Brixton Metals Drills 30.50m of 0.35% Cobalt Including 10.02m of 0.92% Co and Including 0.5m of 9.01% Co at its Langis Project, Ontario

Brixton Metals Corporation

Figure 1

Location of the Langis Project, Ontario

Figure 2

Collar Locations and Drill Traces at the Langis Project

Figure 3

High-grade cobalt intercept from hole LM-22-254

Figure 4

Examples of Cobalt Mineralized Veins from hole LM-22-254

VANCOUVER, British Columbia, Dec. 13, 2022 (GLOBE NEWSWIRE) — Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce the first batch of drill results from its wholly owned Langis Project. The project is located in the Cobalt Camp of Ontario which is about 500km north from Toronto. The objective of the 2022 drill program was to test the cobalt-nickel domain at the Langis Project. The program started in early November with 7,000m planned and should be completed around the 20th of December. The project is situated within the Timiskaming First Nation traditional territory.

Highlights

Vice President of Exploration, Christina Anstey, stated, “This program is set out to target cobalt-nickel mineralization specifically, as the demand for battery metals increases. We are very excited that our first hole in 2022 has confirmed high-grade of cobalt mineralization at the Langis Project.”

Figure 1. Location of the Langis Project, Ontario.

Location of the Langis Project, Ontario

Table 1. Select Mineralized Intervals for Hole LM-22-254 and LM-22-255.

Hole

From (m)

To (m)

Interval (m)

Co (%)

Ag (g/t)

Ni (%)

LM-22-254

121.00

151.50

30.50

0.35

5.97

0.08

including

139.00

149.02

10.02

0.92

13.58

0.21

including

144.20

147.70

3.50

1.89

15.00

0.51

including

147.20

147.70

0.50

9.01

72.50

2.58

THN22-255

81.80

82.30

0.50

0.02

58.50

0.10

including

126.25

201.00

74.75

0.008

0.59

0.10

All assay values are uncut weighted averages and intervals reflect drilled lengths as further drilling is required to determine the true widths of the mineralization.

Chairman and CEO Gary Thompson, stated, “With BHP’s strategic investment into Brixton, the primary focus is the advancement of the Thorn Copper-Gold Porphyry Project in British Columbia. However, we are pleased with the progress at the Langis Silver-Cobalt-Nickel Project and can see the merits of this project as a stand-alone cornerstone asset that warrants further drilling. The Langis Project has excellent infrastructure and is near Electra Battery Materials, which is building North America’s first battery materials park. The Langis Project offers great potential for silver, cobalt and nickel. We welcome potential joint venture partners to reach out regarding this unique opportunity.”

Story continues

Figure 2. Collar Locations and Drill Traces at the Langis Project.

Collar Locations and Drill Traces at the Langis Project

Discussion

Drill holes LM-22-254 and LM-22-255 were drilled from the same pad to test the continuity of cobalt mineralization observed in the previously released drill hole LM-18-23 (0.98m of 3.55% Co). This trend also encompasses cobalt mineralization mapped underground by Agnico in the 1980’s. Several cobalt-bearing veins and veinlets were observed within a 30.50m interval of drill hole LM-22-254 that averaged 0.35% cobalt. Using downhole structural tools (oriented-core), the intersected veins were measured to be steeply dipping, trending to the west-northwest. Drill hole LM-22-255 was a down-dip test of these structures and no mineralized veins were observed, although elevated cobalt values (>100 ppm Co) were intersected between 130m-187m, associated with anomalous nickel (>1,000 ppm Ni).

Cobalt and native silver mineralization at Langis appear to be derived from separate mineralizing systems, although the host veins commonly share structures with one another and the two can occur together frequently. A correlation coefficient value of 0.4 was determined between silver and cobalt based on previous drill assays from Langis. West-northwest, northwest and east-west trends have been identified for these cobalt and silver-hosting structures. Cobalt mineralization appears to favour the Coleman Member conglomerates of the Gowganda Formation, immediately above the Keewatin mafic volcanic rocks, although mineralized veins are observed within the mafic volcanics, as well as within the Nippissing diabase. Cobalt occurs as cobaltite and other Ni-Co-arsenides and sulpharsenides, hosted within quartz-calcite veins. The veins commonly contain native silver, pyrite, pyrrhotite, chalcopyrite, sphalerite, galena and native bismuth.

