2018 News

May 22, 2018 (Toronto, Ontario): Murchison Minerals Ltd. ("Murchison" or the "Company") (MUR-TSXV) is pleased to report geophysical results on its 100% owned Brabant-McKenzie Property located 175 km northeast of La Ronge, Saskatchewan. The Company continues to advance the Brabant-McKenzie Deposit (the "Deposit") and a number of exploration targets proximal to the Deposit.

Murchison completed an extensive ground Time Domain Electromagnetic ("TDEM") survey (the "Survey") to the northeast of the TOM2 target. TOM2 was previously defined as a highly conductive (6,000 siemens) electromagnetic ("EM") and coincident magnetic ("Mag") body located in close proximity to anomalous surface geochemical values.

The Survey discovered a significant conductor ("T2T") located approximately 1.5 kilometres northeast of the TOM2 conductor and 7.0 kilometres south of the Brabant-McKenzie deposit. See Figures 1 and 2. Modelling indicates a body measuring 400 metres by 310 metres at a depth of 184 metres. The T2T EM response has a conductivity exceeding 4,400 siemens and is coincident with anomalous magnetic responses similar to the TOM2 target. In addition to the Anomaly C, D and TOM2 drill targets as well as Priority 3 anomaly, the identification of this conductor is significant because it adds another drill target to the Brabant-McKenzie project and continues to demonstrate the VMS potential of the geological horizon Murchison is exploring.

The Survey was conducted in March and April 2018 on the TOM Trend geophysical anomaly and was designed to further define a number of airborne anomalies identified from a 2011 airborne Vertical Time Domain EM survey. The program consisted of a ground EM and Mag survey covering five survey grids. The combined grids extended from the TOM2 target to the northeast for approximately 4.5 kilometres and covered approximately 40 line kilometres.

Figure 1. TOM2 and T2T Ground TDEM Anomalies

Figure 2. TOM2 and T2T Ground Magnetic Anomalies

The Company is very encouraged with these results and plans to conduct a regional summer program this year which will include detailed geological mapping, prospecting and sampling on both the TOM2 and T2T in order to further define both targets prior to the next drill program. The Company is also planning a detailed geophysical survey over the Priority 3 airborne VTEM anomaly this summer in order to further define its dimensions and conductivity. Based on results, the Company expects to include this target in its drill target inventory and to test it during the next drill program.

Update on Brabant-McKenzie Drill 2018 Program
Over 900 core samples from the 2018 winter drill program at the Brabant-McKenzie Project were sent for assay during the program and submitted to SRC Laboratories in Saskatoon, Saskatchewan. Further QAQC is currently underway and will be conducted by ALS Labs in Vancouver. The Company plans to release the full results once all assays are received and will also provide context and a comprehensive analysis of the results.

Qualifying Statement
The foregoing scientific and technical disclosures have been reviewed and approved by Kent Pearson, P. Geo., Finley Bakker, P. Geo. and Martin St-Pierre, P. Geo., who are qualified persons as defined by National Instrument 43-101. Mr. Bakker and Mr. St-Pierre are independent consultants to Murchison Minerals Ltd. and the Brabant-McKenzie Project. Mr. Pearson is President and Chief Executive Officer of Murchison Minerals Ltd.

About the Brabant-McKenzie Project
The Brabant-McKenzie project is located 175 km northeast of La Ronge, Saskatchewan and approximately 3 km from the community of Brabant Lake. The area is accessed year-round via Highway 102 and is serviced by grid power. The project consists of one mining lease which hosts the Deposit and an additional 13 contiguous mineral claims totaling 5,731 hectares which cover approximately 16 km of strike length over favourable geological horizons, multiple known mineralized showings and identified geophysical conductors.

The Brabant-McKenzie Deposit hosts an indicated resource of resource 1.5 million tonnes grading 7.46% Zn, 0.70% Cu, 0.39% Pb, 31.16 g/t Ag, 10.09% Zn equivalent and an inferred resource of 4.5 million tonnes grading 5.99% Zn, 0.62% Cu, 0.39% Pb, 19.39 g/t Ag, 7.99% Zn equivalent as disclosed in the NI 43-101 Technical Report dated November 25, 2017 and filed on SEDAR on March 13, 2018.

About Murchison Minerals Ltd.
Murchison Minerals Ltd. is a Canadian based exploration company focused on the exploration and development of the 100% owned Brabant-McKenzie zinc-copper-silver project in North-Central Saskatchewan. The Company also has the HPM nickel-copper-cobalt project in Quebec and gold projects in the Pickle Lake area of northwestern Ontario.

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

For further information, please contact:
Kent Pearson, President and Chief Executive Officer
Erik H. Martin, Chief Financial Officer
(416) 350-3776

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.

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.

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