Brunswick Exploration Provides Update on Ontario, Manitoba and Saskatchewan Projects

MONTREAL, Aug. 28, 2023 (GLOBE NEWSWIRE) — Brunswick Exploration Inc. (TSX-V: BRW; “BRW” or the “Company”) is pleased to provide an update on all 2023 exploration programs that were completed in the provinces of Ontario, Manitoba and Saskatchewan.

Mr. Killian Charles, President and CEO of BRW, commented: “All exploration programs were successful in rapidly testing multiple targets by prospecting, diamond drilling and stripping. Our teams visited the majority of the grassroot targets despite adverse conditions caused by worsening forest fires in Western Canada and the Northwest Territories, constraining the extent of our work. With the recently announced discovery at our Mirage Project and in tandem with the limited exploration success in Central and Western Canada, we have decided to pause all activities in Ontario, Manitoba and Saskatchewan in order to redeploy and refocus all efforts towards our James Bay area projects. We remind shareholders that, outside the successful Mirage Project, we have the Anatacau Project as well as 56 other untested grassroots properties in James Bay that all host pegmatites. We are very excited to begin this aggressive campaign of prospecting and exploration throughout the Eeyou Istchee-James Bay starting next month.”

Ontario

A 565 meter, 5-hole diamond drill program was completed in Hearst to determine the depth and strike extent of the lithium bearing Decoy pegmatite. Two scissor holes were drilled below the surface expression of the spodumene zone followed by by 25, 50 and 100 metre step-outs eastward and along strike. The Decoy Spodumene zone is interpreted as being a lens pinching out at depth with the pegmatite itself having a strike length not much larger than its surface expression of 65 metres as confirmed by drilling. Only Hole 23-Decoy-02 intersected the Decoy pegmatite, over 13.4 metres, but did not result in any significant lithium assays.

Located roughly 2 kilometers southwest of Decoy, stripping at Firefly and Mantis confirmed similar pXRF results to Decoy however no spodumene mineralization was identified. As more logging and roads are completed, access will greatly improve along with outcrop exposure and more prospecting can be conducted along the 8-Kilometer evolved corridor while evaluating additional historically mapped pegmatites and newly identified lidar targets throughout the package.

Saskatchewan

Teams were unable to locate the historically mapped spodumene occurrences in the Hanson Lake pegmatite field. Most of the dykes in the region yielded poor pXRF results and were proved to be unevolved overall. Consequently, a decision was made to terminate the option agreements with Searchlight Resources and Eagle Plains Resources in the Hanson Lake area.

Helicopter supported prospecting took place on many claims throughout Saskatchewan. Unfortunately, many of the historically mapped pegmatites turned out to be unevolved light granites or pegmatitic granites. Nonetheless, two lepidolite-bearing pegmatites (lithium mica) in the Reindeer Lake and La Ronge area were discovered. The Company will evaluate its next step for this new discovery in 2024.

Manitoba

Prospecting took place on all claims within the Trans-Hudson and Lynn Lake regions of Manitoba. All visited outcrops were either unevolved pegmatites, granites or pegmatitic granites. Nothing of significance was discovered.

Shift in exploration strategy

BRW will be putting all projects in Ontario, Manitoba and Saskatchewan on pause and assessing the next steps while refocusing all of our manpower and exploration efforts in the Eeyou Istchee-James Bay for the coming months. BRW’s strategy has been to generate and acquire targets that could be rapidly tested and discarded if initial results were not encouraging, so that efforts could be focused on the best assets. This efficient and cost-effective strategy remains ongoing and has resulted in several lithium discoveries within the James Bay Region.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. Charles Kodors, Manager Atlantic Canada. He is a Professional Geologist registered in Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, and Newfoundland.

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])

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

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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