PRESS RELEASES

Brunswick Exploration Reports 5 km-long Anomolous Gold Trend in Soil Sampling at Fundy Gold

Figure #1

Figure #1

MONTREAL, March 17, 2021 (GLOBE NEWSWIRE) — Brunswick Exploration Inc. (“BRW” or the “Company”) is pleased to announce results from its 2020 soil sampling program at the Fundy Gold Project (“Project”) located in Southern New Brunswick (Figure 1). These maiden results confirm the Company’s view that the Fundy Shear Zone is a district scale, underexplored orogenic gold-polymetallic fault system.

Soils Program Highlights

  • Anomalous gold values in soils occur across the entire 5-kilometer-long grid and remains open in all directions (see Figure 2)
  • 121 of 1,904 samples assayed over 10ppb gold and 25 of 1,904 samples assayed over 50ppb gold (up to 16,200 ppb gold)
  • Numerous gold-bearing soils are coincident with magnetic anomalies and Lidar lineaments

Mr. Killian Charles, President of BRW, commented: “These initial results are very encouraging and support our conviction that the Fundy Gold Project is highly prospective for precious metal endowment. The area has seen no systematic exploration in the past, and since staking the 53,000-hectare land package in 2020, magnetic, resistivity, gravity and Lidar surveys have been reprocessed in addition to compiling all available till, soil and stream sediment data. Combined with initial prospecting, BRW has identified numerous mineralized areas within multiple mylonitic fault bounded corridors. We are very excited about this project and plan to aggressively pursue our prospecting efforts over the coming months along the soil anomalies and faulted corridors.”

Soils Program Details

This program was a first step in assessing the gold potential along the highly deformed Seven Mile Lake Metamorphic Suite (SML) (See Figure 1). The B-Horizon soils grid covers 500 hectares and is roughly 5 kilometers long by 1 kilometer wide containing 1,904 samples spaced at 25m intervals along 100-metre spaced lines. The grid was geologically constrained to the main SML deformation zone and broad gold anomalies occur throughout the large metamorphic suite.

Figure #2

Figure #2

The SML mylonite continues beyond the boundaries of the grid and extends for approximately 18 kilometers. It is fault bounded along the southern contact by the district scale Belleisle Fault. Importantly, quaternary geological mapping by the government describes the till beneath the soil as a thin veneer with an average thickness of less than 1 meter.

Other mineralized structures are thought to exist outside of the main zone of deformation currently covered by the soil sampling. To date, anomalous samples are positioned in both magnetic highs and lows as well as Lidar lineaments. Follow-up work is planned for Q2 and Q3 2021.

2021 Exploration Program

The company will continue to aggressively prospect and conduct soil surveys along major deformation and fault corridors including the Seven Mile Lake Metamorphic Suite and the Pocologan Metamorphic Suite (PMS) in the spring (See Figure 1). The PMS is 25 kilometers in strike and is considered to be a highly prospective mylonitic deformation zone with very little history of exploration. BRW will also conduct a property wide till survey at roughly 500m spacing along and near all available roadways and bush roads. Depending on the results of the soil programs, till survey and follow up prospecting, the company expects to conduct a trenching and/or drilling program in Q4 2021.

Fundy Gold Project Overview

The Project is located 15 minutes West from the city of Saint John and extends roughly 45 kilometres to the city of Saint George. The area is located within the Fundy Shear Zone that borders the Gander and Avalon Geological Terranes, the latter having yielded approximately 6.0 Moz gold production in the Carolina Slate Belt in the USA. The newly acquired, 53,000-hectare land package has been poorly explored, most work being geological in nature with limited surface prospecting.

The Project is considered highly prospective as it includes several vein gold-polymetallic showings within the broad Fundy Shear Zone. This major structure cuts across all of southern New Brunswick and comprises multiple deep-rooted faults that expose panels of sedimentary, volcanic and granitoid rocks, as well as mylonites, juxtaposed during multiple orogenic events over an extensive time frame.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. Charles Kodors, P. Geo, Manager New Brunswick, a licensed professional geologist in New Brunswick.

Soil samples were analyzed for gold using standard fire assay (30 gram) and Atomic Absorption (AA) finish methods and 45 additional elements were analysed by Inductively Coupled Plasma Emission Spectroscopy (ICP) at AGAT Laboratories in Mississauga, Ontario. Field duplicates were taken approximately 1 meter from the original sample every 20 samples. In-house analysis of standards and pulp duplicates were performed at the lab.

The 16,200 ppb sample didn’t have enough material to conduct a gravimetrical finish; fire assay checks with AA finish were conducted on the remaining material which returned values of up to 1030 ppb. Some samples contained pulps that were less than 30 grams due to the granitic and coarse-grained composition of the B-Horizon soil.

About Brunswick Exploration

The Company, formerly Komet Resources Inc., is part of the Osisko Group of companies and is a Montreal-based mineral exploration venture listed on the TSX-V under symbol BRW. The Company has sold its former African assets and is now focused on exploration and development of gold and base metal properties in Eastern Canada. Current projects include gold-polymetallic vein systems in Southern New Brunswick (Fundy Gold Project), base metals VMS in the Bathurst Camp in northern New Brunswick and in the Chibougamau region of Quebec (Waconichi), and the new Lac Édouard nickel-copper project in Québec.

Investor Relations/information

Mr. Killian Charles, President ([email protected]).

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

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Infographics accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/855628f2-fcda-4d35-9e0e-691c07864f91

https://www.globenewswire.com/NewsRoom/AttachmentNg/f5913551-411d-4432-ab11-60a3e89d701d

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