Benz Mining Corp (ASX:BNZ)

ALERT: Price-sensitive ASX Announcement for BNZ

Current share price for BNZ : $3.050 1.565 (105.39%)⁺

Announcement

Benz Acquires Final 25% Interest in Eastmain and Ruby Hill

Release

28 Oct 2025 8:00PM

Price at Release

$1.485

Full Release

Summary

On October 27, 2025, Benz Mining Corp announced the acquisition of the remaining 25% interest in the Eastmain Gold Project and the Ruby Hill Properties from Fury Gold Mines Limited, securing a full 100% undivided interest. This acquisition involved a milestone payment of C$1,000,000 to Fury Gold and the issuance of 171,142 common shares. Additionally, Benz granted EMI a 2% net smelter return royalty on the Eastmain Gold Project, with an option to purchase half of it to reduce the burden. The Ruby Hill acquisition also included a 1% net smelter return royalty to Eastmain, with a similar buyback option. These transactions were conducted under an arm’s length agreement with no finder’s fees, marking a strategic expansion for Benz in the gold exploration sector.

Key Points

Benz Mining Corp acquires remaining 25% interest in Eastmain Gold Project and Ruby Hill Properties.
Total acquisition cost included C$1,000,000 payment and issuance of 171,142 common shares.
A new 2% net smelter return royalty was granted on Eastmain Gold Project.
Ruby Hill acquisition included a 1% net smelter return royalty.
Both acquisitions allow for royalty buyback options to reduce financial burdens.
Transactions were conducted under an arm’s length agreement with no finder’s fees.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.