Brunswick Exploration Announces $2.64 Million Non-Brokered Private Placements

BRUNSWICK EXPLORATION ANNOUNCES

$2.64 MILLION NON-BROKERED PRIVATE PLACEMENTS

Montreal, Quebec - November 17, 2020 – Brunswick Ex ploration Inc. (“Brunswick” or the

“Corporation”) (TSX-V : BRW ) is pleased to announce non-brokered private placements of up to $2.64

million, consisting of (i) 5,000,000 units of the Corporation (each, a " Unit ") at a price of $0.22 per Unit,

for gross proceeds of up to $1.1 million and (ii) 7 ,000,000 Canadian flow-through shares of the

Corporation (the “ FT Shares ”), at a price of $0.22 per FT Share, for gross proceeds of up to $1.54 million

(collectively, the " Offerings").

Each Unit will consist of one common share of the Corporation (each, a " Common Share ") and one-half

of one common share purchase warrant of the Corpora tion (each whole warrant, a " Warrant "). Each

Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.28 for a 24-month

period following the closing date of the Offerings.

The net proceeds from the Offerings will be used fo r the exploration of newly acquired New Brunswick

properties ($1.54 million), as well as general corporate purposes ($1.1 million).

The Offerings are available to accredited investors and existing shareholders of the Corporation, subject

to certain limitations outlined below, to ensure all shareholders may have the opportunity to participate.

The Offerings are expected to close on or about Dec ember 18, 2020 or such other date as the

Corporation may determine. The Offerings are condit ional upon receipt of all required regulatory

approvals, including the approval of the TSX Ventur e Exchange. The securities to be issued under the

Offerings will have a hold period of four months an d one day from the closing date of the Offerings, i n

accordance with applicable securities laws.

Additional information for existing shareholders relying on the Existing Shareholder Exemption

Shareholders of record of the Corporation as at Nov ember 17, 2020 (the “ Record Date ”), who are not

accredited investors, are eligible to participate i n the Offerings under the “Existing Shareholder

Exemption”, available under Canadian securities law s. The Existing Shareholder Exemption limits a

shareholder to a maximum investment of $15,000 in a 12-month period from the date of closing of the

Offerings, unless the shareholder has obtained advi ce regarding the suitability of the investment and, if

the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that

is registered as an investment dealer in the jurisd iction. Any person who becomes a shareholder of the

Corporation after the Record Date is not permitted to participate in the Offering using the Existing

Shareholder Exemption, however other exemptions may still be available to them. Non-Accredited

shareholders who became shareholders after the Record Date should consult their professional advisors

when completing their subscription form to ensure that they use the correct exemption. The Corporation

confirms there is no material fact or material chan ge relating to the Corporation that has not been

generally disclosed.

The Offerings are subject to a minimum subscription of $2,000. Subscriptions received from existing

shareholders relying on this exemption will be treated on a first come first serve basis. In the event of an

oversubscription to the Offerings, the Corporation may seek TSX-V approval for such oversubscription

or may allocate Units or FT Shares on a pro-rata basis amongst all subscribers qualifying under all

available exemptions.

Any investor or existing shareholders should contact the Corporation no later than November 25, 2020 if

they have any questions or have an interest in participating in the Offerings.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be

any sale of any of the securities in any jurisdicti on in which such offer, solicitation or sale would be

unlawful, including any of the securities in the Un ited States of America. The securities have not bee n

and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act ")

or any state securities laws and may not be offered or sold within the United States or to, or for account

or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under th e

1933 Act and applicable state securities laws, or a n exemption from such registration requirements is

available.

About Brunswick

Brunswick is a Montreal-based mineral exploration corporation listed on the TSX-V under symbol BRW.

It has put its African assets for sale and is now focused on exploration and development of gold and base

metal properties in Eastern Canada. Its short-term focus will be exploration for base metals in the

Chibougamau region of Quebec and the Bathurst Camp in northern New Brunswick.

Investor Relations/information:

Mr. Killian Charles, President ([email protected]).

Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in policies

of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking informa tion" within the meaning of applicable Canadian sec urities

legislation based on expectations, estimates and pr ojections as at the date of this news release. Forw ard-looking

information involves risks, uncertainties and other factors that could cause actual events, results, p erformance,

prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.

Factors that could cause actual results to differ m aterially from such forward-looking information inc lude, but are

not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical

test results; delays in obtaining or failures to ob tain required governmental, environmental or other project

approvals; uncertainties relating to the availabili ty and costs of financing needed in the future; cha nges in equity

markets; inflation; fluctuations in commodity price s; 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 Corpo ration believes that the assumptions and factors us ed 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 d ate of this news release, and no assurance can be g iven 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 ev ents or

otherwise, other than as required by law.