Murchison Poised For Growth - Appoints Troy Boisjoli as President and CEO

TORONTO, October 12, 2021 - Mr. JC Potvin, Executive Chairman of Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) is pleased to announce the appointment of Mr. Troy Boisjoli as President and CEO of the Company.

Mr. Troy Boisjoli, previously held positions of Vice President Operations and Project Development and Vice President Exploration and Community for NexGen Energy Ltd. During the past five years, Troy has led NexGen's project team through the development of the Arrow Deposit in northern Saskatchewan and has been involved with major milestones such as multiple mineral resource estimates, the preliminary economic assessment, the prefeasibility study, the feasibility study, operations development, the environmental assessment work done to-date, and multiple discoveries along the Patterson Lake corridor. In addition, and foundational to mineral resource development, Troy maintained and established important local relationships with communities close to the Arrow project resulting in the successful signing of Impact Benefit Agreements with two Indigenous communities.

Prior to joining NexGen Energy in 2016, Mr. Boisjoli worked as an exploration geologist for Cameco Corporation on projects throughout northern Saskatchewan and Australia. Troy was also the Chief Geologist at the underground Eagle Point uranium mine, where he led a team that increased the mineral resources threefold while reducing drilling and discovery costs. In addition, while at Eagle Point, Troy led a team that implemented innovative processes that lead to improved grade control, production reconciliation and short-range and life of mine planning.

Mr. Boisjoli holds a Bachelor of Science in Geology from St. Norbert College in De Pere, Wisconsin, as well as a geoscience license with the Association of Professional Engineers and Geoscientists of Saskatchewan.

Jean-Charles Potvin, who is maintaining his role as Murchison's Executive Chairman, comments: "The wide-ranging experience, skill set, and proven track record of Mr. Boisjoli will significantly contribute to surfacing the intrinsic value of our mineral assets portfolio."

Troy Boisjoli comments: "I am thrilled to be joining Murchison. The combination of projects including the high-grade Brabant-McKenzie project, the highly prospective HPM and Barraute-Landrienne projects are all located in premier Canadian mining jurisdictions. Murchison is very well positioned to make the most value for its shareholders. Mr. Potvin, along with the highly-experienced Board, has assembled a very-skilled technical team. I am looking forward to moving into my new role and unlocking the outstanding potential at the HPM project in the very-near term."

The Company also announces that it has granted 1,000,000 stock options to Mr. Boisjoli. The stock options are exercisable for a period of five years at a price of $0.08 of which 700,000 vest immediately and 300,000 vest in six months.

TROY BOISJOLI, BSC

About Murchison Minerals Ltd. (TSXV:MUR)

Murchison is a Canadian?based exploration company focused on the exploration and development of the 100%-owned Brabant McKenzie zinc?copper?silver VMS deposit in north?central Saskatchewan. The Company also owns 100% of the HPM nickel?copper?cobalt project in Quebec and holds an option to earn 100% interest in the Barraute VMS exploration project also located in Quebec, north of Val d'Or.

Additional information about Murchison and its exploration projects can be found on the Company's website at www.murchisonminerals.com.

For further information, please contact:

Jean?Charles (JC) Potvin, Executive Chairman
Troy Boisjoli, President and CEO
Erik H Martin, CFO
Tel: (416) 350?3776
info@murchisonminerals.com

CHF Capital Markets
Thomas Do, Investor Relations Manager
Tel: (416) 868-1079 x 232
thomas@chfir.com

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.

Forward?Looking Information

Certain information set forth in this news release may contain forward?looking information that involves substantial known and unknown risks and uncertainties. This forward?looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward?looking information. The parties undertake no obligation to update forward?looking information except as otherwise may be required by applicable securities law.

SOURCE: Murchison Minerals Ltd.