Mr. Killian Charles reports

BRUNSWICK EXPLORATION DRILLS 1.80% LI2O OVER 37.2 METERS IN NEW MINERALIZED Dike AT MIRAGE

Brunswick Exploration Inc. has released final drill results from the fall 2023 program at the Mirage project, located in the Eeyou Istchee-James Bay region of Quebec. Drilling has outlined two new spodumene mineralized dikes (MR-5 and MR-6) with significant thickness and grade, all within the Central zone.

Highlights include:

• MR-23-28 intersected high-grade mineralization of 1.80 per cent lithium oxide over 37.2 metres starting from surface in newly discovered dike MR-6 located 500 metres northeast of MR-3.
• Evidence of potential stacking of dikes in Central zone where MR-23-35 intercepted 11.5 metres grading 1.1 per cent Li2O approximately 100 metres south of MR-3 in new dike MR-5.
• Hole MR-23-33 intercepted over nine blind, stacked dikes over a down-hole length of approximately 95 metres with thickness varying from 0.8 to 7.3 metres.
• All of the dikes announced in this news release are open along strike and at depth.
• In the maiden drill program, five of the six dikes reported continuous high-grade mineralization (over 1.5 per cent Li2O) over significant width (over 10 metres) all within a roughly two-kilometre-by-two-kilometre dike swarm.

Killian Charles, president and chief executive officer of Brunswick, commented: "I am very pleased with our maiden drill program at Mirage which successfully identified significant lithium mineralization in nearly all holes drilled. Importantly, all of the dikes drilled at Mirage remain open both along strike and at depth. Alongside the discovery of several blind dikes (predominantly in the Central zone to date), several undrilled targets and a favourable structure in excess of 12 kilometres, we have built a strong foundation for continued exploration success at Mirage as we advance towards our phase 2 drilling program scheduled to begin imminently."

Central zone drilling

The company received from the laboratory the last batch assay results for 10 holes from its maiden drill program at Mirage. Intersections reported in this announcement confirm the discovery of multiple, new lithium mineralization in spodumene-bearing pegmatites in the Central zone. Of these, MR-5 and MR-6 are discussed herein.

MR-6 dike

The high-grade MR-6 dike is defined by three holes drilled in fan pattern which returned values of 1.80 per cent Li2O over 37.2 metres (MR-23-28), 1.55 per cent Li2O over 32.2 metres (MR-23-29) and 1.75 per cent Li2O over 24.6 metres (MR-23-30). As all drill holes started in the pegmatite, the true thickness of the dike is unknown but assumed to be greater than 32 m. The dike reaches surface and is interpreted to have a shallow dip of 15 degrees toward the southeast. So far, the dike is mapped at surface over 110 m and traced down dip over 100 m. The MR-6 dike is located approximately 500 metres to the northeast and along strike of MR-3 where the company reported several intercepts over 40 m of mineralized pegmatite with grade above 1 per cent Li2O. However, due to significantly higher reported grade and much shallower dip, at this time, it is assumed to be a different dike. No drilling was done between the two dikes and MR-6 remains open in all directions.

MR-5 dike

The MR-5 dike is located approximately 100 m south of MR-3 dike and returned values of 1.1 per cent Li2O over 11.5 metres (MR-23-35) within a larger 22-metre pegmatitic zone. The true thickness is estimated at 95 per cent of the core length. Hole MR-23-35 followed up on the dike intersected in MR-23-08 and is assumed to have a shallow dip of 25 degrees to the southeast. MR-5 does not outcrop at surface and is open in all directions. MR-5 proximity to MR-3 dike potentially indicates that the structure is favoyrable for stacking.

Central zone deformation corridor

To the south of MR-6, a major northeast-southwest deformation corridor transects the Mirage project. A total of four holes (MR-23-31, -32, -33, -36) were drilled in the corridor. Unlike other holes drilled across Mirage, spodumene dikes are narrower but show multiple stacking over wider intercepts and maintain their high-grade nature.

Holes MR-23-31 and -32 were designed to test four small spodumene-bearing pegmatite outcrops mapped in 2023. Both holes intercepted six semi-continuous intervals of smaller (less than 10 metres), stacked spodumene-bearing pegmatite dikes gently dipping 30 degrees to the southeast over approximately 40 m at a vertical depth 40 and 60 metres in MR-23-31 and MR-23-32, respectively. These dikes are located near and at high angles from the metabasalt and metasediment contact and all remain open in all directions. The most significant interval returned values of 1.50 per cent Li2O over 5.3 metres and 1.13 per cent Li2O over 4.2 metres in MR-23-31, respectively, at 23 m and 33 m vertically from surface.

In the southeastern portion of the Central zone, south of MR-23-31 and -32, MR-23-33 and MR-23-36 were blind holes that drilled and intercepted a series of pegmatite intervals mostly hosted in metabasalt. MR-23-33 outlined over nine separate spodumene-bearing pegmatite dike intervals (less than 10 metres) from 140.2 to 234.9 m down hole and was stopped at 240 m. The pegmatite dike swarm represented roughly 32 per cent of a 95 m interval. Similar mineralization and results were observed in hole MR-23-36, 150 m laterally to the west.

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 m intervals to ensure representativity, and one-fourth core splits were inserted regularly as duplicates. Samples were bagged; blanks and certified reference materials for lithium were inserted at regular intervals. 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 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 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 inductively coupled plasma atomic emission spectroscopy 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. All drill hole collar, orientation and inclination data are available on the company's website.

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 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 property portfolio in Canada.

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