ALBRIGHT METALS LTD — Capital/Financing Update 2018

Nov 21, 2018

ASX Announcement

22 November 2018

High-Grade Gold at Windalah Prospect

HIGHLIGHTS

• Further drilling results received from new gold discovery at Windalah Prospect.

• High-grade gold mineralisation recorded in 2 drill holes:

• ➢ BBRC019- 5 metres (79-84m) @ 6.62 g/t Au, including 1m (82-83m) @ 15.05 g/t Au;

• ➢ BBRC020- 2 metres (78-80m) @ 3.39 g/t Au

  • 4 metres (134-138m) @ 2.72 g/t Au, and

  • 3 metres (145-148m) @ 6.69 g/t Au including 1m (146-147m) @ 10.52 g/t Au.

• High-grade gold mineralisation is open along strike and down dip.

• Follow-up activities to be completed before next round of drilling at Windalah Prospect:

• ➢ Geological interpretation and 3D modelling and

• ➢ Heritage clearance and DMIRS approval.

Bryah Resources Limited (“Bryah” or “the Company”) is pleased to provide an update to its recent announcement ( see ASX announcement dated 17 October 2018 ) of a discovery of gold mineralisation in drilling at the Windalah Prospect, which lies within the Company’s Bryah Basin Project in central Western Australia (see Figure 1).

– RC Drilling Programme Windalah Prospect

At the Windalah Prospect five Reverse Circulation (RC) holes for 986 metres were drilled at an area where historical exploration by Afmeco Pty Ltd, including shallow Rotary Air Blast (RAB) drilling, had recorded intervals of gold mineralisation in several holes. This area was considered by Afmeco Pty Ltd to have geological similarities to the nearby Horseshoe Lights copper-gold mine[1] located 13 kilometres to the north.

1 Peak Hill South E52/260, Annual Report 16 March 1988 – 16 March 1989, J.C. Rippert, Afmeco Pty Ltd, March 1989 (WAMEX Report No A26830)

Address ASX Code: BYH Projects Level 1, 85 Havelock Street ABN: 59 616 795 245 Bryah Basin – Copper, Gold, West Perth WA 6005 Shares on issue: 56,350,120 Manganese Tel: +61 8 9321 0001 Latest Share Price: $0.098 Gabanintha – Gold, Copper Email: info@bryah.com.au Market Capitalisation: $5.52M bryah.com.au

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Laboratory results have been received following the submission of 1 metre samples of zones of gold mineralisation identified in the 3 metre composite sample results. The best gold intervals reported from these new samples are:

• BBRC019: 5 metres (79-84m) @ 6.62 g/t Au , including 1m (82-83m) @ 15.05 g/t Au

• BBRC020: 2 metres (78-80m) @ 3.39 g/t Au 4 metres (134-138m) @ 2.72 g/t Au, and 3 metres (145-148m) @ 6.69 g/t Au , including 1m (146-147m) @ 10.52 g/t Au.

Updated details of mineralisation recorded in RC drill holes at the Windalah Prospect are shown in Table 1 and in Figures 2, 3 and 4.

Commenting on these results, Managing Director Neil Marston said “These latest results include some significant upgrades on the earlier composite assays at the Windalah Prospect. We have intersected intervals exceeding 6 grams per tonne in 2 holes collared 100 metres apart, so the focus now will be to extend this high-grade mineralised horizon, which is open down dip and along strike. These gold grades give us great confidence to undertake further drilling in this area. With our growing geological understanding of the area, the Windalah Prospect has, in our opinion, excellent potential."

RC Drilling Programme – Other Areas

Sixteen holes for 1,361 metres (BBRC029-BBRC044) were drilled above EM conductors identified at Mars 2, Mars 3, Mars 4 and Peak Hill 1 (see Figure 2). These holes were not drilled deep enough to adequately test the EM conductors, which all occur at modelled depths of below 200 metres. However, the holes were designed to provide the Company with some geological information before undertaking any future deeper drilling to test the EM conductors. Generally, no significant results were recorded (see Table 2), nonetheless geological information gained will be used as part of the follow-up assessment of these EM conductors.

Follow-Up Activities

Follow-up drilling at the Windalah Prospect will be the main priority for the Company in its next phase of copper-gold exploration.

Activities underway or under consideration include:

• Geological, geochemical and geophysical interpretation and 3D modelling,

• Heritage surveys and Department of Mines, Industry Regulation and Safety (DMIRS) Programme of Works approvals, and

• Down Hole Electromagnetic (DHEM) survey of cased holes at Windalah and Jupiter.

