Murchison Minerals Ltd. announced a non-brokered private placement of Hard Dollar units at an issue price of CAD 0.06 per HD unit and Quebec flow-through units at a price of CAD 0.07 per QFT unit and National flow-through units at a price of CAD 0.065 per NFT unit for aggregate gross proceeds of CAD 1,500,000 on July 11, 2023. Each HD unit will consist of one common share and one half of common share purchase warrant and each QFT unit and and NFT unit comprises of one flow-through common share and one half of a warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of CAD0.10 for a period of 24 months from the date of closing.

The company anticipates that returning individual investor, Donald K. Johnson will participate in the transaction to maintain his current ownership at around 30%. The company may pay 6% of the gross proceeds and 6% finders' warrants as finder's fees. All securities issued in the transaction have a hold period of four month from the date of issuance.

The transaction is subject to all regulatory approvals. The transaction has been approved by all independent directors of the company.