Mr. Paul Sobie reports

CHURCHILL PROVIDES TAYLOR BROOK OPERATIONAL UPDATE, DRILLS 3.12% NICKEL OVER 2.61M AT LAYDEN WITH WINKIE RIG

Churchill Resources Inc. has provided an operational update for its Taylor Brook Ni-Cu-Co (nickel-copper-cobalt) project in western Newfoundland. Fieldwork has been near constant since early June, and is continuing into November with a 5,000-metre program of deeper holes at Layden that is expected to continue through the winter. Up-to-date results from work, including those from shallow Winkie drilling at Layden and property-wide soil sampling, are reported herein.

Presently, the company has commissioned expanded CSAMT (controlled-source audio-frequency magnetotellurics) surveys at Layden, along with first coverage at the LIT-1 and TBSL-1 soil anomalies; line-cutting is in progress at TBSL-1. Mobile MT (magnetotellurics) surveying has also been commissioned along the entire Layden/TBGC corridor, which will augment previous detailed Heli-GT magnetic and VTEM (versatile time domain electromagnetics) coverage to map potential low resistivity/conductor target areas at depth, as have been identified at Layden. A 5,000 m drill program will commence in early November to test previously undetected CSAMT Layden targets at depths of minus-175 m to minus-675 m.

Winkie drill program results

A 10-hole, cumulative 534.5 m, program was completed using an innovative drill rig fabricated by MCL Drilling of Deer Lake, Nfld. The rig consists of a Winkie drill, set up for 45-degree holes, on a tracked vehicle that has a very small footprint and is suitable for ATV (all-terrain vehicle) trails. An array of 10 holes were drilled south of the Layden showing to better delineate the gabbronorite-Western dike area as well as high-grade intersections in holes TB-22-20 and TB-22-30. Winkie hole WD-04 was targeted on the Layden horizon and intersected 3.12 per cent Ni, 0.68 per cent Cu and 0.05 per cent Co over 2.61 m, consistent with the high metal tenors defined in previous Layden intersections. Holes WD-01 and WD-02 intersected narrow mineralized zones that loosely correlate with previous intersections in holes TB22-20 and 22-30, and are likely mapping a fold nose. All other holes, drilled to better map the Layden gabbronorite, were barren of mineralization.

Geophysical surveying

The Layden CSAMT survey is presently being expanded by Geophysique TMC Inc. to better delineate marginal anomalies that were detected in the original 800 m by 800 m survey. Following completion at Layden, the crew will move to survey the LIT-1 Ni anomaly grid, and thence the TBSL-1 grid, as line cutting is completed. Expert Geophysics Ltd. will commence a mobile MT survey over the entire Layden-Taylor Brook south lobe corridor in early November, following completion of a calibration test survey over the Layden CSAMT survey area. As well, the company is pleased to report that SHA Geophysics has completed the detailed Heli-GT expansion survey to cover the rest of the Taylor Brook gabbro south lobe.

CSAMT target drilling

MCL Drilling will be mobilizing to Taylor Brook on Nov. 6, to commence the drill program, which is expected to run through the winter. Thus far, five holes have been planned targeting compelling resistivity low features at depths between minus-175 m and minus-625 m below surface.

As the Layden CSAMT expansion data is received and interpreted, more holes will be planned. Each hole, including the extension of TB-21-06, will be comprehensively surveyed with BHEM (borehole electromagnetic) and televiewer equipment by Eastern Geophysics Ltd.

Soil sampling results

The company has collected 3,224 samples thus far in 2023 and results have been received for 2,969 samples, which include the TBSL-1 follow-up grid around original sample 884693 (584 parts per million (ppm) Ni, 1,172 ppm Cu and 665 ppm Co). The nickel anomaly at TBSL-1 has been extended to approximately 600 m in length based on the soils, and line cutters have commenced cutting a grid for geophysical follow-up.

Soil sampling has also advanced southerly along the Layden intrusive trend and over the south lobe of the TBGC, with several new Ni, Cu and Co anomalies defined. The company will sample 50 m by 25 m follow-up grids over a number of these to better refine whether geophysical, trenching or drill targets are present.

Taylor Brook project

The Taylor Brook project consists of nine 100-per-cent-Churchill-owned map-staked licences containing 705 claims totalling 176.25 square kilometres. Altius retains a 1.6-per-cent gross sales royalty on seven licences, and a 2-per-cent net smelter return (NSR) is retained by local prospectors on two small licences totalling 4.75 square km. Churchill's 2023 program at Taylor Brook includes property-wide soil sampling and prospecting, a CSAMT survey over the Layden gabbronorite, completion of 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, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and independent of the company.

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.

We seek Safe Harbor.