Vancouver, British Columbia, June 1, 2012 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce plans for phase one of its 2012 exploration program and news from its Annual General Meeting which was held on May 31, 2012.
Exploration Activity
Brixton Metals is preparing to commence drilling towards the end of June 2012 at its Thorn project located in Northwestern British Columbia. Exploration will be focused at the porphyry related Oban Breccia Zone. The drilling plan includes 10-15 NQ core holes for an estimated 1500 metres of drilling. The objectives of this program are as follows:
- Determine geometry, true width, trend and expand where possible both the high-grade 9 m intercept of hole 60 which returned 2,984 g/t Ag, 3.04 g/t Au, 0.53% Cu, 11.65% Pb and 3.42% Zn and the broader 95 m interval of hole 60 that returned 628 g/t Ag, 1.71 g/t Au, 3.31% Pb and 2.29% Zn and 0.12% Cu. THN11-60 was drilled during the Company’s 2011 drill program (as previously stated in the News Release dated January 5th 2012).
- Drill test a surface gold showing located 120 m from the hole 60 collar where rock sampling from a silica-rich Oban breccia outcrop returned 25.9 g/t gold.
- Drill test and expand the surface or near surface silver-gold mineralization within Oban.
- Locate the source of a rock float sample within the Oban breccia zone that returned 5,434 g/t Ag, 42.9% Pb, 3.4 g/t Au and 3.4% Zn.
Annual General Meeting
Mr. Jim Defer, CA, CBV, was appointed as a new member of the board, and Gary R. Thompson, Cale Moodie and George Salamis were re-appointed members of the board. Mr. Thompson and Mr. Moodie were re-appointed as Chairman-CEO and CFO respectively.
Mr. Defer is currently CFO of Compliance Energy and has 20 years of experience in investment banking, capital markets, corporate finance, accounting, valuation and financial advisory services. In that time he has been involved in over 200 transactions raising in excess of $4 Billion.
The Company extends much gratitude to Glen Kayll for his services as a Board member. Mr. Kayll shall remain as an advisor to the Company.
Ms. Penny Green was appointed as Advisor to the Board. Ms. Green is the founder and CEO of Bacchus Law Corporation and has over 16 years of experience as a securities lawyer, executive officer, founder, director and investor in private and public companies.
Stock Options
The board of directors has approved the grant of 1,300,000 incentive stock options to employees, consultants, advisors and directors of the company at an exercise price of $0.11 per share. The options have a ten year term from the date of grant and are subject to vesting over 12 months with one-quarter of the options vesting each quarter.
About Brixton Metals Corporation
Brixton is an exploration company engaged in the acquisition and exploration of precious and base metal assets and advancing them to feasibility. Brixton’s Thorn Project is centered on high grade silver-gold-copper-lead-zinc-bearing breccia zones, high-grade veins and porphyry targets. The Thorn property is located in Northwestern British Columbia, Canada, about 50 km from the past producing Golden Bear Mine and 130 km southwest from the village of Atlin. 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
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, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the planned exploration programs and uncertainties related to the outcome of exploration programs, 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; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and Excelsior 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.
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