Brixton Metals signs option acquire Silvergruvan Project, Sweden
Brixton Metals Corp. [TSXV: BBB; OTCQX: BBBXF] reported that it has entered into an option agreement with McKnight Resources AB, an arm’s length party, under which McKnight granted to Brixton the sole, exclusive and irrevocable right and 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. 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, Sala, and Zinkgruvan in the region.
Gary R. Thompson, Chairman and CEO, 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 underground 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 metres depth and remains open.”
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.
Tumi Resources 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.
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.
Sixteen waste dump rock grab samples from the Silvergruvan Project were collected by McKnight and of these; nine samples were greater than 200 g/t silver including six were greater than 500 g/t silver with a high of 800 g/t silver; five samples returned greater than 1 g/t gold with a high of 1.8 g/t gold; eight samples returned greater than 5% lead with a high of 18.4% lead; eight samples returned greater than 5% zinc with a high of 20.90% zinc; five samples returned greater than 1000foursamples returned greater than 100 ppm indium with a high of 188 ppm indium.
The Silvergruvan Property location has year-round heavy vehicle road access, excellent proximity to the national industrial power grid, and an experienced local mining workforce. No mineral resource statement has been calculated at the
Brixton may exercise the option on completion of the following: $1,500,000 worth of shares and $3,300,000 in exploration expenditures.
Upon Brixton exercising the option, it shall grant a 2.0% net smelter returns 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 TSXV as of the date of this news release.
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.
Brixton wholly owns four exploration projects: the 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 Corp.