Murchison Minerals Ltd. announced exploration plans for 2023. The Company will commence with a diamond drill program at its 100%-owned Zn-Cu-Pb-Ag-Au Volcanogenic Massive Sulphide (VMS) BMK Project in Saskatchewan. The focus at BMK is aimed at the discovery of a copper-rich stockwork zone at the BMK deposit, and the potential discovery of additional VMS style deposits along the 37 km prospective BMK Trend.

The exploration program at BMK will kick off in mid-July and run through to September. The Company has decided to re-sequence the BMK project over its 100%-owned Ni-Cu-Co HPM project until this fall due to the ongoing wildfire situation affecting Quebec. Murchison intends to commence a drill campaign at the highly prospective BMK VMS project.

The project hosts the high-grade polymetallic massive sulphide Brabant-McKenzie deposit with a current NI 43-101 resource estimate of 2.1 Mt indicated at 0.69% Cu, 7.08% Zn, 0.49% Pb, 39.6 g/t Ag, 0.23 g/t Au and 7.6 Mt of inferred at 0.57% Cu, 4.46% Zn, 0.19% Pb, 18.42 g/t Ag, and 0.1 g/t Au. The deposit remains open along strike and at depth, and notably is missing a copper stockwork zone which is typical of high-grade VMS deposits -locating this zone is the primary objective of the 2023 exploration program. There are several notable areas on the periphery of the deposit that contain significant copper intercepts such as hole BM18-011 drilled in 2018 which intersected 9.77 meters at 1.12% Cu.

The Company believes these intersections in an area that remains open and untested are a good vector towards the copper rich stock works zone of the deposit. Recent reinterpretation of a 2017 Heli-SAM data (hybrid ground/airborne electromagnetic survey) has highlighted two target areas. The geophysical data suggests the deposit continues to significant depth past the current drill defined area.

The Heli-SAM data also highlights a prospective deep EM target 400 meters south of the deposit at approximately 700 meters depth. This target titled CST is considered highly prospective and is top priority for Murchison to drill test as it on the same horizon as the deposit. The large size and close proximity of the anomaly to the deposit which may indicate a copper stockwork zone or an additional lens of massive sulphide mineralization.

The Company will also be focusing its efforts at the T2T target which contains an isolated highly conductive and magnetic geophysical anomaly that remains unexplained. The T2T geophysical conductor was located during a 2018 ground EM survey and was tested with 1 hole in 2020 which did not intersect the conductor. Subsequent borehole EM survey interpretation has located a strong off-hole anomaly.

Relogging of the 2020 T2T drill core identifies the core to have similar stratigraphy to the BMK deposit as well containing VMS style alteration. Due to the strength and large size of the EM anomaly at T2T this target is considered highly prospective as it could contain a significant body of massive sulphide mineralization. Due to the recent and ongoing wildfire situation in Quebec, the Company has decided to re-sequence its exploration plans, commencing with BMK rather than HPM.

The high-grade Ni-Cu-Co HPM project will continue to be a priority for the Company with ongoing planning for a combined geophysics, prospecting, and diamond drilling program, slated to begin this fall. The exploration program at HPM will focus on de-risking of future drill targets through prospecting while the diamond drilling portion will look to expand the Barre de Fer Zone (BDF) while also evaluating the nickel-bearing sulphide showings along the BDF trend, including the Syrah target.