Brixton Metals Concludes Its December Private Placement for a Total of $12.2 Million

Executive Summary

• Brixton Metals completed the third and final tranche of its non‑brokered private placement, issuing 35,714,285 NFT Units at $0.07 each for gross proceeds of $2,499,999.95.
• Cumulative gross proceeds from all three tranches now total $12,196,193.80, which will fund a winter drill campaign at the Langis Silver Project starting January 2026 (up to 15,000 m).
• Each NFT Unit includes one Common Share and one non‑transferable warrant exercisable at $0.10 per share until 18 Dec 2028; no finders’ fees were paid on this tranche.

Key Details

• Tranche 3 Structure: 35,714,285 Non Flow‑Through (NFT) Units @ $0.07 per unit → $2,499,999.95 gross proceeds.
• Cumulative Financing: Tranche 1 – $5,698,269.06; Tranche 2 – $3,997,924.79; Tranche 3 – $2,499,999.95 → Total $12,196,193.80.
• Unit Composition: Each NFT Unit = 1 Common Share + 1 non‑transferable warrant (right to purchase an additional Common Share at $0.10 until 18 Dec 2028).
• Use of Proceeds: Primary allocation to a winter drill program at the wholly‑owned Langis Silver Project (Ontario) – up to 15,000 m planned for Phase 1 beginning Jan 2026; remainder for general corporate purposes.
• Project Highlights – Langis Silver: Past producer (1908‑1989) with 10.4 Moz Ag at 25 opt (778 g/t). Recent historic drill results:
• Hole 283 (2022): 9 m @ 1,037 g/t Ag (including 4 m @ 2,043 g/t Ag).
• Hole 219 (2021): 22 m @ 392.8 g/t Ag (including 7 m @ 919.3 g/t Ag).
• Warrant Terms: Exercise price $0.10 per share; expiry 18 Dec 2028; non‑transferable.
• Regulatory Exemption: Offering completed under the Listed Issuer Financing Exemption (NI 45‑106 Part 5A); securities not subject to a hold period in Canada.
• No Finder Fees: The third tranche incurred no finder’s fees.
• Qualified Person: Gary R. Thompson, P.Geo., Chairman, CEO & President, qualified under NI 43‑101, reviewed and approved technical data.

Notable Quotes

“We would like to thank our shareholders for their continued support and welcome new investors to the Company. As previously stated, a portion of proceeds will immediately be directed toward a winter drill campaign at Brixton’s wholly owned Langis Silver Project in Ontario.” – Gary R. Thompson, Chairman & CEO

Materiality Assessment: Material – Positive (significant financing that enables upcoming exploration program).