Brixton Metals Announces Closing of Option Agreement to Acquire a 100% Interest in the Silver Focused Silvergruvan Project in Sweden

Brixton Metals Corporation (BBB) announced the closing of an option agreement to acquire a 100% interest in the Silvergruvan Project in Sweden from McKnight Resources AB. The transaction requires $1.5 million in share issuances and $3.3 million in exploration expenditures over a three-year period to fully exercise the option. Upon exercise, Brixton grants McKnight a 2.0% Net Smelter Returns (NSR) royalty, which can be reduced to 1.0% via a $1.5 million cash payment or share issuance.

The 1,460-hectare property is located in the Bergslagen province, near major active polymetallic operations like Garpenberg, and targets silver, gold, lead, zinc, antimony, and indium. Historical sampling shows high-grade silver (up to 800 g/t Ag), lead, and zinc, though no modern mineral resource has been calculated. Shares issued under the option are subject to a 4-month statutory hold and a voluntary 12-month lock-up schedule.

Brixton Metals Corporation (BBB) has acquired a strategic portfolio expansion into a proven silver-zinc district characterized by favorable geology and existing infrastructure. The consideration structure is heavily equity-based, meaning dilution will occur gradually over three years rather than through immediate cash outlays. The $3.3 million exploration commitment is manageable given recent capital raises, but it adds to the company's ongoing burn rate. A 2.0% NSR royalty is standard for early-stage option agreements and does not materially impact near-term economics. This is an expected, incremental step in the company's exploration strategy rather than a transformative event. It aligns with the company's focus on high-grade silver and polymetallic assets.

Brixton Metals Corporation (BBB) is a mineral exploration company focused on high-grade silver, gold, and copper projects in Canada and the USA. Its flagship asset is the Langis Silver Project in Ontario's Cobalt camp, a past producer with 10.4 moz of silver. The company is advancing toward a maiden mineral resource estimate (MRE) and evaluating historic tailings for near-term cash flow. The 2026 drill program includes ultra-high-grade silver intercepts, including intervals exceeding 80,000 g/t Ag.

The company also holds other projects, including the Thorn Project in British Columbia, which features copper-gold porphyry discoveries; Hog Heaven in Montana, which is optioned to Ivanhoe Electric; Atlin Goldfields in British Columbia, which is optioned to Eldorado Gold; and Silvergruvan in Sweden. Brixton Metals is transitioning from a pure explorer to a developer, with a focus on defining resources and advancing toward production decisions.