Murchison Minerals Ltd. announced that it has concluded the 2024 Winter Exploration Program (the "Program") at its 100%-owned Cu-Zn-Ag-Pb-Au Volcanogenic Massive Sulphide (VMS) BMK Project in Saskatchewan. The Program was designed to provide a first pass reconnaissance for the discovery of a potential copper stockwork zone associated with the formation of the BMK Deposit. In total, 2,712 m were completed, comprising four diamond drill holes, which tested four high-priority target areas (one hole at each target area).

Three target areas: BMK Deep, North and South followed up on previous drilling at the BMK Deposit, where high-grade copper has been intersected. The fourth target, CST, tested a geophysical anomaly 400 m along strike to the southwest of the BMK Deposit. The three drill holes at the BMK Extension Targets successfully expanded the footprint of VMS mineralization at the BMK Deposit, demonstrating that the Deposit remains open and prospective for further expansion and discovery of an associated copper stockwork zone.

Significantly, at BMK North, drill hole BMK24-003 intersected a zone of VMS mineralisation with a high copper to zinc ratio. Similar high copper to zinc ratios have been intersected during previous drill campaigns which targeted the northern extent of the BMK Deposit. The Company is encouraged by these intersections, indicating the potential for a nearby copper stockwork zone proximal to the northern extent of the BMK Deposit.

At the CST Target area, drilling intersected a significant interval of VMS type alteration which correlates with an off-hole borehole electromagnetic conductor, indicating the drill hole may have narrowly missed a zone of VMS mineralization. The 2024 Program demonstrates the BMK Deposit remains open for further expansion of VMS mineralization. Additionally, the results from this first pass testing are encouraging for the discovery of an associated copper stockwork zone during future drill campaigns.

2024 Winter Drilling: CST24-001 was drilled to test the CST geophysical target 400 m southwest of the BMK Deposit. Due to ground conditions, the drill hole shallowed out, deviating significantly from the targeted pierce point intersecting the geophysical anomaly approximately 150 m from its center. A significant zone (over 6 m in length) of garnet-anthophyllite-cordierite-biotite gneiss consistent with alteration observed at the BMK Deposit was intersected at 410 m depth.

A subsequent borehole electromagnetic survey was completed on the hole and indicates an off-hole conductive anomaly appears to be associated with the alteration. Multiple graphitic conductors were intersected at depths of 438 m, 463 m and 733 m which partially explain the HeliSAM geophysical response. Additionally, a 0.5 metre spot sample was submitted for REEs analysis associated with a pegmatite (Figure 3) which returned very significant grades of REEs yielding 7.76% TREO.

The Company considers the presence of such high-grade REEs encouraging and will complete a property wide review of previous drill, grab and outcrop samples for additional occurrences. BMK24-001 was drilled to test the BMK South Extension, the hole intersected a narrow interval of mineralization (Table 1) confirming the presence of VMS mineralization south of the Deposit. BMK24-002 was drilled to test the BMK North Extension, the hole successfully intersected mineralization 100 m to the northwest of BMK's current footprint, intersecting grades of up to 1.96% copper with mineralization having a high copper to zinc ratio which is indicative of copper stockwork mineralization.

These results are considered encouraging, and the Company will focus additional exploration to the north of the Deposit. BMK24-003 was drilled to test the extent of the BMK Deposit and the potential for a copper stockwork zone. The hole successfully intersected mineralization 110 m down-dip from the current footprint of the BMK Deposit.