Mr. Gary Thompson reports

BRIXTON METALS PROVIDES INITIAL RESULTS ON THE HOG HEAVEN PROJECT FROM IVANHOE ELECTRIC WHICH HAS DRILLED 311 METERS CONTAINING 0.35 G/T GOLD, 22.89 G/T SILVER, 0.36% LEAD, AND 0.55% ZINC, FROM 162 TO 473 METERS

Brixton Metals Corp. has released initial results from the 2023 exploration program on the Hog Heaven project, which is currently being operated by Ivanhoe Electric Inc. Under a definitive earn-in joint venture agreement, Ivanhoe Electric holds the option to acquire up to 75-per-cent interest in the project by incurring $40-million (U.S.) of project expenditures and paying Brixton $4.5-million (U.S.). Hog Heaven is a high-sulphidation epithermal copper-silver-gold project with large-scale porphyry copper potential and with historical production located in the state of Montana, United States.

Highlights from Ivanhoe Electric's program:

• Hole HHD-005 returned 311 metres of 1.07 grams per tonne gold equivalent containing 22.89 g/t silver, 0.35 g/t gold, 0.06 per cent copper, 0.55 per cent zinc and 0.36 per cent lead, including the bottom eight m yielding 1.32 per cent copper, 0.34 g/t gold and 23.38 g/t silver from 901 m depth;
• New evidence suggesting a deep porphyry copper source to the high-sulphidation epithermal mineralization;
• Ivanhoe commences its Typhoon geophysical survey on the Hog Heaven project.

Vice-president of exploration Christina Anstey stated, "The fact that drilling has intersected increasing copper as a proportion of mineralization with increasing depth, Cu-Mo stockwork, crosscutting relationships and mineralized breccia fragments are all very encouraging evidence for the existence of a copper porphyry at depth."

Chairman and chief executive officer Gary Thompson stated, "We are delighted to see the exploration success that Ivanhoe Electric is having on the Hog Heaven project and we look forward to seeing this project advance."

2023 Hog Heaven project update

Ivanhoe Electric commenced drilling on the Hog Heaven project in June, 2023, as part of its JV agreement with Brixton Metals. To date, the program has consisted of six holes totalling 6,129 metres and drilling is projected to continue with two drill rigs on site, subject to potential winter conditions. Initial drill results from the 2023 program include 311 metres of 1.07 g/t gold equivalent from 162 to 473 metres, containing 22.89 g/t silver, 0.35 g/t gold, 0.06 per cent copper, 0.55 per cent zinc and 0.36 per cent lead from drill hole HHD-005.

The focus of the 2023 drill program was to test for potential extensions of known silver-, gold- and copper-rich high-sulphidation epithermal mineralization as well as search for a potential copper porphyry source to the epithermal system. Preliminary results from the 2023 drill campaign have shown that epithermal mineralization extends significantly beyond the depths of previous and historical mining activities. Additionally, new evidence from drill core includes porphyry-style, early-quartz veins and breccia-bearing fragments of quartz-stockwork porphyry clasts, suggesting a potential connection to a deep copper porphyry system.

2023 geophysical survey at Hog Heaven

In late September, 2023, Ivanhoe commenced an induced polarization and electromagnetic ground geophysical survey using its proprietary Typhoon electrical geophysical surveying transmitter system. The goal of the survey is to assist with identifying additional areas of precious- and base-metal-bearing, semi-massive and massive sulphide epithermal mineralization at depth.

About the Hog Heaven Cu-Ag-Au project -- Montana, U.S.

The Hog Heaven copper-silver-gold project is an exploration project which historically produced high-grade silver, gold and copper. Between 1913 and 1975, Anaconda Copper Mining and lessees produced 6.7 million ounces Ag, 3,000 oz Au, 23 million pounds Pb and 600,000 lb Cu from 230,000 tonnes of direct-ship ore, grading 29 ounces per ton Ag. The road-accessible property is located in Flathead county, 55 miles south-southwest of the town of Kalispell, northwestern Montana, U.S. Over 700 drill holes were completed over the Main mine and Ole Hill targets by previous operators.

Qualified person

Mr. Thompson, PGeo, is chairman and CEO for the company who is a qualified person as defined by National Instrument 43-101. Mr. Thompson has not verified the referenced data disclosed in this press release and is reliant on Ivanhoe Electric, the operators of the project, for the technical information presented herein.

About Brixton Metals Corp.

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 northwestern Montana, U.S., which is optioned to Ivanhoe Electric, the Langis-HudBay silver-cobalt-nickel project in Ontario and the Atlin goldfields project located in northwestern British Columbia.

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