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Brixton Metals Corporation (TSX-V: BBB, OTCQX: BBBXF) (the "Company" or "Brixton") announces that, further to its news release dated September 23, 2026, the TSX Venture Exchange (the "TSXV") has approved for filing the Company's option agreement (the "Option Agreement") with McKnight Resources AB ("McKnight"), an arm's length party, pursuant to which McKnight has granted to Brixton the sole, exclusive and irrevocable right and option (the "Option") to acquire an undivided 100% interest in and to certain mineral exploration permits located in Hällefors Municipality, Örebro County, south central Sweden, commonly known by the names "Silvergruvan 100" and "Silvergruvan 200" (collectively, the "Silvergruvan Property"). No finder's 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 Garpenberg(1), Sala, Zinkgruvan(1) in the region.
According to Boliden, in 2025, the most valuable commodity for Garpenberg was silver. Silver accounted for 47% of the revenue, followed by zinc 32%, gold at 11%, lead at 10% and copper at less than 1%.(2)
Transaction Highlights
Brixton may exercise the Option on completion of the following:
| Date | Share Issuances(*) | Exploration Expenditures | ||
| On or before the 1st anniversary of the Option effective date(**) | $150,000 | $300,000 | ||
| On or before the 2nd anniversary of the Option effective date | $250,000 | $1,000,000 | ||
| On or before the 3rd anniversary of the Option effective date | $500,000 | $2,000,000 | ||
| Any time following completion of the above Share issuances and exploration expenditures | $600,000 | |||
| TOTAL | $1,500,000 | $3,300,000 | ||
(*) Any common shares in the capital of the Company (the "Shares") issued pursuant to the Option Agreement 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 $0.50 being the ‘Discounted Market Price' of Shares on the TSXV as of September 23, 2026.
(**) The Option effective date being October 21, 2026.
Upon Brixton exercising the Option, it shall grant a 2.0% net smelter returns royalty (the "Royalty") on the Silvergruvan Property in favour of McKnight, subject to a right at any time to reduce the Royalty to 1.0% by paying $1,500,000 or, subject to applicable approval of the recognized stock exchange on which the Shares are then listed, issuing Shares equal to $1,500,000, 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 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.
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 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% on issuance, 25% four months from the date of issuance, 25% eight months from the date of issuance and 25% twelve months from the date of issuance.
Reference Sources and Links
(1) https://www.boliden.com/operations/mines/boliden-garpenberg/
(1) https://www.boliden.com/operations/mines/boliden-zinkgruvan/
(2) Mineral Resources and Mineral Reserves Garpenberg 2025-12-31 (click link)
Qualified Person (QP)
Mr. Gary Thompson, P.Geo., is the Chairman and CEO 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 August 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 Corporation
Brixton Metals is a Canadian exploration company focused on advancing its mining projects. Brixton wholly owns five exploration projects: the Langis and Hudson Bay silver Projects in Ontario; the Thorn copper-gold-silver-molybdenum Project in NW British Columbia; the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc.; and the Atlin Goldfields Project in northwest BC. Brixton holds an option to acquire a 100% interest in the silver-focused Silvergruvan Project in Sweden. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQX 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 CEO
info@brixtonmetals.com
For Investor Relations inquiries, please contact: Mr. Michael Rapsch, Vice President Investor Relations. email: michael.rapsch@brixtonmetals.com or call Tel: 604-630-9707.
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Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release may involve forward-looking information under applicable securities laws. Forward-looking information are statements and information that relate to future, not past, events. In this context, forward-looking information often addresses expected future business and financial performance, and often contains words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend"; information and statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All information other than information of historical fact included herein are forward-looking information, including, without limitation, information regarding the Company's business plans and strategies of operations, the Silvergruvan Property and potential for exploration; and the Option. By its nature, forward-looking information involves 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 information. 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 information is based on management's beliefs, estimates and opinions on the date that such information is provided and the Company undertakes no obligation to update forward-looking information 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 information.
