ALBRIGHT METALS LTD — Capital/Financing Update 2018

Oct 16, 2018

ASX Announcement

17 October 2018

Gold Discovery at Windalah Prospect in Bryah Basin

HIGHLIGHTS

• Drilling intersects gold at Windalah Prospect (formerly Mars 1 Anomaly)

• Thick zones of gold mineralisation recorded in 3-metre composite samples in 4 drill holes:  BBRC020: 27 metres (18-45m) @ 0.34 g/t Au 27 metres (132-159m) @ 1.43 g/t Au, including 3m (135-138m) @ 4.16 g/t Au and 3m (144-147m) @ 6.29 g/t Au;

• BBRC019: 21 metres (66-87m) @ 1.21 g/t Au, including 6m (78-84m) @ 3.52 g/t Au;

• BBRC018: 12m (21-33m) @ 0.71 g/t Au 9m (42-51m) @ 0.46 g/t Au

• BBRC017: 21 metres (30-51m) @ 0.14 g/t Au

• Gold mineralisation appears open along strike and down dip

• Significant pyrite-chlorite±sericite alteration zone observed

• Gold occurs within a hematite-rich jasperoidal chert stratigraphically above the pyrite alteration zone, which is potentially indicative of mineralisation being the gold portion of a Volcanogenic Massive Sulphide system.

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

• Completion of laboratory analyses and reporting

• Down Hole Electromagnetic (DHEM) survey of cased holes

• Geological, geochemical and geophysical interpretation and 3D modelling

Bryah Resources Limited (“Bryah” or “the Company”) is pleased to announce the discovery of multiple zones of gold mineralisation in drilling at the Windalah Prospect (formerly known as the Mars 1 Anomaly), which lies within the Company’s Bryah Basin Project in central Western Australia.

Address Level 1, 85 Havelock Street West Perth WA 6005 Tel: +61 8 9321 0001 Email: info@bryah.com.au

ASX Code: BYH Projects ABN: 59 616 795 245 Bryah Basin – Copper, Gold, Shares on issue: 56,350,120 Manganese Latest Share Price: $0.10 Gabanintha – Gold, Copper Market Capitalisation: $5.6M bryah.com.au

==> picture [596 x 83] intentionally omitted <==

The Company commenced Reverse Circulation (RC) drilling in August 2018 with the aim of testing up to six conductors identified by recently completed airborne Versatile Time-Domain Electromagnetic (VTEM) and ground Moving Loop Electromagnetic (MLEM) surveys. The electromagnetic (EM) anomalies are named Jupiter, Windalah, Mars 2, Mars 3, Peak Hill 1 and Peak Hill 2 as shown in Figure 1. A total of 6,194 metres of drilling was completed in 46 holes during the programme.

– RC Drilling Programme Windalah Prospect

At the Windalah Prospect a total of 9 holes (BBRC013-16 and BBRC024-28) for 1,688 metres have been drilled to test the modelled EM conductor (Mars 1). A further 5 holes (BBRC017BBRC020 and BBRC046) for 986 metres were drilled at an adjacent area where historical exploration, including shallow Rotary Air Blast (RAB) drilling in 1988 and 1989 had been completed by Afmeco Pty Ltd.

These RAB holes were generally drilled to a down-hole depth of just 40 metres and had recorded some 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.

The best intervals reported to date from the Company’s RC drilling programme are:

• BBRC020: 27 metres (18-45m) @ 0.34 g/t Au

• 27 metres (132-159m) @ 1.43 g/t Au, including

• 3m (135-138m) @ 4.16 g/t Au and 3m (144-147m) @ 6.29 g/t Au

• BBRC019: 21 metres (66-87m) @ 1.21 g/t Au, including

• 6m (78-84m) @ 3.52 g/t Au

• BBRC018: 12m (21-33m) @ 0.71 g/t Au 9m (42-51m) @ 0.46 g/t Au

• • BBRC017: 21 metres (30-51m) @ 0.14 g/t Au

Details of mineralisation recorded in RC drill holes at the Windalah Prospect are shown in Table 1 and in Figure 2. Assays results for 5 holes (BBRC024-28) remain outstanding.

Commenting on these results, Managing Director Neil Marston said “Today we have announced encouraging gold mineralisation has been recorded at the Windalah Prospect, in the Bryah Basin.

"This area was identified earlier this year in airborne and ground electromagnetic survey work as having potential for VMS systems. Our exploration strategy, which is centred on a systematic approach to target generation, is now proving its merit.

“With this initial success, we are more confident about further deep drilling in this area as we believe the Windalah prospect has great potential for a future copper-gold discovery."

