Mr. Paul Sobie reports

CHURCHILL ANNOUNCES HIGHLY ANOMALOUS NI-CU-CO SOIL SAMPLE ON THE MARGIN OF THE TAYLOR BROOK GABBRO COMPLEX

Churchill Resources Inc. has released early results from its regional soil sampling work this summer on the Taylor Brook project. The soil program this year was designed as a first-pass survey along approximately eight kilometres of the unsampled Layden intrusive trend (LIT), as well as the adjacent, approximately 12 km long, western margin of the Taylor Brook gabbro complex (TBGC), with 50-metre-spaced sample stations on 200 m spaced grid traverses.

Soil sample 884693 located on the margin of the TBGC south lobe returned highly anomalous values of 584 parts per million (ppm) nickel (Ni), 1,172 ppm copper (Cu) and 0.064 per cent cobalt (Co).

Paul Sobie, chief executive officer of Churchill, stated: "This soil anomaly is the first sign of the TBGC south lobe being mineralized, as it has never been explored. We have been intrigued, since initial review of the project with Altius in 2020, by the very strong magnetic and gravity signatures of the south lobe, and its rifted continental margin setting. Subsequent work by Churchill has defined similar age and petrographic relationships between the south lobe and the LIT, host to the high-grade magmatic nickel mineralization at the Layden gabbronorite. The Ni, Cu and Co results for sample 884693 represent the best soil assays acquired to date on the project, with the cobalt assay equaling tenors seen previously only in the Layden high-grade massive sulphide samples. The Cu and Co ratios to Ni are dramatically different from those in soils and rocks elsewhere along the LIT, suggesting a different mineralization style from the nickel-dominated magmatic conduit-type at Layden."

The sample 884693 result has been reassayed, with Co, Cu and Ni concentrations validated, and platinum (Pt), palladium (Pd) and gold (Au) analyses have been requested. Results have been received for the first approximately 1,000 samples of the approximately 5,000 sample 2023 program. In-fill sampling will be carried out on anomalies of interest. A follow-up soil grid over the new anomaly, designated TBSL-1, with 50 m lines and 25 m sample stations, is commencing this week, along with prospecting. Similar follow-up work carried out on the LIT-1 anomaly has confirmed the nickel tenors in soil over a wider area, and gabbronorite rocks have been found. The LIT-1 soil anomaly will be stripped and channel sampled, with TBSL-1 to follow as in-fill sampling and prospecting results are received.

Taylor Brook project

The Taylor Brook project consists of nine map-staked licences containing 705 claims totalling 176.25 square kilometres, of which seven licences are 100 per cent Churchill owned, and two small licences totalling 4.75 square km are in the third year of three-year options to earn 100-per-cent ownership. Altius retains a 1.6-per-cent gross sales royalty on the Churchill licences. Churchill's 2023 program includes property-wide soil sampling and prospecting, a CSAMT (controlled-source audio-frequency magnetotellurics) survey over the Layden gabbronorite, completing the high-resolution detailed aeromagnetic coverage of the south lobe area, stripping/trenching and diamond drilling.

The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C. Wilton, PGeo, FGC, who is a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and is independent of the company. The soil samples were placed in labelled, sealed kraft bags and delivered to Eastern Analytical of Springdale, Nfld., an ISO/IEC 17025 certified facility. OREAS standards and blanks were inserted in the sample batches. The samples were analyzed using ICP 34 (inductively coupled plasma) analytical protocols. Samples with overlimit Co contents were reassayed using Eastern's ore-grade assay (multiacid digestion) overlimit method. Quality control results, including the laboratory's control samples, were evaluated immediately.

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. The province was recently ranked fourth in the world for investment attractiveness by the Fraser Institute in its 2022 annual survey of mining and exploration companies.