Mr. Killian Charles reports

BRUNSWICK EXPLORATION ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF $3M

Brunswick Exploration Inc. has arranged a non-brokered private placement to raise gross proceeds of up to $3-million from the sale of the following:

• Up to 6,525,000 common shares of the corporation to be sold to Quebec purchasers as flow-through shares, within the meaning of the Income Tax Act (Canada) and the Taxation Act (Quebec), at a price of 23 cents per Quebec FT share for gross proceeds of up to $1,500,750;
• Up to 2,326,000 common shares to be sold to Canadian purchasers as flow-through shares, within the meaning of the tax act, at a price of 21.5 cents per national FT share for gross proceeds of up to $500,090;
• Up to 3,226,000 common shares to be sold to Canadian purchasers as charity flow-through shares at a price of 31 cents per charity FT share for gross proceeds of up to $1,000,060.

Killian Charles, president and chief executive officer of Brunswick Exploration, commented: "Over the previous 12 months, we outlined one of Quebec's premier lithium projects with our exciting Mirage project. We have continued to delineate and expand multiple near-surface spodumene pegmatites, all of which remain open. With high-priority targets planned for drilling in Q1 and beyond, we have launched a prudent financing which will benefit from strong management and board participation. Concurrent to our plans at Mirage, we will also complete follow-up work at our latest discovery at the Anatacau West project and continue to advance the first confirmed lithium discovery in Greenland throughout 2025."

The corporation intends to use the proceeds raised from the offering to accelerate drilling at the Mirage project and begin testing the recently announced discovery at the Elrond project. Proceeds from the sale of offered shares will be used to incur Canadian exploration expenses, as defined in Subsection 66.1(6) of the tax act, flow-through mining expenditures, as defined in Subsection 127(9) of the tax act, and for Quebec-eligible proceeds using the two 10-per-cent enhancements under Section 726.4.9 and Section 726.4.17.1 of the Quebec tax act. Such proceeds will be renounced to the subscribers with an effective date of not later than Dec. 31, 2024, in the aggregate amount of not less than the total amount of gross proceeds raised from the sale of offered shares.

The offering is scheduled to close on or around Dec. 16, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About Brunswick Exploration Inc.

Brunswick Exploration is a Montreal-based mineral exploration company. The corporation is focused on grassroots exploration for lithium, a critical metal necessary to global decarbonization and energy transition. The corporation is rapidly advancing the most extensive grassroots lithium property portfolio in Canada and in Greenland.

We seek Safe Harbor.