May 10, 2016 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has entered into an Exploration Agreement (the “Agreement”) dated May 2, 2016 with Timiskaming First Nation (“TFN”) with respect to the Company’s Langis Silver project and other Cobalt lands. The Agreement is based on mutual respect and openness and sets the framework for advancing a long-term relationship while working in good faith to negotiate an Economic Benefits Agreement, should Brixton define an economic mineral deposit within the TFN traditional lands. The Agreement includes employment, business and training opportunities for TFN members and an annual Community Contribution based on exploration budgets.
Timiskaming First Nation Chief Terence McBride stated,” Timiskaming First Nation is pleased to welcome Brixton Metals to the territory and look forward to an on-going relationship with a Company that respects both TFN’s aboriginal rights and our commitment to both protecting the environment and sustainable development.”
Chairman and CEO of Brixton, Gary R. Thompson stated, “We are very happy with the cooperation and support that we have received from the TFN with our proposed activities in the region. We believe that this milestone agreement provides Brixton a clear path to its project development within the TFN traditional territory. “
About Brixton Metals Corporation
Brixton is a Canadian exploration and development company focused on the advancement of its projects toward feasibility. Brixton wholly owns two exploration projects, the Langis Silver project and the Thorn gold-silver project.
The Langis project, including other lands in the Cobalt Camp is about 3,200 hectare in size. The project is located 500 km north of Toronto, Canada. The high-grade silver mineralization occurs as steeply-dipping veins within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase. The unmined Langis zone intersected by drilling: 19,229 g/t Ag over 0.49 metres, 1,550 g/t Ag over 9.4 metres and 1,262.80 g/t Ag over 3.9 metres. Past production at Langis was 10.4 Moz Ag at a recovery grade of 25 oz/t Ag. A preliminary video for Langis is at the following link: https://youtu.be/8EvToTSCZTk
The 28,000 hectare Thorn Project is located in the Sutlahine River area of northwestern British Columbia, Canada, approximately 105 km ENE from Juneau, AK. The Thorn project hosts a district scale Triassic to Cretaceous volcano-plutonic complex with several styles of mineralization related to porphyry and epithermal environments. Targets include sediment hosted gold-silver, high-grade Ag-Au-Pb-Zn bearing diatreme-breccia, high-grade Au-Ag-Cu veins and volcanic hosted structurally controlled high-grade gold-silver. Brixton has established a maiden inferred resource of 21.5Moz AgEq from 7.4 Mt at 89.75 g/t AgEq. Further information regarding the resource estimates, can be found on the in the Company’s technical report prepared by SRK Consulting dated December 12, 2014 and filed on SEDAR. Read more at http://brixtonmetals.com/thorn-technical-reports/
Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: email@example.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the issuance of the Brixton Shares and TSXV approval and the exploration potential of the Langis property based on historical information resources estimates on the Thorn Project are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.