Mr. Killian Charles reports

BRUNSWICK ANNOUNCES LIFE OFFERING AND CONCURRENT PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO $11 MILLION

Brunswick Exploration Inc. has entered into an agreement with Canaccord Genuity Corp., to act as lead agent, for and on behalf of a syndicate of agents, in connection with a best effort private placement for aggregate gross proceeds of up to $9,000,900 from the sale of any combination of the following:

1. Up to 10.53 million common shares of the company at a price of 19 cents per common share;
2. Up to 23,334,000 common shares of the company that qualify as charity flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec) to be sold to charitable purchasers at a price of 30 cents per charity FT share.

Killian Charles, president and chief executive officer of Brunswick, commented: "This financing allows up to execute a major exploration campaign at Anatacau in 2027. More importantly, board and management will be significant investors in this financing. We believe in the incredible prospectivity of Anatacau and wish to actively participate in the growth of the company."

The company is also pleased to announce a concurrent non-brokered private placement of up to 7,142,857 traditional flow-through common shares of the company that also qualify as a flow-through share within the meaning of Subsection 66(15) of the ITA and Section 359.1 of the QTA, at a price of 28 cents per FT share, for gross proceeds of up to $2-million.

The gross proceeds from the sale of the charity FT shares and the FT shares will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as both terms are defined in the ITA on the company's properties in Quebec, Canada, on or before Dec. 31, 2027. All qualifying expenditures will be renounced in favour of the subscribers of the charity FT shares and FT shares, effective Dec. 31, 2026. The net proceeds from the sale of the common shares will be used for exploration activities at the company's properties and for working capital and general corporate purposes, as are more fully described in the offering document (as defined below).

The agents will have an option, exercisable in full or in part, up to 48 hours prior to the closing date, to raise up to $1,050,030 in additional gross proceeds from the sale of charity FT shares at a price of 30 cents per charity FT share.

Subject to compliance with applicable regulatory requirements and in accordance with Regulation 45-106 respecting prospectus exemptions, the common shares and the charity FT shares will be offered for sale to purchasers in all the provinces and territories of Canada pursuant to the listed issuer financing exemption under Part 5A of Regulation 45-106, as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The common shares may also be offered for sale in the United States pursuant to available exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and in other jurisdictions outside of Canada and the United States provided that no prospectus, registration statement or similar document is required to be filed or no continuing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions. The securities to be issued to purchasers resident in Canada under the LIFE offering are expected to be immediately freely tradable under applicable Canadian securities legislation.

There is an offering document related to the LIFE offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

Under the concurrent private placement, the FT shares will be offered pursuant to applicable prospectus exemptions under Regulation 45-106, other than the listed issuer financing exemption. The securities to be issued pursuant under the concurrent private placement will be subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws.

In consideration for their services, the agents will receive a cash fee equal to 6 per cent of the gross proceeds of the LIFE offering. In addition, the company will issue to the agents non-transferable warrants representing 3 per cent of the aggregate number of charity FT shares and common shares issued pursuant to the LIFE offering. Each such warrant will entitle its holder to purchase one common share at the price of 19 cents for a 36-month period following the closing date. The LIFE offering and concurrent private placement are expected to close on or about Nov. 25, 2026, or such other date(s) as the company and the agents may agree. Completion of the LIFE offering and concurrent private placement is subject to certain conditions, including a minimum raise of $8-million under the marketed offering and 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 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, Greenland and Saudi Arabia underpinned by its Mirage project, one of the largest undeveloped hardrock lithium inferred mineral resource estimate in the Americas.

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