# Brixton Metals H1 FY2026 Financial Statements

Source Brief: https://evesgoldminers.com/research/source-briefs/brixton-metals-corporation-2026-05-29-brixton-metals-h1-fy2026-financial-statemen-003d1029
Original source: https://brixtonmetals.com/wp-content/uploads/2026/05/2026-03-31-BBB-Q2-FS-FINAL.pdf
Original published: 2026-05-29
EGM generated: 2026-09-04
Company: Brixton Metals Corporation (BBB)

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## Extracted Document Text

# Brixton Metals H1 FY2026 Financial Statements

Source: https://brixtonmetals.com/wp-content/uploads/2026/05/2026-03-31-BBB-Q2-FS-FINAL.pdf
Published: 2026-05-29T00:00:00+00:00
Fetched: 2026-08-02T20:00:35.094+00:00
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## Content

# Brixton Metals H1 FY2026 Financial Statements
Source: https://brixtonmetals.com/wp-content/uploads/2026/05/2026-03-31-BBB-Q2-FS-FINAL.pdf
Published: 2026-05-29
Condensed Consolidated Interim Financial Statements
(Expressed in Canadian dollars)
BRIXTON METALS CORPORATION
(An Exploration Stage Company)
Six months ended March 31, 2026 and 2025
Unaudited – prepared by management
NOTICE OF NO AUDITOR REVIEW OF
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
In accordance with National Instrument 51-102 Part 4, subsection 4.3(3)(a), if an auditor has not performed
a review of these condensed consolidated interim financial statements, they must be accompanied by a
notice indicating that these condensed consolidated interim financial statements have not been reviewed
by the Company’s auditors.
The accompanying unaudited condensed consolidated interim financial statements of the Company have
been prepared by and are the responsibility of the Company’s management.
2
BRIXTON METALS CORPORATION
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Financial Position
(Unaudited – expressed in Canadian dollars)
March 31, September 30,
2026 2025
Assets
Current assets:
Cash $ 4,659,076 $ 3,848,109
Short-term investment 10,061,781 712,698
Receivables (Note 5) 354,876 541,254
Prepaid expenses (Note 6) 657,351 261,420
15,733,084 5,363,481
Restricted cash (Note 7) 531,122 531,024
Equipment (Note 8) 192,463 230,115
Exploration and evaluation assets (Note 9) 6,524,421 6,773,415
Total Assets $ 22,981,090 $ 12,898,035
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable and accrued liabilities $ 408,085 $ 1,267,471
Due to related parties (Note 11) 18,086 94,610
Lease liability (Note 12) 42,364 35,796
Advance on exploration and evaluation expenditures (Note 9) 1,760,702 -
Flow-through share premium liability (Note 10) 626,212 163,183
2,855,449 1,561,060
Lease liability - non-current (Note 12) 81,004 106,693
Reclamation obligation (Note 9) 276,871 276,871
Total Liabilities 3,213,324 1,944,624
Shareholders' equity:
Share capital (Note 13(b)) 112,777,353 101,814,515
Reserves (Note 13(d)) 12,666,634 12,462,942
Deficit (105,676,221) (103,324,046)
19,767,766 10,953,411
Total Liabilities and Shareholders' Equity $ 22,981,090 $ 12,898,035
Nature of operations (Note 1)
Subsequent Events (Note 17)
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
Approved on behalf of the Board:
“Cale Moodie” Director
“Gary Thompson” Director
3
BRIXTON METALS CORPORATION
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss
(Unaudited – expressed in Canadian dollars)
Three months ended March 31, Six months ended March 31,
2026 2025 2026 2025
Expenses:
Amortization (Note 8) $ 18,825 $ 20,890 $ 37,652 $ 41,780
Conference and exhibition 7,677 10,497 9,807 58,633
Directors' fees (Note 11) 24,000 18,000 42,000 36,000
Exploration and evaluation
expenditures (Note 9) 1,778,245 421,419 2,558,082 1,861,206
Insurance 19,472 31,906 38,944 63,812
Interest and bank charges 995 3,218 2,268 5,553
Investor relations 239,711 83,910 358,489 212,682
Listing and filing fees 50,619 19,286 62,782 33,638
Management fees (Note 11) 431,042 81,218 556,354 219,393
Office and sundry 27,267 84,279 (2,819) 154,345
Professional services (Note 11) 131,750 63,582 194,728 139,300
Rent 10,007 11,159 17,220 15,850
