Mr. Killian Charles reports

BRUNSWICK EXPLORATION IDENTIFIES MAJOR SPODUMENE-BEARING PEGMATITE BOULDER FIELD AT THE MIRAGE PROJECT

Brunswick Exploration Inc. has identified a major trend of large spodumene-bearing pegmatite boulders over 1.7 kilometres of strike length at the Mirage project in the James Bay-Eeyou Istchee region of Quebec. The Mirage project is located approximately 105 km east of Patriot Battery Metals' Corvette lithium project and 34 km northeast of Winsome Resources' Adina project.

Killian Charles, president and chief executive officer of Brunswick Exploration, commented: "With the positive identification of over 20 large spodumene-bearing boulders, the Mirage project is now a top priority for the company. The field crew is eager to return as soon as the government-imposed fire restrictions are lifted. I am particularly excited that prospecting rapidly uncovered such large, well-mineralized boulders with pale grey spodumene crystals as the project remains unexplored for lithium. BRW will immediately apply for drill permits with the objective of drilling as rapidly as possible in Q3 once the source(s) of the boulders has been identified."

The follow-up fieldwork for spodumene-mineralized boulders, first identified by a geologist nearly 25 years ago (see press release dated Jan. 24, 2023), confirmed the presence of over 20 plurimetric spodumene-bearing pegmatite boulders in a band over an up-ice strike length of 1.7 km. All boulders observed host well-defined, large (up to 50 centimetres) light grey spodumene crystals with mineralization varying between 5 and 50 per cent of the pegmatite. Boulders are subangular to subrounded. Gangue mineralization is typical of lithium-cesium-tantalum-type pegmatites and consists of coarse-grained quartz, rubidium-rich feldspars and muscovite with minor amounts of tourmaline and fluorite.

While the source has not yet been identified, based on the angular shape of boulders, their large size and abundant distribution, the source is interpreted to be close and within the project boundary. The largest boulder identified to date measures over six metres by six metres by five metres. No exploration work for lithium has previously been conducted in the area, and the Mirage claim group stretches up-ice for 18 km from the boulder field.

Next steps

The discovery was made in two field days before government-imposed restrictions due to forest fires forced the Brunswick field teams to evacuate the James Bay-Eeyou Istchee region. Once restrictions are lifted, Brunswick Exploration will immediately dispatch its team to continue to advance the project toward the drilling stage. The full strike extent of the boulder field remains undefined with potential for more spodumene-bearing boulders (and their source) to the northeast. Based on these exciting results and the potential for additional discoveries, Brunswick Exploration will immediately apply for drilling permits to follow up on the forthcoming summer fieldwork.

Mirage project overview

The Mirage project covers wholly owned claims by Brunswick Exploration, claims under option from Globex Mining Enterprise on which the company can earn 100-per-cent ownership and claims under option from Osisko Development through General Partnership Osisko Baie James where Brunswick Exploration can earn 90-per-cent ownership.

Corporate update on PLEX and Anatacau agreement

Under the terms of an agreement between the company and General Partnership Osisko Baie James (Osisko GP), the company can acquire an undivided 90-per-cent interest in the Anatacau and PLEX properties, in consideration for payments in common shares of the corporation and the performance of exploration work (see news releases dated Nov. 28, 2022, Dec. 5, 2022, and April 25, 2023). Andre Le Bel, director of the corporation, refrained from participating in the discussions relating to the conclusion of this agreement given his ties with Osisko Gold Royalties Ltd., a company related to Osisko GP.

Qualified person

The scientific and technical information contained in this press release in regard to Quebec has been reviewed and approved by Francois Goulet, exploration manager, Quebec. He is a professional geologist registered in Quebec (OGQ).

About Brunswick Exploration Inc.

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX Venture Exchange 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 projects portfolio in Canada with holdings in Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick and Nova Scotia.

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