Address Level 1, 85 Havelock Street Page 2 of 16 West Perth WA 6005

Tel: +61 8 9321 0001 Email: info@bryah.com.au

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Figure 1 – Bryah Basin Tenements and Regional Geology Map.

Address Level 1, 85 Havelock Street Page 3 of 16 West Perth WA 6005

Tel: +61 8 9321 0001 Email: info@bryah.com.au

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Figure 2 –Windalah Prospect Solid Geology and Drill hole Location Plan

Address Level 1, 85 Havelock Street Page 4 of 16 West Perth WA 6005

Tel: +61 8 9321 0001 Email: info@bryah.com.au

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Figure 3 – Drill Section B-B’

Address Level 1, 85 Havelock Street Page 5 of 16 West Perth WA 6005

Tel: +61 8 9321 0001 Email: info@bryah.com.au

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Figure 4 – Drill Section A-A’

For further information, please contact:

Neil Marston

Managing Director

Tel: +61 9321 0001

Address Level 1, 85 Havelock Street Page 6 of 16 West Perth WA 6005

Tel: +61 8 9321 0001 Email: info@bryah.com.au

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About Bryah Resources Limited

In October 2017 Bryah Resources Limited was admitted to the official list on the Australian Securities Exchange (ASX). The Company is a copper-gold-manganese focused explorer with 2 projects located in central Western Australia, being the 720 km[2] Bryah Basin Project and the 202km[2] Gabanintha Project. In addition, the Company holds a one-year option to acquire the historic Horseshoe South Manganese Mine and the Manganese mineral rights over a further 154km[2] of ground in the Bryah Basin.

The Bryah Basin is host to the high-grade copper-gold mines at DeGrussa, discovered by Sandfire Resources NL in 2009, and at Horseshoe Lights, which was mined until 1994. The Bryah Basin also has several historical and current manganese mines.

Bryah Resources Limited’s copper-gold exploration strategy is:

• to apply the best and latest exploration methods to evaluate the ground;

• to use high resolution geophysics to identify deeper structures and potentially mineralised zones;

• to drill test targets below the depth of previous drilling.

At Gabanintha, Bryah holds the rights to all minerals except Vanadium/Uranium/Cobalt/Chromium/ Titanium/Lithium/Tantalum/Manganese & Iron Ore (Excluded Minerals). Australian Vanadium Limited retains 100% rights in the Excluded Minerals on the Gabanintha Project.

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr Rohan Williams, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Williams is an employee of Bryah Resources Limited (“the Company”). Rohan Williams has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Rohan Williams consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This report may contain certain “forward-looking statements” which may not have been based solely on historical facts, but rather may be based on the Company’s current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Readers should not place undue reliance on forward looking information. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of this report, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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Address Level 1, 85 Havelock Street West Perth WA 6005

Tel: +61 8 9321 0001 Email: info@bryah.com.au

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Table 1 – Windalah Prospect

Latest Laboratory Results

Hole ID	Northing mN	Easting mE	RL (m)	Azimuth & Dip (planned)	Total Depth (m)	Depth From (m)	Depth To (m)	Interval Width (m)	Gold g/t	Cu ppm
BBRC017	7180911	665520	556	30o,-60o	204		No Significant Results
BBRC018	7180858	665489	554	30o, -60o	210	27	28	1	2.63	NA
						30	31	1	1.17	NA
						48	49	1	0.87	NA
						53	54	1	1.28	NA
						60	66	6	-	595
						81	84	3	-	599
BBRC019	7180801	665555	556	30o, -60o	212	28	30	2	1.48	NA
						48	49	1	1.18	NA
						71	72	1	0.52	NA
						76	77	1	1.51	NA
						79	84	5	6.62	NA
				including		82	83	1	15.05	NA
BBRC020	7180721	665508	551	30o, -60o	192	18	20	2	0.93	NA
						26	29	3	0.96	NA
						32	33	1	0.66	NA
						43	44	1	0.80	NA
						78	80	2	3.39	NA
						134	138	4	2.72	NA
						140	141	1	0.62	NA
						145	148	3	6.69	NA
				including		146	147	1	10.52	NA
						150	151	1	1.39	NA
						156	157	1	2.49	NA
BBRC024	7181472	665496	547	45o,-60o	72	16	20	4	-	618
						28	32	4	-	884
BBRC025	7181488	665520	548	45o,-60o	72	4	8	4	-	553
BBRC026	7181513	665549	549	45o,-60o	78		No Significant Results
BBRC027	7181542	665580	550	45o,-60o	90	4	8	4	-	534
BBRC028	7181570	6655608	550	45o,-60o	168		No Significant Results
BBRC046	7180806	665459	550	45o, -60o	168	64	68	4	0.64	-
						56	60	4	-	653
						96	100	4	-	1219

