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Murchison Minerals Ltd.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 100 – 5063 North Service Road
Burlington, ON
Canada L7L 5H6
Tel No.: 416-350-3776
Web Site: www.murchisonminerals.com
Contact Person:
Jean-Charles (JC) Potvin
President & CEO
jcpotvin@murchisonminerals.com
Thomas Do
Investor Relations Manager
thomas@chfir.com


Company Data

Traded Market: TSXV
Traded Symbol: MUR
Outstanding Shares: 108.9 million
Public Float: approx. 50% of total outstanding shares
52 Week High: $ 0.11
52 Week Low: $0.055
Present Price: Click Here


Introduction

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Murchison is a Canadian‐based exploration company focused on the exploration and development of the 100%-owned Brabant Lake zinc-copper-silver project in north‐central Saskatchewan. The Company also owns 100% of the Haut Plateau de la Manicouagan (HPM) nickel-copper-cobalt project in Quebec and holds an option to earn 100% interest in the Barraute-Landrienne base-metals exploration project also located in Quebec, north of Val d'Or.


Projects in Hand

(1) Brabant Lake Zinc-Copper-Silver Project, Saskatchewan

Murchison's 100%-owned Brabant Lake Project is located 175 kilometres northeast of La Ronge, Saskatchewan, and approximately three kilometres from the community of Brabant Lake. The area is accessed year-round via provincial Highway 102 and is serviced by a power grid.

The Project consists of one mining lease, which hosts the Brabant-McKenzie VMS deposit, and additional mineral claims that total 627 square kilometres, extending over 57 kilometres of strike length over favourable geological horizons, multiple known mineral showings and identified geophysical conductors.

The Brabant-McKenzie VMS deposit has National Instrument 43-101 resources of:

  • Indicated: 2.1 million tonnes at 7.08% zinc, 0.69% copper, 0.49% lead, 39.60 g/t silver, 9.98% ZnEq;
  • Inferred: 7.6 million tonnes at 4.45% zinc, 0.57% copper, 0.19% lead, 18.40 g/t silver, 6.29% ZnEq.

The Brabant-McKenzie VMS deposit is open in all directions

  • Betty Zone (identified by the 2021 winter drill program): After the two recent drill holes hit the edge of a mineralized system, a downhole geophysics program identified a 700 m x 200 m conductive body. Further drilling planned.
  • Initiated metallurgy study on the Brabant-McKenzie deposit in order to optimize mineral recoveries. Preliminary tests show favourable results.
  • Complete infill drilling to convert inferred resources to indicated, and then complete a preliminary economic assessment (PEA).

(2) Haut Plateau de la Manicouagan (HPM) Nickel-Copper-Cobalt Project, Québec

The 100%-owned 134 sq. km HPM property is located between Baie-Comeau and Fermont, Québec, about 20 kilometres from an all-season road connecting the two communities. The HPM property lies within the Manicouagan Metamorphic Complex and hosts several nickel-copper-cobalt occurrences. The Project is in close proximity to roads and rail.

The HPM property covers the prospective geological unit that hosts significant nickel, copper and cobalt mineralization identified by a total of 32 diamond drill holes (6,469 metres) completed in 2001/2002 and 2008.

  • Best drill assay at Barre de Fer target: 43.18 m of 1.74% nickel, 0.90% copper and 904 ppm cobalt (5.5% Cu equivalent)
  • Identified 54 EM conductors in a recent VTEM survey. Follow-up groundwork has been initiated
  • Sampling at PYC target confirms the presence of Ni-Cu-Co over 1.7 km strike
  • 10 nickel/copper/cobalt bearing gossan areas identified
  • Exploration drilling planned for late Q3.

(3) Barraute-Landrienne Base Metals Project, Québec

  • Option to earn 100% in 75 mineral claims covering 2,377 hectares
  • 60 km north of Val-d'Or, and about 4 km northwest of the municipality of Barraute
  • 2 km away from the 15.7 Mt zinc-silver Abcourt-Barvue deposit
  • Potential to host some of the best untested geological/geophysical base-metal targets in the area
  • All the targets are drill ready.

