Brunswick Exploration Announces the Discovery Spodumene-Bearing Pegmatite at the Elrond Project

MONTREAL, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. BRWBRWXF "BRW" or the "Company"))) is pleased to announce that, following the restart of prospecting across its portfolio in the Eeyou-Istchee James Bay region of Quebec, it has uncovered a new, undocumented spodumene-bearing pegmatite at the Elrond Project. The spodumene bearing pegmatite outcrop, known as the Arwen showing, is exposed over a surface area measuring approximately 250 meters by 100 meters, dipping very shallowly to the north. The pegmatite remains open in all directions.

Mr. Killian Charles, President and CEO of BRW, commented: "Following the exciting large-scale lithium discovery at Mirage and building on our exploration success at Anatacau with the Anais showing, I am very pleased that our team have made another spodumene discovery in the James Bay which is quickly becoming one of the prospective hard rock lithium regions in the world. Both Anais and Arwen will be drill tested in 2024 concurrent to our ongoing drilling campaign at Mirage."

The Arwen Discovery

The Arwen outcrop (see Figure 1) is well mineralized in spodumene throughout the showing with an apparent higher-grade zone, containing up to 30% spodumene, which has a visible extent of approximately 75 by 15 meters. The spodumene crystals are well formed and up to 30 centimeters in length with an off-white color and were confirmed through LIBS analysis.

Figure 1: Arwen Outcrop

The discovery is part of a larger trend of fractionated pegmatites that include a number of beryl showings. However no other occurrences of spodumene have been observed to date elsewhere on the Elrond Project.

The Elrond Project is part of the Mythril Option agreement with Midland Exploration Inc. whereby BRW can earn a maximum of 85% interest in the project. For further details see press release dated November 10 2022.

Mirage Drilling Update

The Company began drilling on September 11 at the Mirage project with a single helicopter-supported drill rig. To date, 15 holes have been drilled with current total meterage over 1,000 meters. Significant spodumene-bearing pegmatites have been intersected in 12 holes over widths ranging up to 52.0 meters (true thickness presently unknown). The first set of assays from the inaugural drill campaign at Mirage are expected in the second half of October. BRW will continue drilling as long as fall weather permits. Further drill programs for winter 2024 are currently being planned.

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.

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/e51a0e0a-7138-4e83-9ec1-ed3c887acc33