Notes:

1. Cut-off grades - >0.5g/t Au and >500ppm Cu.

2. Intervals may include 1 metre intervals <0.5g/t Au.

3. Results from BBRC024, BBRC025, BBRC027 and BBRC046 are based 4 metre composite samples.

4. Copper results from BBRC018 are based 3 metre composite samples.

5. Intervals are not considered true width due to lack of geological information.

6. NA = 1m Cu assay not yet available.

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Address Level 1, 85 Havelock Street West Perth WA 6005

Tel: +61 8 9321 0001 Email: info@bryah.com.au

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Table 2 – Jupiter and Other Prospects

Latest Laboratory Results

Hole ID	Northing mN	Easting mE	RL (m)	Azimuth & Dip (planned)	Total Depth (m)	Depth From (m)	Depth To (m)	Interval Width (m)	Gold g/t	Cu ppm
Jupiter Prospect
BBRC001	7191423	659282	526	30o,-60o	121	53	54	1	0.86	NA
						56	57	1	0.53	NA
BBRC004	7190598	660564	516	30o,-60o	127	9	15	6	-	1098
						36	39	3	-	590
						72	75	3	-	528
BBRC007	7190327	660556	517	45o,-60o	246	227	228	1	-	728
BBRC010	7191940	658755	517	30o,-60o	126	6	9	3	-	554
						21	30	9	-	657
BBRC022	7190390	660626	516	45o,-60o	180	No Significant Results
BBRC023	7190187	660699	519	45o,-60o	216	No Significant Results
BBRC045	7191441	659244	525	30o,-60o	84	No Significant Results
Mars 2 Prospect
BBRC029	7184694	664428	542	180o,-60o	132	116	120	4	-	906
BBRC030	7184758	664416	542	180o,-60o	155	No Significant Results
BBRC031	7185097	663525	535	45o,-60o	108	No Significant Results
						No Significant Results
Mars 3 Prospect
BBRC032	7185143	663578	535	225o,-60o	96	12	16	4	-	612
BBRC033	7185187	663622	535	225o,-60o	144	No Significant Results
BBRC034	7185240	663671	537	225o,-60o	90	No Significant Results
Mars 4 Prospect
BBRC035	7183629	663940	539	45o,-60o	84	No Significant Results
BBRC036	7183670	663976	540	45o,-60o	60	No Significant Results
BBRC037	7183704	664015	538	45o,-60o	42	No Significant Results
BBRC038	7183745	664054	538	45o,-60o	42	No Significant Results
Peak Hill 1	Prospect
BBRC039	7169599	668899	569	0o,-60o	54	No Significant Results
BBRC040	7169644	668899	569	0o,-60o	48	No Significant Results
BBRC041	7169708	668898	568	0o,-60o	48	No Significant Results
BBRC042	7170163	668897	568	180o,-60o	78	No Significant Results
BBRC043	7170221	668899	568	180o,-60o	100	No Significant Results
BBRC044	7170306	668906	567	180o,-60o	80	No Significant Results

Notes:

1. Cut-off grades - >0.5g/t Au and >500ppm Cu.

2. Results from BBRC004 and BBRC010 are based on 3 metre composite samples.

3. Results from BBRC024 and BBRC045 are based on 4 metre composite samples.

4. Intervals are not considered true width due to lack of geological information.

5. NA = 1m Cu assay not yet available.

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Address Level 1, 85 Havelock Street West Perth WA 6005

