Brixton Metals provides update on Hog Heaven joint venture

Brixton Metals has received the third payment in the amount of $500,000 for the Hog Heaven Project, which is currently being operated under a definitive earn-in JV Agreement with Ivanhoe Electric. Ivanhoe Electric holds the option to acquire up to 75% interest by completing $44.5M of total project spending. Hog Heaven is an advanced-stage, high-sulphidation, epithermal copper-silver-gold project with porphyry potential and historical production located in the state of Montana, USA. Recent work at Hog Heaven has been focused on evaluating the historic drill hole database. This work has included re-logging 14,500m of drill core and assaying 3,600 drill core pulps for processing using current mineral assay technologies. The historic drill core has been selectively analyzed with a handheld Terraspec Halo, a mineral analysis system that allows for the identification and evaluation of alteration minerals and alteration mineral zoning. Additionally, expanded soil, gravity and 3D IP surveys were completed on the property. The Company understands that Ivanhoe Electric Inc. will continue to compile and create a comprehensive geological model for the property. Geochemical and geophysical anomalies have been identified, and based on these results, drill target identification is currently underway. An exploration drill program is expected to begin this summer to identify potential porphyry copper-gold mineralization. Future work shall be based on the success of the next program.