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MURCHISON MINERALS LTD. CONFIRMS WIDESPREAD NICKEL-COPPER-COBALT SURFACE MINERALIZATION AT ITS PYC TARGET WITH GRADES UP TO 1.27% NICKEL EQUIVALENT (2.59% COPPER EQUIVALENT)

August 16, 2021 (Toronto, Ontario): Murchison Minerals Ltd. (“Murchison” or the “Company”) (TSXV: MUR) is pleased to announce that it has received assay results from its June prospecting program at the PYC target area on the 100%-owned HPM (Haut-Plateau de la Manicouagan) property in Quebec. These results, shown in Figure 1, confirm widespread nickel-copper-cobalt surface mineralization across the entirety of the traced 1.7 km strike length of sulphide mineralization (see June 29, 2021 release).

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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 Quebec, north of Val d’Or. Murchison currently has 160.1 million shares issued and outstanding.

Murchison Minerals