Mr. Paul Sobie reports

CHURCHILL RESOURCES TO COMMENCE DRILLING SEPTEMBER 16 AT TAYLOR BROOK MAGMATIC INTRUSIVE COMPLEX; LARGE TONNAGE NICKEL TARGET ADDED AT FLORENCE LAKE

Churchill Resources Inc. has provided an update on its continuing fieldwork at Taylor Brook and coming work on the Florence Lake nickel project. Highlights include:

• Taylor Brook project preparations are well along, and first drill holes have been spotted on the TB-01 nickel-copper-cobalt target, in readiness for the Sept. 16, 2024, start-up;
• Geophysical and soil sampling/prospecting surveys are continuing;
• Florence Lake Seahorse Lake target -- an approximately 7.5-kilometre-long nickel-bearing ultramafic intrusion identified with consistent historical surface grab samples grading 0.2 per cent to 0.4 per cent nickel.

Paul Sobie, chief executive officer, commented: "All is ready for the Taylor Brook drill program commencing on the 16th of September, with drill pads constructed and geophysical surveys completed at target TB-01 on the TBSL-1 grid. Large-loop time-domain electromagnetic (TDEM) survey crews have moved five kilometres north to the Layden extension grid, where access and drill pad construction will also be taking place for target TB-06. The geophysical crew will move back to TB-01 for borehole electromagnetic (BHEM) and televiewer surveying of the TB-01 drill holes as they are completed. IP/CSAMT [induced polarization/controlled-source audio-frequency magnetotelluric] survey and line-cutting crews are taking a well-deserved break before work begins extending the grids to cover more of the 13-kilometre magmatic trend containing targets TB-01 and TB-06.

"At Florence Lake, we've added a very large, bulk-tonnage nickel target to our portfolio in addition to our numerous high-grade targets in the greenstone belt. The Seahorse Lake ultramafic intrusive spans some 7.5 kilometres by one kilometre based on its magnetic signature. Historical grab sampling by Falconbridge returned pervasive surface nickel assays in the 0.2 to 0.4 per cent nickel range, consistent with similar ultramafic intrusions being evaluated in Ontario, Quebec, B.C. and Alaska. Seahorse lies approximately 70 kilometres west of the deepwater port of Postville, and an all-weather road proposed along the Labrador coast would pass within 15 kilometres of the property, greatly enhancing Florence Lake project economics."

Florence Lake Seahorse bulk-tonnage nickel prospect

The Seahorse Lake ultramafic intrusive body was first noted by Noranda in 1990 and grab sampled systematically by Falconbridge in 1991. A recent (2022) aeromagnetic survey flown by the Geological Survey of Canada indicates an intense magnetic anomaly associated with the ultramafic intrusion, the majority of which lies on CRI ground to the south of the Florence Lake Camp. Falconbridge samples include a large number in the range of 0.2 per cent to 0.4 per cent nickel over about five kilometres of the intrusive. The company has planned prospecting and sampling work in September to October to ground truth the 43 high-grade targets identified in 2022 on the property as well as extending the surface sampling of the Seahorse Lake intrusion the full 7.5 kilometres.

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 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. Mr. Wilton is an honorary research professor of economic geology at Memorial University and is independent of the company for the purposes of NI 43-101.

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