BENCHMARK DRILLS 13 METRES OF 23.72 G/T GOLD AND 212.84 G/T SILVER WITHIN A BROADER ZONE OF 101.60 METRES OF 4.68 G/T GOLD AND 89.89 G/T SILVER OR 5.80 G/T GOLD EQUIVALENT FROM SURFACE AT THE AGB DEPOSIT

Edmonton – February 11, 2022 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) – is pleased to announce new results from 3 multi-purpose drill holes at the AGB Deposit including 101.60 metres (m) of 4.68 grams per tonne (g/t) gold and 89.89 g/t silver or 5.80 g/t gold equivalent (AuEq*) with 13.00 m of 23.72 g/t gold and 212.84 g/t silver or 26.38 g/t AuEq in drill hole 21AGBDD040 (Figure 1). In addition to testing the near-surface continuity of mineralization, drill holes 21AGBDD054 and 21AGBDD055 were designed to evaluate the geotechnical properties of the rock mass as well as hydrogeological regime of the pit area. These cost-effective multi-purpose drill holes were successful in continuing to delineate high-grade continuity of near-surface mineralization at the southernmost extent of the AGB zone (Figure 2) while also providing the geotechnical and hydrogeological data necessary to design the overall pit slope for future engineering studies. Benchmark’s flagship Lawyers Gold-Silver Project is located within a road-accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.

John Williamson, CEO, commented, “The 2021 drill program has intersected near-surface high-grade mineralization within the pit shells modeled in 2021 and could potentially add significant resources in the near-term Mineral Resource update. As these results continue to expand the limits of the mineralization, further drilling in 2022 will continue to expand resource potential in all directions.”

Highlights

  • Robust mineralization near the southernmost extent of the AGB zone and south of historical mining including 37.50 m of 2.15 g/t gold and 46.76 g/t silver or 2.74 g/t AuEq with at-surface 2.50 m of 22.62 g/t gold and 120.26 g/t silver or 24.13 g/t AuEq in drill hole 21AGBDD054, and;
  • Potential for improved economics and reduced strip ratio by adding near-surface, open-pittable gold and silver ounces to the AGB Deposit, and;
  • Last of the drill results from AGB that will support the updated Mineral Resource Estimate (MRE), future drilling will go towards the Feasibility Study.

Multi-Purpose Geotechnical Drillholes

Over the 2021 drill program a total of (7) PQ and HQ sized geotechnical drill holes were drilled at the Cliffs Creek and AGB Deposits, totaling 2415 metres. In addition to testing for near-surface mineralization, with the potential to positively impact an updated MRE, these drill holes were conducted to collect data for slope analysis and pit slope design that will impact the overall size and shape of the future pit design. Work included in-situ permeability (packer) tests, geotechnical logging, down-hole televiewer mapping, sampling for geotechnical test work such as unconfined compressive strength, sampling for comminution test work, piezometer installation for groundwater baseline towards engineering design and environmental baseline. By executing this work with multi-purpose drilling and data collection the project is on pace to a construction decision.

Figure 1: Plan map at the AGB Zone highlighting new 2021 drill results.

Figure 2: Long-section at the AGB Zone showing gold and silver results from a series of drill holes.

Table 1: Drill results summary from the AGB Zone

Drillhole   From (m) To (m) Interval (m)* Au (g/t) Ag (g/t) AuEq (g/t)**
21AGBDD040   3.40 105.00 101.60 4.68 89.89 5.80
incl. 24.15 37.15 13.00 23.72 212.84 26.38
incl. 24.15 29.93 5.78 41.59 320.90 45.60
21AGBDD054 1.50 39.00 37.50 2.15 46.76 2.74
1.50 4.00 2.50 22.62 120.26 24.13
21AGBDD055   11.32 47.00 35.68 1.22 37.32 1.68
incl. 25.00 27.00 2.00 5.95 125.20 7.52

* Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.

** Intervals are core-length. True width is estimated between 80 to 90% of core length.

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L’Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over- limits being re-analyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

About Benchmark Metals

Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned Lawyer’s Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition to +20 new target areas along the 20 kilometre trend. The Company trades on the TSX Venture Exchange in Canada, the OTCQX Best Market in the United States, and the Tradegate Exchange in Europe. Benchmark is managed by proven resource sector professionals, who have a track record of advancing exploration projects from grassroots scenarios through to production.

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