(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - October 27, 2025) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) ( Benz or the Company ) is pleased to announce that it has acquired the remaining 25% interest held by Fury Gold Mines Limited (TSX: FURY) (NYSE American: FURY) ( Fury Gold ), indirectly through its wholly owned subsidiaries Eastmain Mines Inc. ( EMI ) and Eastmain Resources Inc. ( ESI, and together with EMI, Eastmain ), in the Eastmain Gold Project and the Ruby Hill East and Ruby Hill West properties (the Ruby Hill Properties ), located in the James Bay District, Québec.

Eastmain Gold Project

On October 27, 2025, the Company made the first milestone payment of C$1,000,000 (the First Milestone Payment ) to Fury Gold to acquire the remaining 25% interest (for a total 100% undivided interest) held by Eastmain in the Eastmain Gold Project. The First Milestone Payment, of which C$750,000 was paid in cash and the balance of C$250,000 by the issuance 171,142 common shares at a deemed issue price of C$1.46078 (the Payment Shares ) in the capital of the Company, was made in accordance with the terms of the option agreement (the Option Agreement ) dated August 7, 2019 between Benz and Eastmain, as amended by an agreement dated April 30, 2020 between Benz and Eastmain. The Payment Shares are subject to a four month and one day resale restriction, expiring on February 28, 2026, in accordance with Canadian securities laws. The issuance of the Payment Shares remains subject to the final approval of the TSX Venture Exchange.

Under the terms of the Option Agreement, the Company granted EMI a 2% net smelter return (NSR) royalty in respect of certain areas of the Eastmain Gold Project (the New NSR Royalty ). The Company may, at any time, purchase one half (1%) of the New NSR Royalty, thereby reducing it to a 1% NSR royalty, for a payment of C$1,500,000. In addition, the Eastmain Gold Project remains subject to pre-existing royalties (the Underlying NSR Royalties ), including: (i) a 2.3% NSR royalty granted pursuant to the agreement dated February 19, 2007 among the EMI, ESI, MVS Resources Inc. and Campbell Resources Inc. (the Franco/Osisko Royalty ); and (ii) a 2% NSR royalty that was granted pursuant to the agreement dated December 30, 1988 among Placer Dome Inc., MVS Resources Inc. and Northgate Exploration Limited. The combination of Underlying NSR Royalties and the New NSR Royalty cannot result in a royalty burden on the Eastmain Gold Project greater than a 2.5% NSR royalty burden, and to the extent that the New NSR Royalty results in greater than a 2.5% NSR royalty burden, the New NSR Royalty will be offset by the Underlying NSR Royalties. The New NSR Royalty will apply to certain areas after the first 250,000 oz of production from such areas, which are encumbered by the Franco/Osisko Royalty of up to 2.3% on the first 250,000 oz of production.

Ruby Hill Properties

On October 27, 2025, in accordance with the Option Agreement, Benz made the final cash payment of C$100,000 to Eastmain to acquire Eastmain's remaining 25% (for a total 100% undivided interest) interest in the Ruby Hill East Properties. Concurrently with the acquisition, the Company granted Eastmain a 1% NSR royalty (the Additional NSR Royalty ), of which one half (0.5%) may be purchased for C$500,000 thereby reducing it to a 0.5% NSR royalty.

The combination of any enforceable pre-existing royalties on the Ruby Hill Properties and the Additional NSR Royalty cannot result in a royalty burden on the Ruby Hill Properties greater than a 2.5% NSR royalty burden, and to the extent that any enforceable pre-existing royalties on the Ruby Hill Properties results in greater than a 2.5% NSR royalty burden on the Ruby Hill Properties, the Additional NSR Royalty will be offset to zero. If the Additional NSR Royalty is offset by any pre-existing royalties, the Company's NSR royalty buyback option will be adjusted on a pro rata basis.

The Option Agreement and the transactions completed thereunder are arm's length and there are no finder's fees payable. For additional information on the Option Agreement, please see Benz's previous news releases dated August 9, 2019, April 30, 2020 and October 26, 2023.

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

For more information please contact:

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