Murchison Identifies 58 New Conductors at Brabant Lake

TORONTO, April 6, 2020 - Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) is pleased to announce that it has completed a 949 line kilometre electromagnetic (VTEM-Max) airborne survey covering approximately 3,353 hectares at the Brabant Lake project in northern Saskatchewan. The focus was primarily to identify additional new targets on the south-west extension of the geological horizon which hosts the Brabant-McKenzie VMS Deposit. A total of 58 new conductors have been identified of which, 35 are located on the Brabant-McKenzie VMS Deposit horizon.

This survey successfully identified 35 electromagnetic ("EM") conductors to the south-west of the Brabant-McKenzie Deposit and the recently announced Main Lake drill discovery. These are of limited strike length and range in conductance from moderate to high (see Figure 1). Short strong EM conductors are ideal targets for volcanogenic massive sulphide (VMS) exploration. The new anomalies are located relatively close to Highway 102 and thus, are favourably located for ground exploration and prospecting. Some 23 additional EM conductors have also been defined on the M-Block group of claims located on the eastern side of the Brabant project and are presented in Figure 2.

This survey complements the approximately 60 other existing anomalies identified in previous airborne surveys.

"The discovery of so many new EM conductors at the Brabant project paired with the new discovery at Main Lake is very exciting and we feel we are seeing just the tip of the iceberg"- Mr. Jean-Charles Potvin, President and CEO Murchison Minerals.

The previously un-flown part of Murchison's 565 km² property package was covered on a 400 metre spacing which included a number of in-fill lines at 200 metre spacing over the six historical mineral showings located on the MAS claim block acquired in February 2020. Three of these six showings have EM conductors located in close proximity.

On March 31, 2020 Murchison announced it had intersected VMS type copper-zinc-silver mineralisation on one of the 7 EM conductors identified in the 2019 VTEM survey near Main Lake. This new VTEM survey has identified several isolated conductors within a 3 km radius of the Main Lake discovery.

Figure 1

Figure 2

Ground Geophysics at Brabant South

Murchison's winter 2020 program included fixed loop surface TDEM surveys focused on the Brabant South area, which contains a complex package of conductors defined by the 2011 VTEM Plus survey. Figure 3 presents the VTEM EM responses for the area and the fixed loop surface TDEM survey lines. Figure 4 shows the results of the fixed loop surface TDEM survey, which has defined five high conductance targets that are high priority and drill ready.

Figure 3

Figure 4

Qualifying Statement

The foregoing scientific and technical disclosures have been reviewed by Martin St-Pierre, P. Geoph., qualified person as defined by National Instrument 43-101. Mr. St-Pierre is an independent consultant to Murchison and the Brabant-McKenzie project.

Mineral Resource Summary for Brabant-McKenzie VMS Deposit

The above mineral resource estimate for the Brabant-McKenzie VMS Deposit was prepared by independent qualified person ("QP") Finley Bakker, P.Geo., and has an effective date of September 4, 2018. The NI43-101 Technical Report named Technical Report on the Resource Estimate Update for the Brabant-McKenzie Property, Brabant Lake, Saskatchewan is available on the Company's website and on SEDAR.

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 565 square kilometres, which cover approximately 57 kilometres of strike length over favourable geological horizons, multiple known mineralized showings and identified geophysical conductors.

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 64.7 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 or 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.