June 25, 2013 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) announces that Hecla Mining Company (“Hecla”) is exercising its pre-emptive right to maintain its pro-rata interest in the Company (the “Transaction”) pursuant to the terms of an ancillary rights agreement between Brixton and Hecla dated February 26, 2013 (the “Ancillary Rights Agreement”). As a result, a wholly-owned subsidiary of Hecla will subscribe for 1,700,000 common shares (“Shares”) of Brixton at a price of $0.18 per Share and 450,000 Shares at a price of $0.16 per Share for aggregate gross proceeds of approximately $378,000. On closing, Hecla will own approximately 19.8% of the Company’s issued and outstanding common shares.
Pricing of the Shares was determined in accordance with the terms of an Ancillary Rights Agreement. All securities issued pursuant to the Transaction will be subject to a four month and one day hold period.
The closing date of the Transaction will occur on June 26, 2013, or such other date as may be required. The proceeds from the Transaction will be used for general corporate and administrative purposes.
About Brixton Metals Corporation and the Thorn Project
Brixton Metals is an exploration company focused on the advancement of high-grade precious metal assets to feasibility. The primary focus at the Thorn project is high-grade silver-gold-leadzinc-bearing diatreme-breccia zones and high-grade gold-silver-copper veins. Secondary targets include porphyry, skarn, replacement, and bulk tonnage gold targets. The Thorn project covers a Cretaceous volcanic-porphyry complex that shares many similarities with other high sulphidation deposits around the world such as Lepanto-FSE in the Philippines, Penasquito in Mexico and El Indio in Chile. The 27,000-hectare Thorn Project is located in the Sutlahine River area of Northwestern British Columbia, Canada, approximately 40km from Chieftain’s Tulsequah Chief mine development.
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.GaryR.Thompson, Chairman and CEO,
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