Mr. Killian Charles reports

BRUNSWICK EXPLORATION INTERSECTS SIGNIFICANT SPODUMENE MINERALIZATION IN DYKE SWARM AT MIRAGE

Brunswick Exploration Inc. has released inaugural drilling results from the Mirage lithium project, located in the Eeyou Istchee-James Bay region of Quebec. The initial 5,000-metre drilling campaign outlined four major spodumene-bearing pegmatite dikes, where significant intervals of continuous lithium mineralization were drilled. All pegmatite dikes drilled to date start at surface, are open in all directions and are located within an area of approximately two by two kilometres. Several other outcropping dikes and promising targets have yet to be drilled, including the sizable boulder train to the southwest of the dike swarm.

Highlights include:

• Bonanza grades of 2.57 per cent over 25.8 metres in drill hole MR-23-02, including 14.2 metres at 3.08 per cent Li2O at a vertical depth of 28 metres from dike MR-1 in the North zone;
• Thick intercept of 50.6 m at 1.06 per cent Li2O in drill hole MR-23-07 from dike MR-3 in the Central zone at a shallow vertical depth of 22 metres;
• Another bonanza intercept in drill hole MR-23-14: 16.2 m at 2.75 per cent Li2O, including 9.5 metres at 3.30 per cent Li2O at a vertical depth of 40 metres in dike MR-4 from the South zone;
• To date, spodumene-bearing pegmatite dikes have been traced by drilling over a combined strike extent of at least 1,500 metres and remain open in all directions;
• Only 60 per cent of the pegmatite outcrops have been drilled, presenting further drill targets, which will be tested in winter 2024;
• Assays are pending for a further 23 drill holes completed during the fall 2023 program.

Killian Charles, president and chief executive officer of Brunswick, commented: "We are rapidly starting to outline a major discovery in the Eeyou Istchee-James Bay. This true grassroots discovery was first identified in August, with drilling beginning less than six weeks later. Already several large mineralized dikes have been intercepted in shallow drilling with significant bonanza-style grade reported in this first set of assays. Importantly, these pegmatite dikes remain open in all directions. With the recently completed $5.7-million financing, we are well positioned to substantially expand the discovery at Mirage with a winter 2024 drill program."

Robert Wares, founder and executive chairman, also commented: "I am very pleased with these initial drill results. Mirage already demonstrates potential for a large lithium-rich dike field with some of the highest-grade intercepts reported in Eeyou Istchee-James Bay. Furthermore, I believe the distribution of the first four mineralized dikes at Mirage does not explain the three-kilometre-long trend of rich spodumene-bearing boulders that occurs to the southwest. With more outcropping spodumene-bearing dikes located another three kilometres to the northeast, we have considerable exploration work and drilling to do to unlock the full potential of this promising property."

Mirage drilling campaign overview

The aim of the 2023 drilling campaign was to test at shallow depths (less-than-150-metre vertical depth) the pegmatite dikes mapped from surface to determine their geometry and orientation. Thirty-six diamond drill holes were completed for a total of 5,090 metres drilled to date. Thirty-three of the 36 holes drilled during the 2023 campaign intercepted mineralized pegmatites.

The mineralized pegmatite dikes discovered at the Mirage project are distributed along three major trends in a northeast-southwest axis: the North, Central and South zones, within a two-by-two-kilometre area. The mineralized dikes are massive and very coarse grained, with a mineralogy consisting of quartz, white feldspar, minor muscovite and black tourmaline, light grey spodumene, and traces of beryl. The consistently decimetric spodumene mineralization often reaches up to 50 per cent of the modal mineral content.

This inaugural drilling campaign has extended the mineralized pegmatites over a combined distance of 1.5 kilometres and demonstrates excellent continuity with several high-grade zones intersected to date. All pegmatite dikes remain open in all directions. In addition, several other outcropping spodumene-bearing pegmatites remain to be drill tested.

Central zone

The MR-3 pegmatite dike intercepted in the Central zone shows significant apparent thicknesses of up to 50.6 metres at 1.06 per cent.

Li2O (MR-23-07) has a moderate dip at around 50 degrees toward the south with true thickness estimated at 95 per cent in all reported holes. The main dike in the Central zone is oriented northeast and reaches the surface where it can be traced continuously for more than 400 metres with continuous thickness in excess of 40 metres and grade averaging approximately 1.00 per cent. To date, the main dike in the Central zone is defined by six drill holes (MR-23-05 to 07 and MR-23-09 to 12) and remains open in all directions.

A second, unmapped dike (MR-3A) was identified in drill hole MR-23-08, marking the first blind discovery of a pegmatite dike at Mirage. The hole only partially intercepted the margin of the dike, and is not representative of the grade or width of the MR-3A dike. Drill hole MR-23-35 targeted this new dike, and assays are still pending.

North zone

Four shallow drill holes were carried out in the North zone (MR-23-01 to MR-23-04). All holes intercepted two spodumene-bearing pegmatite dikes, MR-1 and MR-2. Two holes MR-23-01 and MR-23-02 returned bonanza-grade interval: 24.5 metres at 2.18 per cent Li2O and 25.8 m at 2.57 per cent Li2O, respectfully. The MR-1 dike likely dips to the north, and the true thickness is estimated to be 90 per cent of the core length. Both dikes remain open in all directions. Furthermore, another three spodumene-pegmatite outcrops located up to one km farther east remain undrilled in the North zone.

South zone

Preliminary results from the South zone, all from pegmatite dike MR-4, also show significant near-surface bonanza-grade mineralization. The dike has been continuously traced by drilling over more than 750 metres with a moderate dip of 45 degrees to the south. Only one drill hole from the dike in the South zone is reported in this news release. MR-23-14 returned 16.2 m at 2.75 per cent LiO. Similar bonanza mineralization has been observed along the entire length of the dike and remains open in all directions.

Quality assurance/quality control

All drill core samples were collected under the supervision of Brunswick 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 one-metre intervals to ensure representativity, and one-fourth core splits were inserted regularly as duplicates. Samples were bagged, and blanks and certified reference materials for lithium were inserted at regular intervals. Groups of samples were placed in larger bags, sealed with numbered tags, to maintain a chain of custody. The sample bags were transported from the Brunswick contractor facility to the ALS laboratory in Val d'Or. All sample preparation and analytical work was performed by ALS. Samples were crushed in order for 70 per cent of the material to pass through a two-millimetre screen (method CRU-31), a riffle split was made of a 1,000-gram subsample (SPL-21) and the split sample was pulverized (PUL-31) to obtain more than 85 per cent of the material inferior to 75 micrometres. A 0.2-gram subsample of the pulverized fraction was dissolved in a sodium peroxide solution, prior to lithium analysis by ICP-AES according to the ALS method ME-ICP82b. 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 on the basis of a lower cut-off grade of 0.10 per cent Li2O, with maximum internal dilution of one metre. Host basalts adjacent to the dikes grade up to 0.3 per cent 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 Francois Goulet, manager, Quebec. He is a professional geologist registered in Quebec and is a qualified person as defined by National Instrument 43-101.

About Brunswick Exploration Inc.

Brunswick is a Montreal-based mineral exploration company listed on the TSX Venture Exchange under the 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.

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