TSX-V: MUR

Investors

2018 News

May 8, 2018 (Toronto, Ontario): Murchison Minerals Ltd. (the "Company") (MUR-TSXV) is pleased to provide an exploration update for the Brabant-McKenzie project located 175 km northeast of La Ronge in Saskatchewan. The Company completed its winter drill program at the end of March for a total 12,431 metres in 25 holes. The program focused on three drill targets, the Brabant-McKenzie Deposit (the "Deposit"), Anomaly C and Anomaly D.

Brabant-McKenzie Deposit

The drill program on the Deposit was designed to potentially expand the tonnage of the current inferred resource and, where possible, infill and upgrade inferred resources to the indicated category. The program was also designed, where possible, to identify higher grade areas of the Deposit. The Company completed 19 diamond drill holes for a total of 9,004 metres from three drill pads - A, B and C. (See Figure 1 and Table 1)

Four holes were drilled from Pad A and focused on the untested areas on the northern edge of the Deposit.

Six holes were drilled from Pad B and were designed to test both the lateral areas of the Deposit as well as a polymetallic zone located stratigraphically above the main mineralized zones. This zone could not be included in the November 2017 NI 43-101 resource estimate as the continuity of mineralization was not fully understood. The program's objective for these holes was to demonstrate enough mineral continuity in the zone to allow for the potential calculation of a resource estimate.

Nine holes were drilled from Pad C and focused laterally and on the previously untested area down dip from the bottom of the Deposit at approximately 600 metres towards last year's BM17-09 drill hole where mineralization was intercepted at approximately 950 metres.

Figure 1. View of 2018 Drill Hole Traces on Brabant-McKenzie Deposit

Anomaly C and Anomaly D

Anomaly C and D were identified as new drill targets from the 2017 geophysical and prospecting programs. The Company completed approximately 3,427 metres in six diamond drill holes on both targets. See Figure 2, Figure 3 and Table 1.

Anomaly C conductor plate is located approximately 1.4 kilometres south of the Deposit. Approximately 1,215 metres were completed in two drill holes on this target. The plate top edge begins at approximately 300 metres below surface. The program was designed to test the highest conductivity and any associated sulphide mineralization within the modelled conductor plate.

Figure 2. View of 2018 Drill Hole Traces on Anomaly C

Anomaly D conductor plate is a near-surface target located approximately 1.5 kilometres southeast of the Deposit. The plate top edge begins at 20 metres below surface. Anomaly D is a high conductivity target (2,300 seimens) and similar in dimensions to the Deposit, measuring approximately 800 metres by 800 metres. The Company completed approximately 2,212 metres in four drill holes from two drill pads. The program was designed to test for sulphide mineralization associated with increasing conductivity at depth within the modelled conductor plates.

Figure 3. View of 2018 Drill Hole Traces on Anomaly D

Over 900 core samples were sent for assay during the program and submitted to SRC Laboratories in Saskatoon, Saskatchewan. Further QAQC will be undertaken 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 by Kent Pearson, P. Geo., Finley Bakker, P. Geo. and Martin St-Pierre, P. Geo., 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 1.5 million tonnes grading 7.46% Zn, 0.70% Cu, 0.39% Pb, 31.16 g/t Ag, 10.09% Zn Eq 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 Eq as disclosed in the 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 project in North-Central Saskatchewan. The Company also has a diversified portfolio of properties including 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
or
Erik H. Martin, Chief Financial Officer
info@murchisonminerals.com
(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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