Mr. Gary Thompson reports

BRIXTON METALS ANNOUNCES CLOSING OF OPTION AGREEMENT TO ACQUIRE A 100% INTEREST IN THE SILVER FOCUSED SILVERGRUVAN PROJECT IN SWEDEN

Further to the news release dated Sept. 23, 2026, the TSX Venture Exchange has approved for filing Brixton Metals Corp.'s option agreement with McKnight Resources AB, an arm's-length party, pursuant to which McKnight has granted to Brixton the sole, exclusive and irrevocable right and option to acquire an undivided 100-per-cent interest in and to certain mineral exploration permits located in Hallefors municipality, Orebro county, south-central Sweden, commonly known by the names Silvergruvan 100 and Silvergruvan 200. No finders' fees are payable in connection with the option.

The Silvergruvan property comprises 1,460 hectares, and is prospective for silver, gold, lead, zinc, antimony and indium. The Silvergruvan property saw historical mining activity spanning from the 1600s to the late 20th century and sits on the western margin of the Bergslagen province, placing the property in immediate proximity to major active polymetallic operations. Silvergruvan shares similar geology to major silver-lead-zinc deposits like Garpenberg, Sala and Zinkgruvan in the region.

According to Boliden, in 2025, the most valuable commodity for Garpenberg was silver. Silver accounted for 47 per cent of the revenue, followed by zinc 32 per cent, gold at 11 per cent, lead at 10 per cent and copper at less than 1 per cent.

Transaction highlights

Brixton may exercise the option on completion of the following.

Upon Brixton exercising the option, it shall grant a 2.0-per-cent net smelter return royalty on the Silvergruvan property in favour of McKnight, subject to a right at any time to reduce the royalty to 1.0 per cent by paying $1.5-million or, subject to applicable approval of the recognized stock exchange on which the shares are then listed, issuing shares equal to $1.5-million, such shares having an issue price, as and when issued, equal to the 20-day volume-weighted average trading price of the shares on a recognized stock exchange on which the shares are then listed, such price being based on the 20 trading days preceding the date the company elects to issue such shares.

All share issuances and exploration expenditures are at the discretion of Brixton. Brixton may make up any shortfall in exploration expenditures for a period by making a cash payment to McKnight before the end of such period. Brixton may also accelerate the option by making any share issuances and exploration expenditures within a shorter period of time. Brixton shall act as operator during the option period.

All shares issued pursuant to the option agreement will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. In addition, each tranche of share issuance under the option agreement will be subject to a voluntary lock-up subject to a release schedule of 25 per cent on issuance, 25 per cent four months from the date of issuance, 25 per cent eight months from the date of issuance and 25 per cent 12 months from the date of issuance.

Qualified person

Gary Thompson, PGeo, is the chairman and chief executive officer and a senior geologist for the company, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Thompson has reviewed and approved the technical information presented herein. The QP conducted a site visit on Aug. 25, 2026, and considers Silvergruvan a property of merit and recommends further exploration. Further, the QP has not completed sufficient work on the historical data to confirm the accuracy of the information provided, and there is no certainty that further exploration will result in a mineral resource.

About Brixton Metals Corp.

Brixton Metals is a Canadian exploration company focused on advancing its mining projects. Brixton wholly owns five exploration projects: the Langis and Hudson Bay silver projects in Ontario; the Thorn copper-gold-silver-molybdenum project in northwestern British Columbia; the Hog Heaven copper-silver-gold project in northwestern Montana, United States, which is optioned to Ivanhoe Electric Inc.; and the Atlin goldfields project in northwestern B.C. Brixton holds an option to acquire a 100-per-cent interest in the silver-focused Silvergruvan project in Sweden. Brixton shares trade on the TSX Venture Exchange under the ticker symbol BBB and on the OTCQX under the ticker symbol BBBXF.

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