Edmonton – April 29, 2019 – at the request of IIROC Benchmark Metals Inc. (the "Company" or "Benchmark") (TSX-V: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) – is providing clarification to the Company's April 26, 2019 news release that disclosed an exploration target on the Company's Lawyers Property. Specifically, the potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.
The expanded drill program will focus on infill, step-out and deeper drilling to expand the current resources at Cliff Creek and Dukes Ridge and establish new resources at the Phoenix and AGB zones. The program will include 30,000 metres of drilling, 2,000 to 3,500 soil samples, 600 to 1,000 rock samples, channel sampling, mapping, and ground geophysics.
Recent work has resulted in the definition of a new bulk tonnage exploration target that is based upon the review of more than 276 historic drillholes for a total of 36,240 meters, 133 historic trenches for a total of 7,062 linear meters and the new 2018 drilling of 38 drillholes for a total of 4,122 meters. The resulting bulk tonnage exploration target has been established for Cliff Creek, Dukes Ridge, Phoenix and AGB target areas with a range of 1.2 grams per tonne (g/t) gold equivalent* (AuEq) up to 1.9 g/t AuEq with a range in tonnes of 42 million tonnes up to 82 million tonnes for a range in AuEq ounces of 1.6 million ounces up to 5.0 million ounces. The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.
*Gold equivalent ounces are calculated using $US1,200/ounce gold and $US14.50/ounce silver.
The technical content of this news release has been reviewed and approved by Rob L'Heureux, M.Sc., P.Geol., a qualified person as defined by National Instrument 43-101.
About Benchmark Metals Inc.
Benchmark is a Canadian mineral exploration company with its common shares listed for trading on the TSX Venture Exchange in Canada, the OTCQB Venture 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.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "John Williamson"
John Williamson, Chief Executive Officer
For further information, please contact:
Jim Greig, President
Tel: (604) 260-6977
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.