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 Level 1, 85 Havelock Street Page 2 of 19 West Perth WA 6005

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

==> picture [596 x 83] intentionally omitted <==

==> picture [459 x 585] intentionally omitted <==

Figure 1 – Bryah Basin Tenements and Regional Geology Map showing EM anomalies identified by recent EM surveys.

Address Level 1, 85 Havelock Street Page 3 of 19 West Perth WA 6005

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

==> picture [596 x 83] intentionally omitted <==

– Local Geology Windalah Prospect

Recent geological reconnaissance work has confirmed that the Windalah Prospect lies on the contact of the Narracoota Formation and the overlying Ravelstone Formation, commonly referred to as the “Horseshoe Lights (HSL) Mine Sequence” (see Figure 1). This stratigraphic position is considered to be the most prospective for repetitions of Volcanogenic Massive Sulphide (VMS) copper-gold deposits, such as seen at Horseshoe Lights.

Figure 2 shows a combination of surface mapping and drill hole information (projected to surface) to understand the context of intense pyrite-chlorite±sericite alteration observed in drilling, particularly in holes BBRC017, BBRC018 and BBRC019.

Figures 3 and 4 show cross sections of drill holes BBRC017 – BBRC020 and BBRC046. The gold mineralisation and the strong alteration zone intersected appears to be open down dip and along strike in both directions.

Reported observations are:

• Gold mineralisation in BBRC019 and BBRC020 is located in a hematite-rich jasperoidal chert above the strong alteration zone, which could be indicative of a gold rich portion of a VMS system, such as was reported at the Horseshoe Lights copper-gold mine[2] .

• The chert zone is consistent with being the key marker of the HSL Mine Sequence as is seen in other parts of the Bryah Basin.

• The pyritic footwall alteration is within mafic volcanics of the Narracoota Formation, below sediments of the Ravelstone Formation and a Transitional/chert zone.

• BBC017 and BBC019 both appear to have drilled through the full thickness of the pyrite footwall alteration zone which is approximately 100 metres thick .

• BBC017 has a strong core of sericite-pyrite alteration, flanked by distal chlorite-sericitepyrite alteration.

• BBC018 ended still in the alteration zone, however it may not have reached the strong core which was seen in BBC017.

• Mapping in the Windalah region has revealed widespread sericite-pyrite alteration.

It is too early to establish whether the Company has located VMS footwall alteration, or epigenetic (later) structurally-controlled alteration. However, factors in favour of this being VMS footwall alteration are:

• The stratigraphy is similar to the Horseshoe Lights mine with gold mineralisation located within a jasperoidal chert.

• Horseshoe Lights is known to have similar barren sericite-pyrite footwall alteration.

• There is little evidence of major structures in the pyrite alteration zone (e.g. shear fabric and quartz veining).

2 Parker, T.W.H. and Brown T., 1990 Horseshoe gold-copper-silver deposit, in Geology of the Mineral Deposits of Australia and Papua New Guinea (Ed F.E. Hughes) pp 671-675 (The Australian Institute of Mining and Metallurgy: Melbourne)

Address Level 1, 85 Havelock Street Page 4 of 19 West Perth WA 6005

Tel: +61 8 9321 0001

Email: info@bryah.com.au

==> picture [596 x 83] intentionally omitted <==

One-metre samples from these holes are in transit to the laboratory for gold and multielement analysis. An update on these assay results will occur within weeks.

==> picture [463 x 541] intentionally omitted <==

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

Address Level 1, 85 Havelock Street Page 5 of 19 West Perth WA 6005

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

==> picture [596 x 83] intentionally omitted <==

==> picture [453 x 357] intentionally omitted <==

Figure 3 –Drill Section A-A’

– RC Drilling Programme Jupiter Prospect

Seven holes for 1,148 metres (BBRC004-BBRC008 and BBRC022-BBRC023) have been drilled at the Jupiter Prospect, testing a strong EM conductor. The Jupiter Prospect lies 4 km southwest of the Horseshoe Lights copper-gold mine (see Figure 5).

As previously announced (see ASX announcement dated 27 August 2018) drilling at the Jupiter EM conductor intersected a sulphide rich zone in BBRC007. The sulphide material intersected consisted of coarse and fine-grained massive, blebby and disseminated concentrations of pyrite associated with quartz veining in basalt. Massive sulphide pyrite concentrations of up to 30% of the rock mass were observed.

This hole was abandoned at a final depth of 246 metres (planned depth 300m) due to wet sample recovery.

Follow-up drill holes (BBRC008, BBRC022 and BBRC023) all experience similar wet ground conditions which hampered good sample recovery in all holes. As such a further 2 holes planned to test the modelled EM conductor plates were removed from the programme.

