President’s Letter to Shareholders

VANCOUVER, British Columbia, Jan. 08, 2020 (GLOBE NEWSWIRE) --

Dear Shareholders and Investors,

The past year was an exciting time for Brixton Metals, where we drilled 9,642m between the Thorn and Atlin Projects and raised more than $10M in what remains a challenging market for junior exploration companies. We thank you for your support and sustained optimism as we continue to unlock the mountain of value and generate new discoveries on our wholly owned projects.

Our priority is creating shareholder value, which is steeped in acquiring gold, silver and copper assets at a reasonably low cost. Through a systematic exploration process, we intend to unlock value as we advance them to feasibility.

Highlights from 2019

The Thorn Project located in the northern tip of BC’s Golden Triangle received most of our attention during the work season, where efforts were made to locate one or more of the porphyry centers. Drill hole THN19-150 was drilled to 829m in depth, which returned 554.70m of 1.97 g/t AuEq (0.57 g/t Au, 0.24% Cu, 43.18 g/t Ag, 0.55% Zn, 0.28% Pb), including 135.96m of 5.00 g/t AuEq (1.35 g/t Au, 0.31% Cu, 133.62 g/t Ag, 1.61% Zn, 0.89% Pb). See Brixton Metal’s Press Release, dated July 15, 2019 for complete results. Hole 150 ranks amongst the best drill intercepts globally of 2019. The Thorn Project mineral claim package was increased to 2,300 square kilometers.

A new camp was established at Brixton Metals’ Atlin Goldfields Project followed by prospecting, soil-geochemical, magnetic geophysical surveys and drilling. This work identified a new area of interest with a 45 g/t Au rock grab sample⁽¹⁾ from Union Mountain and drilling at the LD Zone returned 2m of 8.5 g/t Au. See Brixton Metals’ Press Release, dated September 16, 2019 for complete results. 

2020 Outlook

We envision a three-pronged approach to unlocking value for shareholders during 2020. We plan to continue exploration activities with our current treasury of $5.5M, seek M&A opportunities, and secure JV partnerships with senior companies.

1. At the Thorn Project we plan to complete the following: the deep seeing IP-MT geophysical survey (9 line-kilometers over the Camp Creek Copper Corridor); conduct a broad scale soil geochemical survey over the southern portion of the property, where a large area of high porphyry copper indicators were identified; conduct a detailed soil geochemical survey at the Outlaw west area, where 39 g/t Au and 12 g/t Au was returned from rock grab samples in 2018⁽¹⁾; complete selective drilling based on the results of the above. The Camp Creek blind porphyry target remains a priority with its multi-kilometer scale potential.