Mr. Troy Boisjoli reports

MURCHISON MINERALS ANNOUNCES $1 MILLION NON-BROKERED PRIVATE PLACEMENT

Subject to TSX Venture Exchange acceptance, Murchison Minerals Ltd. intends to raise up to $1-million in a non-brokered private placement, with the proceeds directed toward the company's 100-per-cent-owned BMK project in Saskatchewan, working capital and administrative expenses, as described below.

Pursuant to the offering, the company will issue common share units at a price of 18 cents per CSU and flow-through common share units at a price of 25 cents per FTU, in any combination, to raise aggregate gross proceeds of up to $1-million.

A finder's fee may apply to a portion of the proceeds raised under the offering in the amount of 6 per cent in cash and 6 per cent in finders' warrants. All securities issued pursuant to the offering will be subject to a four-month hold period from the date of issue.

Each CSU is composed of one common share of the company and one-half of a common share purchase warrant, and each FTU is composed of one flow-through common share of the company and one-half of a warrant. Each whole warrant shall be exercisable to acquire one additional common share at a price of 50 cents for a period of 24 months. Each finder's warrant will be exercisable to acquire one common share at a price of 18 cents for a period of 24 months.

The gross proceeds from the sale of FTU will be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as such terms are defined in the Income Tax Act (Canada), on the BMK project, which will be renounced to subscribers with an effective date no later than Dec. 31, 2026. The net proceeds from the sale of CSU will be used for exploration of the BMK project, working capital, and general and administrative expenses.

Insiders of the company, including directors and officers, may participate in the offering. Any such participation will be considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company anticipates relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 as the company's securities are not listed on a specified market and the fair market value of the offering, insofar as it involves interested parties, will not exceed 25 per cent of the market capitalization of the company. The offering was approved by all independent directors of the company.

About Murchison Minerals Ltd.

Murchison is a Canadian-based exploration company focused on the exploration and development of the 100-per-cent-owned BMK zinc-copper-silver project in north-central Saskatchewan and on nickel-copper-cobalt exploration at the 100-per-cent-owned HPM project in Quebec.

We seek Safe Harbor.