Investment Highlights

  • Experienced management and board with proven success record. President and CEO sold Pangea Goldfields Inc. to Barrick Gold Corporation for $204 million in 2000 and arranged US$220 million in funding for the Kwale Mineral Sands project in Kenya.
  • Projects located in two of the best mining jurisdictions in the world, Saskatchewan and Quebec, surrounded by excellent infrastructure.
  • Murchison positions itself as a key mining player in the green energy revolution with projects that provide exposure to critical minerals including Cobalt, Copper, Silver, Nickel, Graphite and Zinc.
  • Brabant-McKenzie, located in a similar geological environment as the Flin Flon, Lalor Lake, Lyn Lake and Snow Lake deposits, is a high-grade VMS deposit. The project also has significant exploration upsides and remains open for expansion.
  • The newly acquired properties located in the Barraute-Landrienne mining camp in Quebec, are believed to host some of the best untested geological/geophysical base-metal targets in the area. All the targets are drill ready.
  • Huge land package in Saskatchewan covering an area of 627 sq. km highly prospective for VMS-type deposits and the potential to identify high-grade strata-bound metasedimentary gold deposits resembling the Greywackes, North Lake, and numerous other known gold deposits in the region.
  • Murchison has a close and supportive relationship with local communities and governments.
  • The best assay at the HPM Project shows high-grade drill intercepts including 1.74% Ni, 0.9% Cu and 0.09% Co over 43.2 m at Barre de Fer. Significant tonnage potential also exists on the PYC target. The Project has at least 10 gossan exploration targets that show similarities to the renowned Voisey's Bay nickel mine and has excellent potential for discoveries.


Management

Management and Directors

Jean-Charles (JC) Potvin, B.Sc. (Hon), MBA, President & CEO, Chairman

Co-founder of the Company

President and CEO of Pangea Goldfields Inc. acquired by Barrick Gold Corporation for $204 million in 2000

Previously Director, Vice-President and top-ranked Equity Research Gold Analyst with Burns Fry/ BMO Nesbitt Burns

Currently a director of Azimut Exploration Inc., Golden Sun Resources and Chairman of Murchison Minerals Ltd.

John Shmyr, B.Sc. Geology (Honours), Vice President of Exploration

10 years of experience in mineral exploration

Previously project geologist for BFR Copper & Gold, directly involved in the discovery of additional Cu-Zn mineralization at BFR's Flin Flon project

Registered member of the Professional Engineers and Geoscientists of Saskatchewan

Holds special authorization with the Ordre des Géologues du Québec.

Erik H. Martin, CPA, CMA, Chief Financial Officer and Corporate Secretary

25 years of financial disclosure & management experience with publicly-listed resource companies

Denis C. Arsenault, B.Comm., Independent Director

Chair of the Audit Committee and member of the Compensation Committee

More than 40 years of professional experience with extensive board and governance committee experience

Held senior financial positions in a range of sectors including mining and resources.

Donald K. Johnson, B.Eng., MBA, O.C., Independent Director

Currently serves as a member of the Advisory Board of BMO Capital Markets

Former President of Burns Fry

Former Vice Chairman of BMO Nesbitt Burns

Formerly a Director of the Toronto Stock Exchange and Chairman of the Investment Dealers Association of Canada

Currently Emeritus Chairman of Goeasy Limited

Officer of the Order of Canada

David Pyper, B.Eng., MBA, Independent Director

Chair of the Compensation Committee and member of the Audit Committee

Managing Partner at Blair Franklin Capital Partners Inc. of Toronto

Over 24 years of M&A and corporate finance experience in a wide variety of industries

Jacqueline Leroux, P.Eng., Director

28 years of experience in the mining industry, specializing in environmental compliance

Director of Environment at Troilus Gold

Owner of JLeroux enr, a Quebec-based environmental consulting firm.

