Brixton Metals Enters into Option Agreement to Acquire a 100% Interest in the Silver Focused Silvergruvan Project in Sweden
Brixton Metals Enters into Option Agreement to Acquire a 100% Interest in the
Silver Focused Silvergruvan Project in Sweden
VANCOUVER, British Columbia, September 23, 2026 - Brixton Metals Corporation (TSX-V:
BBB, OTCQX: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has entered
into an option agreement (the “Option Agreement”) with McKnight Resources AB (“McKnight”),
an arm’s length party, pursuant to which McKnight has granted to Brixton the sole, exclusive and
irrevocable right and option (the “Option”) to acquire an undivided 100% interest in and to certain
mineral exploration permits located in Hällefors Municipality, Örebro County , south central
Sweden, commonly known by the names “Silvergruvan 100” and “Silvergruvan 200” (collectively,
the “ Silvergruvan Property”) . The Option Agreement remains subject to the receipt of
acceptance from the TSX Venture Exchange (the “ TSXV”). No finder ’s fees are payable in
connection with the Option.
The Silvergruvan Property comprises 1,460 hectares and is prospective for silver, gold, lead,
zinc, antimony and indium . The Silvergruvan Property saw historical mining activity spanning
from the 1600s to the late 20th century and sits on the western margin of the Bergslagen province,
placing the property in immediate proximity to major active polymetallic operations. Silvergruvan
shares similar geology to major silver-lead-zinc deposits like Garpenburg (1), Sala, and
Zinkgruvan(1) in the region.
Chairman and CEO Gary R. Thompson, stated : “The Silvergruvan Property represents an
attractive opportunity for new discoveries in a region that has not seen much modern exploration,
yet it shares similar geology to Garpenburg, one of the world’s most productive undergr ound
zinc mines. In 2025, Boliden stated most of this mine’ s revenue was from silver and is a long -
life mine with deep rooted mineralization where mining reaches 1,500 meters depth and remains
open.” (1,2)
According to Boliden, in 2025, the most valuable commodity for Garpenberg was silver. Silver
accounted for 47% of the revenue, followed by zinc 32%, gold at 11%, lead at 10% and copper
at less than 1%.(2)
Silvergruvan History
1635 - silver first discovered.(3)
Tumi Resources (news release, May 15, 2008) stated, " No production figures are available for
the eastern silver mines , but during 1878- 1896 and 1915- 1917, 9,000 tonnes were produced
from the western silver mines grading approximately 1,560 g/t Ag, 12% Zn and 38% Pb. Records
indicate that between 1639 and 1852, Hällefors produced just over 480,000 oz of silver…".
1892 - From the report, “The Minerals of the Silver Mines of Hällefors”, the average grade of ore
from the western fields was 0.156% Ag. In the years of 1639 - 1852, the silver-bearing
ore mined was 15 tons.(4)
1977 - Boliden restarts underground mining at eastern fields.
1997 - Boliden forms JV with Lundin Group and drills 2,000 meters at western fields.
2008 - Tumi Resources forms JV with Goldsearch; conducts EM survey, no drilling.
2026 - McKnight acquired Silvergruvan through staking.
2026 - Rock grab samples collected by McKnight with assays in Figure 1 (below).
Figure 1. Select rock grab sample photographs/assays from the Silvergruvan Property 2026.
Sixteen waste dump rock grab samples from the Silvergruvan Project were collected by
McKnight and of these; 9 samples were greater than 200 g/t silver including 6 were greater than
500 g/t silver with a high of 800 g/t silver; 5 samples returned greater than 1 g/t gold with a high
of 1.8 g/t gold; 8 samples returned greater than 5% lead with a high of 18.4% lead; 8 samples
returned greater than 5% zinc with a high of 20.90% zinc; 5 samples returned greater than 1000
ppm antimony with a high of 1480 ppm antimony; and 4 samples returned greater than 100 ppm
indium with a high of 188 ppm indium.
Infrastructure and Logistics
The Silvergruvan P roperty location has y ear-round heavy vehicle road access, excellent
proximity to the national industrial power grid, and an experienced local mining workforce.
Current Mineral Resources
No mineral resource statement has been calculated at the Silvergruvan Property in modern
times.
