Mr. Killian Charles reports

BRUNSWICK EXPLORATION CLOSES UPSIZED NON-BROKERED PRIVATE PLACEMENT OF $4.8M

Brunswick Exploration Inc. has closed its previously announced non-brokered private placement, which was upsized with aggregate gross proceeds of $4,809,370.20 from the sale of the following:

• 11,755,382 common shares of the corporation 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 flow-through share for gross proceeds of $2,703,737.86;
• 4,837,242 common shares sold to Canadian purchasers as flow-through shares within the meaning of the tax act at a price of 21.5 cents per national flow-through share for gross proceeds of $1,040,007.03;
• 3,437,501 common shares sold to Canadian purchasers as charity flow-through shares at a price of 31 cents per charity flow-through share for gross proceeds of $1,065,625.31.

Killian Charles, president and chief executive officer, commented: "I'm pleased to see such strong support from existing shareholders and board members in this financing. With this fresh injection of capital, BRW will continue to advance its Mirage project alongside the rest of its Quebec portfolio in a financially sustainable fashion. Looking to 2025, we will announce final results from our Q3 2024 drill campaign at Mirage alongside metallurgical results. This will then lead to a new winter drill campaign at Mirage; more details on this campaign will be shared in January."

In connection with the offering, the corporation paid finders' fees to arm's-length third parties in an amount of $170,872.79.

Insiders of the corporation participated in the offering and were issued an aggregate of 2,887,501 common shares. Such participation in the offering is a related party transaction as defined in Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions. The offering is exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of the securities issued to insiders nor the consideration for such securities by insiders exceed 25 per cent of the corporation's market capitalization.

The offering remains subject to the final approval of the TSX Venture Exchange.

The offered shares are subject to a statutory four-month-and-one-day hold period.

About Brunswick Exploration Inc.

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. 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.