Salaries and employee benefits (Note 11) 64,523 144,702 113,100 311,128
Share-based payments (Notes 11 and 13(d)) 28,274 15,054 78,439 15,054
Travel and meals 44,734 30,754 56,932 74,409
(2,877,141) (1,039,874) (4,123,978) (3,242,783)
Gain on excess carrying value of
exploration and evaluation assets (Note 9) 1,366,989 710,350 1,366,989 710,350
Foreign exchange 71,392 7,327 24,226 159,816
Interest income 94,318 208,682 127,720 273,846
Lease accretion (Note 12) (3,139) (734) (6,516) (1,765)
Project operator fees (Note 9) (3,588) 5,254 2,574 14,623
Reduction of flow-through
premium liability (Note 10) 220,754 105,165 406,526 630,732
1,746,726 1,036,044 1,921,519 1,787,602
Loss for the period before taxes (1,130,415) (3,830) (2,202,459) (1,455,181)
Income tax expense (Note 15) (176,240) (138,702) (176,240) (138,702)
Loss and comprehensive loss
for the period $ (1,306,655) $ (142,532) $ (2,378,699) $ (1,593,883)
Loss per share - basic and diluted $ (0.02) $ (0.00) $ (0.04) $ (0.03)
Weighted average number of
shares outstanding - basic and diluted 71,323,547 53,319,159 65,126,237 49,488,951
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
4
BRIXTON METALS CORPORATION
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Changes in Shareholders’ Equity
(Unaudited – expressed in Canadian dollars, except share amounts)
Share-based
Number payments
of shares Share capital reserve Deficit Total equity
September 30, 2024 46,670,495 $ 96,263,176 $ 12,324,322 $ (95,254,480) $ 13,333,018
-
Flow through shares issued for cash 6,648,664 5,983,797 - - 5,983,797
Flow through premium liability - (1,655,517) - - (1,655,517)
Share-based payments - - 15,054 - 15,054
Share issuance costs - (411,535) 35,750 - (375,785)
Loss for the period - - - (1,593,883) (1,593,883)
March 31, 2025 53,319,159 100,179,921 12,375,126 (96,848,363) 15,706,684
Flow-through shares issued for cash 1,823,471 2,370,512 - - 2,370,512
Flow-through premium liability - (638,215) - - (638,215)
Share-based payments - - 70,864 - 70,864
Share issuance costs - (97,703) 16,952 - (80,751)
Loss for the period - - - (6,475,683) (6,475,683)
September 30, 2025 55,142,630 101,814,515 12,462,942 (103,324,046) 10,953,411
Common shares issued for cash 9,373,467 6,561,425 - - 6,561,425
Flow-through shares issued for cash 6,807,450 5,634,769 - - 5,634,769
Flow-through premium liability - (869,555) - - (869,555)
Share-based payments - - 78,439 - 78,439
Finders' warrants expired - - (26,524) 26,524 -
Share issuance costs - (363,801) 151,777 - (212,024)
Loss for the period - - - (2,378,699) (2,378,699)
March 31, 2026 71,323,547 $ 112,777,353 $ 12,666,634 $ (105,676,221) $ 19,767,766
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
5
BRIXTON METALS CORPORATION
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Cash Flows
(Unaudited – expressed in Canadian dollars)
Six months ended March 31,
2026 2025
Cash flows used in operating activities:
Loss for the period $ (2,378,699) $ (1,593,883)
Items not affecting cash:
Amortization 37,652 41,780
Gain on excess carrying value of mineral property (1,366,989) (710,350)
Interest income receivable (61,781) -
Reduction of flow-through premium liability (406,526) (630,732)
Lease accretion 6,516 1,765
Share-based payments 78,439 15,054
Unrealized foreign exchange gain (3,816) (4,735)
Changes in non-cash working capital:
Receivables 186,378 1,314,202
Prepaid expenses (395,931) (106,969)
Accounts payable and accrued liabilities (859,386) (1,600,749)
Due to related parties (76,524) (98,238)
Advance on exploration and evaluation expenditures 1,760,702 (163,874)
(3,479,965) (3,536,729)
Cash flows from investing activities:
Mineral property acquisition costs (1,006) (4,872)
Option payments received 1,616,989 710,350
Purchase of short-term investment (10,000,000) -
Maturity of short-term investment 716,416 -
Reclamation bonds posted as restricted cash - (24,000)
(7,667,601) 681,478
Cash flows from financing activities:
Shares issued for cash 12,196,194 5,983,797
Payments towards lease liabilities (25,637) (25,637)