Transaction Highlights
Brixton may exercise the Option on completion of the following:
Date Share Issuances(*) Exploration Expenditures
On or before the 1 st
anniversary of the Option
effective date
$150,000 $300,000
On or before the 2 nd
anniversary of the Option
effective date
$250,000 $1,000,000
On or before the 3 rd
anniversary of the Option
effective date
$500,000 $2,000,000
Any time following
completion of the above
Share issuances and
exploration expenditures
$600,000
TOTAL $1,500,000 $3,300,000
(*) Any common shares in the capital of the Company (the “ Shares”) issued pursuant to the
Option Agreement shall have an issue price, as and when issued, equal to the 20-day volume
weighted average trading price of the Shares on a recognized stock exchange in Canada on
which the Shares are then listed, such price being based on the 20 trading days preceding the
date the Company elects to issue such Shares; provided, however, that the issue price shall
not be less than $0.50 being the ‘ Discounted Market Price’ of Shares on the TSX V as of the
date of this news release.
Upon Brixton exercising the Option, it shall grant a 2.0% net smelter returns royalty (the
“Royalty”) on the Silvergruvan Property in favour of McKnight, subject to a right at any time to
reduce the Royalty to 1.0% by paying $1,500,000 or issuing Shares equal to $1,500,000, such
Shares shall have an issue price, as and when issued, equal to the 20- day volume weighted
average trading price of the Shares on a recognized stock exchange in Canada on which the
Shares are then listed, such price being based on the 20 trading days preceding the date the
Company elects to issue such Shares; provided, however, that the issue price shall not be less
than $0.50 being the ‘ Discounted Market Price’ of Shares on the TSX V as of the date of this
news release.
All Share issuances and exploration expenditures are at the discretion of Brixton. Brixton may
make up any shortfall in exploration expenditures for a period by making a cash payment to
McKnight before the end of such period. Brixton may also accelerate the Option by making any
Share issuances and exploration expenditures within a shorter period of time. Brixton shall act
as operator during the Option period.
All Shares issued pursuant to the Option Agreement and Royalty will be subject to a hold period
of four months and one day from the date of issuance in accordance with applicable Canadian
securities laws. In addition, each tranche of Share issuance under the Option Agreement will
be subject to a voluntary lock-up subject to a release schedule of 25% on issuance, 25% four
months from the date of issuance, 25% eight months from the date of issuance and 25% twelve
months from the date of issuance.
Reference Sources and Links
(1) https://www.boliden.com/operations/mines/boliden-garpenberg/
(1) https://www.boliden.com/operations/mines/boliden-zinkgruvan/
(2) Mineral Resources and Mineral Reserves Garpenberg 2025-12-31 (click link)
(3) History of Mines in Sweden (click link)
(4) Nils Sundius, Alexander Parwel and Benita Rajandi, Geological Survey of Sweden: “The
Minerals of the Silver Mines of Hällefors”, 1966.
Qualified Person (QP)
Mr. Gary Thompson, P.Geo., is the Chairman and CEO and a senior geologist for the Company
who is a ‘Qualified Person’ as defined by National Instrument 43-101 – Standards of Disclosure
for Mineral Projects . Mr. Thompson has reviewed and approved the technical information
presented herein. The QP conducted a site visit on August 25, 2026 and considers Silvergruvan
a property of merit and recommends further exploration. Further, the QP has not completed
sufficient work on the historical data to confirm the accuracy of the information provided, and
there is no certainty that further exploration will result in a mineral resource.
About Brixton Metals Corporation
Brixton is a Canadian exploration company focused on the advancement of its mining projects.
Brixton wholly owns four exploration projects: Brixton’ s flagship Thorn copper -gold-silver-
molybdenum project, the Langis and Hudson Bay silver projects in Ontario, the Hog Heaven
copper silver-gold project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., and
the Atlin Goldfields project located in northwest BC, which is optioned to Eldorado Gold
Corporation. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol
BBB, and on the OTCQX under the ticker symbol BBBXF. 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
For Investor Relations inquiries, please contact: Mr. Michael Rapsch, Vice President
Investor Relations. email: [email protected] or call Tel: 604-630-9707.
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Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release may involve forward-looking information under applicable
securities laws. Forward- looking information are statements and information that relate to future, not
past, events. In this context, forward- looking information often addresses expected future business and
financial performance, and often contains words such as “anticipate”, “believe”, “plan”, “estimate”,
“expect”, and “intend”; information and statements that an action or event “may”, “might”, “could”,
“should”, or “will” be taken or occur, or other similar expressions. All information other than information
of historical fact included herein are forward-looking information, including, without limitation, information
regarding the Company’s business plans and strategies of operations , the Silvergruvan Property and
potential for exploration; the Option and TSXV approval of the Option Agreement. By its nature, forward-
looking information involves 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
information. 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 information is based on
management’s beliefs, estimates and opinions on the date that such information is provided and the
Company undertakes no obligation to update forward-looking information 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 information.