Benchmark Warrants Fully Exercised As 100,000 Metre Drill Program Will Lead to Resource Expansion and Preliminary Economic Assessment

Edmonton, Alberta--(Newsfile Corp. - September 28, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark")  is pleased to report that 100% of the 10,473,163 share purchase warrants that were due to expire on September 23, 27, and October 7, 2021 have been fully exercised, providing $4,058,615 of working capital to the treasury, including Eric Sprott's exercise of 6,666,667 warrants for proceeds of $2,666,667. Mr. Sprott remains the largest single shareholder, controlling 14.8% of Benchmark's outstanding common shares (17.25 % on a partially diluted basis), and continues to support the Company's fast-tracked progression toward developing a significant gold-silver mine in Canada. Benchmark investors have consistently exercised 100% of the warrants issued in placements since the 2018 acquisition of its flagship Lawyers Gold-Silver Project, located within a road-accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.

John Williamson, CEO of Benchmark, commented, "Benchmark investors are being rewarded by significant share appreciation as we continue to deliver on our accelerated plans and promises. Eric Sprott has been a major investor and supporter of Benchmark since 2019, significantly increasing his ownership level with consistent participation in our placements and by exercising his warrants. Mr. Sprott's support provides significant strength as we work towards building Canada's next major gold-silver mine."

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.

www.metalsgroup.com

ON BEHALF OF THE BOARD OF DIRECTORS

s/ "John Williamson"
John Williamson, Chief Executive Officer

For further information, please contact:
Jim Greig
Email: jimg@BNCHmetals.com
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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