Brixton Metals Provides Initial Assays from the 2024 Drill Program at its Thorn Project with 1467.73m of Copper-Gold-Silver-Molybdenum with Several Sub-intervals:

VANCOUVER, British Columbia, July 25, 2024 (GLOBE NEWSWIRE) — Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce its first drill results of the 2024 season from its wholly owned Thorn Project located in NW British Columbia, Canada. The 2880 square-kilometer claim group is located within the traditional territory of the Tahltan First Nation and the Taku River Tlingit First Nation. The Thorn Project is an underexplored copper-gold porphyry district with 16 large scale exploration target areas identified. Brixton is currently drilling with two rigs until the end of the season. Ground MT geophysical surveys at the North Copper Target and Cirque Copper Target are now complete and geochemical surveys, prospecting and mapping are ongoing.

Highlights

• Copper dominant porphyry mineralization starts at 314.5m depth in hole THN24-290 which ended in mineralization at 1564m depth and remains open in all directions

• Important higher-grade sub-intervals yield broad zones of Cu-Au-Ag-Mo mineralization as:
  • 960.40m of 0.21% Cu, 0.06 g/t Au, 2.71 g/t Ag, 279 ppm Mo or 0.39% CuEq
  • 452.00m of 0.28% Cu, 0.08 g/t Au, 3.39 g/t Ag, 272 ppm Mo or 0.46% CuEq
  • 391.50m of 0.30% Cu, 0.08 g/t Au, 3.59 g/t Ag, 294 ppm Mo or 0.49% CuEq
  • 121.50m of 0.35% Cu, 0.14 g/t Au, 6.27 g/t Ag, 184 ppm Mo or 0.55% CuEq
  • 8.00m of 0.72% Cu, 0.25 g/t Au, 33.99 g/t Ag, 246 ppm Mo or 1.21% CuEq
  • 150.73m of 0.32% Cu, 0.04 g/t Au, 2.58 g/t Ag, 461 ppm Mo or 0.56% CuEq
  • 64.73m of 0.39% Cu, 0.07 g/t Au, 3.11 g/t Ag, 389 ppm Mo or 0.61% CuEq

• Hole THN24-290 significantly increases the volume of mineralized porphyry at Camp Creek

Vice President of Exploration, Christina Anstey stated, “We are delighted to report on these exceptionally broad copper intervals from the initial drill results of our fully funded 2024 season at the Thorn Project. We are looking forward to receiving results for two additional deep holes, 291 (assays pending) and 294 (currently drilling) at Camp Creek, which were planned as northwest step outs from previous drilling as well as three completed drill holes at the Cirque Copper Target (assays pending), located 3km east from the Camp Creek Target area.”

Figure 1. Thorn Project Location Map with Copper Geochemistry.

Figure 2. THN24-290 Cross-Section and Plan Map for Camp Creek at -400m below sea level.

Table 1. Select Assay Intervals for Camp Creek Drill Hole THN24-290.

HQ and NQ size core samples were cut in half and sampled predominantly at 2.0m intervals. The true width of the mineralized intervals have not yet been determined.

Copper Equivalent (CuEq) is calculated based on US$ 4.02/lb Cu, US$ 2105.6/oz Au, US$ 25.16/oz Ag, $US 20.99/lb Mo. These prices represent the approximate Metal prices and calculations assume 95% metal recoveries.

CuEq % = (Cu % + (0.764485* Au g/t) + (0.009134 * Ag g/t) + (0.000523 * Mo ppm)) * 0.95

Discussion

THN24-290 was collared from the same pad as THN23-277 and was drilled at an azimuth of 325 degrees with a dip of -78 degrees to a total depth of 1564.00m. The objective of hole THN24-290 was to test below hole 277 from 2023 that failed to reach target depth due to ground conditions. THN23-277 was planned to test for a high-grade part of the porphyry system at Camp Creek while infilling a large gap of nearly one square-kilometer between previous drill holes. Hole 290 was successful in extending Cu-Au-Ag-Mo mineralization both laterally and to depth in this area with meaningful higher grade sub-intervals within the 1249.50m of mineralization drilled. Porphyry mineralization is hosted in the Cretaceous aged diorite Porphyry X unit, a crowded plagioclase porphyry characterized by well-defined stacked biotite, a feature typical of mineral-related porphyry phases. Mineralization is also hosted within Triassic Stuhini Group sedimentary rocks, which are intruded by the porphyry phases. Mineralization consists dominantly of chalcopyrite, molybdenite and pyrite as disseminations, fracture fill and within porphyry-style veins. Pyrite is dominate in the upper part of the hole as it gives way to increased chalcopyrite and molybdenite with increasing depth. Alteration assemblages transition from advanced argillic at surface, into a pronounced zone of strong phyllic alteration and ultimately into potassic assemblages around the core of the system. Higher-grade mineralization typically occurs around the -400m below sea level. At this level hole THN24-290 is spaced 440m east from previously reported hole 184, 350m west from hole 261, and 300m south from hole 221 (see plan map in Figure 2) and constitutes a significant step-out from previous drilling.

Figure 3. NQ Core-photographs of Mineralization Styles Observed in THN24-290.

Table 2. Collar Information of Hole THN24-290.

Figure 4. Strip-Log of Hole THN24-290 for Cu-Au-Ag-Mo.

Quality Assurance & Quality Control

Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.0 to 2.0m 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 Whitehorse, Yukon or Langley, British Columbia depending on available lab capacity. 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 (QP)

Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the Company who is a qualified person as defined by National Instrument 43-101. Mr. James has verified the referenced data disclosed in this press release and has approved the technical information presented herein.

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 Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC which is optioned to Eldorado Gold Corporation. 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

For Investor Relations inquiries please contact: Mr. Michael Rapsch, Senior Manager, Investor Relations. email: [email protected] or call Tel: 604-630-9707

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.

Links:

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Figure 1

 

Thorn Project Location Map with Copper Geochemistry

Figure 2

 

THN24-290 Cross Section and Plan Map for Camp Creek at ~400m below sea level

Figure 3

 

NQ Core photographs of Mineralization Styles Observed in THN24-290

Figure 4

 

Strip-Log of Hole THN24-290 for Cu-Au-Ag-Mo