Brixton Metals' Strategic Raise Fuels Ambitious BC Exploration Push

VANCOUVER, BC – December 11, 2025 – In a market that has only recently begun to thaw for junior explorers, Brixton Metals Corporation (TSX-V: BBB) has successfully demonstrated its ability to attract significant capital. The company announced today the closing of the second tranche of a private placement, adding nearly $4 million to its treasury. This brings the total gross proceeds raised in the past two weeks to approximately $9.7 million, a substantial injection of funds earmarked for high-stakes exploration at its flagship Canadian projects.

While the transaction itself is standard fare for the venture markets, the story behind the capital lies in the strategic deployment of these funds and what it signals about investor confidence in a challenging sector. For a company like Brixton, this financing is not just about keeping the lights on; it's the lifeblood that will power the drills aimed at unlocking the potential of major copper and gold discoveries in British Columbia.

The Anatomy of a Junior Mining Raise

Understanding Brixton's financing requires a look beneath the surface of the headline number. The company structured its offering, initially targeting up to $18 million, using a sophisticated mix of financial instruments common in Canadian resource finance but often opaque to the general investor. The raise consisted of Non-Flow-Through (NFT) Units at $0.07 and two types of tax-incentivized units: National Flow-Through (FT) Units and Critical Mineral Flow-Through (CMFT) Units, priced at $0.08 and $0.085 respectively.

This multi-pronged approach is a strategic masterstroke in the junior mining world. The flow-through mechanism allows the company to transfer Canadian exploration expenses to investors, who can then deduct them from their own income. This tax incentive makes the offering significantly more attractive, allowing Brixton to raise capital at a premium to its recent market price, which has hovered around $0.05. In essence, it subsidizes high-risk, high-reward exploration drilling.

The proceeds from these FT and CMFT units are strictly firewalled for “Canadian exploration expenses,” ensuring that every tax-advantaged dollar goes directly into the ground. Meanwhile, the capital raised from the NFT units provides the company with crucial flexibility, funding general corporate and administrative costs necessary to support the exploration campaigns.

Adding another layer of value, each unit—whether FT or NFT—also included a warrant. These warrants give holders the right to purchase an additional share at $0.10 for the next three years. For investors, this is a powerful sweetener, offering leveraged upside if Brixton’s exploration efforts prove successful and drive the share price higher. For the company, it represents a potential future source of non-dilutive funding if the warrants are exercised, providing a runway for continued growth without further share issuance.

Fueling the Drill Bit at the Thorn Project

The primary beneficiary of this capital infusion will be Brixton's flagship Thorn Project, a vast 2,945-square-kilometer land package in the prolific “Golden Triangle” of northwestern British Columbia. The funds will directly support an ambitious 8,000 to 10,000-meter drilling program designed to test and expand several highly promising targets.

Chief among these is the Catalyst target, a new copper-gold porphyry discovery announced in October 2025. Porphyry deposits are the world's largest source of copper and a major source of gold; they are often described as “company-makers” due to their large scale and long mine life potential. The initial discovery at Catalyst, along with the nearby Tempest target, has generated significant excitement, and this new funding allows Brixton to aggressively follow up with systematic drilling to define its size and grade.

The capital will also be deployed at the Trapper Gold Target, another high-priority zone within the Thorn project. Trapper has already delivered high-grade gold intercepts, including a notable result of 44.43 grams per tonne (g/t) gold over 2 meters from the 2024 season. The goal now is to expand this near-surface, high-grade mineralization, potentially outlining a resource that could add significant value. A portion of the flow-through proceeds is also slated for the Langis Silver-Cobalt Project in Ontario, but the clear focus remains on unlocking the district-scale potential at Thorn.

This direct link between capital raised and tangible exploration work is precisely what sophisticated resource investors look for. The funding isn't for abstract corporate purposes; it's to turn drill bits on specific, well-defined targets that have already shown geological promise.

Navigating a Thawing but Selective Market

Brixton’s ability to raise nearly $10 million is particularly noteworthy given the recent climate. The junior mining sector endured a severe “capital drought” in 2024, with funds raised hitting a five-year low. While 2025 has seen a robust rebound, particularly for gold-focused companies, investors have become far more discerning. Capital is flowing not to all juniors, but to those with compelling projects, a clear path forward, and strong technical and management teams.

In this environment, Brixton's success is a vote of confidence. The company's story is bolstered by the presence of BHP, the world's largest mining company, as a 17% strategic shareholder. This backing provides not only capital but also a significant technical validation of the Thorn Project's potential. The recent private placement also reportedly attracted a “new strategic investor,” further signaling that smart money sees value in Brixton's assets and strategy.

By successfully securing this financing, Brixton has differentiated itself from a pack of underfunded peers who may struggle to advance their projects. The company has secured the financial runway to execute its 2026 exploration plans, a critical step in de-risking its assets and moving them up the value chain from discovery to potential resource definition. The challenge ahead, common to all explorers, is to translate that capital into discovery success, as the market will ultimately judge the company on the results delivered by the drill bit. This financing ensures they have a decisive opportunity to deliver.