Mr. Gary Thompson reports

BRIXTON METALS SUMMARIZES 2021 AND OUTLINES ITS FULLY FUNDED 2022 PLAN AT THE THORN COPPER-GOLD PROJECT

Brixton Metals Corp. has provided highlights of the results of its 2021 exploration activities and outlined its 2022 exploration plans to advance the district-scale Thorn copper-gold-silver-molybdenum project. The Thorn project is located 90 kilometres east-northeast from Juneau, Alaska, and is situated within the traditional territory of the Tahltan First Nation and Taku River Tlingit First Nation.

Corporate highlights from 2021:

• Brixton raised $12.2-million (including strategic investor Crescat Capital) and is now fully financed for its 2022 exploration at the Thorn project;
• Ivanhoe Electric Inc. consolidates shares/warrants held by Robert Friedland and the HPX $44.5-million (U.S.)/11-year earn-in agreement on Brixton's Hog Heaven copper-gold-silver project;
• Expanded the technical team by the addition of Colin McGillivray, senior modeller, and Susan Flasha, corporate development.

Thorn project highlights from 2021:

• Confirmed a new discovery of a copper-gold-molybdenum porphyry at the Camp Creek target; THN21-184 yielded 821.25 metres of 0.40 per cent copper equivalent, including 318 metres of 0.69 per cent copper equivalent, including 14 metres of 1.04 per cent copper equivalent; the target remains open at depth;
• Completed 5,770.12 metres of drilling, consisting of 2,662.78 metres at Camp Creek and 3,107.34 metres at Trapper;
• Demonstrated gold endowment of the Trapper target with drill hole THN21-186 yielding 139.00 metres of 2.14 grams per tonne gold, including 11.5 metres of 19.26 grams per tonne gold, including two highest-grade intercepts to date of 0.46 metre of 276.0 grams per tonne gold and 0.50 metre of 160 grams per tonne gold; the target remains open along strike and at depth;
• Collected and analyzed 417 rock samples and 607 soil samples, which identified several new areas of interest for copper and gold mineralization and extended the gold geochemical footprint of the Trapper anomaly to four kilometres in length;
• Completed 1,072 line kilometres of magnetic and mobile MT (magnetotelluric) geophysical surveys, structural mapping, geochronology, and geochemistry supporting an emerging Triassic-Eocene porphyry copper-gold-silver-molybdenum belt with multiple porphyry centres;
• Expanded and upgraded the Thorn camp capacity to host more than 50 people.

Planned 2022 thorn program:

• Drill up to 20,000 metres with a primary focus on the Camp Creek copper-gold-silver-molybdenum porphyry target and the Trapper gold target;
• Secondary targets include drilling at the Outlaw gold-silver target and potentially drilling at the Metla copper-gold porphyry target;
• Conduct geophysical surveys over the Metla and Trapper target areas;
• Collect 3,000 to 5,000 soil-rock samples and geochemical modelling on new targets;
• Collaboration with MDRU (Mineral Deposit Research Unit) to improve the company's porphyry fertility understanding and porphyry vectoring techniques.

Chairman and chief executive officer Gary R. Thompson stated: "We are very excited about the new discoveries that were made at the Thorn project in 2021. This season is shaping up to be transformative for Brixton as we continue to demonstrate the potential of this emerging copper-gold porphyry belt within the 2,600-square-kilometre, wholly owned Thorn project. We plan to be drilling multiple large-scale targets with a minimum of two drills turning all season."

Camp Creek copper porphyry target

Brixton Metals made significant progress in 2021 on the blind Camp Creek copper porphyry target. A total of 2,662.78 metres of core were drilled with THN21-183 being the deepest hole on the property. Drill holes 162, 181, 183 and 184 show copper, gold, silver and molybdenum grades as well as porphyry index values (MPIx) increasing with depth and ending in mineralization. The bottom of holes 183 and 184 are approximately 286 metres apart.

Collaborators at UBC's Mineral Deposit Research Unit (MDRU) identified four geochemically distinct porphyry phases, with porphyry X being the primary mineralized unit. Porphyry X is a crowded plagioclase porphyry of Cretaceous age, characterized by well-defined stacked biotite, a feature typical of mineral-related porphyry phases. Mineralization is also hosted in Triassic Stuhini group sedimentary rocks, which are intruded by the porphyry phases. Radiometric dating of these porphyries using the uranium-lead zircon method showed they were emplaced approximately 85 million years ago, confirming an age similar to the Pebble copper-gold-molybdenum deposit in southwest Alaska. The reference to Pebble is important because prefaulting architecture by Goldfarb et al. (2013) places Thorn inboard of Pebble during deposition and that about 1,100 kilometres of dextral displacement have occurred after accretion, moving Pebble to where it is located today. MDRU conducted short-wave infrared (SWIR) analyses and interpretation. The SWIR analyses indicate higher temperatures toward the west-northwest.

