Murchison Minerals Ltd. announce assay results from BDF22- 001, the first 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 First Quarter of 2023, the Company will continue to release assay results from the summer drill program, as they become available.

The hole, was drilled to a depth of 404 m, intersected three broad zones of Ni-Cu-Co sulphide bearing mineralization totaling 130 m of composite thickness including: 18.05 m estimated at 1.86% NiEq. or 5.0% CuEq. (89.95 to 108.0 m), including 8.1 m at 3.41% NiEq.

or 9.16% CuEq. 69.90 m estimated at 0.68% NiEq. or 1.83% CuEq.

(267.0 to 336.90 m) including 16.1 m at 1.26% NiEq. or 3.38% CuEq. The hole successfully expanded mineralization outside of the preliminary model, down dip of drillhole DH-2006 Results show a strong correlation between previously released pXRF results and lab assays.

Based on all available assay data the Company has received, the nickel equivalent correlation between pXRF results and lab assays is expected to remain robust for pending assays During the 2022 summer exploration program at HPM (Haut-Plateau de la Manicouagan) Project in Quebec, a total of thirteen (13) diamond drillholes were completed, comprising 4,316 metres. This includes ten (10) drillholes at BDF, and an additional three (3) holes at Syrah. The pXRF results for the ten holes drilled at BDF were previously released and lab assays are pending for the remaining holes.

The DRS process allowed the Company to produce near laboratory quality results in the field. In turn, this process enabled the Company to model zones of mineralization in real time, creating a dynamic exploration process which was unaffected by laboratory delays faced by many industry peers. The mineralization observed in BDF22-001 occurs within three separate zones.

The upper intersection consists of multi-metre massive sulphide mineralization. Subsequent zones of mineralization occur primarily as disseminated and stringer vein sulphides, over broad zones (tens of metres) with intermittent and localized zones of semi-massive to massive sulphide which range in scale from decimetre to metre. The sulphide mineralization consists of pyrrhotite with observable pentlandite and chalcopyrite (Figure 4).

The mineralization is variably hosted in a dark moderately serpentinized peridotite, olivine gabbronorites as well as a dark fine grained norite.