Mr. Gary Thompson reports

BRIXTON METALS ENTERS INTO OPTION AGREEMENT TO ACQUIRE A 100% INTEREST IN THE SILVER FOCUSED SILVERGRUVAN PROJECT IN SWEDEN

Brixton Metals Corp. has entered into an option agreement with McKnight Resources AB, an arm's-length party, pursuant to which McKnight has granted to Brixton the sole, exclusive, and irrevocable right and option to acquire an undivided 100-per-cent interest in and to certain mineral exploration permits located in Hallefors Municipality, Orebro county, south central Sweden, commonly known by the names Silvergruvan 100 and Silvergruvan 200 (collectively, the Silvergruvan property). The option agreement remains subject to the receipt of acceptance from the TSX Venture Exchange. No finders' fees are payable in connection with the option.

The Silvergruvan property comprises 1,460 hectares and is prospective for silver, gold, lead, zinc, antimony and indium. The Silvergruvan property saw historical mining activity spanning from the 1600s to the late 20th century and sits on the western margin of the Bergslagen province, placing the property in immediate proximity to major active polymetallic operations. Silvergruvan shares similar geology to major silver-lead-zinc deposits like Garpenburg, Sala and Zinkgruvan in the region.

Chairman and chief executive officer Gary R. Thompson stated: "The Silvergruvan property represents an attractive opportunity for new discoveries in a region that has not seen much modern exploration, yet it shares similar geology to Garpenburg, one of the world's most productive underground zinc mines. In 2025, Boliden stated most of this mine's revenue was from silver and is a long-life mine with deep rooted mineralization where mining reaches 1,500 metres depth and remains open."

According to Boliden, in 2025, the most valuable commodity for Garpenberg was silver. Silver accounted for 47 per cent of the revenue, followed by zinc 32 per cent, gold at 11 per cent, lead at 10 per cent and copper at less than 1 per cent.

Silvergruvan history

1635 -- silver first discovered.

Tumi Resources (news release, May 15, 2008) stated: "No production figures are available for the eastern silver mines, but during 1878 to 1896 and 1915 to 1917, 9,000 tonnes were produced from the western silver mines grading approximately 1,560 g/t Ag, 12 per cent Zn and 38 per cent Pb. Records indicate that between 1639 and 1852, Hallefors produced just over 480,000 oz of silver ..."

1892 -- From the report, "The Minerals of the Silver Mines of Hallefors," the average grade of ore from the western fields was 0.156 per cent Ag (silver). In the years of 1639 to 1852, the silver-bearing ore mined was 15 tons.

1977 -- Boliden restarts underground mining at eastern fields.

1997 -- Boliden forms JV (joint venture) with Lundin Group and drills 2,000 metres at western fields.

2008 -- Tumi Resources forms JV with Goldsearch; conducts EM survey, no drilling.

2026 -- McKnight acquired Silvergruvan through staking.

2026 -- Rock grab samples collected by McKnight.

Sixteen waste dump rock grab samples from the Silvergruvan project were collected by McKnight and of these; nine samples were greater than 200 g/t silver including six were greater than 500 g/t silver with a high of 800 g/t silver; five samples returned greater than one g/t gold with a high of 1.8 g/t gold; eight samples returned greater than 5 per cent lead with a high of 18.4 per cent lead; eight samples returned greater than 5 per cent zinc with a high of 20.90 per cent zinc; five samples returned greater than 1,000 ppm (parts per million) antimony with a high of 1,480 ppm antimony; and four samples returned greater than 100 ppm indium with a high of 188 ppm indium.

Infrastructure and logistics

The Silvergruvan property location has year-round heavy vehicle road access, excellent proximity to the national industrial power grid and an experienced local mining work force.

Current mineral resources

No mineral resource statement has been calculated at the Silvergruvan property in modern times.

Transaction highlights

Brixton may exercise the option on completion of that shown in the attached table.

Upon Brixton exercising the option, it shall grant a 2.0-per-cent net smelter returns royalty on the Silvergruvan property in favour of McKnight, subject to a right at any time to reduce the royalty to 1.0 per cent by paying $1.5-million or issuing shares equal to $1.5-million, such shares shall have an issue price, as and when issued, equal to the 20-day volume-weighted average trading price of the shares on a recognized stock exchange in Canada on which the shares are then listed, such price being based on the 20 trading days preceding the date the company elects to issue such shares; provided, however, that the issue price shall not be less than 50 cents being the discounted market price of shares on the TSX-V as of the date of this news release.

All share issuances and exploration expenditures are at the discretion of Brixton. Brixton may make up any shortfall in exploration expenditures for a period by making a cash payment to McKnight before the end of such period. Brixton may also accelerate the option by making any share issuances and exploration expenditures within a shorter period of time. Brixton shall act as operator during the option period.

All shares issued pursuant to the option agreement and royalty will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. In addition, each tranche of share issuance under the option agreement will be subject to a voluntary lock-up subject to a release schedule of 25 per cent on issuance, 25 per cent four months from the date of issuance, 25 per cent eight months from the date of issuance and 25 per cent 12 months from the date of issuance.

Qualified person (QP)

Gary Thompson, PGeo, is the chairman and chief executive officer, and a senior geologist for the company who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Thompson has reviewed and approved the technical information presented herein. The QP conducted a site visit on Aug. 25, 2026, and considers Silvergruvan a property of merit and recommends further exploration. Further, the QP has not completed sufficient work on the historical data to confirm the accuracy of the information provided, and there is no certainty that further exploration will result in a mineral resource.

About Brixton Metals Corp.

Brixton 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 Langis and Hudson Bay silver projects in Ontario, the Hog Heaven copper silver-gold project in northwestern Montana, United States, which is optioned to Ivanhoe Electric Inc., and the Atlin Goldfields project located in northwest B.C., which is optioned to Eldorado Gold Corp. Brixton Metals Corp. shares trade on the TSX-V under the ticker symbol BBB and on the OTCQX under the ticker symbol BBBXF.

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