LXM.V · 2021-03-23 12:00:00

Huntsman Hits High-Grade Nickel and Copper Mineralization Along 3 km Strike at Canegrass Nickel Sulphide Project, Western Australia

Drill Results Mine Development & Operations

Huntsman Hits High-Grade Nickel and Copper Mineralization Along 3 km

Strike at Canegrass Nickel Sulphide Project, Western Australia

Vancouver, British Columbia, March 23, 2021 – Huntsman Exploration Inc. (TSXV: HMAN;

US: BBBMF) (the “Company” or “Huntsman”) is pleased to announce the first assay results from

its Phase I, 2021 drill program at the Canegrass Nickel Sulphide project in Western Australia.

Multiple holes have intercepted Ni, Cu and Co mineralization near surface and at depth. The

successful holes are located along a 3 km strike, indicating the system has significant growth potential

(Figure 1). Of particular note, hole BBDD009 returned 41.1 m of favorable host rock with 31.2 m

being mineralized including peaks of up to 2.8% Ni, 5.7% Cu and 0.15% Co, indicating a large

layered intrusive complex. The recently comple ted 16-hole program follows up on the company’s

highly successful 2018 drilling. Furt her assays are pending, and the Company is currently in the

planning phase for the next drill program.

Core Drilling Highlights include:

Hole ID From

(m)

To (m) Length

(m)

Pt g/t Pd g/t Zone

BBDD009 278.9 294.5 15.6 0.6 0.4 0.04 Tulloch

Including 278.9 279.2 0.3 0.2 1.4 0.02 Tulloch

Including 281.0 291.1 10.1 0.9 0.3 0.06 0.08 0.08 Tulloch

Including 281.0 286.0 5.0 1.0 0.4 0.06 0.05 0.08 Tulloch

Including 285.0 286.0 1.0 2.8 0.1 0.15 0.11 0.21 Tulloch

Including 289.0 291.0 2.0 1.8 0.5 0.11 0.22 0.17 Tulloch

Including 293.8 294.5 0.7 0.5 2.3 0.04 0.33 0.04 Tulloch

Also 307.5 323.1 15.6 0.9 0.8 0.06 0.08 0.07 Tulloch

Including 312.0 315.1 3.1 2.2 0.2 0.15 0.15 0.21 Tulloch

Including 316.7 317.8 1.1 0.9 5.7 0.07 0.11 0.05 Tulloch

Including 316.7 320.0 3.3 0.8 2.4 0.06 0.09 0.06 Tulloch

RC Drilling Highlights include:

Hole ID From (m) To (m) Length (m) Ni % Cu % Zone

BBRC006 172.0 182.0 10.0 0.4 0.3 Sunline

Including 178.0 181.0 3.0 0.6 0.4 Sunline

BBRC007 197.0 215.0 18.0 0.2 0.2 Sunline

Including 201.0 203.0 2.0 0.3 0.5 Sunline

Including 210.0 214.0 4.0 0.4 0.3 Sunline

BBRC008 107.0 108.0 1.0 0.2 0.2 Winx

BBRC009 63.0 68.0 5.0 0.1 0.2 Saintly

BBRC010 143.0 145.0 2.0 0.1 0.2 Bone Crusher

BBRC011 55.0 63.0 8.0 0.4 0.2 Tobin Bronze

Including 57.0 59.0 2.0 0.7 0.3 Tobin Bronze

BBRC013 88.0 98.0 10.0 0.6 0.5 Tulloch

Including 92.0 95.0 3.0 0.8 0.7 Tulloch

BBRC014 136.0 143.0 7.0 0.6 0.4 Tulloch

Including 139.0 142.0 3.0 0.7 0.6 Tulloch

Phase I drilling intersected vari able amounts of sulphides +/- oxi des within the Layered Igneous

Complex at the Canegrass Project. This successful phase of exploration was able to display both high-

grade cores within a low-grade halo across multiple targets indicating that the Canegrass project is a

very large system to be further explored. A significant highlight was the upgrading of Tobin Bronze,

(just north of Tulloch) with BBRC011 which returned anomalous Ni and Cu from a relatively shallow

depth whereas previous drilling at Tulloch and Sunline intersected mineralization that increased with

depth.

Figure 1. Target Locations along the Ai rborne Magnetics geophysical signature at the Canegrass

Project, Western Australia

2018 drilling highlights include (see NR 03/03/21):

 BBRC001 (Winx) 14m @ 1.17% Ni, 0.88% Cu, 0.05% Co, 463ppb Pd and 375ppb Pt from

65m, including 1m @ 2.70% Ni, 0.23% Cu, 0.12% Co, 751ppb Pd and 723 ppb Pt.

 BBDD001 (Sunline) 0.57m @ 3.07 % Ni, 0.62% Cu and 0.24% Co from 144.1m.

 BBDD002 (Tulloch) 14.25m @ 0.69% Ni, 0.82% Cu and 0.05% Co from 243.2, including 4.9m @

1.33% Ni, 1.26% Cu and 0.10% Co.

Peter Dickie, President and CEO for Huntsman, commented, “ We are very pleased with this first

round of assays. Not only did we discover mineraliz ation at previously untested targets, but we hit

wide intervals of mineralization, with significant high-grade peaks at the Sunline and Tulloch targets,

where we have had tremendous success in the past. Just as importantly, we have intercepted

mineralization at the new Tobin Br onze target, which is situated between Sunline and Tulloch. This

speaks to the impressive potential for establishing a continuous trend over several km’s.”

The technical content of this news release with respect to Canegrass has been reviewed and approved

by Nathan Tribble, P.Geo., a director of the Co mpany and a Qualified Pe rson pursuant to National

Instrument 43-101. The qualified person has not yet visited the Canegrass Project and therefore has

not yet verified the data disclosed, including sa mpling, analytical, and test data underlying the

information or opinions contained in the written disclosure.

On Behalf of the Board of Huntsman Exploration Inc.

Peter Dickie

President and Chief Executive Officer

For more information, please contact 1-855-584-0160 or [email protected].

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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 release.

Forward Looking Statements: Statements contained in this news release that are not historical facts

are forward-looking statements, which are subj ect to a number of known and unknown risks,

uncertainness and other factors that may cause the ac tual results to differ materially from those

anticipated in our forward-looking statements. A lthough we believe that th e expectations in our

forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future

results, levels of activity, performance or achievements.

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