The Camp Creek porphyry mineralization is thought to have a footprint of about one kilometre by two kilometres based on the surface expression of several different high-sulphidation mineralized zones, including the Talisker and Glenfiddich zones and the Oban diatreme breccia zone.

The aim of the 2022 drilling at Camp Creek will be to test for the high-grade core of this copper-dominant porphyry system with four to six deep holes with the aid of drill wedges.

The Trapper gold target

The Trapper gold target was a major focus of the 2021 season. Following the 2020 acquisition of the Trapper claims and royalties, this was the first full exploration season conducted by Brixton that successfully highlighted the gold endowment of the target.

Brixton drilled 15 holes for a total of 3,107.34 metres. Standout holes include THN21-186, which reported 139.00 metres of 2.14 grams per tonne gold, including 11.5 metres of 19.25 grams per tonne gold, and THN21-195 with 84.00 metres of 1.1 grams per tonne gold. The attached table provides the 2021 Trapper drill results, including the balance of the 2021 Trapper drill results not previously released.

The Trapper target consists of volcanic and volcaniclastic rocks of the Upper Triassic Stuhini group, which are intruded by Cretaceous quartz diorite, interpreted as part of the Thorn magmatic suite. The quartz diorite is associated with high-grade gold mineralization at Trapper, including a broad gold zoning that extends into the Stuhini volcanic rocks.

Geochronology was completed at Trapper, yielding an age date from uranium-lead zircon method of 85.2 million plus or minus 1.2 million years for the quartz diorite, the primary lithology which hosts gold mineralization. This Cretaceous-age date is contemporaneous with the porphyry host rocks at Camp Creek porphyry target. Terrane Geosciences was contracted to conduct a structural mapping in the area. At surface, soil and rock geochemistry outline a four-kilometre north-northwest gold trend and up to 1.5 kilometres in width, with 2021 rock grab samples assaying up to 135.5 grams per tonne gold. Gold-in-soil values have a strong positive correlation to lead and zinc. Several new copper-gold-silver showings were discovered outside the Trapper gold trend in 2021, with values up to 23.5 grams per tonne gold and 5.2 per cent copper.

Trapper will be a primary drill target for the 2022 season, including 10,000 to 15,000 metres of drilling, with additional mapping, geochemical and geophysical surveys.

Outlaw gold target

The Central Outlaw target is located more than three kilometres to the southeast from the Camp Creek target. Gold mineralization is hosted with clastic sediments as Triassic Stuhini group interbedded siltstone-graywacke, where a gold-in-soil anomaly is about five kilometres long in an east-west trend. Mineralization is stratiform and within structural controlled areas and is thought to be to related to Jurassic dacite dikes that intrude the sediments. The Central Outlaw zone has seen most of the drilling to date, providing a continuous strike of 600 metres with drill results up to 59 metres of 1.1 grams per tonne gold. The highest surface rock grab sample was from the East Outlaw area returning 22.98 grams per tonne gold.

The plan at the Outlaw target in 2022 is to drill for continuity and extension of gold mineralization between the Central and East zones through four to six widely spaced drill holes.

Metla copper-gold porphyry target

Metla is a copper-gold porphyry anomaly within the Thorn project and is located about 15 kilometres to the southeast from the Trapper area. The Metla claims were acquired in 2020 from Stuhini exploration. Major rock units at Metla include sedimentary and mafic to ultramafic intrusive rocks of the Stikine assemblage, volcanic and volcaniclastic rocks of the Stuhini group, Late Cretaceous to Paleocene felsic intrusive rocks, and hydrothermal breccia dikes that crosscut all of the previous units. Recent uranium-lead zircon age dating indicates that the gold-copper-bearing granodiorite is Triassic in age, 220 million plus or minus 3.1 million years. Several distinct styles of mineralization occur in the Metla area, including a potassic-altered diorite unit with bornite, chalcopyrite and chalcocite that returned 4.7 per cent copper, 1.8 grams per tonne gold and 31 grams per tonne silver. Showings of massive pyrite, chalcopyrite and sphalerite are hosted in the hydrothermal breccia, where rock samples have returned up to 62.7 grams per tonne gold and 4.54 per cent copper. A 1989 trench by Cominco returned nine metres of 4.6 grams per tonne gold. The 2022 exploration program will include extensive geochemistry, geological mapping, and airborne radiometric and electrical geophysical surveys over the Metla target and will be used to define drill targets.