Share issuance costs (212,024) (375,785)
11,958,533 5,582,375
Change in cash 810,967 2,727,124
Cash, beginning of the period 3,848,109 7,204,869
Cash, end of the period $ 4,659,076 $ 9,931,993
Supplemental non-cash financing information:
Cash paid for taxes $ 265,503 $ 448,874
Finders warrants issued $ 151,777 $ 35,750
Finders warrants expired $ (26,524) $ -
Flow-through premium liability on issuance of flow-through shares $ 869,555 $ 1,655,517
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
6
BRIXTON METALS CORPORATION
(An Exploration Stage Company)
Notes to Condensed Consolidated Interim Financial Statements
Six months ended March 31, 2026 and 2025
(Unaudited – expressed in Canadian dollars)
1. Nature of operations:
Brixton Metals Corporation (“Brixton” or the “Company”) was incorporated under the Business
Corporations Act of British Columbia on September 28, 2009. The Company is an exploration stage
company and engages principally in the acquisition, exploration, and evaluation of mineral properties.
The Company’s head office address is Suite 551 – 409 Granville Street, Vancouver, BC, V6C 1T2,
Canada. The Company is listed on the TSX Venture Exchange (“TSX-V”) and trades under the symbol
BBB.
On February 20, 2026, the Company consolidated its outstanding share capital on a ten-for-one basis.
The share consolidation has been applied retrospectively and as a result all shares, options, warrants,
and per share amounts are stated on an adjusted basis.
These condensed consolidated interim financial statements have been prepared on a going concern
basis which assumes that the Company will be able to realize its assets and settle its obligations in the
normal course of business.
The ability of the Company to carry out its planned business objectives is dependent on its ability to
raise adequate financing from lenders, shareholders, and other investors and/or achieve operating
profitability and generate positive cash flows. During the six months ended March 31, 2026, the
Company completed financings for gross proceeds of $12,196,194 (Note 13). There can be no
assurances that the Company will continue to obtain the additional financial resources necessary
and/or achieve profitability or positive cash flows. If the Company is unable to obtain adequate
financing, the Company will be required to curtail operations, exploration, and evaluation activities. The
Company estimates it has sufficient funds to operate for the ensuing 12 months.
Ongoing geopolitical conflicts in Ukraine, the Gaza Strip, and Iran have created supply chain issues,
market instability and volatility, and increased inflation. The Company cannot predict the duration or
magnitude of the adverse results of this conflict and its effects on the Company’s business or ability to
raise funds.
These condensed consolidated interim financial statements do not reflect adjustments, which could be
material to the carrying values of assets and liabilities, which may be required should the Company be
unable to continue as a going concern.
2. Material accounting policies:
(a) Statement of compliance:
These condensed consolidated interim financial statements, including comparatives, have been
prepared in accordance with International Accounting Standards (“IAS”) 34, “Interim Financial
Reporting” using accounting policies consistent with IFRS Accounting Standards (“IFRS”), as
issued by the International Accounting Standards Board. These condensed consolidated interim
financial statements do not include all of the disclosures required for annual financial statements
and therefore should be read in conjunction with the audited consolidated financial statements for
the year ended September 30, 2025.
Unless otherwise stated, amounts are expressed in Canadian dollars.
7
BRIXTON METALS CORPORATION
(An Exploration Stage Company)
Notes to Condensed Consolidated Interim Financial Statements
Six months ended March 31, 2026 and 2025
(Unaudited – expressed in Canadian dollars)
2. M

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