Benz Mining Corp. Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - July 16, 2020) - Benz Mining Corp. (TSXV: BZ) (the "Company" or "Benz") announces the following changes to its management team and to the Company's board of directors.

Mr. Ron Hall and Mr. Carlos Escribano have agreed to step down from the Company's board of directors, effective immediately. Mr. Escribano will continue to act as the Company's CFO, providing financial reporting and accounting services to Benz.

Mr. Miloje Vicentijevic has resigned from his role as President and CEO of the Company and will remain on the board as a non-executive director. Mr. Mathew O'Hara, a director of Benz, has agreed to act as the Interim CEO until the board makes a permanent appointment to the position.

Additional appointments to the board and management will be made in line with the Company's application to list on the Australian Stock Exchange and further details will be released shortly.

Nick Tintor, Chairman of the Board, commented, "On behalf of the board and our shareholders, I want to thank Miloje, the founder of Benz, for his leadership and support of the Company during the past eight years. Miloje kept this Company alive during a difficult period and led it to this transformative stage in its development with the acquisition of the high grade Eastmain gold mine project in Quebec."

Mr. Tintor added, "I would also like to thank Ron and Carlos for their tremendous contribution and support to the company over the past eight years. Carlos of course will continue to play a key role at Benz as our CFO."

About Benz Mining Corp.

Benz Mining Corp. brings together a veteran team of engineers, geophysicists, geologists, and finance professionals with a focused strategy to acquire and develop mineral projects with an emphasis on safe, low risk jurisdictions favorable to mining development. Benz is earning a 100% interest in the former producing high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects in Quebec.

On behalf of the Board of Directors of Benz Mining Corp.

Nick Tintor, Chairman of the Board

For more information please contact

Benz Mining Corp.
Telephone: 416.953.4244
Email: ntintor@benzmining.com

Forward-Looking Information: Certain statements contained in this news release may constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

NEITHER THE 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 ACCURACY OR ADEQUACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59957

info