Brixton Metals Corp.

Brixton Metals Corp. is a junior copper exploration company headquartered in Vancouver, Canada, operating primarily in Canada. The company's portfolio consists of 4 advanced exploration projects. Key assets include Thorn. The business model is centered on advancing a portfolio of mineral properties through systematic, high-impact exploration funded primarily by equity financing. The company operates as an exploration-stage entity, focusing on de-risking assets to a point where they can support a development decision. A core operational characteristic is the strategic use of partnerships to advance non-core assets, thereby conserving capital and mitigating single-project risk. This approach involves entering into earn-in and option agreements with other companies, which fund exploration activities in exchange for an interest in the property. This allows the organization to maintain exposure to potential discoveries across its portfolio while concentrating its own financial and technical resources on its primary exploration targets. The enterprise is wholly dependent on its ability to raise capital through the sale of its common shares to finance its business operations and exploration programs. The speculative nature of resource exploration means the company's activities involve a high degree of risk, with no guarantee of discovering commercially mineable deposits.

The corporate strategy focuses on creating shareholder value through systematic exploration and strategic monetization of mineral assets. A primary objective is to advance key properties towards a development decision by conducting targeted, high-value drilling programs funded by dedicated exploration budgets. Capital allocation is managed through a dual approach: direct funding of core asset exploration and leveraging partner capital for non-core properties. This is executed via earn-in, option, and joint venture agreements, which allow the company to advance multiple projects simultaneously while minimizing its own capital expenditure and dilution risk. The organization actively seeks partners to fund and operate exploration on certain assets, retaining exposure to discovery upside through equity or royalty interests. This portfolio management approach includes terminating agreements that do not meet performance obligations and acquiring prospective ground to consolidate key areas. The long-term goal is to make a significant discovery that can be developed or sold, with the business model relying on continuous access to equity markets to fund these strategic initiatives.

Executive leadership is provided by a President & CEO who is a Professional Geoscientist and serves as the company's Qualified Person, ensuring technical oversight at the highest level. The board of directors' audit committee provides governance oversight by meeting with management on a quarterly basis to review financial statements, MD&A, and discuss financial, operating, and internal control matters. The board is committed to following recommended corporate governance guidelines for public companies to maintain transparency and accountability to shareholders. Compensation for key executives, including the CEO and CFO, is structured through consulting agreements with their respective private companies rather than direct employment salaries. This structure is disclosed in related party transactions. The management team is responsible for the preparation and integrity of financial statements and the maintenance of appropriate internal controls and information systems.

The company demonstrates a commitment to environmental stewardship through specific, measurable initiatives aimed at reducing its operational footprint. A key environmental program involves the use of fuel bladder systems, which in 2024 resulted in 86 fewer flights, a reduction of 17,075 km in air travel, and the elimination of 1,986 fuel drums, significantly lowering carbon emissions and spill risks. Social responsibility is addressed through a focus on workforce diversity and Indigenous relations. In 2024, 22% of the seasonal workforce was comprised of First Nations employees, contractors, and management, while female-identifying personnel accounted for 24% of the workforce. Furthermore, 28.57% of corporate contracts were with First Nation joint ventures or direct partnerships, and 45% of all personnel worked for such entities. Governance in this area is guided by an internal Environmental, Social, and Governance review initiated in 2022 to identify risks, analyze gaps, and develop a formal ESG strategy aligned with early-stage exploration activities.

The corporate structure is actively managed through strategic partnerships and agreements to advance its asset portfolio. A significant arrangement is a definitive earn-in agreement with Ivanhoe Electric Inc., which can earn up to a 75% interest in a project by funding US$40 million in exploration and making US$4.5 million in cash payments. Another key partnership is a definitive option agreement with Eldorado, granting it the option to acquire 100% ownership of a project by making aggregate cash payments of $1,100,000 and incurring $5 million in exploration expenditures over 5 years, with the company retaining a net smelter return royalty. The company also engages in transactions to optimize its holdings, such as the 2024 Royalty Purchase Agreement with Kohima Pacific Gold Corporation to cancel outstanding royalties through an issuance of 2,500,000 common shares. Portfolio management is also demonstrated by the termination of a previous option agreement with Pacific Bay in 2023 due to non-fulfillment of obligations.