Mr. Paul Sobie reports

CHURCHILL RESOURCES CLOSING OF SECOND AND FINAL TRANCHE OF $2M PRIVATE PLACEMENT

Churchill Resources Inc. has completed the second and final tranche of its $2-million non-brokered private placement consisting of the sale today of 2.5 million common shares which were issued on a flow-through basis at a price of eight cents per share for gross proceeds of $200,000 (and together with the sale of $1.8-million FT shares completed on Nov. 22, 2024, the offering).

The company intends to use the gross proceeds of the offering for the exploration of the company's key projects in Newfoundland and Labrador. The gross proceeds from the issuance of the FT shares will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)), and that qualify for the federal 30-per-cent critical mineral exploration tax credit, which will be renounced with an effective date no later than Dec. 31, 2024, to the purchasers of the FT shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT shares.

The FT shares are subject to a statutory hold period of four months and one day, and remain subject to the final approval of the TSX Venture Exchange. In connection with the offering, the company paid eligible finders a cash fee equal to 7.0 per cent of the gross proceeds raised by the company from the sale of FT shares to subscribers directly introduced to the company by such finders.

About Churchill Resources Inc.

Churchill 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 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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