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MUR.V ·

Murchison Grants Stock Options

Share Capital & Compensation

1 | P a g e

MURCHISON MINERALS LTD. NEWS RELEASE

News Release

Murchison Grants Stock Options

December 20, 2021 (Burlington, Ontario): Murchison Minerals Ltd. (“Murchison” or the “Company”)

(TSXV: MUR) announces that the Company approved the issuance of 3,625,000 stock options to directors,

officers, employees and consultants of the Company. The options are exercisable into common shares of

the Company at a price of $0.13 expiring on December 20, 2026. The options vested immediately except

for 200,000 which will vest on May 31, 2022.

About Murchison Minerals Ltd. (TSXV: MUR)

Murchison is a Canadian‐based exploration company focused on nickel -copper-cobalt exploration at the

100%-owned HPM project in Quebec and the exploration and development of the 100%-owned Brabant Lake

zinc‐copper‐silver project in north‐central Saskatchewan. The Company also holds an option to earn 100%

interest in the Barraute VMS exploration project also located in Qu ebec, north of Val d’Or. Murchison

currently has 153.6 million shares issued and outstanding.

Additional information about Murchison and its exploration projects can be found on the Company’s

website at www.murchisonminerals.com. For further information, please contact:

Troy Boisjoli, President and CEO or

Erik H Martin, CFO

Tel: (416) 350‐3776

[email protected]

CHF Capital Markets

Thomas Do, IR Manager

Tel: 416-868-1079 x 232

[email protected]

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.