Eric Sprott Announces Holdings in Benchmark Metals Inc.

Toronto, Ontario--(Newsfile Corp. - May 26, 2021) - Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, disposed of 5,000,000 common shares of Benchmark Metals Inc., over the TSX Venture Exchange (representing approximately 3.2% of the outstanding common shares on a non-diluted basis) at a price of approximately $1.3002 per share for aggregate consideration of approximately $6,501,000.

Mr. Sprott now owns and controls 18,285,642 common shares and 11,642,821 common share purchase warrants representing approximately 11.6% of the outstanding common shares on a non-diluted basis and approximately 17.7% of the outstanding common shares on a partially-diluted basis. Prior to the disposition, Mr. Sprott beneficially owned and controlled 23,285,642 common shares and 11,642,821 common share purchase warrants (representing approximately, 14.8% on a non-diluted basis and approximately 20.7% on a partially diluted basis. The disposition combined with previous new share issuances by Benchmark Metals, resulted in an ownership change, on a partially diluted basis, of 2.8% since the last filing of an Early Warning Report.

The securities noted above are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Benchmark Metals is located at 10545-45 Avenue NW, 250 Southridge, Suite 300, Edmonton, Alberta, T6H 4M9. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com^[1] and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85404^[2]

References

1. ^{^} www.sedar.com (www.newsfilecorp.com)
2. ^{^} https://www.newsfilecorp.com/release/85404 (www.newsfilecorp.com)