Murchison Confirms Zinc, Silver and Gold Mineralization at Historic MIN Showing

TORONTO, October 15, 2019 - Murchison Minerals Ltd. ("Murchison" or the "Company") - (TSXV:MUR) is pleased to announce confirmation of anomalous zinc, silver and gold mineralization at the historic MIN Showing during its 2019 summer prospecting program (Table 1 and Figures 1, 2, 3 and 4). The MIN Showing is located south of the large Min Showing North conductive body measuring 1,080 by 888 metres, and approximately four and a half kilometres southwest of, and on strike with, the Brabant-McKenzie Deposit and the recently discovered Brabant-McKenzie South mineralization. Multiple channels were cut perpendicular to strike on the exposed mineralization using a diamond saw on the shore of Brabant Lake, with notable assays of 0.32% zinc and 5.3 g/t silver over 1.2 metres, and 0.39% zinc and 7.8 g/t silver over 0.35 metre. Anomalous gold-silver values were also noted in a sample with 0.449 g/t gold, 11.4 g/t silver and 0.15% zinc over 0.50 metre. The mineralization is relatively low grade; however, its correspondence with nearby conductive bodies is encouraging for the potential to discover significant VMS mineralization.

Table 1 - MIN Showing 2019 Channel Sample Results

The Min Showing consists of pyrrhotite, minor pyrite and sphalerite finely disseminated in a rusty, weathered, conformable and siliceous layer. The mineralized zone is approximately three metres wide and occurs in a mixture of biotite-garnet, hornblende, and calc-silicate gneisses and a white-to-buff pegmatite (Saskatchewan Mineral Deposits Index #0444).The MIN Showing was first located in 1959 during regional geologic mapping and was followed up by prospecting in 1983 and 1991 with the most notable assay returned from a grab sample completed in 1983 of 0.17% zinc and 14.4 g/t silver. This zinc-silver mineralization further indicates the strong VMS potential of the Brabant-McKenzie host geologic unit elsewhere in the project area. Recent geophysical modelling of Murchison's surface TDEM (Time Domain Electromagnetic), VTEM ( Versatile Time Domain Electromagnetic) airborne magnetic survey and ground magnetic data shows the presence of a conductor with moderate conductivity coincident high magnetic susceptibility that is located under and to the west of the channel samples, suggesting that semi-massive to massive mineralisation may be present nearby.

A second conductive unit called Min Showing North which lies approximately 350 metres to the north of the Min Showing (Figures 5, 6 and 7) has been modelled as a large low to moderate conductivity plate measuring 1,080 by 888 metres and has partial coincidence with high magnetic susceptibility. Historical drill hole BL-12-04 which is located east of the plate intersected anomalous silver grading 1.5 g/t over 0.5 metre. Min Showing North represents an encouraging high priority exploration target along strike of the MIN Showing.

Mr. JC Potvin, President and CEO stated, "The high number of great exploration targets that have been identified from the 2019 prospecting program shows the fantastic potential for the Brabant-McKenzie project to host multiple deposits, and we feel this area is an undiscovered mining camp."

Figure 1 - MIN Showing Location Map

Figure 2 - MIN Showing Assay Locations

Figure 3 - MIN Showing Colour Image of Surface TDEM

Figure 4 - MIN Showing Modelled EM Plate with High Magnetic Susceptibility

Figure 5 - MIN Showing North Colour Image of Surface TDEM

Figure 6 - MIN Showing North Modelled EM Plate with High Magnetic Susceptibility

Figure 7 - MIN Showing North Modelled EM Plate with Proposed DDH and Historical BL-12-04 DDH which appears to have been drilled too far East.

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.