Benchmark Granted New Work Permit to Advance Its Gold-Silver Project Along the Path to Mine Permitting
Edmonton, Alberta--(Newsfile Corp. - June 23, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark") - Benchmark is pleased to announce the Government of British Columbia has granted a new five (5) year Work Permit (Mines Act Permit Amendment) for exploration and drilling to advance the Lawyers Gold-Silver Project. The new Work Permit encompasses an expanded scope and scale to explore existing and new targets across the project area. Key components to the Work Permit include 620 drill-site locations and initial approval to reactivate the former mine road to provide improved access and efficiencies across the 145 km2 land package. The 5-year Work Permit is granted to June 15, 2026 for exploration activities covering all key target areas on the property. Benchmark's 100% owned, flagship Lawyers Gold-Silver Project is road accessible and located within the Golden Horseshoe area of north-central British Columbia, Canada.
John Williamson, CEO, commented, "The Permit allows the Project to expand the deposit areas, drill new high-priority targets and advance engineering towards a Feasibility Study. The new Work Permit involved consultation with all stakeholders including First Nations and submission of detailed exploration plans with environmental and mitigation measures through a Wildlife Mitigation and Monitoring Plan."
The scope and scale of the 5-year permit provides for the following activities:
- 620 drill sites for drilling at key areas including Cliff Creek, Dukes Ridge, AGB and new regional targets;
- Additional ground geophysical surveys across target areas;
- Former mining road reactivation (pending additional approvals);
- Expanded camp and related facilities, and;
- Expanded fuel storage.
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Quality Assurance and Control
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.
Stock Options Granted
The Company has granted 4,630,000 stock options at an exercise price of $1.15 to employees and consultants. The options shall expire and terminate on June 21, 2026, of which 2.5 million are for directors and officers of the company.
These stock options have been granted in accordance with the Company's Stock Option Plan. Pursuant to this plan, the Company is authorized to grant an aggregate of up to 10% of its issued and outstanding common shares on a rolling basis.
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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Benchmark is part of the Metals Group of companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "John Williamson"
John Williamson, Chief Executive Officer
For further information, please contact:
Telephone: +1 604 260 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.
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