Tel: +61 8 9321 0001 Email: info@bryah.com.au

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Appendix 1

JORC Code, 2012 Edition – Table 1 Exploration Results

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	• For this drilling programme Bryah Resources Limited (Bryah Resources) utilised angled Reverse Circulation (RC) drill holes. • RC drilling was to generally accepted industry standard producing 1.0m samples which were collected beneath the cyclone and then passed through a cone splitter. • The splitter reject sample was collected into plastic buckets and laid out on the ground in 20-40m rows. • The holes were sampled as initial 3m composites using a PVC spear to produce an approximate representative 3kg sample into pre-numbered calico sample bags. • Anomalous 3m composites were individually assayed as the 1m splits which were collected beneath the RC rig cyclone and passed through the cone splitter. • The full length of each hole drilled was sampled. • All Bryah Resources samples collected were submitted to a contract commercial laboratory for drying, crushing and homogenising the sample to produce a 50g charge for fire assay and a separate sample for 4-acid digest and a minimum of 15 multi-element analysis using an Induced Coupled Plasma Mass Spectrometer
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	• Bryah Resources’ Reverse Circulation (RC) holes were drilled with a contract RC drilling rig. • All RC holes were drilled using a 145mm (5.5in) face- sampling drilling bit.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• The RC samples were not weighed or measured for recovery. • To ensure maximum sample recovery and the representivity of the samples, an experienced Company geologist was present during drilling to monitor the sampling process. Any issues were immediately rectified. • Sample recovery was recorded by the Company geologist and this was based on how much of the sample is returned from the cyclone and cone splitter. This was

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Criteria	JORC Code explanation	Commentary
		recorded as good, fair, poor or no sample. • Bryah Resources is satisfied that the RC holes have taken a sufficiently representative sample of the interval and minimal loss of fines has occurred in the RC drilling resulting in minimal sample bias. • No twin RC drill holes have been completed to assess sample bias. • At this stage no investigations have been made into whether there is a relationship between sample recovery and grade.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• All of the 1m RC samples were sieved and collected into 20m chip trays for geological logging of colour, weathering, lithology, alteration and mineralisation for potential Mineral Resource estimation and mining studies. • RC logging is both qualitative and quantitative in nature. • All chip trays were photographed both wet and dry. • The total length of the RC holes were logged. Where no sample was returned due to cavities/voids it was recorded as such.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• Sampling technique: o All RC samples were collected from the RC rig and were collected beneath the cyclone and then passed through the cone splitter. o The samples were generally dry and all attempts were made to ensure the collected samples were dry. However, on deeper portions of some drillholes the samples were logged as moist and wet. Following the return of up to 12m of wet samples the holes were terminated. o The cyclone and cone splitter were cleaned with compressed air at the end of every 6m RC drill rod. o The sample sizes were appropriate to correctly represent the mineralisation based on the style of mineralisation, the thickness and consistency of intersections, the sampling methodology and percent value assay ranges for the primary elements.

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Criteria	JORC Code explanation	Commentary
		• Quality Control Procedures were: o A duplicated sample was collected every 50 samples. o Certified Reference Material (CRM) samples were inserted in the field every 50 samples containing a range of gold and base metal values. o Blank washed sand material was inserted in the field every 50 samples. o Overall QAQC insertion rate of 1:16.6 samples o Laboratory repeats taken and standards inserted at pre-determined level specified by the laboratory. o Sample preparation in the Intertek (Maddington, Western Australia) laboratory: The samples are weighed dried for a minimum of 12 hours at 1000C, then crushed to -2mm using a jaw crusher, and pulverised by LM5 or disc pulveriser to -75 microns for a 50g Lead collection fire assay to create a homogeneous sub-sample. The pulp samples were also analysed with 4 acid digest induced Coupled Plasma Mass Spectrometer for a minimum of 15 multi-elements o The sample sizes are considered appropriate to correctly represent the mineralisation based on the style of mineralisation, the thickness and consistency of intersections, the sampling methodology and the assay value ranges expected for both gold and copper.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	• Duplicates and samples containing standards will be included in the analyses.

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Criteria	JORC Code explanation	Commentary
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Significant intersections have been independently verified by alternative company personnel. • The use of twinned holes has not been implemented and is not considered necessary at this stage of exploration. • The Competent Person has visited the site and supervised all the drilling and sampling process in the field. • All primary data related to logging and sampling are captured on paper logs and entered into Excel templates. • All paper copies of data have been stored. • All data is sent to Perth and stored in the centralised Access database with a Data Shed front end which is managed by company geologists. • No adjustments or calibrations have been made to any assay data, apart from resetting below detection values to half positive detection.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• All collars were initially located by a Geologist using a conventional hand-held GPS. • Following completion of the drilling the hole collars were independently surveyed by surveyors using a differential GPS for accurate collar location and RL with the digital data entered directly into the company Access database. • Downhole surveys are being completed on all the RC drill holes by the drillers. They used a Reflex EZ-Shot downhole multi-shot tool to collect the surveys every 30m down the hole. • The grid system for the Bryah Basin prospect is MGA_GDA94 Zone 50. • Topographic data is collected by a hand-held GPS.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• As this programme was a reconnaissance programme there was considerable variation in the drill spacing and drillhole orientation. • The drill spacing is generally not sufficient to establish the degree of geological and grade continuity applied under the 2012 JORC code. • Sample compositing was been applied to this drilling programme with 1m samples collected composited to 3m/4m composites or less if specified.

