Brixton Metals Drills 35m of 0.77 g/t Gold, including 1.34 g/t Gold over 19.00m and 0.45m of 38 g/t Gold at the Atlin Goldfields Project

VANCOUVER, British Columbia, Jan. 15, 2024 (GLOBE NEWSWIRE) — Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce the 2023 results from the Atlin Goldfields diamond drill program. The project is located near Atlin, BC and within the Taku River Tlingit First Nation’s traditional territory.

Highlights

• Hole YJ-23-003 yielded 159.80m of 0.33 g/t Au from 55.00m depth
  • Including 35.00m of 0.77 g/t Au
  • Including 19.00m of 1.34 g/t Au
  • Including 0.45m of 38.1 g/t Au

• Visible gold occurrence noted at 139.35 meters

Vice President of Exploration, Christina Anstey, stated, “We are excited to see visible high-grade gold hosted within a broad lower grade halo at the Yellowjacket Target within the one hole drilled in 2023. The road accessible Atlin Goldfields Project offers great potential for intrusion related gold and orogenic gold deposits.”

The 2023 exploration program at the Atlin Goldfields Project was limited to one drill hole collared at the Yellowjacket Target (Figure 1). Drill hole YJ-23-003 was 349.91m in length, drilling across the Pine Creek fault system and testing what appears to be several sub-parallel, gold-bearing quartz vein sets hosted by listwanitic altered ultramafic rocks, based on the historic drilling. Previous operators constrained drill exploration to 50 meters depth, with only limited drilling over 150 meters below the surface at the Yellowjacket Target. The secondary aim of the 2023 drill program was to evaluate the potential for the Pine Creek Fault System to host mineralization beyond the previously tested depths.

The Yellowjacket drill hole YJ-23-003 intersected several listwanite and ultramafic to mafic rock occurrences that hosted quartz-veining with gold mineralization. Mineralization was broadly observed from 55.00 to 214.8 meters grading 0.33 g/t Au and included five shorter intervals with grades over 1 g/t Au (Table 1; Figure 2). Visible gold was observed at 139.35m and assayed 38.1 g/t Au over 0.45m, within a 19.00m interval of 1.34 g/t Au (Figure 3).

Figure 1. Yellowjacket Target Collar Location Map, Atlin Goldfields Project.

The image (above) shows the Yellowjacket hard rock gold target within the past producing Pine Creek placer gold workings.

Table 1. Select Mineralized Intervals for Drill Hole YJ-23-003.

All assay values are uncut weighted averages and intervals reflect drilled lengths as further drilling is required to determine the true widths of the mineralization.

Figure 2. Cross-Section of YJ-23-003 with Gold Assays and Geology, Viewing North.

The Atlin Goldfields Project is underlain primarily by Mississippian to Triassic-aged volcanic and sedimentary rocks of the Cache Creek Complex, including large packages of mafic and ultramafic rocks that are favourable hosts for gold mineralization. Gold mineralization at the Yellowjacket Target appears to be controlled by the Pine Creek Fault system, a northeast trending, steeply-dipping, 60- to 80-meter-wide structure. The Pine Creek Fault hosts sub-parallel, moderately southeast-dipping, millimeter to centimeter scale quartz vein sets, which contain gold mineralization. The gold-bearing quartz veins preferentially occur within listwanitic rocks and other minor fault contacts with ultramafic rocks within the Pine Creek system. Gold mineralization occurs as native gold, with associated pyrite, chromite and mariposite.

Most of the streams and rivers across the Atlin Goldfields Project have produced placer gold for over 125 years. Although several hard rock exploration companies have worked the area, the lode gold source of the abundant placer gold in the area has not yet been identified. The Atlin Goldfields Camp holds the Canadian record for the largest gold nugget, which weighed 2.6 kg or 85 oz, and was discovered on Spruce Creek (BCGS Paper 2017-1, p.179-193).

In addition to the Yellowjacket Target, the property hosts numerous under-explored orogenic and intrusion related gold targets. The Atlin Goldfields Project is available for earn-in option, joint venture, or sale. Brixton is actively looking for a partner to advance this project and assist with the lode gold discovery in Atlin.

Figure 3. Photo of Visible Gold in Drill Hole YJ-23-003.

Table 2. Drill Hole Collar Information.

About the Atlin Goldfields Project

The Atlin Goldfields Project is located 175 kilometers southeast of Whitehorse, Yukon, immediately east of the town of Atlin. Brixton acquired the keystone claims and consolidated the property from 2016 to 2018. The mineral claims cover 579 km² and are wholly-owned by Brixton, with low- to no NSR’s.

The Atlin gold camp is the second largest placer gold producer in British Columbia with reported placer gold production of over 600,000 ounces of gold between 1898 and 1945, and an unreported amount of placer gold production since then in the area. Hard rock exploration has been focused at the Yellowjacket Target area, with over 26,000 meters of drilling completed, although this has been mostly limited to depths less than 150 meters from surface. Historical diamond drilling at the Yellowjacket Target has returned up to 509.96 g/t Au over 5.57m (YJ-03-01). In 2022, Pacific Bay Minerals drilled 3m of 9.96 g/t Au at the Yellowjacket Target. Based on the historical, high-grade drill results at Yellowjacket, small-scale, open pit mining occurred between 2007 & 2010, producing approximately 1000oz Au. This production includes a 2,880-tonne bulk sample in 2008 that recovered 599 oz Au, grading 6.5 g/t Au. Hard rock samples consisting of coarse-grained quartz veins have returned values of up to 293 g/t Au at the LD Showing and 53.6 g/t Au at the Union Showing. The project hosts potential for orogenic and intrusion related gold mineralization.

Quality Assurance & Quality Control

Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.0m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Langley, British Columbia. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. Over limits for gold were analyzed using fire assay and gravimetric finish. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company’s website.

Qualified Person

Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the company and a qualified person as defined by National Instrument 43-101. Mr. James has verified the data disclosed in this press release, including the sampling, ‎analytical and test data underlying the technical information and has approved this press release.

About Brixton Metals Corporation

Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Atlin Goldfields Project located in NW BC, the Langis-HudBay silver-cobalt-nickel Project in Ontario, and the Hog Heaven copper-silver-gold Project in NW Montana, USA (under option to Ivanhoe Electric Inc.). Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: [email protected]

For investor inquiries please contact Jason Shepherd, VP Investor Relations at [email protected] or 1-250-212-2122

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.