Portfolio Company Drills Exceptionally High-Grade Silver Intercept

We are pleased to share that on Tuesday, July 21, Brixton Metals Corporation (TSX-V: BBB) announced one of the best silver intercepts the junior mining space has seen this year.

Hole LM-26-377 returned 20.00 meters at 5,015 g/t silver, including 14.00 meters at 7,150 g/t silver — what the company describes as the discovery of ultra-high-grade silver in a new brownfields area at its Langis Silver Project in Ontario.

This is not the first record silver intercept from our portfolio this year. Two months ago, GR Silver Mining Ltd. (TSX-V: GRSL) delivered what @MinerDeck ranked as the third-best silver intercept globally over the past five years. By the same metrics, Brixton’s hole would rank second over that period — in a field that includes top intercepts from billion-dollar-plus market cap companies.

The market has taken notice, with the stock up 17% since the announcement. In our view, the larger catalyst still lies ahead: follow-up drilling that demonstrates the size potential and vein orientation of this new discovery.

More than half of the company’s minimum 60,000-meter drill program at Langis is still to come, and drilling and sampling is advancing toward a maiden Mineral Resource Estimate on the historic Langis tailings. Brixton reports approximately $18 million in cash and receivables, leaving it on solid financial footing.

Palisades holds 3,571,429 warrants in Brixton, exercisable at $1.00 until December 18, 2028, representing a 4.6% partially diluted ownership stake.

Brixton’s hole is a reminder of why we cast a wide net: by financing dozens of capable teams and quality projects, Palisades gives its shareholders exposure to discoveries that haven’t happened yet.

We will continue to keep you informed as key developments emerge from our portfolio companies.

Sincerely,

The Palisades Team