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Criteria	JORC Code explanation	Commentary
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• The attitude of the lithological units is predominantly south-westerly dipping to sub-vertical. Therefore, most holes were drilled with an azimuth of 30 or 45 degrees to intersect the structures at right angles to the orientation of the lithological units. Some holes will be drilled in other orientations to intersect specific mineralised structures, but always with an attempt to drill orthogonal to the strike of the interpreted structure. Due to locally varying intersection angles between drillholes and lithological units all results are defined as downhole widths. • No drilling orientation and sampling bias has been recognized at this time and it is not considered to have introduced a sampling bias.
Sample security	• The measures taken to ensure sample security.	• The samples collected were placed in calico bags and transported to the relevant Perth laboratory by courier or company contractor. • Sample security was not considered a significant risk.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• The Company database has been compiled from primary data by independent database consultants and was based on original assay data and historical database compilations. • A regular review of the data and sampling techniques is carried out internally.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	• The relevant tenements (P52/1527, E52/3236, E52/3238, E52/3401 and E52/3454) are 100% owned by Bryah Resources Limited. • At the time of reporting, there are no known impediments to obtaining a licence to operate in the area and the tenements are in good standing.

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Criteria	JORC Code explanation	Commentary
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Previous exploration at the Windalah Prospect has been undertaken by Homestake Australia Limited (1984-1986) and Afmeco Pty Ltd (1988-1990) and involved aeromagnetic surveys, geological mapping, soil and rock chip sampling and RAB drilling. • Previous exploration in the Jupiter Prospect has been undertaken by Barrack Exploration Pty Ltd during the period 1986-1990 where programmes of aeromagnetic surveying, geological mapping, soil sampling, vacuum and RAB drilling were completed. • Sabminco NL undertook exploration programmes of ground EM, shallow RAB and RC drilling in the area to the east of Jupiter in 1993-1995. • Previous exploration at the Mars Prospects has been undertaken by Barrack Exploration Pty Ltd, Afmeco Pty Ltd and Plutonic Resources Limited during 1987-1992 where programmes of aeromagnetic surveying, geological mapping, soil sampling, RAB and RC drilling were completed. • Explorers in all cases identified the prospectivity of the ground however exploration results were not generally followed up due to various issues. • There are no records of significant exploration activity in the vicinity of the Peak Hill 1 EM anomaly.
Geology	• Deposit type, geological setting and style of mineralisation.	• The Windalah, Mars and Jupiter Prospects consists of a sequence of folded sub-cropping Narracoota Formation within a series of North-West trending, anticlinal domes. The Narracoota Formation volcanics occupy the central axis position of the interpreted dome structures. An overlying ridge forming chert is strata-parallel and its distribution is consistent with the dome structures and generally dips away from the central fold axis. Overlying the chert sequence and the underlying Narracoota Formation are sediments of the Ravelstone Formation. • The primary exploration target at Windalah, Mars and Jupiter is VMS mineralisation similar to the nearby Horseshoe Lights Copper-Gold Mine where mineralisation occurs in the core of a NNW trending and SE plunging parasitic anticline, that is overturned. The sulphide envelope of the deposit itself is SW dipping and plunging to the SSE (150o) and was likely folded. It sits within altered basalt and mafic volcaniclastic units along the contactwithoverlyingfelsicvolcanic schist.

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Criteria	JORC Code explanation	Commentary
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• Refer to Tables 1 and 2 of this ASX Announcement.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• No high-grade cuts have been applied to the reporting of exploration results. • No metal equivalent values have been used.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	• As this programme was a reconnaissance programme there was considerable variation in the drill spacing and hole orientation. • Due to locally varying intersection angles between drill holes and lithological units all results are defined as downhole widths. • This drill spacing is also not sufficient to establish the degree of geological and grade continuity applied under the 2012 JORC Code.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	• See attached figures within this announcement.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• Refer to Tables 1 and 2 of this ASX Announcement.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• All relevant exploration data is reported in this announcement.
Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Refer to this announcement. • The extent of follow-up drilling has not yet been confirmed.

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