The common shares were purchased at a price of $0.155 per share for total

PRESS RELEASE REGARDING ACQUISITION OF MURCHISON MINERALS

COMMON SHARES

July 28, 2017 (Toronto, Ontario): Donald K. Johnson, an insider of Murchison

Minerals Ltd. (CSE: MUR) (the “Issuer”), today announced the acquisition of 766,000

common shares of the Issuer pursuant to a private agreement on July 27, 2017.

The common shares were purchased at a price of $0.155 per share for total

consideration of $118,730. The common shares acquired by Mr. Johnson represent

approximately 3.0% of the issued and outstanding common shares of the Issuer.

Prior to this acquisition, Mr. Johnson directly and indirectly owned 8,608,495 common

shares of the Issuer, representing approximately 34.04% of the issued and outstanding

common shares of the Issuer (9,985,295 common shares and 37.44%, respectively,

assuming the exercise of the convertible securities described below). After the

completion of the share purchase, Mr. Johnson now directly and indirectly owns

9,374,495 common shares representing approximately 37.07% of the issued and

outstanding common shares, together with options and warrants to acquire an

aggregate of 1,376,800 common shares of the Issuer. If Mr. Johnson were to exercise

these convertible securities, he would own, directly and indirectly, 10,751,295 common

shares of the Issuer, representing approximately 40.32% of the Issuer’s then-

outstanding common shares, on a partially diluted basis.

Mr. Johnson acquired the common shares in reliance on the “private agreement

exemption” under section 4.2(1) of National Instrument 62-104 –Take-Over Bids and

Issuer Bids. The common shares were acquired from a single vendor and at a price per

common share not exceeding 115% of the market price of the common shares, as

determined in accordance with applicable securities laws.

The common shares were acquired for investment purposes. Mr. Johnson may, from

time to time, depending on market and other conditions, increase or decrease his

beneficial ownership, control or direction over securities of the Issuer through market

transactions, private agreements or otherwise.

This press release is being issued pursuant to National Instrument 62-103 – The Early

Warning System and Related Take-Over Bid and Insider Reporting Issues which

requires a report to be filed under the Issuer's profile on SEDAR (www.sedar.com)

containing additional information respecting the foregoing matters. A copy of such report

may be obtained by contacting Erik Martin at Murchison Minerals Ltd., Suite 2500, 120

Adelaide Street West, Toronto, ON M5H 1T1.