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Discovered in 1970 via airborne electromagnetics surveys (EM)

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High grade gold mineralization identified over 10km with intercepts up to 13.2m at 53g/t gold

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Current resource: 376,000oz at 7.9g/t gold (Indicated: 236,500oz at 8.2g/t gold - Inferred: 139,300oz at 7.5g/t gold) Historical production (1994-5) at 10.5g/t gold with >95% recoveries via conventional processing

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New all weather road access since 2016

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Operational 50 person camp and associated mine infrastructure exists on site

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Mineralization associated with pyrrhotite makes EM a highly effective exploration tool, yet no ground EM has been carried out on the project since the 1980s

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Highly experienced Board and management team with strong geophysics background

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Cash balance of ~C$16m to fund the 50,000m drill and exploration programs

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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 Resource Analyst at Patersons Securities Limited (now part of Canaccord Genuity) and Exploration Manager of Longford Resources Limited (now New World Resources (ASX:NWC)) and Ram Resources Limited

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As Resource 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 Currently 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 98,838,756
Warrants (C$0.12 - C$1.00) 50,265,428 $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$0.94
$0.60 Z 600
Market Capitalisation C$92.9m
$0.40 400
Cash C$16m
$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: A WORLD CLASS MINING JURISDICTION

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Quebec – one of the largest gold producing regions in the world (+260 Moz gold)

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James Bay area quickly becoming one of the hottest places for exploration in Quebec with numerous new (2019) gold discoveries including:

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Azimut Exploration Elmer Gold Discovery 102m at 3.15g/t Au Kenorland Minerals / Sumitomo Frotet Discovery 29m at 8.5g/t Au Sirios Resources Aquilion Discovery 1.7m at 834g/t Au

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Flow Through Funding allows capital raising at up to 80% premium to market price limiting dilution to shareholders

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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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Upper Eastmain Greenstone Belt is an underexplored greenstone belt ~150km in length and up to 20km wide

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

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Eastmain Gold Project is in territory covered by Société du Plan Nord (SPN), mandated to facilitate investment into projects in its territory

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In 2016, SPN completed the construction of an all weather road (Route 167) allowing year round access to Eastmain property for first time

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Established infrastructure on site allows for all year exploration

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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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HISTORY OF THE EASTMAIN GOLD PROJECT

1994-95 - Mining

					1994-95 - Mining
					MSV Res Inc. mined 118,356 tonnes @ 10.58 g/t Au
1969-1970 - Discovery		1981/82			~ 40koz			2016
Acquired	by Placer for base metal exploration	Placer re-staked Eastmain Anomaly			Recoveries >95% via CIL			**All season road **	to property
Placer flew airborne EM Anomaly A9 was discovered in area devoid of		Max-min/VLF/Ground magnetics completed to identify A,B & C Zone targets			Trucked ore 300km via ice road to process Chibougamau		plant in	completed (Route 167 Nord) Prior to road completion access
outcrop Discovery hole in A-Zone 1.5m at 13.5 gpt Au in		Grid pattern drilling did not establish continuity of zones			Mine shut in March 95’ for 2.5 months due to winter ice road conditions			only by sea plane or helicopter or ice road in winter
quartz veins and semi/massive sulphides		DHEM trialed to detect sulphide zones at depth			Mining ceased indefinitely November 1995
(pyrrhotite)
Exploration halted as not economic
(low gold price)				1983/85
				DHEM trials confirmed geophysics could identify sulphide lenses at
1974				depth
				Sampling on 100-150m replaced standard 50m fences drilling
	Nordore optioned land as gold price increased
				Drilling based solely onborehole geophysics had 71% successrate
	Airborne EM surveys defined B Zone
				“The only means to rapidly develop tonnage and new lenses is to
	B Zone entirely under cover			stringently guide drilling programs with geophysics”1
	Only means of sampling via drilling from
				“Eastmain deposit is a rare example in gold exploration….
	geophysical interpretation			Geophysics is the major contributing factor to discovery and					2019-2020
	Unsuccessful attempts to drill zones resulted in waning of interest			development”1					Benz Mining Corp. Acquires Eastmain Gold Project
	Exploration works ceased and claims lapsed			Last time ground based EM surveys were done on Eastmain					New technical team appointed
				Property 1Placer Exploration Report 1984
						2007
							Eastmain Resources acquires Eastmain Property as
							secondary project
							Main focus was on	the 1.3Moz Eau Claire Deposit which
							they had been working since 2002

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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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Eastmain Mineralization Semi massive pyrrhotite

“Mineralized quartz veins and lenses show a variable thickness between 10 cm and 13 m, and sulphide contents average 15 to 20% in the mineralized quartz veins and sulphide lenses.”

“In order of decreasing abundance, sulphides consist of pyrrhotite , pyrite, and chalcopyrite, with minor sphalerite, magnetite and molybdenite. 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/Eamain-Mine-TechReport-for-Benz-Sep-3-2019-Final.pdf

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Strong conductivity Detectable by EM

“In order to solve the problem of defining prospective sulphide lenses, borehole geophysics was used. 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.”