Plum copper target

The Plum target is located eight kilometres east of the Metla target, immediately west of Tatsamenie Lake. The geology is dominated by Mississippian volcanic rocks of the Stikine assemblage, with local Lower Permian limestone. The aforementioned rocks are intruded by Triassic and Jurassic diorites and Eocene mafic dikes. Copper mineralization is vein hosted with chalcopyrite and pyrite, including local chalcocite. This mineralization is found within broader zones of silica and pyrite alteration. Grab samples collected in 2020 found multiple occurrences with greater than 1 per cent copper, including one rock grab sample assay of 3.32 per cent copper.

Follow-up prospecting, mapping and soil-rock sampling are planned for 2022.

East copper porphyry target

The East target is located 25 kilometres east of Metla and 17 kilometres north-northeast of the Golden Bear mine. The geology is dominated by Middle to Late Triassic quartz diorite and granodiorite intrusive rocks, with windows of Stuhini group volcanic rocks. There are two main copper showings on either side of the Samotua River. The Ant showing is to the west and includes a two-kilometre-by-0.8-kilometre gossan with an associated copper soil anomaly. Copper values in rocks reach up to 3.62 per cent copper and have not yet been drill tested. The Bing showing is on the east side of the river and includes widespread copper plus or minus molybdenum mineralization as disseminations and within porphyry-style veining stockworks. Limited historic drilling here did not target the area hosting the most anomalous samples. Surface rock grab samples have returned up to 5.15 per cent copper and 145 grams per tonne silver.

Follow-up mapping and rock-soil sampling are planned for 2022.

West copper porphyry target

The West copper target is located five kilometres west-southwest of the Camp Creek target. Geology at the West target comprises Triassic volcanic rocks of the Stuhini group and Jurassic argillite and conglomerate of the Laberge group. These Mesozoic volcanic and sedimentary rocks are cut by an Eocene granite (54.2 million plus or minus 800,000 years) and alkali feldspar granite batholith of the Sloko-Hyder plutonic suite, some of which has been locally metamorphosed. Mineralization is vein hosted and disseminated, with porphyry-style quartz-pyrite-chalcopyrite veins in the Eocene intrusive and Stuhini volcanic rocks. A float sample collected in 2020 assayed 4.27 per cent copper.

Follow-up mapping and rock sampling are planned for 2022.

South gold-copper target

The South target is located approximately 35 kilometres south of the Trapper target. Geology includes greenstones of the Whitewater metamorphic complex, coarse clastic sedimentary rocks of the Stikine assemblage and Late Triassic quartz diorite intrusive rocks. Known mineralization includes vein-hosted chalcopyrite and disseminated pyrite and chalcopyrite, although only reconnaissance geochemistry surveys have been completed in the target area to date. The target includes one of the highest-grade gold samples in silts from the British Columbia Regional Geochemical Survey (RGS), with 990.7 parts per billion and elevated copper/silver/arsenic. This RGS sample is one of the highest in British Columbia. For reference, the highest RGS value in the entire KSM/Brucejack/Treaty area is 618 parts per billion gold and the highest RGS value in the Golden Triangle is 1,087 parts per billion gold at Johnny Mountain.

Follow-up soil-rock geochemical surveys, prospecting and reconnaissance mapping are planned for 2022.

Gary R. Thompson, PGeo, is the chairman and chief executive officer for the company, who is a qualified person as defined by National Instrument 43-101. Mr. Thompson has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the information and has approved the technical information in this press release.

About Brixton Metals Corp.

Brixton is a Canadian exploration and development company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects: the Thorn copper-gold-silver project, the Atlin goldfield projects located in northwestern British Columbia, the Langis-Hudbay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in northwestern Montana, United States, under a farmout option agreement to Ivanhoe Electric. Brixton Metals' shares trade on the TSX Venture Exchange under the ticker symbol BBB and on the OTCQB under the ticker symbol BBBXF.

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