Mr. Paul Sobie reports

CHURCHILL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO C$1 MILLION OF FLOW-THROUGH SHARES

Churchill Resources Inc. has arranged a best efforts, non-brokered private placement of up to $1-million from the sale of up to 9,090,909 common shares in the capital of the company, each to be issued on a flow-through basis (within the meaning of the Income Tax Act (Canada)) at a price of 11 cents.

The company intends to use the gross proceeds from sale of the FT shares for exploration activities on the company's key projects located in Newfoundland and Labrador, and to incur eligible Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) that will qualify for the federal 30 per cent critical mineral exploration tax credit.

The offering is scheduled to close on or around June 12, 2023, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The company may pay a cash fee to certain eligible finders of up to 5 per cent of the aggregate gross proceeds of subscriptions facilitated by such finders pursuant to the offering.

About Churchill Resources Inc.

Churchill Resources is a Canadian exploration company focused on high-grade, magmatic nickel sulphides in Canada, principally at its prospective Taylor Brook and Florence Lake properties in Newfoundland and Labrador. The Churchill management team, board and its advisers have decades of combined management experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill's Taylor Brook and Florence Lake projects have the potential to benefit from the province's large and diversified minerals industry, which includes world-class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.

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