VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2011) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES
Brixton Metals Corporation (TSX VENTURE:BBB) (the "Company" or "Brixton") is issuing the following news release to clarify its technical disclosure regarding the Cristo property ("Cristo") and disclosure in its annual information form dated February 10, 2011 for the financial year ended September 30, 2010 (the "AIF") as a result of a review by the British Columbia Securities Commission. Cristo was the subject of a technical report prepared in December 2010 that was not in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") in certain sections and disclosed a third-party mineral resource estimate for an adjacent property contrary to NI 43-101. This non-compliant disclosure regarding the Cristo property was subsequently replicated in the AIF of the Company. The AIF was also not in compliance with Part 2 of National Instrument 58-101 – Disclosure of Corporate Governance Practices.
When referencing information on Kiska Metals' Whistler Deposit in its Cristo technical report and AIF, Brixton had quoted a total contained metal figure of 5.8 million ounces of gold equivalent, which combined both inferred and indicated estimates which was contrary to NI 43-101. The Company formally retracts all non-compliant disclosure and has re-filed its Cristo technical report and AIF on SEDAR.
About Brixton Metals
Brixton is a Vancouver based mineral exploration company engaged in the acquisition and exploration of precious metals assets. Brixton's management is focused on advancing large-scale deposits to feasibility. Brixton's portfolio is comprised of two properties: Thorn (BC), and Kahilt (Alaska). The Kahilt District is the name Brixton has given to its lands within the Kahiltna Terrane, a 650 km long section of Alaska that was infused with copper and gold mineralization. The Kahiltna Terrane hosts the giant Pebble gold-copper deposit of Anglo-American and Northern Dynasty, the Whistler gold-copper deposit being developed by Kiska Metals, and Millrock Resources' Estelle gold property being explored in joint venture with Teck American Incorporated. Brixton Metals trades on the TSX Venture Exchange under ticker symbol BBB. 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Peter Oates
Investor Relations Manager
604 630 9707
www.brixtonmetals.com