Brunswick Exploration Identifies Major Spodumene-Bearing Pegmatite Boulder Field at the Mirage Project

Brunswick Exploration Identifies Major Spodumene-Bearing Pegmatite Boulder Field at the Mirage Project

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; " BRW " or the " Company ") is pleased to announce that it has identified a major trend of large spodumene-bearing pegmatite boulders over 1.7km of strike length at the Mirage Project in the James Bay-Eeyou Istchee region of Quebec. The Mirage Project is located approximately 105 km east of Patriot Battery Metals' Corvette Lithium Project and 34 km northeast of Winsome Resources' Adina Project.

Mr. Killian Charles, President and CEO of BRW, commented: "With the positive identification of over twenty large spodumene-bearing boulders, the Mirage Project is now a top priority for the Company. The field crew is eager to return as soon as the government-imposed fire restrictions are lifted. I am particularly excited that prospecting rapidly uncovered such large, well mineralized boulders with pale grey spodumene crystals as the Project remains unexplored for lithium. BRW will immediately apply for drill permits with the objective of drilling as rapidly as possible in Q3 once the source(s) of the boulders has been identified."

The follow-up field work for spodumene-mineralized boulders, first identified by a geologist nearly 25 years ago (see press release dated January 24, 2023), confirmed the presence of over twenty plurimetric spodumene-bearing pegmatite boulders in a band over an up-ice strike length of 1.7 km. All boulders observed host well-defined, large (up to 50cm) light grey spodumene crystals with mineralization varying between 5 and 50% of the pegmatite (see Figure 1). Boulders are sub-angular to sub-rounded (see Figure 2). Gangue mineralization is typical of LCT-type pegmatites and consists of coarse-grained quartz, rubidium-rich feldspars and muscovite with minor amounts of tourmaline and fluorite.

While the source has not yet been identified, based on the angular shape of boulders, their large size and abundant distribution, the source is interpreted to be close and within the Project boundary. The largest boulder identified to date measures over 6 metres by 6 metres by 5 metres (see Figure 3). No exploration work for lithium has previously been conducted in the area, and the Mirage claim group stretches up-ice for 18 km from the boulder field.

Next Steps

The discovery was made in two field days before government-imposed restrictions due to forest fires forced the BRW field teams to evacuate the James Bay-Eeyou Istchee region. Once restrictions are lifted, BRW will immediately dispatch its team to continue to advance the project towards the drilling stage. The full strike extent of the boulder field remains undefined with potential for more spodumene-bearing boulders (and their source) to the northeast. Based on these exciting results and the potential for additional discoveries, BRW will immediately apply for drilling permits to follow up on the forthcoming summer field work.

Figure 1 : Massive Prismatic Pale Grey Spodumene Crystal

Massive Prismatic Pale Grey Spodumene Crystal

Figure 2 : Spodumene-Bearing Pegmatite Boulders

Spodumene-Bearing Pegmatite Boulders

Figure 3 : Largest Spodumene-Bearing Boulder Identified to Date

Largest Spodumene-Bearing Boulder Identified to Date

Mirage Project Overview

The Mirage Project covers wholly owned claims by BRW, claims under option from Globex Mining Enterprise on which BRW can earn 100% ownership and claims under option from Osisko Development through General Partnership Osisko Baie James where BRW can earn 90% ownership.

Corporate Update on PLEX and Anatacau Agreement

Under the terms of an agreement between the Company and General Partnership Osisko Baie James ("Osisko GP"), the Company can acquire an undivided 90% interest in the Anatacau and PLEX properties, in consideration for payments in common shares of the Corporation and the performance of exploration work (see news releases dated November 28, 2022, December 5, 2022 and April 25, 2023). André Le Bel, director of the Corporation, refrained from participating in the discussions relating to the conclusion of this agreement given his ties with Osisko Gold Royalties Ltd., a company related to Osisko GP.

Qualified Person

The scientific and technical information contained in this press release in regards to Quebec has been reviewed and approved by Mr. Francois Goulet, Exploration Manager, Quebec. He is a Professional Geologist registered in Quebec (OGQ).

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium projects portfolio in Canada with holdings in Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick and Nova Scotia.

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.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/edb5d052-51b2-402b-bde9-e61834c86339

https://www.globenewswire.com/NewsRoom/AttachmentNg/9a0c3a67-6846-4731-8c54-c3a2efb1d288

https://www.globenewswire.com/NewsRoom/AttachmentNg/be628874-f073-4528-a5a8-d71a310ff8dc


Investor Relations/information Mr. Killian Charles, President and CEO info@brwexplo.ca

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Brunswick Exploration Outlines New Spodumene Rich Boulder Trains at Mirage and Launches Summer Drill Campaign

Brunswick Exploration Outlines New Spodumene Rich Boulder Trains at Mirage and Launches Summer Drill Campaign

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Mr. Killian Charles, President and CEO of BRW, commented: "While we continue to focus our efforts into the Mirage Project, we are thrilled to start new, ambitious grassroots initiatives throughout Eastern Canada and Greenland. These initiatives are a core pillar of BRW's strategy and, as the lithium industry remains ripe for new discoveries, we will continue to leverage our exploration expertise to rapidly identify new targets and explore in sound jurisdictions."

