Brunswick Exploration Files Maiden Mineral Resource Estimate NI 43-101 Technical Report for Mirage Project
Brunswick Exploration Files Maiden Mineral Resource Estimate NI 43-101
Technical Report for Mirage Project
MONTREAL, Feb. 27, 2026 -- Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; “BRW” or
the “Company”) is pleased to announce that it has filed on SEDAR the “NI 43-101 Technical Report for the Mirage Maiden
Mineral Resource Estimate, Eeyou Istchee James Bay, Quebec, Canada”, with an effective date of January 7, 2026. The
Mineral Resource Estimate (“MRE”) was prepared in accordance with the National Instrument (“NI”) 43-101 standards by PLR
Resource Inc. and Synectiq Inc.
The full technical report is now available on SEDAR+ under Brunswick’ profile, as well as on the Company’s website. The key
results of this Maiden Mineral Resource Estimate were summarized in Brunswick’s press release dated January 8, 2026 and
are also presented below.
Mr. Killian Charles, President and CEO of BRW, commented: “Brunswick Exploration remains one of the most compelling
companies in the lithium space through the unique combination of advanced exploration in Quebec at both Mirage and
Anatacau alongside an exciting global grassroot exploration program. I wish to thank the team and our consultants for this
momentous achievement.”
Highlights include:
• Inferred resource of 52.2Mt at 1.08% Li2O and 131ppm Ta2O5 (see Table 1) at a cut-off grade of 0.5% Li2OEq for
total contained lithia in excess of 550,000 tonnes. This places Mirage among the largest undeveloped hard rock lithium
resources in the Americas.
• Additional Exploration Target of 40Mt to 50Mt grading between 0.80% and 1.10% Li2O and 120ppm and
145ppm Ta2O5 indicating a significant opportunity for continued near-term growth at Mirage. The potential quantity and
grade are conceptual in nature. There has been insufficient exploration to define a mineral resource and that it is
uncertain if further exploration will result in the target being delineated as a mineral resource.
• The maiden resource and Exploration Target are confined to a core area measuring approximately 1.5 by
3.0 kilometers. Substantial exploration potential exists both across this area, as seen in the Exploration Target, and
further along strike, throughout the rest of the property where lithium mineralization is observed up to 3.5km from the
MRE area.
• Over 70% of the MRE is contained within five dykes found above a vertical depth of 150 meters from surface, all of
which remain open in several directions.
• Metallurgical testwork demonstrates the potential for a dense media separation (“DMS”) only processing flowsheet,
producing a high-quality concentrate.
• The maiden MRE and Exploration Target were estimated after only 23,626 meters of drilling and 62 channel samples,
significantly less than its peer group and similar projects.
Table 1 : Mirage Project Deposit In-pit Mineral Resource Estimate
Inferred
Cut-off Grade
(%)
Tonnes
(t)
Grade
(Li2O %)
Grade
(Ta2O5 ppm) Li2O (t)
0.40% Li2OEq 57 400 000 1.02 127 585 000
0.50% Li2OEq 52 200 000 1.08 131 563 000
0.60% Li2OEq 50 000 000 1.12 135 561 000
1. The independent qualified persons for the MRE, as defined by National Instrument (“NI”) 43-101 guidelines, is Pierre
Luc Richard, P.Geo., of PLR Resources Inc., with contributions from Patrick Frenette, P.Eng., of Synectiq Inc. for cut-
off grade estimation and open pit optimization.
2. These Mineral Resources are not mineral reserves as they have no demonstrated economic viability. No economic
evaluation of these Mineral Resources has been produced. The quantity and grade of reported Inferred Resources in
this MRE are uncertain in nature and there has been insufficient drilling to define these Inferred Resources as
Indicated. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to
Indicated category with continued drilling.
3. The Qualified Persons are not aware of any known environmental, permitting, legal, title-related, taxation, socio-
political, marketing or other relevant issues that could materially affect the Mineral Resource Estimate.
4. Calculations used metric units (metres, tonnes). Metal contents in the above table are presented in percentages, part
per million (gram per tonne) and tonnes. Metric tonnage was rounded, and any discrepancies in total amounts are due
to rounding errors.
5. CIM definitions and guidelines for Mineral Resource Estimates have been followed.
6. Resources are presented as undiluted and in situ for the open-pit scenario within 5m x 5m x 5m blocks. The
constraining pit shell was developed using overall pit slopes of 53 degrees. The pit optimization to develop the mineral
resource-constraining pit shell was done using the pseudoflow algorithm in Deswik software (see Figure 2).
7. The MRE wireframe was prepared using Leapfrog Edge v.2025.1.1 and is based on 132 drill holes and four trenches,
totalling 23,626 meters and 8,288 assays. The cut-off date for the drill hole database was December 9, 2025.
8. Composites of one metre were created inside the mineralization domains. High-grade capping was done on the
composited assay data. Depending on individual statistical study for each zone, composites were capped between
1.50% Li2O and 4.50% Li2O and between 200ppm Ta2O5 and 900ppm Ta2O5.
9. Pit constrained Mineral Resource for the base case is reported at a cut-off grade of 0.50% Li2OEq. The cut-off grades
may be re-evaluated in the future based on prevailing market conditions and costs. A ratio Ta2O5 to Li2O of
0.00008658 (based on selling price, recoveries and other variables) was used to obtain the Li2OEq grade used in the
cut-off.
10. Specific gravity values were estimated using data available in the drill hole database. Density values where interpolated
when data was sufficient to do so, and completed with fixed values. Density values between 2.57 g/cm3 and 2.90
g/cm3 were applied to the model for different domains and 2.00 g/cm3 for overburden.
11. Grade model resource estimation was calculated from drill hole data using an Ordinary Kriging interpolation method in a
sub-blocked model using blocks measuring 5m x 5m x 5m in size and sub-blocks down to 0.625m x 0.625m x
0.625m. Ordinary kriging (OK), inverse square distance (ID2), Nearest neighbour (NN) interpolation methods were
tested, resulting in no material difference in the Mineral Resource Estimates.
12. The Inferred Mineral Resource categories are constrained to areas where drill spacing is less than 150 metres and
show reasonable geological and grade continuity. Cookie cutters were used to define categories based on the above
parameters.
13. Effective date of the Mineral Resource Estimate is 7 January 2026
Figure 1: BRW Quebec Portfolio
Qualified Person
The scientific and technical information contained in this press release has been reviewed and approved by Mr. Simon T.
Hébert, VP Development. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by
National Instrument 43-101. The independent qualified persons for the MRE, as defined by National Instrument (“NI”) 43-101
guidelines, is Pierre Luc Richard, P.Geo., of PLR Resources Inc., with contributions from Patrick Frenette, P.Eng., of
Synectiq Inc. for cut-off grade estimation and open pit optimization, and from Jarrett Quinn, P.Eng., of Synectiq Inc. for
metallurgical aspect.
About Brunswick Exploration Inc.
Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The
Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and
energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Canada,
Greenland and Saudi Arabia underpinned by its Mirage project, one of the largest undeveloped hard-rock lithium Inferred
Mineral Resource Estimate in the Americas, with 52.2Mt grading 1.08% Li2O.
Investor Relations/information
Mr. Killian Charles, President and CEO
Phone: 514 861 4441
Email: [email protected]
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
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation
based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves
risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results
to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain
required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; 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 Corporation believes that the assumptions
and factors used 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 date of this news release, and no assurance can be given 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 events or otherwise, other than as
required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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