Murchison Discovers Multiple New Mineralized Showings at HPM and Identifies Beep Mat Anomaly 120 m Along Strike to the Southwest of the BDF Zone

BURLINGTON, ON / ACCESSWIRE / October 5, 2022 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR)(OTCQB:MURMF) is pleased to announce the preliminary results of the prospecting Phase of the 2022 summer exploration program on the 100% - owned HPM (Haut-Plateau de la Manicouagan) Project, located in Quebec. The prospecting program successfully completed its two main objectives:

1. Locating and expanding areas of surface mineralization at previously identified zones and showings at HPM, de-risking areas for future exploration.
2. Discovering new regional showings of sulphide mineralization throughout the HPM project area.

For the regional prospecting program, due to the high number of identified EM anomalies (over 75), the Company focused prospecting mainly on those anomalies identified during the 2021 VTEM survey. This scope covered only a localized portion of the total 648 km² area that makes up the HPM project.

Highlights:

• Regional prospecting discovered numerous new showings of sulphide mineralization, outcropping and subcropping at surface including the newly titled target areas: Taureau, Loup, and Orignal.
• Intersected semi-massive sulphide mineralization at the Taureau showing (Figure 1).
• At Barre de Fer (BDF Zone), the strike length of the prospective airborne electromagnetic (EM) anomaly was expanded to approximately 600 m.
• Located disseminated sulphide mineralization, coincident with an adjacent Beep Mat anomaly, outcropping 120 m along strike to the southwest of the BDF Zone.
• Expanded surface sulphide mineralization at Syrah contiguously from 375 m to approximately 780 m through "beep mat" surveying and backpack drill sampling.

Murchison Minerals President and CEO Troy Boisjoli comments:

"The 2022 summer prospecting program at the HPM project did exactly what it set out to do: discover and de-risk new areas of sulphide mineralization for future exploration. The program has further demonstrated the district-scale nickel-bearing sulphide potential of HPM. As the world transitions away from fossil fuels, the discovery of Class I nickel, needed to produce batteries, becomes ever more critical. The 2022 program has just scratched the surface at HPM, and what we are finding has us very excited about exploring in an emerging nickel district in Canada."