Benjamin Hill Clarifies Aion Deal Closing Date

Rhea-AI Summary

Benjamin Hill Mining Corp (BNNHF) increases interest in Aion Mining Corp to 40% with LOI Extension Agreement, expected to close by April 15, 2024.

Vancouver, British Columbia--(Newsfile Corp. - April 9, 2024) - Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) (FSE: 5YZ0) ("BNN" or the "Company") wishes to offer clarification pursuant to the new release on April 9, 2024, updating the consideration to increase its interest in Aion Mining Corp ("Aion") to 40% (the "Proposed Transaction).

The LOI Extension Agreement, previously announced April 5, 2024, extends the exclusivity period between the Company and Aion in the LOI until April 15, 2024, and the transaction is expected to close within that time.

About Benjamin Hill Mining Corp.
Benjamin Hill Mining Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada.

In addition, the Company holds a 20% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

On behalf of the Board of Directors
"Cole McClay", CEO Benjamin Hill Mining Corp.
info@benjaminhillmining.com

Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204816

FAQ

What is the new interest percentage of Benjamin Hill Mining Corp (BNNHF) in Aion Mining Corp?

Benjamin Hill Mining Corp (BNNHF) is increasing its interest in Aion Mining Corp to 40%.

When is the expected closing date for the transaction between Benjamin Hill Mining Corp (BNNHF) and Aion Mining Corp?

The transaction between Benjamin Hill Mining Corp (BNNHF) and Aion Mining Corp is expected to close by April 15, 2024.

What was the purpose of the LOI Extension Agreement announced on April 5, 2024?

The LOI Extension Agreement extended the exclusivity period between Benjamin Hill Mining Corp (BNNHF) and Aion Mining Corp in the LOI until April 15, 2024.