Brixton Metals Corporation announced initial results from the 2023 Exploration Program on the Hog Heaven Project, which is currently being operated by Ivanhoe Electric Inc. Under a definitive earn-in JV Agreement, Ivanhoe Electric Inc. holds the option to acquire up to 75% interest in the project by incurring USD 40 million of project expenditures and paying Brixton USD 4.5 million. Hog Heaven is a high-sulphidation, epithermal copper-silver-gold project with large scale porphyry copper potential and with historical production located in the state of Montana, USA. Highlights from Ivanhoe Electric's Program: Hole HHD-005 returned 311 meters of 1.07 g/t AuEq containing 22.89 g/t silver, 0.35 g/t gold, 0.06% copper, 0.55% zinc and 0.36% lead, including the bottom 8m yielding 1.32% copper, 0.34 g/t gold, and 23.38 g/t silver from 901m depth.

New evidence suggesting a deep porphyry copper source to the high-sulphidation epithermal mineralization. Ivanhoe commences its TyphoonTM geophysical survey on the Hog Heaven Project. 2023 Hog Heaven Project Update.

Ivanhoe Electric commenced drilling on the Hog Heaven Project in June 2023 as part of its JV Agreement with Brixton Metals. To date, the program has consisted of six holes totaling 6,129 meters and drilling is projected to continue with two drill rigs on site, subject to potential winter conditions. Initial drill results from the 2023 program include 311 meters of 1.07g/t gold equivalent from 162 to 473 meters, containing 22.89 g/T silver, 0.35 g-t gold, 0.06%.

The focus of the 2023 drill program was to test for potential extensions of known silver, gold and copper-rich high-sulphidation Epithermal mineralization as well as search for a potential copper porphyry source to the epithermal system. Preliminary results from the 2023 drill campaign have shown that epithermal mineralization extends significantly beyond the depths of previous and historical mining activities. Additionally, new evidence from drill core includes porphyry-style, early-quartz veins and breccia bearing fragments of quartz-stockwork porphyry clasts, suggesting a potential connection to a deep copper porphyry system.

In late September 2023, Ivanhoe commenced an induced-polarization and electromagnetic ground geophysical survey using its proprietary Typhoon?? electrical geophysical surveying transmitter system. The goal of the survey is to assist with identifying additional areas of precious and base-metal bearing, semi-massive and massive sulphide epithermal mineralization at depth.