TECHNICAL REPORT ON THE RESOURCE ESTIMATE UPDATE FOR THE BRABANT-MCKENZIE PROPERTY, BRABANT LAKE, SASKATCHEWAN, CANADA FOR MURCHISON MINERALS LTD. OCTOBER 27, 2018 Prepared by: Finley Bakker, P.Geo., Kent Pearson, P.Geo. TECHNICAL REPORT ON THE RESOURCE ESTIMATE UPDATE FOR THE BRABANT-MCKENZIE PROPERTY, BRABANT LAKE, SASKATCHEWAN, CANADA FOR MURCHISON MINERALS INC. Toronto, Ontario, Canada Effective Date: September 4, 2018 TECHNICAL REPORT ON THE RESOURCE ESTIMATE UPDATE FOR THE BRABANT-MCKENZIE PROPERTY, BRABANT LAKE, SASKATCHEWAN, CANADA FOR MURCHISON MINERALS LTD., Toronto, Ontario, Canada; Effective Date: September 4, 2018 CONTENTS 1. Summary ............................................................................................................................... 1 2. IntrodUction .......................................................................................................................... 6 3. Reliance on Other Experts .................................................................................................... 8 4. Property Location and Description....................................................................................... 8 4.1 Location .......................................................................................................................... 8 4.2 Property ........................................................................................................................ 11 4.3 History of Claims ........................................................................................................... 14 4.4 Environment and Socio-Economic IssUes ..................................................................... 19 4.5 Surface Rights ............................................................................................................... 20 4.6 Work Permits ................................................................................................................ 20 5. Accessibility, Climate, Local Resources, InfrastructUre, and Physiography ....................... 21 5.1 Accessibility .................................................................................................................. 21 5.2 Climate .......................................................................................................................... 21 5.3 Local ResoUrces and InfrastrUctUre .............................................................................. 21 5.4 Physiography, Flora and FaUna .................................................................................... 22 6. History ................................................................................................................................ 23 7. Geological Setting and Mineralization ............................................................................... 34 7.1 Regional Geology .......................................................................................................... 34 7.2 Property Geology .......................................................................................................... 37 7.3 Lithologies .................................................................................................................... 39 8. Deposit Types ..................................................................................................................... 40 8.1 Deposit Classification ................................................................................................... 43 8.2 Mineralization .............................................................................................................. 44 8.3 StructUre ....................................................................................................................... 46 8.4 Alteration ...................................................................................................................... 47 9. Exploration Undertaken by MUrchison .............................................................................. 47 10. Drilling ................................................................................................................................ 49 11. Sample Preparation, Analyses and SecUrity ....................................................................... 52 12. Data Verification ................................................................................................................. 53 12.1 Verification and Results ................................................................................................ 53 12.2 DiscUssion of Results .................................................................................................... 63 13. Mineral Processing and MetallUrgical Testing ................................................................... 63 i 14. Mineral Resource Estimates ............................................................................................... 64 14.1 IntrodUction .................................................................................................................. 64 14.2 Database ....................................................................................................................... 64 14.3 Data Verification ........................................................................................................... 64 14.4 Domain Interpolation ................................................................................................... 65 14.5 Lens/Rock Code ............................................................................................................ 67 14.6 Composites ................................................................................................................... 67 14.7 Grade Capping .............................................................................................................. 68 14.8 Variography .................................................................................................................. 68 14.9 BUlk Density .................................................................................................................. 71 14.10 Block Model .................................................................................................................. 71 14.11 ResoUrce Classification ................................................................................................. 71 14.12 ResoUrce Estimate ........................................................................................................ 73 14.13 CalcUlation of CUt-off ................................................................................................... 74 14.14 Confirmation of Estimate ............................................................................................. 78 14.15 DiscUssion of Results .................................................................................................... 78 15. Mineral Reserve Estimates ................................................................................................. 82 16. Mining Methods ................................................................................................................. 82 17. Recovery Methods.............................................................................................................. 82 18. Property InfrastructUre ...................................................................................................... 82 19. Market StUdies and Contracts ............................................................................................ 82 20. Environmental StUdies, Permitting and Social or CommUnity Impact ............................... 82 21. Capital and Operating Costs ............................................................................................... 82 22. Economic Analysis .............................................................................................................. 82 23. Adjacent Properties ............................................................................................................ 82 24. Other Relevant Data and Information................................................................................ 83 25. Interpretation and ConclUsions .......................................................................................... 83 26. Recommendations.............................................................................................................. 84 27. References .......................................................................................................................... 88 Statement of QUalifications – Finley J. Bakker ............................................................................. 92 Statement of QUalifications – Kent Pearson ................................................................................. 94 Appendices .................................................................................................................................... 96 Appendix I Plan View of Deposit by Elevation and % Zinc EqUivalent Grade Shell .................. 96 ii TABLES Table 1.1 Indicated and Inferred ResoUrce Table............................................................... 2 Table 2.1 List of Abbreviations ........................................................................................... 7 Table 4.1 Effective Dates and ReqUired Assessment and Assessment Credits for M.L. 5054 and the Mineral Claims as of the Effective Date of this Report .............. 12 Table 4.2