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Brunswick Exploration Expands Lithium Portfolio in Quebec With New Properties in James Bay

Brunswick Exploration Expands Lithium Portfolio in Quebec With New Properties in James Bay

Brunswick Exploration Inc. (" BRW " or the " Company ") is pleased to announce that it has completed its acquisition of additional pegmatite fields in the James Bay region of Quebec. A total of approximately 810 claims, separated into 22 blocks and totaling 42,892 hectares, were staked and are collectively known as the James Bay Lithium Project. All claims are located within 45 kilometers of the James Bay road network.

The James Bay region is prolific for its hard rock lithium endowment, hosting numerous spodumene showings, four deposits with defined resources (Whabouchi (Nemaska Lithium), Rose (Critical Element), Cyr (Alkem) and Moblan (Sayona)), as well as more recent discoveries such as Corvette (Patriot Batteries Metal). The Company's James Bay land package includes approximately 65 large pegmatite dykes with strike lengths between 900 and 7,000 metres, as well as dozens of smaller dykes.

This brings the Company's inventory of large S-type pegmatite dykes in Quebec and the Atlantic Provinces to a total of 125, with some dyke fields in James Bay, New Brunswick and Nova Scotia being associated with anomalous lithium in tills, grab samples or lake bottom sediments. S-type pegmatites can potentially form a sub-class of evolved pegmatites (LCT-type), which are the hosts to economic lithium (spodumene) mineralization. Reconnaissance prospecting on this multi-provincial inventory of pegmatites has begun and will continue throughout the 2022 and 2023 field seasons.

Mr. Killian Charles, President of BRW, commented: "Our extensive compilation work continues to highlight new opportunities as we have now secured the largest grassroots lithium land package in Canada. These generated targets have very strong potential for lithium and include over 125 kilometric-scale pegmatites. Very few companies are continuously generating grassroots, regional scale, hard-rock lithium projects and I am confident that our systematic approach to exploration will lead to a significant discovery."

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. Robert Wares P.Geo, Chairman and CEO of Brunswick Exploration Incorporated. He is a Profession Geologist registered in Quebec.

About Brunswick Exploration

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

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.


Investor Relations/information Mr. Killian Charles, President (info@BRWexplo.com)

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Brunswick Exploration Inc. Invites Shareholders and Investment Community to Visit Us at Booth 405 at the VRIC in Vancouver, January 29-30 2023

Brunswick Exploration Inc. Invites Shareholders and Investment Community to Visit Us at Booth 405 at the VRIC in Vancouver, January 29-30 2023

Brunswick Exploration Inc. (TSXV: BRW) would like to cordially invite you to visit us at Booth #405 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 29 - Monday January 30, 2023.

Notable keynote speakers include former Premier of BC Christy Clark and former Premier of Saskatchewan, Brad Wall. Other keynote speakers will include dozens of globally respected economists, legendary money managers, and investors.

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Drilling at Clayton Valley, Nevada (Fig. 1)

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Highlights of the Updated Resource Estimate
  • An increase of 190% in Measured and Indicated ("M&I") lithium carbonate equivalent ("LCE") Resources from the August 2021 Mineral Resource Estimate.
    • M&I Resources increased to 5.17 million tonnes ("Mt") LCE (1, 034 Mt at 941 parts per million lithium ("ppm Li")) at a 400 ppm Li cut-off grade.
  • Substantial Inferred Resources remain from the 2022 Phase VI drill program.
    • Inferred Resources are 1.09 Mt LCE ( 235 Mt at 871 ppm Li) at a 400 ppm Li cut-off grade.
  • Near Surface = Low Strip Ratio. The majority of the deposit occurs at or near the surface, resulting in relatively low mining costs. Results from the Preliminary Economic Study ("PEA") 1 indicate that the life of mine strip ratio would be ~0.07:1 (waste:ore).
  • High level of confidence in the deposit modelled given the density of the drill program with 82 holes drilled to-date. All holes were core holes for more precise sampling and stratigraphic correlations.
  • High grade core (60 meters thick x 1.2 kilometers wide x 3.0 kilometers long) represents an opportunity for optimizing the mine plan. At a 1,200 ppm Li cut-off the Measured and Indicated Resources total 1.2 Mt LCE (169 Mt at 1,326 ppm Li).

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Highlights of the Updated Resource Estimate

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Mr. Killian Charles, President and CEO of BRW, commented: "The Hanson Lake Project confirms the potential for hard-rock lithium deposits in Saskatchewan and this addition to our portfolio strengthens the Company's presence in Western Canada. In Saskatchewan alone, with the addition of this project, we have now acquired over 180 outcropping S-type pegmatites that are minimum 500 meters in strike length, all of which have seen minimal or no exploration work. Detailed prospecting and trenching will commence in Q2 of this year to systemically evaluate the Hanson Lake Project and rapidly advance the known spodumene-bearing pegmatites towards the drill stage."

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