Benz Announces A$150m Placement to Accelerate Delivery of Glenburgh Maiden Resource

Benz Mining Corp. secured a targeted institutional placement of 40.4 million CDIs at A$3.71 per CDI, raising gross proceeds of A$150 million before costs. The placement carries a 0% discount to the closing price on August 21, 2026.

Proceeds are strictly earmarked to accelerate the Glenburgh drilling program by adding six drill rigs, bringing the total fleet to 14 rigs operating across 20 shifts. The capital is designated to execute a 450,000-meter drilling campaign aimed at delivering a maiden Mineral Resource Estimate (MRE) in the first half of 2027, with feasibility studies targeted for FY2027.

Advisors include Canaccord Genuity, Euroz Hartleys, and Shaw and Partners. Settlement is expected August 28, 2026, with trading commencing August 31, 2026.

Benz Mining Corp. (BZ) is executing a financing round that directly supports its previously announced exploration strategy, following the A$75 million raised in February 2026. This capital raise is expected and incremental to the company’s stated goal of reaching a maiden resource by the first half of 2027. The transaction involves a 0% discount, a detail that reflects institutional confidence in the project's geological model and management's execution capability, effectively validating the A$3.71 valuation.

While the capital raise is dilutive, it is necessary to fund the aggressive 450,000-meter campaign. This funding removes near-term financial risk and accelerates the timeline to resource definition. The news does not contain unexpected breakthroughs or M&A activity; it is a routine capital raise to fund an already publicized operational plan.

Benz Mining Corp. (BZ) is an exploration-stage gold company focused on its 100%-owned Glenburgh Gold Project in Western Australia's Gascoyne region. The project is divided into three distinct camps—Hurricane, Icon, and Thunderbolt—spanning an 18-20 km mineralized corridor. The company also holds the Mt Egerton and Eastmain projects in Western Australia and Quebec, respectively.

In June 2026, the company defined a maiden Exploration Target of 10.1–12.0 moz Au across ~485–540 Mt, with approximately 80% already drill-constrained. Metallurgical testwork has confirmed excellent gold recoveries (~95.5% for core material, ~89% for halo material) and rapid leach kinetics, supporting a conventional open-pit processing model. The project holds a granted Mining Lease with key environmental and native title approvals already secured.