Murchison Minerals Intersects High Grade Copper-Zinc Mineralizaton 10 Kilometres Southwest of Brabant-Mckenzie Deposit

TORONTO, ON / ACCESSWIRE / March 31, 2020 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) is pleased to announce that exploration drilling on the Brabant Lake property has intersected high grade copper-zinc mineralization 10 km southwest of the Brabant-Mckenzie VMS Deposit.

The discovery is at the prospective Main Lake target, interpreted to be on the same geologic horizon as the Brabant-Mckenzie VMS Deposit. The drill hole ML-20-004 is located 270 metres northeast of the historic high grade Main Lake showing which was resampled in the summer of 2019.

The mineralization found in diamond drill hole ML-20-004 consists of a copper rich upper zone and a zinc rich lower zone. The Upper zone was intersected over an interval of 3.59 metres (139.65-143.24) with 0.83% Cu, 0.61% Zn and 11.8 g/t Ag. The Lower zone was intersected between 169.80 and 176.42 metres (6.62 metres) returning 0.09% Cu, 1.62% Zn and 41 g/t Ag over the entire interval including 1.02 metres at 5.08% Zn and 0.22 metre at 9.77% Zn. There are several high silver intercepts in this zone as well, the highest of which was 81.2 g/t Ag over 0.82 metre (169.80-170.62 metres).

"This new discovery at the Brabant project further indicates its potential to be an up and coming new VMS mining camp"- Mr. Jean-Charles Potvin, President and CEO Murchison Minerals.

This new discovery was made following up on the anomalies identified during the 2019 airborne electromagnetic survey. This conductor is on strike with the historical high grade copper/zinc/silver at the Main Lake showing. Drill holes ML-20-001, ML-20-002 and ML-20-003 discovered weak copper and zinc mineralization but extensive VMS style alteration observed as abundant inferred anthophyllite and garnet. An offhole borehole electromagnetic anomaly was observed in hole ML-20-001 which was followed up by drilling ML-20-004 leading to the discovery. The discovery remains open in all directions and requires additional drilling. Mineralization consists of disseminated and fracture filling chalcopyrite with zinc mineralization as disseminated sphalerite and gahnite within a pyrrhotite dominant massive sulphide.

Sphalerite and Pyrrhotite mineralization in ML-20-004.

The winter 2020 drill program was originally designed to test 12 high priority drill targets but due to an unseasonably warm winter and inadequate ice conditions, the decision was made to forego drilling any targets requiring ice road access. Of the 12 targets, 5 were ultimately tested with 11 drill holes totalling 2,618 metres. Two holes were drilled at Brabant McKenzie South and significant zinc mineralization was noted in drill hole BMS-20-002 (1.49% Zn over 1.43 metres). The TOM2 and T2T targets were each tested by 1 drill hole which did not intersect any economically significant mineralization. Graphite and pyrrhotite were present in both TOM2 and T2T but do not adequately explain the strong geophysical signature and both areas require further work. The Main Lake West target was tested by 3 drill holes with copper mineralization noted in drill holes MLW-20-001, MLW-20-002 and MLW-20-003 (0.23% Cu over 6.0 metres, 0.08% Cu over 5.53 metres and 0.26% Cu over 2.03 metres, respectively). Drill results at Main Lake West are encouraging and will require future investigation.

Drill core samples were sent to the Saskatchewan Research Council (SRC) Geoanalytical Laboratories in Saskatoon for analysis. Analysis utilized SRC's Base Metal Exploration Package (ICP3) which uses an aqua regia partial digestion and analyzes for 35 elements using ICP-OES. Samples with apparent Gahnite present utilized the Multi-Element Exploration Package (ICP4) which uses a total digest and analyzes for 47 elements using ICP-OES. Gold was analyzed by Fire Assay (AU1, 15g) with an ICP-OES/AAS finish. Murchison Minerals applied industry-standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates were inserted in all drill core shipments to the laboratory.

Qualifying Statement

The foregoing scientific and technical disclosures have been reviewed by Andrew Masurat, P. Geo. and Martin St-Pierre, P. Geoph., qualified persons as defined by National Instrument 43-101. Mr. Masurat and Mr. St-Pierre are independent consultants to Murchison and the Brabant-McKenzie project.

Mineral Resource Summary for Brabant-McKenzie VMS Deposit

The above mineral resource estimate for the Brabant-McKenzie VMS Deposit was prepared by independent qualified person ("QP") Finley Bakker, P.Geo., and has an effective date of September 4, 2018. The NI43-101 Technical Report named Technical Report on the Resource Estimate Update for the Brabant-McKenzie Property, Brabant Lake, Saskatchewan is available on the Company's website and on SEDAR.

About the Brabant‐McKenzie Project:

The Brabant‐McKenzie project is located 175 kilometres northeast of La Ronge, Saskatchewan and approximately three kilometres from the community of Brabant Lake. The area is accessed year‐round via provincial Highway 102 and is serviced by grid power. The project consists of one mining lease, which hosts the Brabant‐McKenzie VMS deposit, and additional mineral claims totalling 566 square kilometres, which cover approximately 57 kilometres of strike length over favourable geological horizons, multiple known mineralized showings and identified geophysical conductors.

In addition, the Company has engaged Lakeshore Securities ("Lakeshore") to provide services as a market maker, in accordance with TSX Venture Exchange Policy 3.4. Lakeshore has been engaged for an initial term of three months, with a fee starting at $3,000 per month. No stock options are being granted in connection with the engagement.

About Murchison Minerals Ltd. (TSXV: MUR)

Murchison is a Canadian‐based exploration company focused on the exploration and development of the 100% owned Brabant‐McKenzie zinc‐copper‐silver project in north‐central Saskatchewan. The Company also has a 100% interest in the HPM nickel‐copper‐cobalt project in Quebec. Murchison has 64.7 million shares issued and outstanding.

Additional information about Murchison and its exploration projects can be found on the Company's website at www.murchisonminerals.com. For further information, please contact:

Jean‐Charles (JC) Potvin, President and CEO or Erik H Martin, CFO
Tel: (416) 350‐3776
[email protected]

Forward‐Looking Information

Certain information set forth in this news release may contain forward‐looking information that involves substantial known and unknown risks and uncertainties. This forward‐looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward‐looking information. The parties undertake no obligation to update forward‐looking information except as otherwise may be required by applicable securities law.

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.

SOURCE: Murchison Minerals Ltd.