Announcement • May 11
Brunswick Exploration Inc. Announces Additional Results from 2026 Winter Drilling Campaign at Anatacau Main Project Brunswick Exploration Inc. announced additional results from the 2026 winter drilling campaign at the Anatacau Main Project, located in the Eeyou Istchee-James Bay region of Quebec where the Company continues to intersect multiple new, large and well mineralized pegmatites to the east of the main Anais pegmatite. Highlights include: 1.10% Li2O over 17.7 meters in drill hole AN-26-08 within a larger package of continuous lithium mineralization (present within both country rock and pegmatites) of 123 metres at 0.72% Li2O. Among the highest-grade and longest cesium intercepts reported in the James Bay with values up to 11.8 meters at 1.84% Cs2O. The mineralized pegmatite zone hosted within the structural corridor, which includes the Anais pegmatite, now extends over 500 meters to the East and remains open. All new pegmatites reported remain open in all directions. Table 1: Mineralized Intercepts from Drilling Program at Anatacau Main Hole ID From To Length (m) Li2O (%) Ta2O5 (ppm) Cs2O (%) AN-26-08 21.2 29.3 8.1 0.83 242 0.64 incl. 23.9 26.3 2.4 0.67 523 1.37 and 43.35 48.2 4.85 0.82 55 0.40 and 71.0 194.0 123.0 0.72 196 0.56 incl. 94.9 112.6 17.7 1.10 282 0.73 incl. 127.00 137.00 10.00 1.04 78 0.20 incl. 155.6 160.5 4.9 1.15 412 0.40 incl. 178.7 190.5 11.8 0.71 405 1.84 AN-26-09 213.8 218.1 4.4 1.16 352 0.06 and 227.3 261.0 33.7 1.17 365 0.39 incl. 227.3 233.0 5.7 1.25 334 0.57 incl. 236.0 242.0 6.0 1.38 428 0.77 incl. 247.0 251.0 4.0 1.82 427 0.37 incl. 254.0 257.0 3.0 1.95 288 0.30 AN-26-10 50.1 60.0 9.9 0.58 47 0.30 incl. 50.1 53.0 2.9 0.90 41 0.21 and 63.0 71.0 8.0 0.59 343 1.11 incl. 63.0 65.0 2.0 1.59 413 1.99 The true thickness of the Anais dyke is estimated to be approximately 70%. These three holes were designed in a fence pattern, each spaced 150 meters apart, and confirmed the continuity of the mineralized zone, which has now been extended more than 370 meters eastward from the main Anais pegmatite dike. The new dikes, sub-parallel to the Anais dike, form an extensive mineralized corridor that has now been drill-traced over 500 meters. The stacked dike structural control is very similar to that of the Galaxy Rio Tinto deposit. All intersected dikes remain open in all directions and interpreted to dip at 85° to the west. Hole AN-26-08 intersected dozens of mineralized pegmatites including a large package of continuous lithium mineralization of 123 meters at 0.72% Li2O. This lithium mineralization is observed in both the pegmatites and the country rock (meta-volcanic rocks). High lithium values observed in country rock are usually associated with abundant holmquistite (e.g. from 127 to 137 meters at 1.04% Li2O). Pegmatite intervals in this large package contain up to 1.15% Li2O over 4.85 meters and 1.1% Li2O over 17.7 meters. Hole AN-26-09 intersected multiple sub-parallel dykes including a wide pegmatite interval of 33.7 meters at 1.17% Li2O. Within this interval (from 227.3 to 261 meters) Li2O values were observed up to 1.82% and 1.95% Li2O, over 4 and 3 meters respectively. Hole AN-26-10 intersected two lithium bearing pegmatites near surface including 2.9 meters at 0.9% Li2O and 2 meters at 1.59% Li2O. Assays for pegmatite intervals intersected deeper in this hole are pending. The most recent drill holes also intersected multiple intervals of high tantalum and cesium values up to 1.84% Cs2O over 11.8 meters in Hole AN-26-08 including one assay that returned 4.6% Cs2O. Pollucite was visually identified in drill core in multiple pegmatites and correlates with the high cesium values. The mineralized dykes discovered at Anatacau to date straddle the southern side of an interpreted major deformation zone, striking northwest-southeast; a structural control that is reminiscent of the Galaxy deposit. This finding is significant as it confirms that mineralization is constrained to the same structural corridor that is found at Rio Tinto’s Galaxy project (54.3Mt M&I at 1.30% Li2O and 55.9Mt Inferred at 1.29% Li2O, see Note) and BRW’s Anatacau West project which is immediately contiguous to Rio Tinto’s claim package, located approximately 20 kilometers to the west of Anais. To date, the company has disclosed results from 4 of the 7 drill holes completed during the 2026 winter campaign, totaling 1,109 meters. The final three drill holes have identified additional pegmatites in the area. Results from these holes are pending and will be announced by BRW as soon as they become available. Table 2: Drill Hole Collars (UTM Nad83, Zone 18N) Drill Holes Azimuth Dip Length (m) UTM X UTM Y Elevation (m) AN-26-08 110 -48 252 380461 5784570 206 AN-26-09 110 -48 282 380621 5784515 209 AN-26-10 80 -48 245 380754 5784470 209 All drill core samples were collected under the supervision of BRW employees and services contractor Explo-Logik, applying industry-standard QA/QC procedures to its drilling and prospecting programs. All sample preparation and analytical work was performed by Agat Laboratories. Samples were prepared with methods 200075 and 200087 and dissolved in a sodium peroxide solution, prior to multielement analysis by ICP-OES and ICP-MS according to the Agat method 201378. All results passed the QA/QC screening at the laboratory, and all inserted standard, duplicates and blanks returned results within acceptable limits. All reported drill intersections are calculated on the basis of a lower cutoff grade of 0.30% Li2O. The scientific and technical information contained in this press release has been reviewed and approved by Mr. François Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101. New Risk • May 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$8.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$8.3m free cash flow). Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (CA$57.9m market cap, or US$42.3m). Announcement • Apr 17
