Brunswick Exploration Drills 58.1 Meters at 1.59% Li2O Starting From Surface at Mirage

MONTREAL, April 25, 2024 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; "BRW" or the "Company") is pleased to report the first assays from the Mirage winter drilling campaign where it drilled an additional thirty-five holes. The Mirage Project is located in the Eeyou Istchee-James Bay region of Quebec approximately 40 kilometres south from the Trans-Taiga Road. The winter drill campaign focused on the Central Zone and has continued to intersect multiple wide, well mineralized intervals on the MR-6 dyke and its vicinity where it remains open in all directions.

Highlights include:

• Best interval to date at Mirage with 1.59% Li2O over 58.1 meters in drill hole MR-23-49 starting at surface and which extends the flat dipping MR-6 dyke a further 80 meters to the south. Importantly, MR-6 remains open to all directions.
• Evidence of significant dyke stacking with an intercept of 1.71% Li2O over 31.6 meters, including 14.0 meters at 2.32% Li2O in drill hole MR-23-60 at a vertical depth of 60 meters, located 300 meters east from MR-6.
• Several other significant near surface intercepts in drill MR-24-60 including 1.03% Li2O over 18.4 meters at a vertical depth of 11 meters, and 0.93% Li2O over 12 meters. To date, four major dykes have been intercepted in this hole and all remain open in every direction.
• A total of 35 drill holes prioritizing near surface mineralization were completed during the winter and assays are pending for a further 32 drill holes.

Mr. Killian Charles, President and CEO of BRW, commented: "The winter drilling reaffirms once more Mirage's position as one of the most exciting lithium discoveries in Quebec. Building upon the last discovery from our previous campaign in 2023, the MR-6 dyke has proven to be an extremely prospective exploration target with significant potential as it remains open in all directions. On the basis of current and expected results from our winter campaign, we have immediately started preparations and planning for a summer drilling campaign at Mirage. Combined with our extensive grassroot exploration across Canada and Greenland, the forthcoming summer promises to be milestone-rich for Brunswick Exploration shareholders."

Figure 1: Surface Map of the Mirage Project and Drill Holes Completed to Date

Table 1: Highlights from 2024 Winter Drilling Program Mentioned in this Release

Figure 2: Central Zone of the Mirage Project

Mirage Project Drilling Overview

The Mirage Project comprises 427 claims located roughly 40 kilometers south of the Trans-Taiga Highway in Quebec's James Bay region and 34 km northeast of Winsome Resources' Adina Project. On the project, a spodumene-bearing pegmatite boulder field extends over 3.0 kilometers in a northeast direction and several dozen well-mineralized pegmatite outcrops have been observed along a 2.5 kilometers-long trend further to the northeast. Both the extent of the outcrops and boulder train remain open in all directions (See August 21, 2023 press release).

The Central Zone sits on a synformal fold hinge axis, oriented east-northeast, where multiple wide high grade pegmatite dyke were intercepted predominantly in MR-3 and MR-6. The sub-horizontal and near-surface MR-6 dyke appears to become thicker to the southwest (see Figure 3). However, the width and strike extent remain to be fully tested with true thicknesses varying between 75% and 95%. Further drill holes will be released from MR-6 and it is expected to be a core part of future drilling campaigns at Mirage. The MR-3 dyke, located 350 meters southeast of MR-6 in the Central Zone also demonstrates significant apparent thicknesses of up to 50.6 meters at 1.06% Li2O (See December 4, 2023 press release) with a moderate dip at around 50 degrees towards the south with true thickness estimated at 95% in all reported holes. MR-3 is oriented NE and reaches the surface where it can be traced continuously for more than 400 meters with continuous thickness in excess of 40 meters.

The new discoveries in MR-24-60 (see Figure 4) also significantly extend the potential in the Central Zone another 300 meters to the northeast of MR-6. This area has seen very little exploration with only a single hole drilled to date and all pegmatites, including the four sizeable ones, remain open in all directions. These four pegmatites are near surface and demonstrate similar mineralogy to MR-6.

Figure 3: Cross Sections Along Hole MR-24-49

Figure 4: Cross Sections Along Hole MR-24-60

The North Zone is located on the north limb of the folding, where the MR-1 dyke likely dips to the north and returned bonanza grade intervals of 24.5 m at 2.18% Li2O and 25.8 m at 2.57% Li2O (See December 4, 2023 press release). Located 500m northeast, MR-24-57 significantly extends the exploration potential in the North Zone with the discovery of a new dyke that returned 0.84% Li2O over 6.5 meters (see above) where it remains open in all directions.

QAQC

All drill core samples were collected under the supervision of BRW employees and contractors. The drill core was transported by helicopter and by truck from the drill platform to the core logging facility in Val-d'Or. Each core was then logged, photographed, tagged, and split by diamond saw before being sampled. All pegmatite intervals were sampled at approximately 1m intervals to ensure representativity. Samples were bagged; duplicated on one-quarter core splits; blanks and certified reference materials for lithium were inserted every 20 samples. Samples were bagged and groups of samples were placed in larger bags, sealed with numbered tags, in order to maintain a chain of custody. The sample bags were transported from the BRW contractor facility to the ALS laboratory in Val-d'Or. All sample preparation and analytical work was performed by ALS by ICP-AES according to the ALS method ME-MS89L. All results passed the QA/QC screening at the lab and all inserted standard and blanks returned results that were within acceptable limits. All reported drill intersections are calculated based on a lower cutoff grade of 0.3% Li2O, with maximum internal dilution of 5 meter. Host basalts adjacent to the dykes may grade up to 0.3% Li2O but were excluded from the reported intersections.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. Simon T. Hébert, VP Development. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Canada.

Investor Relations/information

Mr. Killian Charles, President and CEO ([email protected])

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the 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 news release.

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