Cory Belyk, Strategic Advisor

30 years of experience in the mining industry involved with companies at various stages from grassroot exploration to mining operations

Proven track record with successful discovery in the Athabasca Basin area

Served as a member of the board of several renowned mining firms including Cameco and is the CanAlaska Uranium.


News Update

On May 13, 2022, Murchison Minerals Ltd. has added Jacqueline Leroux, Troy Boisjoli (president and chief executive officer of Murchison) and Cory Belyk to its board of directors. The number of eligible shares at the 2022 annual general meeting was 169,941,335, of which a total of 81,697,511 were voted, representing 48.07 per cent of the total issued and outstanding at the record date.

On April 29, 2022, The TSX Venture Exchange has accepted the company's warrant incentive program, designed to encourage the exercise of up to 27,118,788 existing warrants of the company, as described in the company's news release dated March 17, 2022.

On April 04, 2022, Murchison Minerals Ltd. has released the results from the recently completed recompilation and modelling of holes drilled at the Barre de Fer (BDF) zone on the 100-per-cent-owned HPM (Haut-Plateau de la Manicouagan) project, located in Quebec. Based on these results the Company is advancing a strategy to expand and delineate the BDF Zone and surrounding prospective areas during this summer's planned drill program. In support of these plans, the Company is also pleased to announce that it has awarded the summer drilling contract, on the HPM property, to Logan Drilling.

On March 23, 2022, following the press release dated March 17, 2022, the TSX Venture Exchange has provided conditional approval of Murchison Minerals Ltd.'s early warrant incentive program. The terms and conditions of the program and the method of exercising warrants pursuant to the program are set forth in a letter that has been posted on SEDAR and is available on the company's website.

On March 17, 2022, Murchison Minerals Ltd. has created a warrant exercise incentive program designed to encourage the early exercise of up to 27,118,788 of its outstanding unlisted warrants exercisable for common shares of the company. The warrants are currently exercisable as follows: (i) five million warrants at a price of 12 cents per common share expiring on Sept. 5, 2022; and (ii) 22,118,788 warrants at a price of 12 cents expiring on Oct. 21, 2022.

Under the Program, the Company is offering an inducement to each Warrant holder that exercises their Warrants prior to April 15, 2022 (the "Early Exercise Period"), by the issuance of one-half of an additional common share purchase warrant (each whole warrant, an "Incentive Warrant") for each warrant early exercised. Each Incentive Warrant will entitle the holder to purchase one additional Common Share until April 15, 2023, at a price of $0.18. The Program will commence March 17, 2022, at 9:00 a.m.

(Toronto time) and expire on April 15, 2022, at 4:00 p.m. (Toronto time) (the "Early Exercise Expiry Date"). The Incentive Warrants will be subject to a four month hold period from the date of issuance.

On August 16, 2021, Murchison Minerals Ltd. announced that it has received assay results from its June prospecting program at the PYC target area on the HPM (Haut-Plateau de la Manicouagan) property in Quebec. These results confirm widespread nickel-copper-cobalt surface mineralization across the entirety of the traced 1.7 km strike length of sulphide mineralization. The results are from grab samples and short backpack drill core samples, featuring assays as high as 1.27% Nickel Equivalent or 2.59% Copper Equivalent (0.79% Ni, 0.14% Cu, 0.15% Co) from 0.83 metres of backpack drill core. The assay results also confirm mineralization south-east of the PYC target at the newly discovered Dix showing, which assayed as high as 0.90% Nickel Equivalent or 1.83% Copper Equivalent (0.44% Ni, 0.39% Cu, 0.10% Co) from 0.45 metre of backpack drill core.

On August 10, 2021, Murchison Minerals Ltd. announced excellent preliminary metallurgical results from its Brabant-McKenzie zinc-copper-silver deposit in Saskatchewan. The results indicate that a simple flotation test using a coarse grind with a rougher and scavenger circuit was able to upgrade the zinc grade from 9.13% to 27% with a 98% recovery.


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