Murchison Minerals Discovers New Copper Mineralization 700 Metres West of The High-Grade Cu/Zn/Ag Main Lake Showing

TORONTO, September 23, 2019 - Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) is pleased to announce the discovery of massive sulphide-type copper mineralization spatially related to seven electromagnetic (EM) conductors located approximately 700 metres west of the historic Main Lake showing. Murchison's 2019 summer prospecting program utilized Instrumentation GDD Inc.'s Beep Mat technology to locate near-surface sulphide mineralization in this area, which is now referred to as the Main Lake West zone.

Multiple zones of sulfide mineralization were identified at the Main Lake West zone. These zones were exposed and sampled using a channel saw and a small backpack drill. The mineralization consists of semi-massive to massive pyrrhotite and disseminated chalcopyrite with assay values up to 0.42% Cu over 1.7 metres and 0.69% Cu over 0.7 metre in backpack drill core, and sampling of nine trenches with assay values up to 0.58% Cu (Figure 1). The mineralization correlates well with the geophysical modelling (Figure 2); however, the full extent of the mineralization remains undefined.

Figure 1: location of sampling results

Figure 2: 3-D Maxwell plate models of EM conductors with Voxi magnetic inversion high susceptibility shell (grey). The green dots identify copper-bearing backpack drill and channel samples. View is looking south-southwest.

The prospecting team also collected a 0.89 metre backpack drill core sample from the rock face of the Main Lake showing which assayed 6.17% Cu, 8.31% Zn, 140g/t Ag and 0.2 g/t Au (Figure 3).

Figure 3: chalcopyrite and sphalerite-bearing backpack drill core

The historic Main Lake showing received limited near surface drilling in 1964, reporting an intercept of 0.7 metre at 5% Zn. This showing correlates well with a 530 metre long modelled conductive unit from the 2019 airborne survey. Limited historic exploration paired with the high-grade nature of the showing makes this area a high-priority exploration target for Murchison, as it has strong potential for hosting economic VMS mineralization.

The Main Lake showing and the Main Lake West zone are located ten kilometres southwest of Murchison's Brabant-Mackenzie Deposit and within the 324 km² of the 100% Murchison owned contiguous claims. A 3D modelling of the EM conductors and magnetic signature found in the Main Lake area is shown in Figure 4.

Figure 4: Location of a proposed diamond drill hole, backpack drill hole relative to the EM signature.

Qualifying Statement

The foregoing scientific and technical disclosures have been reviewed by Ehsan Salmabadi, P. Geo., and Martin St-Pierre, P. Geoph., qualified persons as defined by National Instrument 43-101. Mr. Salmabadi and Mr. St-Pierre are independent consultants to Murchison and the Brabant-McKenzie project.

About the Brabant?McKenzie Project

The Brabant?McKenzie project is located 175 kilometres northeast of La Ronge, Saskatchewan and approximately three kilometres from the community of Brabant Lake. The area is accessed year?round via provincial Highway 102 and is serviced by grid power. The project consists of one mining lease, which hosts the Brabant?McKenzie VMS deposit, and additional mineral claims totalling 324 square kilometres, which cover approximately 38 kilometres of strike length over favourable geological horizons, multiple known mineralized showings and identified geophysical conductors.

Brabant?McKenzie VMS Deposit
Indicated: 2.1 mt @ 7.08% zinc, 0.69% copper, 0.49% lead, 39.60g/t silver
Inferred: 7.6 mt @ 4.45% zinc, 0.57% copper, 0.19% lead, 18.40g/t silver

About Murchison Minerals Ltd. (TSXV: MUR)

Murchison is a Canadian?based exploration company focused on the exploration and development of the 100% owned Brabant?McKenzie zinc?copper?silver project in north?central Saskatchewan. The Company also has a 100% interest in the HPM nickel?copper?cobalt project in Quebec. Murchison has 48.4 million shares issued and outstanding.

Additional information about Murchison and its exploration projects can be found on the Company's website at www.murchisonminerals.com. For further information, please contact:

Jean?Charles (JC) Potvin, President and CEO
jcpotvin@murchisonminerals.com
Erik H Martin, CFO
Tel: (416) 350?3776
info@murchisonminerals.com

Forward?Looking Information

Certain information set forth in this news release may contain forward?looking information that involves substantial known and unknown risks and uncertainties. This forward?looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward?looking information. The parties undertake no obligation to update forward?looking information except as otherwise may be required by applicable securities 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.

SOURCE: Murchison Minerals Ltd.