Murchison Minerals Confirms Extensive High-Grade Nickel Sulphide Mineralization at the HPM Property with Assays Returning 121.2 metre Interval at 1.36% NiEq. (or 4.07% CuEq.) – Including 21.0 metre at 3.21% NiEq. (or 9.59% CuEq.)

BURLINGTON, ON / ACCESSWIRE / November 29, 2022 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR)(OTCQB:MURMF) is pleased to announce assay results from BDF22-002, the second diamond drillhole completed at the Barre de Fer ("BDF") zone, as part of the 2022 Summer Exploration Program on the 100% - owned HPM (Haut-Plateau de la Manicouagan) Project, located in Quebec. The results demonstrate the near-surface, high-grade nature of Barre de Fer and the potential for future expansion of the zone. In advance of the maiden resource, slated to be released in Q1 of 2023, the Company will continue to release assay results from the summer drill program as they become available.

BDF22-002 Highlights

• The hole was drilled to a depth of 452 m and intersected two broad zones of Ni-Cu-Co sulphide bearing mineralization totalling 175.15 m of composite thickness (Table 1) including:
• 121.20 m grading 1.36% NiEq. or 4.07% CuEq. (123.80 to 245.0 m)
  • Including 10.10 m at 2.78% NiEq. or 8.31% CuEq. (134.1 to 144.20 m)
  • Including 21.00 m at 3.21% NiEq. or 9.59% CuEq. (152.5 to 173.5 m)
  • Including 10.50 m at 1.76% NiEq. or 5.27% CuEq. (207.5 to 218.0 m)
• Best drillhole intersection to date on the HPM Property, drilled 120 m along strike to the north of HPM-08-003, the previous best hole which intersected 52.15 m grading 2.04% NiEq. (1.52% Ni, 0.79% Cu, 0.08% Co starting at 74.45m)
• The hole successfully confirmed mineralization approximately 85 m downdip from DH-151-02 and approximately 55 m up dip of DH-151-05EX
• The bulk of the mineralization was intersected outside of the previously modelled zone (Figure 1 & 2)
• Results continue to show a strong correlation between previously released pXRF results and lab assays (Table 2)

Table 1: BDF22-002 Assay Results

* Reported as core length, true thickness is not known. **Nickel Equivalent (NiEq.) & Copper Equivalent (CuEq.) values were calculated using the following USD metal prices from Sept 12, 2022: $10.84/lb Nickel, $3.63/lb Copper, and $23.56/lb Cobalt.

Table 2: BDF22-002 NiEq. pXRF Comparison to Lab Assay Results

* Reported as core length, true thickness is not known. **Nickel Equivalent (NiEq.) & Copper Equivalent (CuEq.) values were calculated using the following USD metal prices from Sept 12, 2022: $10.84/lb Nickel, $3.63/lb Copper, and $23.56/lb Cobalt. NiEq.% was calculated using Ni%+((Cu Price/Ni Price) *Cu %)+((Co Price/Ni Price) *Co %). CuEq.% was calculated using Cu%+((Ni Price/Cu Price)* Ni %)+((Co Price/Cu Price)*Co %).

Figure 1: Location map of Barre de Fer, showing drillhole BDF22-002 & BDF22-001

Figure 2: Barre de Fer Zone Cross-Section. A) Displays Preliminary Nickel Mineralization Model (April 2022) and pXRF results from BDF22-002. B) Displays Preliminary Nickel Mineralization Post 2022 Summer Exploration program with assay results from BDF22-002

Murchison Minerals President and CEO Troy Boisjoli comments:

"Today's results speak for themselves, BDF22-002 is one of the top nickel-sulphide intersections made at a pre-resource project globally over the last several years. These results demonstrate the significance of the BDF Zone and overall potential of the HPM Project, which is a clearly one of the few new emerging nickel-sulphide districts globally. Our HPM Project is developing at a time when worldwide nickel demand is slated to increase significantly over the coming years. The opportunity is compounded for Murchison by the fact there is significant pre-existing infrastructure like a maintained highway, rail, and available hydropower all within kilometers of our site. Those fundamentals, along with the fact the Government of Quebec is implementing a vertically integrated critical minerals strategy have us very excited about the future."

Murchison Minerals Vice-President of Exploration John Shmyr comments:

"The scale of mineralization observed in BDF22-002 is exceptional and confirms BDF is part of a major magmatic nickel sulphide mineralizing system. The results from BDF22-002 are significant milestone for the Company and demonstrate that we are only scratching the surface of the exploration potential at the HPM property. The team is eagerly progressing on the maiden resource at the BDF Zone, and today's results will be a substantial contributor to that initial resource estimate."

BDF22-002 Mineralization

The mineralization observed in BDF22-002 occurs within two separate zones. The upper zone comprises multi-metre intervals of massive and breccia sulphide within zones of stringer and disseminated sulphide mineralization hosted in peridotite and gabbronorite (Figure 3 & 4).

The lower zone of mineralization (303.55 m to 357.50 m) comprises primarily disseminated sulphide, over a broad 53.95m wide zone hosted within a gabbronorite.

The sulphide mineralization consists of pyrrhotite with granular pentlandite and chalcopyrite loops with pentlandite. The massive sulphide mineralization is predominantly hosted in a dark, moderately serpentinized peridotite and lesser olivine gabbronorites and a dark, fine grained norite. The primary magmatic sulphide mineral textures coupled with the development of disseminated sulphide mineralization and magmatic breccias indicate that the mineralization is similar to chonolith style deposits like Voisey's Bay. Work progresses to define the stratigraphic controls of the intrusive rocks on the distribution of massive, breccia, and disseminated sulphide types; these controls will guide future exploration in the extension and discovery of additional mineral zone along strike and at depth.

Table 3: 2022 Drill Campaign Assay Results to Date

Hole	 	From (m)	To (m)	Length* (m)	Ni %	Cu %	Co %	NiEq. %**	CuEq. %**
BDF22-001		89.95	108	18.05	1.44	0.44	0.10	1.86	5.00
	Includes	96.5	108	11.5	1.98	0.56	0.13	2.53	6.80
	Includes	97.8	105.9	8.1	2.69	0.69	0.18	3.41	9.16
		122	132.85	10.85	0.29	0.24	0.03	0.44	1.18
		180.5	189	8.5	0.62	0.37	0.05	0.88	2.36
		196.5	219.2	22.7	0.23	0.11	0.02	0.32	0.85
		267	336.9	69.9	0.50	0.23	0.04	0.68	1.83
	Includes	283.4	299.5	16.1	0.92	0.43	0.07	1.26	3.38
BDF22-002		123.8	245	121.2	1.02	0.56	0.07	1.36	4.07
	Includes	134.1	144.2	10.1	2.08	1.17	0.14	2.78	8.31
	Includes	152	196	44	1.58	0.71	0.11	2.05	6.14
	Including	152	180.8	28.8	2.21	0.99	0.15	2.86	8.55
	Including	152.5	173.5	21	2.45	1.22	0.16	3.21	9.59
	Including	177.05	180.8	3.75	With webdisclosure.com, you can follow all the latest financial news in real time from the best sources for companies listed on the Paris, Brussels, Amsterdam, Lisbon, Frankfurt and New York stock exchanges. You'll have access to summary articles written by us and press releases published by the companies themselves. ©Dissemination technology Webdisclosure.com - copyright 2025 SYMEX ECONOMICS all rights reserved 87, rue Ordener - 75018 Paris Contact us +33 1 42 23 83 61