Murchison Minerals Commences Summer Exploration Program at HPM Nickel-Copper-Cobalt Project - Seite 2

HPM Geophysical Survey

Discovery Geophysics out of Saskatoon, Saskatchewan is contracted to complete a ground EM survey over key areas on the highly prospective BDF trend. The survey will utilize a low temperature (liquid helium cooled) super conductor technology called Jessy Deep SQUID. The Jessy Deep SQUID system is considered to be the most sensitive currently in use and Discovery Geophysics has exclusive rights to the technology in North America. This type of EM system is an ideal survey type to identify so called "super conductors" which are electromagnetic anomalies that are too conductive to be effectively measured and identified by airborne EM systems. This super conductive phenomenon is typical in many of the worlds magmatic nickel mining camps such as Voisey's Bay or Sudbury. The recent geophysical modelling at the BDF zone from borehole EM data demonstrates that this zone is indeed super conductive such as last year's intercept in hole two which intercepted 121.2 metres of 1.02% Ni, 0.56% Cu, and 0.07% Co (BDF22-002, see release dated November 29, 2022). Murchison strongly suspects a similar super conductor is being observed at the Syrah target and this geophysical survey will be critical for drill targeting.

Murchison Minerals' CEO, President, & Director Troy Boisjoli comments:

"With the recent turmoil in Niger causing uncertainty in the uranium supply it's a reminder as to why the western world needs to discover and develop its own supplies of critical and strategic minerals. At Murchison's HPM Project in Quebec we've identified the high-grade Ni-Cu-Co BDF Zone, and the 5 km long BDF trend that hosts numerous mineralized showings. It's a property with a substantial metal endowment that has true camp scale potential. Additionally, there is advanced infrastructure such as heavy rail and hydro power within kilometres of the project site, lowering the hurdle rate for any future development. In the context of worldwide projected nickel and copper supply deficits appearing quickly on the horizon, and the need for stable supplies within North America, the HPM Project is one of only a few nickel sulphide projects that can help fill that gap."