Churchill Resources Inc. announced that it has completed a National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") technical report on the Taylor Brook Project (the "Report") that is highly encouraging for high grade nickel discoveries throughout the Layden Intrusive Trend and into the adjacent Taylor Brook Gabbro Complex ("TBGC"). Layden Intrusive Trend: Models as a single contiguous highly magnetic body at depths below -400m, extends over 10km, and contains multiple targets; is anchored to the southeast by the Taylor Brook Gabbro (Southobe), which is both highly magnetic, coincidentally the highest gravity signature in Western Newfoundland and located on the craton margin; to the northwest, outcrops at the high-grade nickel discovery at the Layden showing; and given the similar relative ages of the Layden and Taylor Brook gabbroic intrusions, suggesting a relationship between the two. Whilst this relationship needs further definition through sampling, the Siluro-Devonian age of all the gabbroic intrusives, and recognition that the Layden rocks are not Grenvillian, is hugely important to understanding the emplacement history of these intrusions.

If a magmatic nickel deposit or camp is present in Western Newfoundland, the Taylor Brook Project is a most likely spot, and all exploration data derived by Churchill continue to reinforce this model. The Report recommends a 2023 exploration program that prioritizes work along the Layden Intrusive trend into the large adjacent Taylor Brook Gabbro complex, as well as deeper geophysical and drilling work at the Layden Gabbronorite where shallow high-grade intersections of up to 4.44m of 2.79% Ni, 0.54% Cu, 0.05% Co were drilled in 2022. Key conclusions from the Report include: Churchill's drilling and mapping indicate that the Layden Gabbron orite extends over an area of at least 200m x 400m x 300m deep, with deformation primarily exhibited as tight isoclinal folding inclined ~60 degrees to the east, i.e., towards the Taylor Brook Gabbro Complex.

Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Company's properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company's properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the likelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described in the most recently filed management's's's's management's's's management's's management's management's's management's current and development (including: The Report was authored by Dr. Derek Wilton, P.Geo., of Terra Rosetta Inc.