Murchison Minerals Retains CHF Capital Markets

TORONTO, July 20, 2020 - Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) today announced that it has engaged CHF Capital Markets ("CHF"), a highly-regarded Canadian investor relations and capital markets firm.

Jean-Charles Potvin, President and CEO of Murchison, commented: "Murchison just announced the commencement of our summer exploration program at the Brabant Lake project in Saskatchewan, and we will also be doing some work on our HPM project in Quebec, so we expect a good news flow in the coming months. We feel that now is the right time for us to connect with a broader network of mining-savvy investors and investment advisors to get more eyes on the story. We are delighted to be working with Cathy and her team at CHF, whose solid connections, knowledge and professionalism will serve Murchison well, as we continue exploration activities on our exciting properties."

Effective immediately, the service agreement with CHF for investment community outreach, corporate communications, stakeholder engagement, and social & digital marketing is for a fixed term of twelve months ending July 14, 2021. Thereafter, the contract may be extended month to month with a two months' cancellation notice. Under the terms of the agreement, which is subject to TSX Venture Exchange approval, CHF will receive $6,000 per month in fees, reimbursement of approved expenses and 400,000 stock options exercisable at $0.10 cents for a period of 5 years. The options will vest over 12 months with 25% every three months. Upon termination of the services agreement, stock options will be cancelled after 30 days, as required by the TSXV.

About Murchison Minerals Ltd.

Murchison is a Canadian?based exploration company focused on the exploration and development of the 100%-owned Brabant?McKenzie zinc?copper?silver deposit and surrounding land package in north?central Saskatchewan. The Company also has a 100% interest in the HPM nickel?copper?cobalt project in Quebec.

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:

Jean?Charles (JC) Potvin, President and CEO
Email: jcpotvin@murchisonminerals.com

CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x231
Email: cathy@chfir.com

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.

SOURCE: Murchison Minerals Ltd.