Brixton Metals Consolidates the Atlin Gold Camp and Completes Initial Exploration
Brixton Metals Consolidates the Atlin Gold Camp and Completes Initial Exploration
August 7, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased
to announce it has entered into a series of separate asset purchase and sale agreements to acquire
a 100 percent interest in 29,608 hectares of mineral rights in the Atlin Gold Camp of British Columbia
(the “ Atlin Properties”) and related transactions . Brixton will acquire the claims comprising the
28,589 hectare Spruce and Yellowjacket properties by issuing 4,300,000 common shares (the
“Property Shares ”) and making a $50,000 payment on closing to Desert Mountain Energy
Corporation (TSXV: DME), formerly African Queen Mines Ltd. The Property Shares will be subject
to voluntary trading restrictions and released over a period of 24 months. The claims comprising the
Spruce property are subject to a 1.0% NSR, which Brixton may purchase for $1,250,000. The claims
comprising the Yellowjacket property are subject to a 2.5% NSR , where Brixton has agreed to
purchase 1.0% NSR from a private owner for 200,000 common shares and $10,000. The resulting
NSR on the Yellowjacket claims are 1.5% , which Brixton holds the right to acquire for $1,650,000.
Brixton will acquire the 1,019 hectare McKee and Otter Properties by issuing to private sellers an
aggregate of 250,000 common shares. The McKee and Otter Properties are subject to a 1% NSR,
which Brixton holds the right to purchase 0.5% NSR for $250,000. Most of the claims held by Brixton
have low to no royalties. The transaction is subject to acceptance by TSX Venture Exchange and
customary closing conditions.
Atlin Camp Claim Map
Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “ Through the acquisition of the
Desert Mountain holdings and private lands with the Company’s existing claims , Brixton has now
consolidated its holdings to 979 square kilometres to become the dominate player in the productive
Atlin gold camp. We believe the camp has district -scale potential for both intrusion related gold
deposits and orogenic Barkerville style high-grade gold vein deposits. While placer gold has been
mined in Atlin since the late 1800’s and continues today , only limited work has been conducted to
source the gold. We believe that with our st rong technical team we can unlock the potential for the
benefit of our shareholders an d local stakeholders like the Taku River Tlingit First Nations . Desert
Mountain will retain significant interest in the project through its equity interest in Brixton and a royalty
on the project.”
About the Atlin Gold Project
The wholly-owned 979 square kilometer Atlin Gold Project is located in Northwest British Columbia
east from the town of Atlin. The property is mostly accessible by road and the outer reaches are
accessible by helicopter.
In 1988, Homestake Mineral Development Company outlined the Yellowjacket gold zone by drilling
58 diamond drill holes of which gold was intercepted to 140m depth. Homestake delineated a
historical non-compliant resource estimate of 453,500 tonnes grading 10.26 g/t gold (B ritish
Columbia Department of Mines Open File 2000-2 page 41). These are historical figures and do not
comply with the CIM reporting standards National Instrument 43 -101 for mineral resources or
reserves and should not be relied upon . While Brixton considers these historical estimates to be
relevant to investors as it may indicate the presence of mineralization, a QP for Brixton has not done
sufficient work to classify the historical estimates and Brixton is not treating these historical estimates
as a current mineral resource. A few select intervals from the Yellowjacket zone are as follows: 2.12m
of 1054.12 g/t Au, 9.10m of 13.97 g/t Au, 2.74m of 38.70 g/t Au and 17.00m of 7.47 g/t Au. A previous
Yellowjacket operator received a BC Min es Act Permit in July 2009 for an open pit mine and
concentrator processing up to 75,000 tonnes per year which remains in place.
Spruce Creek, within Brixton’s Atlin G old Project, holds the provincial record for the largest gold
nugget, weighing 2.6 kilograms or 85 ounces, BCGS Paper 2017-1, p.179-193, and arguably is the
largest in Canada. Also in the Atlin camp the following gold nuggets were recovered : 73 oz nugget
from Birch Creek, 48 oz nugget from Pine Creek, 47 oz nugget from Ruby Creek and 28 oz nugget
from McKee Creek. These findings are of interest because many of the nuggets have host rock
fragments attached suggesting a low degree of transport and a local source for the gold.
During July 2018, Brixton conducted geological mapping and prospecting including the collection of
1,711 soil, 151 rock and 23 stream sediment samples which have been submitted to ALS Minerals
for analysis and results are pending. Historically, many gold bearing veins were uncovered through
trenching at the LD showing w ith two 15kg samples yielding 330 and 518 g/t Au. In 2017, Brixton
sampled up to 293 g/t Au (9.4 oz/t Au) from vein material at the LD showing and historical samples
have returned up to 1615 g/t Au (51.9 oz/t Au). The Pictou showing on the Atlin Gold project returned
14.2 g/t Au over 2.0m from surface sampling (BC Assessment report 17656). At Feather Creek ,
crystalline and hackly gold nuggets locally attached to cassiderite indicates a low degree of transport
and a proximal bedrock source.
Brixton’s extensive land position covers both Surprise Lake batholith and favourable sedimentary
rocks of the Cache Creek terrane. The Company’s plan is to conduct property scale exploration work
to generate drill targets and advance the project.
More information about Brixton’s Atlin Gold Project can be found at:
www.brixtonmetals.com/properties/atlin-gold-project/
Mr. Gary R. Thompson, P. Geo., is a Qualified Person as defined under National Instrument 43-101
standards and has reviewed and approved this news release.
About Brixton Metals Corporation
Brixton Metals Corporation is a gold-silver exploration & development company focused in Canada
and USA. Brixton wholly owns 4 projects. The advanced stage , Hog Heaven silver -gold-copper
project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects,
"Thorn (Golden Triangle)" and "Atlin" in British Columbia, Canada, have generated excellent results
to date. Lastly, two past producing high-grade silver-cobalt mines, the Langis-Hudson Bay projects,
are brownfield projects with excellent infrastructure and are located in Ontario, Canada. The Langis
and Hudson Bay mines produced at 25 and 123 opt silver, respectively. The Company is actively
seeking JV partners to advance one or more of its projects.
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 protected]
For Investor Relations, please contact Mitchell Smith:
Tel: 604-630-9707 or email: [email protected]
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 completion of the acquisition, the anticipated closing of the acquisition, TSXV
approval, and the exploration potential of the property based on resources estimates and 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 b y 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.