BENCHMARK DRILLS 54.60 METRES OF 3.73 G/T GOLD EQUIVALENT, INCLUDING 9.60 METRES OF 19.39 G/T GOLD EQUIVALENT AT THE DUKES RIDGE DEPOSIT

Edmonton – June 2, 2022 – Benchmark Metals Inc. (the Company or Benchmark“) (TSX-V: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X)is pleased to announce new results from infill and expansion drilling at the Dukes Ridge Deposit, highlighted by 54.60 metres (m) core length of 2.51 grams per tonne (g/t) gold and 97.05 g/t silver or 3.73 g/t gold equivalent (AuEq)*, including 9.60 m of 13.39 g/t gold and 480.26 g/t silver or 19.39 g/t AuEq in drill hole 21DRDD016. The deepest holes drilled at Dukes Ridge to date have extended mineralization, which remains open, to nearly 300 metres vertical depth and >110 metres below the existing 2021 Mineral Resource Estimate (MRE) pit shell. These results continue to demonstrate strong similarities to typical mineralization at the Cliff Creek and AGB deposits, with broad bulk-tonnage style intercepts enveloping high-grade zones. The Dukes Ridge Deposit had until recently seen little drilling relative to the Cliff Creek and AGB deposit areas, and these latest results underscore the potential to add significant gold-silver ounces to the global resource at the Lawyers project as part of the imminent MRE update. 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, “We are very pleased with these latest results from Dukes Ridge as we continue to expand on areas of known mineralization outside of the 2021 MRE pit shell. We anticipate continued growth for the Dukes Ridge deposit, and for the other deposit areas at Lawyers, as additional drill results contribute to the upcoming mineral resource estimate update.”

Highlights

  • Plunging high-grade zones within large intervals of bulk-tonnage style mineralization are common at the Dukes Ridge Deposit area, including: 
    • 3.27 m of 33.65 g/t Au and 1,215.00 g/t Ag or 48.84 g/t AuEq within a broader interval grading 2.51 g/t Au and 97.05 g/t Ag or 3.73 g/t AuEq over 54.60 m in hole 21DRDD016. 
    • 5.00 m of 8.67 g/t Au and 162.82 g/t Ag or 10.70 g/t AuEq within a broader interval grading 2.01 g/t Au and 38.85 g/t Ag or 2.49 g/t AuEq over 40.16 m in hole 21DRDD012. 
    • 2.48 m of 10.30 g/t Au and 454.16 g/t Ag or 15.98 g/t AuEq within a broader interval grading 1.41 g/t Au and 43.20 g/t Ag or 1.95 g/t AuEq over 48.16 m in hole 22DRDD029. 
  • Drilling at Dukes Ridge continues to intersect strong mineralization below the 2021 MRE pit shell, with confirmed mineralization now in excess of 100 metres outside of the existing pit shell, and multiple high-grade zones remaining open at depth. 
  • The Company has intersected plunging high-grade zones at Dukes Ridge that are interpreted to be the result of previously unrecognized cross structures. Future drilling will target these zones and potentially add additional high-grade mineralization to subsequent resource estimates. 
  • Mineralization at the Dukes Ridge Deposit accounted for 109,000 AuEq Indicated ounces and 35,000 Inferred ounces in bulk tonnage zones in the 2021 Mineral Resource Estimate (May 14, 2021), including a significant portion at or near-surface

Benchmark anticipates recently completed drilling to positively impact the total ounces contained at Dukes Ridge in the imminent MRE update.

Figure 1: Plan map of Dukes Ridge Deposit area with drill collar locations, approximate mineralization shapes projected to surface, and the 2021 $1600 Au pit shell. 

Figure 2: Long section of the Dukes Ridge Deposit area with pierce points classified based on product of gold equivalent and interval length. 

Table 1: Drill results summary from the Dukes Ridge Zone

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

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

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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