Brunswick Exploration Announces Restart of Exploration at Mirage Project

MONTREAL, July 26, 2023 (GLOBE NEWSWIRE) — Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; “BRW” or the “Company”) is pleased to announce that, due to improving conditions in the Eastern half of the Eeyou Istchee-James Bay region of Quebec, prospecting has restarted at the Mirage Project. The area was not impacted by forest fires and all equipment on site was undamaged. Access remains restricted to the rest of the Company’s portfolio in the James Bay, however visual inspection confirms that BRW’s camps are largely untouched with only the PLEX camp suffering minimal damage.

Mr. Killian Charles, President and CEO of BRW, commented: “The Mirage Project is among our most exciting targets and a core focus of Brunswick Exploration. The restart of exploration will initially focus on finding the source of the abundant angular, spodumene-mineralized boulders first identified in June. Compilation work has highlighted multiple possible sources across the project which will be field checked with teams onsite. Furthermore, permit application for drilling at Mirage is underway and we are well-positioned to begin drilling in late Q3.”

Mirage Project Overview

Over twenty plurimetric spodumene-bearing pegmatite boulders in a band over an up-ice strike length of 1.7 km have been identified to date. All boulders observed host well-defined, large (up to 50cm) light grey spodumene crystals with mineralization varying between 5 and 50% of the pegmatite. Boulders are sub-angular to sub-rounded. Gangue mineralization is typical of LCT-type pegmatites and consists of coarse-grained quartz, rubidium-rich feldspars and muscovite with minor amounts of tourmaline and fluorite.

While the source has not yet been identified, based on the angular shape of boulders, their large size and abundant distribution, the source is interpreted to be close and within the Project boundary. The largest boulder identified to date measures over 6 metres by 6 metres by 5 metres. No exploration work for lithium has previously been conducted in the area, and the Mirage claim group stretches up-ice for 18 km from the boulder field.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. François Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V 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 with holdings in Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick and Nova Scotia.

Investor Relations/information

Mr. Killian Charles, President and CEO ([email protected])

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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