Mr. Killian Charles reports

BRUNSWICK EXPLORATION BEGINS TRADING ON THE OTCQB

Brunswick Exploration Inc.'s common shares are now trading on the OTCQB Venture Market, a United States market operated by OTC Markets Group Inc. in New York, under the symbol BRWXF. The company will continue to trade on the TSX Venture Exchange under its symbol BRW.

Killian Charles, president and chief executive officer, commented: "As one of the largest lithium grassroot exploration company in the Americas, the new listing on the OTC will allow a broader group of investors to participate in our lithium exploration strategy, and Brunswick Exploration will benefit from the improved visibility and trading liquidity for U.S. institutional and retail investors."

The OTC operates the world's largest electronic interdealer quotation system for U.S. broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Trading on the OTCQB market enables companies to efficiently build broader investor awareness and provide U.S. investors with a seamless trading facility to more easily trade through the broker of their choice. U.S. investors can find current financial disclosure and real-time Level 2 quotes for the company on the OTC market website.

Update to prior transactions

Acquisition of five mining claims in the Baie James area

The company entered into a purchase agreement dated Feb. 11, 2023, with Wayne Holmstead (the seller) for the purchase of a 100-per-cent interest in five mining claims located in the Eeyou Istchee-James Bay region of Quebec. The company paid an amount of $5,000 in cash and issued 12,500 common shares to the seller as consideration for the property. The seller retains a 2-per-cent net smelter return overriding royalty on the property, half of which the company may purchase for $1-million.

Option agreement with Globex Mining Enterprises Inc.

The company has made the first payment of $25,000 in cash and $25,000 in common shares required under the option agreement entered into on Jan. 5, 2023, with Globex Mining Enterprises. As previously disclosed in a news release dated Jan. 24, 2023, the Globex agreement allows the company to acquire up to a 100-per-cent undivided interest in the Lac Escale claim block, composed of 96 mining claims located in the Eeyou Istchee-James Bay region of Quebec. Additional payments totalling $425,000 must be made by the company over a three-year period in order to exercise the option, half of which will paid in common shares of the company at a minimum deemed value of 45 cents per common share (representing a maximum of 500,000 additional common shares).

Option agreement with General Partnership Osisko Baie James

Pursuant to an agreement initially entered into in November, 2022, and signed on March 1, 2023, between the company and General Partnership Osisko Baie James (Osisko GP), the company may acquire 90 per cent of the Anatacau and PLEX properties, in consideration for payment in common shares of the issuer and the execution of exploration work. The terms of this transaction are described in news releases dated Nov. 28, 2022, and Dec. 5, 2022. These initial announcements however incorrectly stated that the agreement was entered into with Osisko Development Inc., an affiliated entity of Osisko GP. This transaction remains subject to the approval of the TSX Venture Exchange.

Grant of options

Brunswick Exploration's board of directors has approved the grant of incentive stock options to certain directors, officers, key employees and key consultants to purchase up to an aggregate of 2.25 million common shares in the capital stock of the company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of 83 cents per share.

Correction to "Table 1: Drill Holes with Pegmatite Intersections Greater Than Two Meters"

Brunswick Exploration would like to correct certain values (easting, northing and azimuth) for four holes (AW-23-01, AW-23-16, AW-23-17 and AW-23-18) in the April 20 news release. All other values and the provided map in the news release remain accurate.

About Brunswick Exploration Inc.

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 with holdings in Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick and Nova Scotia.

We seek Safe Harbor.