Murchison Minerals : Corporate Presentation

Championing a Green Energy Revolution

through High-GradeCu-Ni-Co-Zn Projects in the

World's Best Mining Jurisdictions

TSXV: MUR | Corporate Presentation | September 2021

Cautionary Statements

The statements, maps and models in this presentation are based on information currently available to Murchison Minerals Ltd. (the "Company") and the Company provides no assurance that actual results will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "potential", "shall", "will" or "would". Forward-looking information contained in this presentation is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and mineral reserves, the realization of resource estimates and reserve estimates, metal prices, the timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Company's project in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the completion of the environmental assessment process and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not commence at the Company's project risks relating to variations in mineral resources, mineral reserves, grade or recovery rates resulting from current exploration and development activities, risks relating to changes in metal prices and the worldwide demand for and supply of base and precious metals, risks related to increased competition in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources and mineral reserves, access and supply risks, reliance on key personnel, operational risks inherent in

the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Company's project may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, and environmental risks. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Qualified Persons

Martin St-Pierre P.Geo., John Shmyr P.Geo. and François Bissonnette P.Geo., Independent Consultants, are the Qualified Persons as defined in NI 43-101 that reviewed and approved the technical information contained in this presentation.

357 KV Hydro Power Line Crosses Property

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Investment Highlights

Experienced management and board with proven success record. President and CEO sold Pangea Goldfields Inc. to Barrick Gold Corporation for CA$204 million in 2000 and arranged US$220 million in funding for the Kwale Mineral Sands project in Kenya.

Projects located in two of the best mining jurisdictions in the world, Saskatchewan and Quebec, surrounded by excellent infrastructure.

Murchison positions itself as a key mining player in the green energy revolution with projects that provide exposure

to critical minerals including Cobalt, Copper, Nickel, Silver, Graphite and Zinc.

The best assay at the HPM Project shows

high-grade drill intercepts including 1.74% Ni, 0.9% Cu and 0.09% Co over 43.2 m at Barre de Fer. Significant

tonnage potential also exists on the PYC target. The 139 km2 Project has numerous mineralized targets requiring follow-up.3,500 m drilling program is planned on the 1,700-m-longPYC target.

Brabant-McKenzie, located in a similar geological environment as the Flin Flon, Lalor Lake, Lyn Lake and Snow Lake deposits, is a high-gradeVMS deposit hosting an NI 43-101compliant Resource of 2.1 Mt @ 10% ZnEq (Indicated) and 7.6 Mt @ 6.3% ZnEq (Inferred). The project also has significant exploration upsides and remains open for expansion.

Huge land package in Saskatchewan covering an area of

626.9 km2 highly-prospective for VMS-type deposits and the potential to identify high-gradestrata-bound metasedimentary gold deposits resembling the Greywacke, North Lake and numerous other known gold deposits in the region.

The newly-acquired properties located in the Barraute- Landrienne mining camp in Quebec, only 2 km away from the

15.7 Mt Zn-AgAbcourt-Barvuedeposit, are believed to host some of the best untested geological/geophysical base- metal targets in the area. All the targets are drill-ready.

Murchison has a close and supportive relationship with local communities and governments.

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Murchison Minerals Asset Base & Share Structure

HPM Ni-Cu-Co Project in Quebec - 139 km2

• Best Drill Assay at Barre de Fer:
• • 43.18 m of 1.74% nickel, 0.90% copper and
    904 ppm cobalt (5.5% CuEq)
• Identified 54 EM conductors in a recent VTEM survey
• Sampling at PYC confirms the presence of Ni-Cu-Co over 1,700m strike, up to 59 m wide on surface
• 10 nickel-copper-cobalt gossan areas identified
• Excellent infrastructure, 8 km to railroad, about 225 km to the Port of Sept Iles
• 100% owned

Brabant-McKenzie VMS Project

• Resource Base
• • Inferred: 7.6 Mt @ 6.29% ZnEq(1)
  • Indicated: 2.1 Mt @ 9.98% ZnEq
• Entire property package covered by VTEM surveys
• Excellent established infrastructure
• 100% owned

Barraute-Landrienne Base Metals Project

• Option to earn 100% in 75 mineral claims
• Believed to host some of the best untested drill targets in the area
• 2 km away from the 15.7 Mt Zn-AgAbcourt-Barvue deposit

Share Structure as

of September 14, 2021

Share Price	CA$0.08
Shares O/S	108.9 M
Current Market	CA$8.7 M
Capitalization (1)	US$6.9 M
Working Capital	CA$0.3 M

HPM Ni-Cu-Co Project

Brabant-McKenzie VMS Project	Barraute-Landrienne
	Base Metals Project

1. The resource for the Brabant-McKenzie zinc deposit was estimated based on metal prices of US$1.20/lbzinc, $2.50/lb copper, $1.00/lb lead, $16.00/oz silver and $1200/oz/gold, and a US$ exchange rate of $1.25.

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Quebec HPM Ni-Cu-Co Project

Active Railroad

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