Brunswick Exploration Announces Closing of Private Placements for Aggregate Proceeds of $3.34 Million

Brunswick Exploration Inc. ("Brunswick" or the "Corporation") (TSX-V: BRW) is pleased to announce that it has closed its previously announced non-brokered private placements for aggregate gross proceeds of $3,342,695, consisting of the issuance of (i) 6,142,401 units of the Corporation (each, a "Unit") at a price of $0.175 per Unit, for gross proceeds of $1,075,170 and (ii) 11,337,625 Canadian flow-through shares of the Corporation (the "FT Shares"), at a price of $0.20 per FT Share, for gross proceeds of $2,267,525 (collectively, the "Offerings").

Each Unit consists of one common share of the Corporation (each, a "Common Share") and one-half of one common share purchase warrant of the Corporation (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.23 for a 24-month period following the closing date of the Offerings.

The net proceeds from the Offerings are expected to be used by the Corporation for the exploration of the Quebec, New Brunswick and Nova Scotia properties, as well as general corporate purposes.

In connection to this Offerings, the Corporation paid cash finders fees of $41,726.

The Insiders' participation for $105,000 is exempt from the formal valuation and minority shareholder approval requirements provided under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101") in accordance with sections 5.5(a) and 5.7(1)(a) of Regulation 61-101. The exemption is based on the fact that neither the fair market value of the private placements, nor the consideration paid by such Insiders exceeds 25% of the market capitalization of Brunswick.

The Offerings were carried out pursuant to prospectus exemptions of applicable securities laws and are subject to final acceptance by the TSX Venture Exchange. All securities issuable pursuant to the Offerings are subject to a statutory 4-month hold period expiring on September 18, 2022 and September 21, 2022 in accordance with applicable securities legislation.

As a result of the Offerings, 148,861,738 common shares of the Corporation are issued and outstanding.

About Brunswick

The Corporation is a Montreal-based mineral exploration venture listed on the TSX Venture Exchange under symbol BRW. The Corporation is focused on grassroot exploration for metals necessary to decarbonization and energy transition with a particular focus on lithium, tin, nickel and copper. The Corporation is focused on rapidly advancing the most extensive grassroot lithium exploration claim package in Eastern Canada.

Investor Relations/information:

Mr. Killian Charles, President
Telephone: (514) 861-4441
kcharles@brwexplo.ca

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. Any information contained herein that is not based on historical facts may be deemed to constitute forward looking information within the meaning of Canadian securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Forward-looking information may include, but is not limited to: the intended use of proceeds of the Offerings and the receipt of final approval from the TSX Venture Exchange. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided.

Although the Corporation believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Corporation and no assurance can be given that such events will occur in the disclosed time frames or at all. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: the decision by management of the Corporation to utilize the proceeds of the Offerings in a different manner than described herein; and changing global financial conditions, especially in light of the COVID-19 global pandemic; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com.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 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.

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