Mr. Killian Charles reports

BRUNSWICK EXPLORATION COMPLETES BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$3.5 MILLION

Brunswick Exploration Inc. has closed its previously announced private placement for aggregate gross proceeds of $3.5-million, which includes the full exercise of an agent option for proceeds of $1-million. Under the offering, the corporation sold: (i) 12,980,769 units of the corporation (the listed issuer financing exemption units) at a price of 13 cents per LIFE unit for gross proceeds of $1,687,500 from the sale of LIFE units; and (ii) 12,083,333 units of the corporation at a price of 15 cents per non-LIFE unit for gross proceeds of $1,812,500 from the sale of non-LIFE units. An aggregate of 25,064,102 offered securities were sold under the offering.

Each LIFE unit consists of one common share of the corporation and one-half of one common share purchase warrant. Each whole LIFE warrant entitles the holder thereof to purchase one common share of the corporation at a price of 20 cents at any time on or before May 30, 2028.

Each non-LIFE unit consists of one unit share and one common share purchase warrant. Each non-LIFE warrant entitles the holder thereof to purchase one warrant share at a price of 25 cents at any time on or before May 30, 2028.

Red Cloud Securities Inc. acted as co-lead agent and sole bookrunner along with Canaccord Genuity Corp. as co-lead agent in connection with the offering. In consideration for its services, the agent received an aggregate cash commission of $181,515 and 588,960 non-transferable broker warrants. Each broker warrant is exercisable for one common share of the corporation at a price of 13 cents per broker share at any time on or before May 30, 2028.

Insiders of the corporation participated in the offering and were issued an aggregate of 70,000 common shares of the corporation. Such participation in the offering is a related-party transaction as defined in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to insiders nor the consideration for such securities by insiders exceeds 25 per cent of the corporation's market capitalization.

In accordance with National Instrument 45-106 (Prospectus Exemptions), the LIFE units were offered for sale to purchasers in all the provinces of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities issued pursuant to the sale of LIFE units are immediately freely tradable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

The non-LIFE units were offered by way of the accredited investor and minimum amount investment exemptions under NI 45-106 in the provinces of Canada. The securities to be issued pursuant to the sale of non-LIFE units are subject to a four-month hold period ending on Oct. 1, 2025, pursuant to applicable Canadian securities laws. Completion of the offering remains subject to the final approval of the TSX Venture Exchange.

The corporation intends to use the net proceeds of the offering for exploration activities at the corporation's Quebec and Greenland projects, as well as for general corporate purposes and working capital.

About Brunswick Exploration Inc.

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX Venture Exchange under symbol BRW. The corporation is focused on grassroots exploration for lithium in Canada, 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 Greenland.

We seek Safe Harbor.