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Brixton Metals enters deal with Agnico Eagle to expand Langis silver project

Brixton Metals Corp. said Sept. 30 that it has struck a deal with Agnico Eagle Mines to acquire its landholding of additional property adjoining the former’s Langis silver project in Ontario.

The company will pay Agnico Eagle C$200,000 and assume about C$56,000 worth of environmental and mine closure liabilities upon completion of the deal. Agnico Eagle will retain a 2% net smelter royalty on any future production from the property, subject to Brixton's right to purchase from Agnico Eagle one-half of such royalty for C$500,000.

The deal is subject to customary closing conditions and discharge of encumbrances.