Mr. Gary Thompson reports

BRIXTON METALS ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT FOR AGGREGATE GROSS PROCEEDS OF $9.1 MILLION

Brixton Metals Corp. has closed a third and final tranche of its previously announced non-brokered private placement offering of units of the company, pursuant to which the company issued 264,800 units at a price of 66 cents per unit for aggregate gross proceeds of $174,768. In total, the company has raised gross proceeds of $9,131,422.02 across all tranches of the unit offering and its previously announced non-brokered private offering of national flow-through shares in the capital of the company.

Each unit consists of one common share in the capital of the company and one common share purchase warrant, with each warrant exercisable to purchase one additional common share until Aug. 27, 2029, at an exercise price of 90 cents. The warrants are subject to an accelerated expiry if, any time after the date that is four months and one day after the closing date of the unit offering, the closing price of the common shares of the company on the TSX Venture Exchange, or such other market as the shares may trade from time to time, is or exceeds $1.40 for 10 consecutive trading days, in which event the holders of the warrants may, at the company's election, be given notice and the company will issue a press release announcing that the warrants will expire 10 days following the date of such press release. The warrants may be exercised by the holder of the warrants during the 10-day period between the date of the press release announcing the accelerated expiry date and the expiration of the warrants.

The net proceeds from the unit offering will be used for exploration at the Langis silver project and for general working capital purposes.

In connection with completion of the third and final tranche of the unit offering, the company has issued 18,536 non-transferable share purchase warrants to an arm's-length third party which assisted in introducing subscribers. Each finder's warrant issued under the third and final tranche of the unit offering is exercisable at an exercise price of 66 cents until Aug. 27, 2029, and each finder's warrant is subject to the same acceleration provisions as the warrants. In total, the company has paid finders' fees of $155,176.56 and issued 473,322 finders' warrants across all tranches of the unit offering.

All securities issued in connection with the third and final tranche of the unit offering are subject to a hold period expiring on Dec. 28, 2026, in accordance with applicable securities laws.

We seek Safe Harbor.