Mr. Killian Charles reports

BRUNSWICK EXPLORATION ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Brunswick Exploration Inc. has closed a first tranche of its previously announced non-brokered private placement for aggregate gross proceeds of $1,493,700.75, consisting of the issuance of 1,757,295 units of the corporation at a price of 85 cents per unit.

Each unit consists of one common share of the corporation and one-half of one common share purchase warrant of the corporation. Each warrant entitles the holder thereof to acquire one common share at a price of $1.25 for a 36-month period following the closing date of the offering.

Closing of the second and final tranche of non-brokered private placement is expected by March 31, 2023.

The corporation expects to use the net proceeds from the offering for exploration of the corporation's projects in Quebec, Ontario, Saskatchewan and Manitoba as well as for general working capital and corporate purposes.

In connection with this offering, the corporation paid cash finders' fees of $12,750 and issued 7,500 compensation warrants to an arm's-length third party. Each such compensation warrant entitles its holder to acquire one common share at a price of 85 cents for a 36-month period following the closing date of the offering.

The offering was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. All securities issuable pursuant to the offering are subject to a statutory four-month-and-one-day hold period expiring on July 25, 2023, in accordance with applicable securities legislation.

About Brunswick Exploration Inc.

The corporation is a Montreal-based mineral exploration venture listed on the TSX Venture Exchange under the symbol BRW. The corporation is focused on grassroots exploration for metals necessary to decarbonization and energy transition, with a particular focus on lithium. The corporation is rapidly advancing the most extensive grassroots lithium project portfolio in North America with holdings in Quebec, Ontario, Saskatchewan, Manitoba and Atlantic Canada.

We seek Safe Harbor.