Mr. Gary R. Thompson reports

BRIXTON METALS RECEIVES TYPHOON(TM) RESULTS AND ADDITIONAL ASSAYS FROM THE HOG HEAVEN PROJECT, MONTANA

Brixton Metals Corp. has released additional results from the continuing exploration program on the Hog Heaven project, which is operated by Ivanhoe Electric Inc., under a definitive earn-in agreement. Hog Heaven is located 50 miles southwest of Kalispell, in the state of Montana, United States, and is an advanced-stage, high-sulphidation, epithermal copper-silver-gold project having historical production with copper-porphyry potential.

Highlights:

• Stepout drilling at Hog Heaven extends mineralization 150 metres to the west of nearest drilling;
• Results of Typhoon geophysical survey at Hog Heaven will guide future drilling plans;
• HHD-012 intersected 157 m of high-sulphidation epithermal mineralization approximately 150 m to the southwest of the nearest hole (HHD-010). This intercept is of a similar grade and quality to that seen in previously reported holes, demonstrating that the Hog Heaven epithermal system has growth potential to the west of the Flathead mine;
• HHD-012 intersected 156.88 m of 0.34 gram per tonne (g/t) gold (Au), 18.77 g/t silver (Ag), 0.09 per cent copper (Cu), 0.24 per cent lead (Pb) and 0.22 per cent zinc (Zn) (from 282.12 metres), or 156.88 m of 0.85 g/t gold equivalent (AuEq), including:
  • 49.92 m of 0.40 g/t Au, 29.51 g/t Ag, 0.11 per cent Cu, 0.40 per cent Pb and 0.22 per cent Zn from 282.12 metres, or 49.92 m of 1.22 g/t AuEq.
• Drill hole HHD-012 has been successful in opening a large new area prospective for additional shallow high-sulphidation epithermal mineralization and the underlying porphyry source. Mineralization intersected by HHD-012 remains open in multiple directions and to depth.

See Ivanhoe Electric's Feb. 22, 2024, news release.

Gary R. Thompson, chairman and chief executive officer, stated: "Ivanhoe Electric's Typhoon geophysical survey identifies a strong conductor of about one square mile in size in the south-central area of the project, where limited drilling has been conducted. We look forward to the next batch of drill results from the ongoing program at the Hog Heaven project."

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

Ivanhoe Electric's current exploration drill program at Hog Heaven, as first reported in the company's October, 2023, news release, has now completed 12 drill holes totalling 10,905 metres. Exploration drilling has stepped out to the west and southwest, where mineralization remains open. One diamond drill rig is currently on site and will operate through the winter, as weather permits. In November, 2023, Ivanhoe Electric conducted its proprietary Typhoon geophysical survey covering an approximately 10-square-kilometre area, which was designed to cover the core of known prospectivity.

Ivanhoe Electric and Brixton entered into an earn-in agreement in 2021. Under the earn-in agreement, Ivanhoe Electric may earn up to a 75-per-cent interest in the Hog Heaven project by making cash payments totalling $4.5-million (U.S.) and incurring an aggregate of $40-million (U.S.) in exploration expenditures by 2032. Ivanhoe Electric will earn an initial 51-per-cent interest by making a total of $4.5-million (U.S.) in cash payments and incurring $15-million (U.S.) in exploration expenditures. Ivanhoe Electric may earn the additional 24-per-cent interest in the project by incurring a further $25-million (U.S.).

Brixton acquired the Hog Heaven project from Pan American Silver in 2017 and conducted data compilation/digitization and 3-D-modelling, soil geochemical survey, geological mapping, and geophysical surveys. In 2020, Brixton drilled seven confirmation core holes at the Main Mine area. Highlights include drill hole HH20-02 that intersected a broad 224.85 m zone of mineralization yielding 78.16 g/t Ag, 0.66 g/t Au and 0.24 per cent Cu (75.07 m to 299.92 m), which includes the following subintervals:

• 5.48 m of 445.79 g/t Ag, 1.41 g/t Au and 1.50 per cent Cu;
• 2.13 m 0f 917.36 g/t Ag, two g/t Au and 3.06 per cent Cu;
• 53.49 m of 165.90 g/t Ag, 1.28 g/t Au and 0.55 per cent Cu;
• 13.56 m of 185.80 g/t Ag, 2.24 g/t Au and 0.76 per cent Cu;
• 1.37 m of 1,750 g/t Ag, 5.39 g/t Au and 2.65 per cent Cu.

Historically, previous operators drilled 722 holes (mostly shallow depths) over the Main Mine and Ole Hill targets. A feasibility study and mine permit were received in 1989 to construct a mine based on the shallow oxide gold-silver mineralization, however, development did not proceed. Select underground workings at the West Flathead mine reported silver grades from fumaroles and fractures that ranged from 300 ounces per ton to 3,000 ounces per ton.

The Hog Heaven copper-silver-gold project is an advanced-stage 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 (Moz) Ag, 3,000 oz Au, 23 million pounds (Mlb) Pb and 500,000 lb Cu from 230,000 tonnes of direct-ship ore, grading 29 oz/ton Ag. The road-accessible property is located in Flathead county, 55 miles south-southwest of the town of Kalispell, northwestern Montana, U.S.

Qualified person

Mr. Thompson, PGeo, is the chief executive officer and director 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 northwest Montana, United States, which is optioned to Ivanhoe Electric Inc.; the Langis-HudBay silver-cobalt-nickel project in Ontario; and the Atlin Goldfields project located in northwest British Columbia. Brixton Metals shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF.

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