Murchison Minerals Announces Non-Brokered Private Placement

BURLINGTON, ON / ACCESSWIRE / December 14, 2023 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR)(OTCQB:MURMF) is pleased to announce that, subject to all regulatory approvals, it intends to raise up to $1,500,000 in a non-brokered private placement (the "Offering"), with the proceeds directed towards the Company's 2024 winter exploration activities at its 100%-owned BMK Zn-Cu-Ag project in Saskatchewan and working capital. .

Pursuant to the Offering, the Company will issue Hard Dollar units ("HD Units") at a price of $0.05 per HD Unit, and National flow-through units ("NFT Units") at a price of $0.055 per NFT Unit, in any combination to raise aggregate gross proceeds of up to $1,500,000.

Each HD Unit will be comprised of one common share of the Company (a "Common Share") and one-half of a common share purchase warrant (each whole warrant, a "Warrant") and NFT Unit will be comprised of one flow-through common share of the Company (a "FT Common Share") and one-half of a Warrant. Each whole Warrant shall be exercisable to acquire one additional Common Share at a price of $0.08 for a period of 24 months from the date of closing of the Offering.

A finder's fee may apply to a portion of the proceeds raised under the Offering in the amount of 6% cash and 6% finders' warrants. All securities issued pursuant to the Offering will be subject to a four month hold period from the date of issue.

It is anticipated that Donald K. Johnson, a director and control person of the Company will acquire a certain number of Units under the Offering to maintain his current ownership at around 30%. Any such participation will be considered a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). It is anticipated that the transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on a determination that the securities of the Company are listed on the TSXV and that the fair market value of the Offering, insofar as it involves interested parties, will not exceed $2,500,000 or 25% of the market capitalization of the Company. The Offering was approved by all independent directors of the Company.