Brunswick Exploration Drills 90.5 Meters at 1.31% Li2O at Anatacau Project Brunswick Exploration Inc. announced initial results from the 2026 winter drilling campaign at the Anatacau Main Project, located in the Eeyou Istchee-James Bay region of Quebec. This campaign was designed to confirm the down-dip and lateral extensions of the Anais Main dyke at depth and extend the pegmatite trend to the east. Highlights include: 1.31% Li2O over 90.5 meters in drill hole AN-26-07 within a larger package of continuous lithium mineralization (present within both country rock and pegmatites) of 167.9 meters at 1.02% Li2O. A newly discovered dyke was identified below from the Anais Main which measured 6.8 meters grading 1.52% Li2O. The Anais Main dyke is now defined to a vertical depth of 190 meters. It and all other dykes reported remain open in all directions. Table 1: Mineralized Intercepts from Drilling Program at Anatacau Main: Hole ID AN-26-07 From 98.8 To 105.7 Length 6.9 Li2O 1.52% Ta2O5 173 ppm; and From 124.7 To 292.6 Length 167.9 Li2O 1.02% Ta2O5 84 ppm; incl. From 124.7 To 142.9 Length 18.2 Li2O 1.15% Ta2O5 165 ppm; incl. From 202.1 To 292.6 Length 90.5 Li2O 1.31% Ta2O5 99 ppm; incl. From 202.1 To 260.6 Length 58.5 Li2O 1.60% Ta2O5 83 ppm; incl. From 277.6 To 284.4 Length 6.8 Li2O 1.52% Ta2O5 226 ppm. AN-26-08 Assays Pending. The true thickness of the Anais dyke is estimated to be approximately 60%. The continuity of the Anais dyke at depth has been confirmed and is now defined to a maximum vertical depth of 190 meters, remaining open in all directions. The main Anais dyke extends over 250 meters in strike length and the dyke is interpreted to be gently folded, oriented North-South to Northeast-Southwest, dipping at 85° to the west. It is hosted within highly folded and sheared meta-volcanic rocks. The mineralized dykes discovered at Anatacau to date straddle the southern side of an interpreted major deformation zone, striking northwest-southeast; a structural control that is reminiscent of the Galaxy deposit. The mineralized pegmatite dykes appear to be oriented parallel to the Anais dyke and intrude mostly meta-volcanic rocks with one in metasedimentary rocks. This finding is significant as it confirms that mineralization is constrained to the same structural corridor that is found at Rio Tinto’s Galaxy project and BRW’s Anatacau West project which is immediately contiguous to Rio Tinto’s claim package, located approximately 20 kilometers to the west of Anais. Drilling at Anatacau continues to the east, where no previous drilling has been conducted, and all targets remain open. Results will be announced by Brunswick as soon as they become available. Table 2: Drill Hole Collars (UTM Nad83, Zone 18N): Drill holes AN-26-07 Azimuth 120 Dip -48 Length 330 UTM X 380260 UTM Y 5784661 Elevation 204; AN-26-08 Azimuth 110 Dip -48 Length 252 UTM X 380461 UTM Y 5784570 Elevation 208. Two initial diamond drill holes were completed for a total of 582 meters and both intercepted mineralized pegmatites. Approximately 1,500-metres (of NQ core) was drilled in the winter campaign consisting of seven inclined holes averaging 200 meters each. The priority of the 2026 drilling campaign is to expand the Anais showing where mineralization has been intersected in all previous holes as it remains open at depth and along strike in all directions. Several holes are also planned to the east to test the deformation corridor for further mineralized pegmatites. Brunswick Exploration discovered the Anais showing in 2023, which consists of several parallel pegmatite dykes with visible spodumene mineralization. Brunswick Exploration’s previous drill campaign at Anatacau Main in 2025 revealed high-grade Li2O values of 1.53% over 53.9 meters along with high values of tantalum and cesium. All drill core samples were collected under the supervision of BRW employees and services contractor Explo-Logik, applying industry-standard QA/QC procedures to its drilling and prospecting programs. All sample preparation and analytical work was performed by Agat Laboratories. Samples were prepared with methods 200075 and 200087 and dissolved in a sodium peroxide solution, prior to multielement analysis by ICP-OES and ICP-MS according to the Agat method 201378. All results passed the QA/QC screening at the laboratory, and all inserted standard, duplicates and blanks returned results within acceptable limits. All reported drill intersections are calculated on the basis of a lower cutoff grade of 0.30% Li2O. The scientific and technical information contained in this press release has been reviewed and approved by Mr. François Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101. 
