Brunswick Exploration Intercepts 25.1 Meters Grading 1.00% Li2O From Anatacau West

MONTREAL, July 20, 2023 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; “BRW” or the “Company”) is pleased to announce that it has received all results from its drilling campaign at the Anatacau West project, located in the Eeyou Istchee-James Bay region of Quebec. The final results are from the six remaining holes. In total, 17 out of 18 holes intercepted pegmatites and, importantly, the pegmatites remain open a depth and with potential for new pegmatites further south and to the east.

Drill result highlights from this release:

• 25.1 metres at 1.00% Li2O in drill hole AW-23-17, including 18.1 metres at 1.37% Li2O;
• 18.2 metres at 1.31%Li2O in drill hole AW-23-18;
• 18.2 metres at 1.33%Li2O, including 9.5 metres at 1.74% Li2O and 3.5 metres at 2.11% Li2O in drill hole AW-23-05.
  

Mr. Killian Charles, President and CEO of BRW, commented: “We are very excited to return to Anatacau West and Anatacau Main once restrictions have been lifted. The recently announced Anais spodumene showing underscores the regional potential for the two projects. We believe systematic exploration across our claims will continue to lead to new discoveries. Both targets will be prioritized for drilling in late Q3.”

Anatacau West Drilling Campaign Overview

Following drilling completed to date, BRW believes it has intercepted at least two continuous, distinct spodumene-bearing pegmatites. All of the pegmatites are oriented north-northeast, are closely spaced in an on-echelon pattern and dip steeply towards the west. The pegmatites are hosted in metasedimentary rocks in an east-west deformation corridor similar to Allkem’s neighboring James Bay Lithium Deposit.

Drilling has initially focused on near surface mineralization with the pegmatites only being drill tested to a maximum vertical depth of 137 meters. They remain open at depth. Furthermore, potential exists for repetition of new pegmatites further to the south and to the east.

Lithium mineralization consists predominantly of spodumene with minor lepidolite. Spodumene crystals are generally well-formed, decimetric in scale (up to 10cm) and have a white to pale grey color. Importantly, grade is strongly correlated with visually identified spodumene percentage in core allowing BRW to rapidly ascertain the lithium potential of mineralized intercepts in exploration drilling.

Table 1: Mineralized Intercepts from the Winter 2023 Anatacau West Drilling Campaign

Note: All drill holes are NQ core size and all intervals are core length. True width of intervals is not confirmed but estimated to be approximately 70% of true width. Significant intervals are assay values above 0.1% Li2O.

Figure 1: Plan Map of Drill Holes Completed at Anatacau West

Table 2: 2023 Winter Drill Hole Location

Termination of Advisory Services Agreement

The Company announces that the advisory services agreement entered into with Red Cloud Financial Services Inc. (“Red Cloud”) and originally announced on March 31, 2023 has been rescinded by the parties. The upfront fee of $120,000 paid by the Company in consideration for the services to be provided by Red Cloud has been refunded to the Company.

Quality Assurance / Quality Control

BRW adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses. Drill core samples from the Company’s projects are securely transported to a core facility on site, where they are logged and sampled over 0.5 to 1.0 meter intervals. Samples selected for assay include insertion of quartz blanks and certified reference materials into sample batches at a rate of approximately 10 per cent. Samples are shipped to ALS Canada Ltd.’s preparation facility in Val-d’Or. Pulps are analyzed at the ALS Canada Ltd. facility in Vancouver. All samples are analyzed by sodium peroxide fusion with ICP-AES/MS finish. Reported drill intersections use a lower analytical cut off value of 0.1% Li2O.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. François Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Canada with holdings in Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick and Nova Scotia.

Investor Relations/information

Mr. Killian Charles, President and CEO (info@brwexplo.ca)

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/07ddec2e-0652-488c-90b0-cf72cc173a41