Mr. Paul Sobie reports

CHURCHILL ANNOUNCES SHARES FOR DEBT TRANSACTION

Further to Churchill Resources Inc.'s news release dated March 6, 2023, announcing the exercise of an existing option to acquire a 100-per-cent interest in certain mineral properties with prospective diamond targets plus potential nickel and lithium targets located immediately west of the town of White River, Ont., Churchill Resources announces that it has agreed to settle an outstanding debt in the amount of $50,000, representing an annual advance royalty owing to the vendors of the properties under the terms of an existing option and purchase agreement, by issuing an aggregate of 555,555 common shares of the company at a price of nine cents per common share to the vendors. The board of directors has determined it is in the best interests of the company to settle the outstanding debt by the issuance of the common shares in order to preserve the company's cash for continuing operations.

Closing of the shares for debt transaction is subject customary closing conditions, including the prior approval of the TSX Venture Exchange. The company intends to close the shares for debt transaction as soon as practicable following receipt of the approval from the TSX-V. The common shares to be issued pursuant to the shares for debt transaction will be subject to a statutory hold period of four months and one day from the date of issuance.

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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