Benz Announces Widespread Tungsten Mineralisation Across the Glenburgh Gold System

• The most recent release (May 18 2026) confirms widespread tungsten (scheelite‑ferberite) mineralisation coincident with high‑grade gold across the 12 km Glenburgh corridor.
• Notable gold intercepts include 79 m @ 4.4 g/t Au (hole 25GLR023), 25 m @ 10 g/t Au (hole 26HZ002) and 44 m @ 4.6 g/t Au (hole 25GLR070); internal tungsten intervals run up to 26 m @ 0.24% WO₃ and 33 m @ 0.1% WO₃.
• Mineralogy indicates coarse scheelite amenable to simple gravity recovery; metallurgical testwork has started.
• Drilling has been ramped to 12 RC shifts and a diamond rig mobilised for geotechnical/orebody studies.

Earlier news shows rapid progression: a series of high‑grade gold discoveries at Zone 126 and the Icon‑Tuxedo trends, culminating in a >250,000 m drill program for 2026, funded by a A$75 million bought deal (February 2026). The Mt Egerton project also yielded an ultra‑high‑grade hit (7 m @ 223 g/t Au).

• The tungsten announcement is positive but incremental—it confirms a by‑product that could enhance overall project economics, yet it is early stage (no resource, no recovery testwork completed).
• The gold intercepts reported alongside are impressive but are largely in line with the high‑grade pattern established by prior holes at Zone 126 and the Hurricane trend (e.g., 25 m @ 10.2 g/t Au in April 2026).
• The market had already priced a substantial exploration success: the stock rose from ~A$0.33 in May 2025 to a high of A$3.25 in February 2026 before settling around A$2.00–2.20. The latest news does not add a game‑changing dimension.
• No new financing, no resource upgrade, and no maiden resource inclusion for tungsten. Thus, the news does not re‑rate the stock materially beyond maintaining the exploration momentum.

Conclusion: Routine – Positive.

• Benz Mining Corp. controls 100% of the Glenburgh Gold Project in Western Australia, a granted mining lease with multi‑camp gold mineralisation (Hurricane, Icon, Thunderbolt).
• The project hosts a historical resource of 16.3 Mt @ 1.0 g/t Au (~510 koz) and a higher‑grade underground system at Zone 126. Drilling since mid‑2025 has repeatedly delivered thick, high‑grade intercepts.
• Secondary assets: Mt Egerton (also WA, ultra‑high‑grade discovery) and the Eastmain/Ruby Hill properties in Quebec (passive valuation).
• The company’s strategy is to grow a multi‑million‑ounce resource and advance towards a low‑cost, +100 koz pa production profile.