Murchison Minerals Ltd. announced the commencement of 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 is comprised of diamond drilling totaling approximately 3,500 m and is expected to be completed by mid-March. Cyr Drilling of Sunnyside, Manitoba was selected as the drill contractor.

The objective of the Program is the discovery of the copper-rich stockwork zone predicted due to the high-grade nature to be associated with the formation of the BMK VMS Deposit. The Program will focus on testing three target areas: CST, BMK North and BMK South Extensions. 2024 Winter Exploration Program: The Program will focus on diamond drill exploration, utilizing one drill.

Murchison maintains a year-round core processing facility, and accommodations within the nearby 2.5 km community of Brabant Lake, SK. The BMK Project site is easily accessible with maintained road access within 1.8 km of the Deposit, while exploration target areas have well established drill-trails. The Company has secured all necessary permits and approvals for the Program.

The BMK Deposit has a 2018 NI 43-101 resource estimate of 2.1 Mt indicated at 0.69% Cu, 7.08% Zn, 0.49% Pb, 39.6 g/t Ag, 0.23 g/t Au and 7.6 Mt of inferred at 0.57% Cu, 4.46% Zn, 0.19% Pb, 18.42 g/t Ag, and 0.1 g/t Au and remains open along strike and at depth. Recent work completed by subject matter expert Dr. Stephen J. Piercy, Professor at Memorial University NFLD, has aided in an updated geological interpretation of the BMK Deposit. The updated geological interpretation indicates that the BMK Deposit should have an associated copper stockwork zone which is typical in most VMS deposits, and has yet to be discovered at BMK.

The copper stockwork zone represents a target which could considerably add to the BMK resource, and its identification is of top priority for Murchison. During the Program, the Company will drill test three high priority areas. i).

The CST target, a large geophysical anomaly, reidentified in a 2017 Heli-SAM survey (hybrid ground/airborne electromagnetic survey). The target is considered prospective due to its similar conductance to that of the BMK Deposit, as well as being only 400 metres south of the BMK Deposit directly along strike. The large size and proximity of the anomaly to the BMK Deposit may indicate a copper stockwork zone or an additional lens of massive sulphide mineralization.

ii). BMK South Extension target, located south of the current extents of the defined BMK Deposit. The target area is along strike from multiple high-grade copper intercepts at the southern edge of BMK.

iii). BMK North Extension target, located north of the current extents of the defined BMK Deposit. The target area is along strike from multiple high-grade copper intercepts at the northern edge of BMK Deposit.