July 19, 2013 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce the signing of an exploration agreement with the Taku River Tlingit First Nation (TRTFN) regarding the Company’s Thorn property in the Sutlahine River area of Northwestern British Columbia (Thorn). Under the agreement, the TRTFN recognize and support Brixton’s rights and interests in its Thorn property and Brixton recognizes and respects the TRTFN’s rights and environmental interests.
The agreement will allow for Brixton and the TRTFN to cooperatively establish a long-term relationship based on mutual respect and openness towards developing an Economic Benefits Agreement (EBA).
Chairman and CEO of Brixton, Gary Thompson stated “This agreement with the Taku River Tlingit First Nation is a very positive step towards working in collaboration with the local community and we are happy to be able to draw from local talent as we advance the Thorn project.” Mr. Thompson further added “As we continue to build our relationship with the TRTFN we see a clear path to project development.”
Commenting on the Agreement, TRTFN spokesperson, John Ward stated, “The spirit of cooperation and the commitment to collaboration demonstrated by Brixton shows a change from First Nations facing ‘take it or leave it’ offers. Our dialogue was one of respect, which was a key factor in giving us the confidence to consent to this project, and this agreement. It sets a positive precedent for letting the public know that Taku River Tlingits have the capacity to create these kinds of relationships.”
This Agreement applies to and governs the Exploration Activities only. Notwithstanding this, TRTFN and Brixton acknowledge that if the Exploration Activities are successful and demonstrate a feasible mining project, it is their mutual desire to continue to build a long-term respectful relationship. Once a final feasibility study has been completed by Brixton confirming the Project’s viability, the Parties have agreed to commence negotiating in good faith, an EBA. The EBA will be a comprehensive agreement governing Thorn including the relationship between the parties with respect to the permitting, construction, operation and closure of a Thorn mine and will address, among other things, the following key topics:
a) Environmental assessment review process and consultation approach
b) Social and cultural protection
c) Employment, training and contract opportunities
d) Project liaison committee
e) TRTFN support for the Project
As part of this arrangement, TRTFN will consent to Exploration Activities and support the development of the Thorn Project, so long as Brixton complies with the terms of the Exploration Agreement. Brixton’s commitments under the Exploration Agreement provides TRTFN with an Annual Community Contribution based on the Company’s annual exploration budget, as well as opportunities for local employment, training and contracting related to the project. In addition, Brixton has committed to annually review work planning with TRTFN prior to each ensuing season.
About Brixton and its 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-lead-zinc-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 Jurrassic to 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. Gary R.Thompson, Chairman and CEO,
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, the anticipated issuance of the Property Shares or the Settlement Shares, TSXV final approval for the Private Placement and approval for the issuance of the Property Shares or the Settlement Shares, use of proceeds 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.