Brixton Metals Receives Results from Ongoing Exploration at the Hog Heaven Project, Demonstrating Further Evidence for the Existence of a Porphyry System

Ivanhoe Electric Drills 348m of 1.08 g/t AuEq Containing 0.43 g/t Gold, 40.48 g/t Silver, 0.22% Lead, and 0.12% Zinc

Including 1m of 36.94 g/t AuEq Containing 2180 g/t Silver, 5.16 g/t Gold, 0.63% Copper, 6.00% Lead, 6.14% Zinc

VANCOUVER, British Columbia, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce additional results from the 2023 Exploration Program on the Hog Heaven Project, which is currently being operated under a definitive Earn-in Agreement with Ivanhoe Electric Inc. (see news release dated March 2nd, 2021). Ivanhoe Electric holds the option to acquire up to 75% interest by completing USD$40 million of project spending and paying Brixton USD$4.5 million. Hog Heaven is an advanced-stage, high-sulphidation, epithermal copper-silver-gold project with historical production and copper porphyry potential located 50 miles southwest of Kalispell, in the state of Montana, USA.

Highlights from Ivanhoe Electric’s February 5^th, 2024 News Release:

• Drilling results to date expand high-sulphidation mineralization and provide evidence to support the existence of a porphyry deposit at the Hog Heaven Project
  
• Exploration Drill Hole HHD-007 Intersects 348 Meters Containing 0.43 g/t gold, 40.48 g/t silver, 0.22% lead, and 0.12% zinc, from 141 to 489 Meters or 348m of 1.08 g/t AuEq
  
  • Including 1m of 2,180 g/t silver, 5.16 g/t gold, 6.00% lead, 6.14% zinc and 0.63% copper from 147.8 to 148.8 or 1m of 36.94 g/t AuEq
    
• Hole HHD-009 returned 145m of 0.91 g/t AuEq (0.26 g/t gold, 27.47 g/t silver, 0.20% copper)
  
  • Including 0.95m of 24.96 g/t AuEq (5.39 g/t gold, 524 g/t silver, 7.99% copper)
    
• Since June of 2023, a total of 10,905 Meters in 12 drill holes have been completed
  
• Results are pending for Ivanhoe Electric’s Typhoon^TM geophysical survey on the project
  
• Porphyry-style stockwork quartz veining observed in numerous clast fragments entrained within a late intrusion provides additional evidence for a porphyry system. The objective of recent work is to search for porphyry copper mineralization at depth.
  

Chairman and CEO Gary R. Thompson stated: “Exploration drilling continues to intersect long intervals of high-sulphidation gold-silver-copper-lead-zinc mineralization at the Hog Heaven Project. High-sulphidation epithermal mineralization is known to be associated with and generally located above copper porphyry type deposits. We look forward to the next batch of drill assays and Ivanhoe Electric’s Typhoon survey results from the ongoing program at the Hog Heaven Project.”