Benchmark Drills 41.94 Metres of 2.82 g/t Gold Equivalent and Expands Mineralization at the AGB Zone

Edmonton - October 20, 2020 – Benchmark Metals Inc. (the "Company" or "Benchmark") (TSX-V: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) - is pleased to announce new results from a series of drill holes at the AGB zone where broad zones of mineralization yielded up to 41.94 metres (m) of 1.49 grams per tonne (g/t) gold and 106.84 g/t silver or 2.82 g/t gold equivalent* (AuEq) in addition to high-grade intervals of 3.80 m of 11.76 g/t gold and 630.61 g/t silver or 19.64 g/t AuEq. Current drilling at the AGB Zone has expanded gold-silver mineralization to the west and shows continuity over a +600 metre strike length. Benchmark’s flagship gold-silver project is located in a road accessible area of the Golden Horseshoe in north-central British Columbia, Canada.

AGB Highlights

-          Drilling continues to intersect strong zones of mineralization along the entire 600 metre strike extent of the AGB zone with these new results highlighting the significant resource building potential of this zone in addition to Cliffs Creek and Dukes Ridge.

-          New results from the AGB zone include broad bulk-tonnage zones, higher-grade bulk tonnage zones and high-grade zones Table 1, full drill results are included in Table 2.

Table #1: Summary of the various styles of mineralized intercepts

*Gold equivalent (AuEq) calculated using 80:1 gold to silver ratio.

-          These new results are extending strong, broad zones of mineralization from surface to >270 m vertical depth and continue to validate our drill targeting.

-          Significant step out drilling targeting the extension of the AGB west zone, >170 metres south of the historic underground workings has intersected broad bulk tonnage mineralization with higher grade zones and appears to be increasing in grade at depth, see Image #2.

-          To date in 2020 61 holes and 11,863 metres have been completed at AGB and property wide Benchmark has surpassed 66,000 m from 319 holes.

-          Disclosure of additional results will continue through to January 2021 in support of a new Mineral Resource Estimate.

John Williamson, CEO, commented, “AGB results and visuals continue to indicate that the entire AGB area remains open in all directions. The AGB expansion and definition drilling continues to intersect additional mineralization to the west, south and at depth. This area is providing significant gold-silver material at surface and is in-filling previously unknown mineralization within 270 vertical metres of surface. When 2020 drilling is completed at AGB, we anticipate significant gold-silver ounces from surface to depth that will contribute to the 2021 Mineral Resource Estimate”.

Table #2: New drill results from the AGB Zone organized from north to south with reference to Image #1

*Gold equivalent (AuEq) calculated using 80:1 gold to silver ratio.

**Intervals are core-length. True width is estimated between 80 to 90% of core length.

***First interval includes backfill in the UG workings from 37.18-44.48m.

****39.01-51.00m is backfill in the underground workings

*****Voids in the upper zone of 4.55 m within interval 55.56-97.50m

Image #1 – AGB Plan map of 2019/20 drilling and image of the AGB zone

Image #2 – AGB cross section

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L'Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over- limits being re-analyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

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.

About Benchmark Metals

Benchmark Metals Inc. is a Canadian mineral exploration company focused on proving and developing the substantial resource potential of the Lawyer’s Gold-Silver Project, located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Company trades on the TSX Venture Exchange in Canada, the OTCQB Venture 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

Benchmark is part of the Metals Group portfolio of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection, uncompromising corporate governance and a unique ability to pan through the rubble to discover and develop golden opportunities.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “John Williamson”

John Williamson, Chief Executive Officer

For further information, please contact:

Jim Greig

Email: [email protected]

Telephone: +1 604 260 6977

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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.