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CORRECTION - Brunswick Exploration Drills 93.45 Meters at 1.55% Li2O at MR-6

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Please note that on Wednesday, May 8th, Brunswick Exploration (TSX-V: BRW, OTCQB: BRWXF) issued the incorrect version of a press release under the same headline. The corrected release follows:

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; " BRW " or the " Company ") is pleased to report more significant results from the Mirage winter drilling campaign. The Mirage Project is located in the Eeyou Istchee-James Bay region of Quebec approximately 40 kilometres south from the Trans-Taiga Road. The winter drill campaign focused on the Central Zone and has continued to intersect multiple wide and well mineralized intervals within the MR-6 dyke and its vicinity, where it remains open in all directions.

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Brunswick Exploration Drills 93.45 Meters at 1.55% Li2O at MR-6

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Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; " BRW " or the " Company ") is pleased to report more significant results from the Mirage winter drilling campaign. The Mirage Project is located in the Eeyou Istchee-James Bay region of Quebec approximately 40 kilometres south from the Trans-Taiga Road. The winter drill campaign focused on the Central Zone and has continued to intersect multiple wide well mineralized intervals on the MR-6 dyke and its vicinity where it remains open in all directions.

Highlights include:

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Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) is pleased to announce that QXR has renegotiated the option agreement over the Liberty Lithium Brine Project in California, USA, to reduce option payments and also to include an option to acquire an interest in two additional prospective lithium brine projects in the USA.

- QXR and IG Lithium have agreed to restructure the Option Agreement in respect of the Liberty Lithium Brine Project to reduce option payments and also to include an option over two additional prospective lithium brine projects in the USA.

- QXR now has the option to acquire a 25% interest in IGL, the holder of the Liberty Lithium Brine Project, which reduces QXR's cash option payments from US$1.7 million to US$500,000.

- QXR has also entered into an option agreement with IGX Minerals LLC (a related company of IGL), granting QXR an option to acquire a 15% stake in IGX and which holds two prospective lithium brine projects in Nevada and Utah, USA.

- IGX and IGL continue discussions with US based producers of battery-grade lithium products in relation to the future supply of lithium brine products.

- QXR will update the market soon regarding planned activities over the gold projects in Queensland.

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QXR has entered into a further option agreement with IGX Minerals LLC (IGX) (an unlisted Delaware company established in 2022, and a related company of IGL) granting QXR an option to acquire a 15% interest in IGX on or before 30 June 2025 for US$500,000 (IGX Option). IGX has identified and secured two (2) prospective lithium brine projects in Utah and Nevada, USA, covering 10,660 hectares (26,300 acres). IGX and IGL continue discussions with US based developers and producers of battery-grade lithium products to potentially supply future lithium brine feedstock.

IGL and IGX have an excellent local US exploration team and contractors to ensure advancement of the projects.

Next steps include permitting for new drill sites at the Liberty Lithium Brine Project, targeting areas that are interpreted to be prospective to intersect deep lithium brines in the centre of the basin, further west of drilling previously undertaken by QXR (ASX announcement 19 June 2024). QXR is continuing its review of work conducted to date by IGX on their two projects, which indicate encouraging results in a favourable geological setting.

QXR Managing Director, Steve Promnitz, said: "QXR, through the new agreements, now has exposure to three large, prospective lithium brine projects, with reduced cash commitments, diversifying the portfolio. The lithium brine projects are located in the US market where demand continues for critical minerals and where downstream processors are still seeking supply options."

IG Lithium and IGX Minerals Member, Stephanie Ashton, said: "We recognize the valuable work that we have done together with QXR and are pleased to continue to consolidate and expand our joint efforts to find new critical supplies of upstream lithium brines for the rapidly expanding US battery industry.

To view the Key Commercial Terms, please visit:
https://abnnewswire.net/lnk/41U1J7MO



About QX Resources Ltd:  

QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia (WA), and gold assets in Queensland. The aim is to connect end users (battery, cathode and car makers) with QXR, an experienced explorer/developer of battery minerals, with an expanding mineral exploration project portfolio and solid financial support.

Lithium hard rock portfolio: QXR's lithium strategy is centred around WA's prolific Pilbara province, where it has four projects in strategic proximity to some of Australia's largest lithium deposits and mines. Across the Pilbara, QXR's regional lithium tenement package (both granted or under application) spans more than 350 km2.

Lithium brine: QXR drilling and geophysics indicate the existence of a large brine basin at the Liberty Lithium Brine Project USA and geological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada. QXR holds an Option to Purchase Agreement to earn-in to 75%.

Gold portfolio: QXR is developing Central Queensland gold projects through a 70% agreement with Zamia Resources Pty Ltd and also on a 100% basis. The gold and copper-gold-moly projects are strategically located within the Drummond Basin, a region that has a >8.5moz gold endowment.

Nickel sulphides: QXR has a significant 39% shareholding in unlisted public Australian company Bayrock Resources Limited, which has a portfolio of highly prospective battery minerals assets in Sweden, primarily in nickel, cobalt and copper. QXR is assisting Bayrock with project development and financing initiatives.

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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

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