Figure 3. High-grade cobalt intercept from hole LM-22-254.

High-grade cobalt intercept from hole LM-22-254

Figure 4. Examples of Cobalt Mineralized Veins from hole LM-22-254.

Examples of Cobalt Mineralized Veins from hole LM-22-254

Brixton has completed four previous drill campaigns on the Langis Project, all of which have predominantly targeted high-grade silver around the historic workings. Through these programs, several high-grade cobalt intercepts have been observed, including 0.98m of 3.55% Co in LM-18-23, and 1.0m of 1.965% Co and 20,995 g/t Ag in LM-18-42. For this fifth season, targeting is focussed on cobalt specific structures, testing their continuity and grade. Drill planning involved the use of geology and geochemistry from previous drilling, geophysical surveys and historic underground mapping completed by Agnico in the 1980’s. Prior to 2022, Brixton had drilled over 35,100 meters on the Langis Project. The 2022 season started in early November with 7,000 meters planned.

Table 2. Drill Collar and Hole Information.

LANGIS PROJECT DRILLHOLES

Hole ID

Easting

Northing

Elevation (m)

Azimuth

Dip

Depth

LM-22-254

607181

5270836

215

273

-59

204.00

LM-22-255

607180

5270836

215

280

-67

201.00

Quality Assurance & Quality Control

Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.0m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 10 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation and analysis facility in Sudbury, Ontario. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed for Ag, Co, Ni and Cu and 44 additional elements using four acid digestion with an ICP-MS 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.

About the Langis Project

Brixton’s wholly owned Langis Project is a past producing mine site that has excellent infrastructure and is located 500km north from Toronto, Ontario, Canada. The property sits at the northern end of Lake Temiskaming, 20km north of Electra Battery Materials cobalt refinery and materials park, which is under development. The mineralization occurs as native silver and within steeply-moderately and in some cases shallow dipping veins, veinlets and as disseminations, rosettes and fracture infill and can be associated with calcite, hematite, pyrite, cobaltite, chalcopyrite, niccolite and gold. Mineralization is hosted within any of the three main rock types: Archean Keewatin volcanic and metasedimentary rocks, Proterozoic Coleman Member sedimentary rocks of the Huronian Supergroup and Proterozoic Nippissing diabase. The Langis Mine produced 10.6Moz of silver at 25 opt Ag and 358,340 pounds of cobalt from 1908 to 1989. Historically, the combined mines in the Cobalt Camp produced over 550 million ounces of silver with 30-50 million pounds of cobalt as a by-product.

Qualified Person

Mr. Gary R. Thompson, P.Geo., is the Chairman and CEO 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.

Atlin Project Update

On December 12, 2022, Pacific Bay Minerals announced results from its first 2 drill holes at the Atlin Goldfields Project. Diamond drill hole YJ22-01 intersected the Yellowjacket main zone returning 9.96 g/t gold over 3.05m from 117.96m. For Further details on this news release please see the following link.https://www.pacificbayminerals.com/pacific-bay-drills-3-05-metres-of-9-96-g-t-gold-at-atlin-goldfields/

Pacific Bay holds an option to acquire up to a 100% interest in the Atlin Goldfields Project from Brixton Metals for $3.2M in cash, 10M shares and $7M in work commitments, subject to a 2% NSR in favor of Brixton.

About Brixton Metals Corporation

Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Atlin Goldfields Projects located in NW BC (under Option to Pacific Bay Minerals, the Langis-HudBay silver-cobalt-nickel Project in Ontario, and the Hog Heaven copper-silver-gold Project in NW Montana, USA (under option to Ivanhoe Electric Inc.). 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 CEOTel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations, please contact:

Neil MacRae, Investor RelationsTel: 604-630-9707 or email: neil.macrae@brixtonmetals.com

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.

Figures accompanying this announcement are available at

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https://www.globenewswire.com/NewsRoom/AttachmentNg/3c372bcd-2d38-4833-a2cf-cd8627e281bf

https://www.globenewswire.com/NewsRoom/AttachmentNg/a5f60b47-ebb0-49e7-883e-1ed6f934e842

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