Brunswick Exploration Expands Its Exceptional Grassroot Portfolio Across Quebec, Canada and Greenland

MONTREAL, March 26, 2024 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (“BRW” or the “Company”) is pleased to announce that, pursuant to its aggressive and innovative grassroot exploration campaign which led to three new discoveries including the flagship Mirage Project, it has expanded its portfolio of targets and map-staked over 215 outcropping, mapped and/or interpreted, untested S-type pegmatites, measuring between 500 and 8,800 metres in strike length. These new targets are located in areas that have seen minimal or no current lithium exploration in Quebec, Labrador and, for the first time, Greenland. The newly acquired pegmatites were identified following extensive compilation work by BRW and most are located near existing roads, power infrastructure and/or tidal water.

Mr. Killian Charles, President and CEO of BRW, commented: “Over the last 24 months, we have built one of the strongest lithium grassroot exploration strategies globally. Concurrent to our plans to rapidly advance the Mirage project in Quebec, where we excitedly await to release our first results next month from the winter campaign, we will continue to leverage our unique expertise and acquire domestic and global opportunities that combine sound fundamentals with high-quality targets. Our cost-effective grassroot strategy provides our shareholders maximum exposure to this generational lithium exploration boom and we are delighted to kick-start these initiatives in Q3 2024, with the goal of making significant discoveries to feed both North American and European markets.”

Quebec

James Bay

The new area of interest comprises 538 claim units with a total surface area of 26,642 hectares, located roughly northwest of lake Canipiscau and northeast of the Mirage Project. The new claims contain multiple mafic belts that have a rough strike length of 12-20 kilometers with multiple documented pegmatites. Seven historic pegmatite outcrops are mapped on the property with biotite and/or muscovite. This area has seen little to no exploration for lithium.

Nunavik

The Project comprises 511 claim units with a total surface area of 23,519 hectares and most claims are located roughly 20-90 kilometers from the community of Kuujjuaq and are close to tide water. Compilation work has identified a minimum of 64 mapped pegmatites that are roughly 500 to 2,900 metres in strike length. Pegmatites were staked based on preferred geologic environments, historical geochemistry and historical mapping. Importantly, they have seen little to no exploration focused on lithium even documented lithium showings exists.

Labrador

South East Labrador

The company has staked 55 licenses with a total surface area of 7,051 hectares, located near and in between the areas of Cartwright, Port Hope Simpson and the intersection of highway 510 and 516, in southeast Labrador. Labrador has a very strong mining history and currently hosts large scale mining operations in the Wabush, Voisey’s Bay and Schefferville areas. Numerous pegmatite occurrences contain beryl and/or tourmaline among other indicator minerals, highlighting the potential for evolved LCT pegmatites and lithium mineralization. To date, the licenses cover 19 pegmatites measuring between roughly 500 and 2,000 meters in strike length.

Greenland – Pushing the Envelope for Lithium Exploration

Having strong ties to Europe via Denmark and recently the focus of European Union delegation which highlighted the critical mineral potential of the autonomous country within the Kingdon of Denmark, Greenland has outstanding outcrop exposure (Figure 1 and 2), allowing for efficient and effective helicopter-supported prospecting. Pegmatites were staked based on preferred geologic environments, historical geochemistry, satellite imagery and historical mapping. Importantly, there has been little to no exploration for lithium in the country while having significant potential for new discoveries and containing all key geological grassroot indicators utilized by the BRW exploration team. The license areas are near communities and tidal water and there is a deep-sea port in Nuuk.

Licenses have been applied for by a third party and are awaiting approval from the Government of Greenland. Brunswick Exploration wishes to thank Xploration Services Greenland A/S for their assistance in the application.

Nuuk

The Project contains one proposed mineral exploration license, containing five blocks, with a total surface area of 49,562 hectares, located between 10 and 90 kilometres from the capital of Greenland, Nuuk. The Project contains 92 mapped and interpreted pegmatites that are between 500 and 8,800 meters in strike length. The area contains beryl and tourmaline occurrences as well as a historic pegmatite grab sample containing up to 3,700 ppm Rb and a K/Rb ratio of 9.5 already indicating the potential for very evolved pegmatites.

Figure 1: Significant Outcropping Pegmatites Around Nuuk

Paamiut

The project contains one proposed mineral exploration license, containing five blocks, with a total surface area of 15,141 hectares, located between 20 and 70 kilometres from the community of Paamiut. The properties contain 41 mapped and interpreted pegmatites that are between 500 and 4,400 meters in strike length.

Figure 2: Significant Outcropping Pegmatites Around Paamiut

Qualified Person

The scientific and technical information related to Quebec has been reviewed and approved by Mr. Francois Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec.

The scientific and technical information related to Labrador and Greenland has been reviewed and approved by Mr. Charles Kodors, Manager Atlantic Canada. He is a Profession Geologist registered in New Brunswick, Nova Scotia, Newfoundland, Quebec, Ontario, Manitoba and Saskatchewan.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing one of the extensive grassroots lithium property portfolios in Canada and Greenland.

Investor Relations/information

Mr. Killian Charles, President and CEO ([email protected])

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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