“The use of borehole geophysics has allowed the progression of sampling to proceed at 100-150m intervals. This is a vast improvement over the 50m sampling interval used in geologic fences. Therefore the only means of rapidly developing tonnage and delineating new lenses is to stringently guide the drilling programs with geophysics.“

“Drilling to date which had been solely based on borehole geophysics has had a 71% success rate which is much higher than the project average.“

“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/GM41698.pdf

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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

Z 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) has been 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 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	Z 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) has been 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 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	Z 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) has been 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 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	Z 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) has been 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 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
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

Targeting for historical drilling outside of resource followed high grade (up to 125gpt) surface rock chips samples

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

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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FIRST STEP – FLEM HIGHLIGHTS MINE TREND AND IDENTIFIES KOTAK TREND

From one mineralized trend to two with multiple large EM targets

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9 targets with high grade drill intercepts

Multiple VTEM anomalies (flown 2005) – majority undrilled

Existing resource identified at A B C Zones 376,000oz at 7.9g/t Au

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110 line km fixed loop time domain electromagnetic (FLEM)

Numerous undrilled conductive plates outside existing resource

Largest conductive plates on a new trend parallel to mine series

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B E N Z M I N I N G C O R P 12
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SECOND STEP – DRILL CONDUCTORS

First drill holes into FLEM targets intersected targeted host rocks

THIRD STEP – DHEM

Down Hole EM (DHEM) refined targets

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EM20-132

• Largest FLEM conductor

• Newly discovered parallel trend

• Visible gold

• Quartz, pyrrhotite, chalcopyrite and tourmaline

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• 38 historical holes surveyed with DHEM

Numerous DHEM conductors for further rounds of drill-testing

All DHEM targets successfully intersect targeted host rocks with quartz veins and sulphides

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B E N Z M I N I N G C O R P 13
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JANUARY 2021 – EM IDENTIFIES THIRD CONDUCTIVE TREND – NISTO TREND

Reprocessed FLEM modelled plate confirmed by the last DHEM survey of 2020

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New trend is located 200m in the footwall of A Zone and D Zone

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New parallel conductive trend in the footwall of A Zone

Identified by both FLEM AND DHEM

Also confirmed in the footwall of D Zone

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Identified by FLEM and confirmed by DHEM Part of the 2021 drill campaign which started in January

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B E N Z M I N I N G C O R P 14
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FEBRUARY 2021 – HIGH GRADE ASSAYS CONFIRM MULTIPLE DISCOVERIES

Multiple +8g/t Au intervals - individual assays up to 85g/t Au

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All targets returned high-grade intervals Mineralization on all three trends found with electromagnetics

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Potentially stronger than anticipated nugget effect

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Poses the question of the current lower grade intervals within the existing resource

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B E N Z M I N I N G C O R P 15
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EM – PROVEN DIRECT DETECTION TOOL FOR GOLD AT EASTMAIN

Extensions to the existing resource and new high grade mineralized trends, all driven by electromagnetics

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Surface
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New high grade interval downplunge from A Zone Nisto trend discovery in the footwall of D Zone

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B E N Z M I N I N G C O R P 16
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ASSAYS VS VISIBLE GOLD – THE COARSE GOLD BLESSED CURSE

Fire assay technique used for most of the past drilling might be under-reporting true gold grades

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EM20-135 EM20-132
0.9m at 7.4g/t Au from 79.2m 3.0m at 13.7g/t Au from 531.8m EM20-137
1.5m at 2.8g/t Au from 519.5m
+30 gold grains observed
EM20-137
0.6m at 5.7g/t Au from 504.0m
5 gold grains observed
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Benz will re-assays mineralized intervals using a mix of screen fire assays and Chrysos’ PhotonAssay to quantify true grades

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B E N Z M I N I N G C O R P 17
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FAST TRACKING GROWTH THROUGH DISCOVERY

Three high-grade discoveries in 6 months of activity – fully funded high-impact 12 months campaign for 2021

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2020 2021
6 months of activity 12 months of exploration
Upcoming FLEM
Discovery of 2 new high-grade C$15,000,000 Budget
376,000oz at 7.9g/t Au
mineralized trends Underlined by multiple
Current Drilling and DHEM conductors
Multiple FLEM and DHEM
Conductors to be tested:
Discovery of one new high-
•
grade mineralized zone within Along strike
the Mine trend 2020 Success area
•
Down plunge
Upcoming
Current FLEM
FLEM
Validation of :
• 50,000m of drilling started in
The strategy
• January 2021
The exploration model
•
The potential for
+100 line-km of FLEM
accelerated growth
Secured $17m financing to Constant news-flow with
conduct 2021 exploration potential for district scale
campaign discoveries
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B E N Z M I N I N G C O R P 18
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Experienced specialist Management and Board Demonstrable success in similar geological environments New strategy Exploration focused, growing the Eastmain Project Proven new exploration techniques Identify potential for multiple parallel trends

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BenzMining.com | TSXV: BZ, ASX: BNZ

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Fully funded $15m fully funded exploration programs in 2021 Constant news flow for 2021 Potential for district scale discoveries