Address Level 1, 85 Havelock Street Page 6 of 19 West Perth WA 6005

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

==> picture [596 x 83] intentionally omitted <==

==> picture [452 x 355] intentionally omitted <==

Figure 4 – Drill Section B-B’

Despite the difficult ground conditions, wet sample recovery and lack of significant gold or copper being recorded, the geology intersected was highly encouraging with zones of propylitic alteration with strong chlorite, sericite and epidote observed. Follow-up diamond drilling appears warranted as part of future exploration to fully test this conductive area.

Further to the west of the Jupiter EM conductor, an additional 8 RC holes for 1,032 metres (BBRC001-BBRC003, BBRC009-BBRC012 and BBRC045) were drilled to test below anomalous gold and copper intervals reported from historical drilling.

The best interval reported to date was 9 metres @ 0.27 g/t Au and 1294ppm Cu in BBRC001. This intercept was also hosted in jasperoidal chert and has a pathfinder element signature that is comparable to the Horseshoe Lights mineralisation.

The assay results for BBRC045, which was drilled 40 metres to the west of BBRC001, have not yet been received from the laboratory.

Details of mineralisation recorded in RC drill holes at the Jupiter Prospect are shown in Table 2 below and Figure 5.

Address Level 1, 85 Havelock Street Page 7 of 19 West Perth WA 6005

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

==> picture [596 x 83] intentionally omitted <==

==> picture [441 x 629] intentionally omitted <==

Figure 5 – Regional Drill Hole Location Plan

Address Level 1, 85 Havelock Street Page 8 of 19 Tel: +61 8 9321 0001 West Perth WA 6005 Email: info@bryah.com.au

==> picture [596 x 83] intentionally omitted <==

RC Drilling Programme – Other Areas

Sixteen holes for 1,361 metres (BBRC029-BBRC044) have been drilled to test EM conductors identified at Mars 2, Mars 3, Mars 4 and Peak Hill 1. See Table 2 and Figure 5 for details of these holes.

The laboratory results for these holes are yet to be received.

Follow-Up Activities

The following activities are planned or under consideration:

• Completion of laboratory analyses and reporting

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

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

• Heritage surveys and Department of Mines, Industry Regulation and Safety (DMIRS) Programme of Works approvals will be required for the next round of drilling

For Further Information, please contact

Neil Marston Managing Director

Tel: +61 9321 0001

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.

Page 9 of 19

Address Level 1, 85 Havelock Street West Perth WA 6005

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

==> picture [596 x 83] intentionally omitted <==

Table 1 – Windalah Prospect

Laboratory Results – at a Cut-off >0.1g/t Au and Cu >250 ppm

Hole ID	Northing mN	Easting mE	Est. RL (m)	Azimuth & Dip (planned)	Total Depth (m)	Depth From (m)	Depth To (m)	Interval Width (m)	Gold g/t	Cu ppm
BBRC013	7181090	665750	500	45o,-60o	324	321	324	3	0.13
BBRC014	7181637	665678	500	45o, -60o	240	102	105	3	0.12
						117	120	3	0.14
						213	219	6	0.14
BBRC015	7181640	666020	500	225o, -60o	324	84	87	3	0.14
						186	189	3	0.37
BBRC016	7181785	665880	500	225o, -60o	324	27	30	3	0.17
						171	174	3	0.15
						255	258	3	0.14
BBRC017	7180912	665519	500	30o, -60o	204	0	3	3	0.18
						30	51	21	0.14
						81	84	3	0.12	456
BBRC018	7180858	665490	500	30o, -60o	210	21	33	12	0.71
						48	57	9	0.46
BBRC019	7180812	665560	500	30o, -60o	212	42	60	18	0.37
						66	87	21	1.21
				including		78	84	6	3.52
						114	126	15	0.15
BBRC020	7180723	665511	500	30o, -60o	192	18	45	27	0.34
						78	84	6	1.25	285
						108	114	6	0.18
						132	159	27*	1.43
				including		135	138	3	4.16	551
					and	144	147	3	6.29	304
BBRC024	7181473	665492	500	45o,-60o	72	Assayspending
BBRC025	7181489	665523	500	45o,-60o	72	Assayspending
BBRC026	7181515	665548	500	45o,-60o	78	Assayspending
BBRC027	7181543	665580	500	45o,-60o	90	Assayspending
BBRC028	7181590	665624	500	45o,-60o	164	Assayspending
BBRC046	7180806	665460	500	45o,-60o	168	Assayspending

Note: * includes 1 x 3m interval <0.1g/t Au

Page 10 of 19

Address Level 1, 85 Havelock Street West Perth WA 6005

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

==> picture [596 x 83] intentionally omitted <==

Table 2 – Jupiter and Other Prospects

Laboratory Results – at a Cut-off >0.1g/t Au and Cu >250 ppm

Hole ID	Northing mN	Easting mE	Est. 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	7191420	659281	500	30o,-60o	121	51	60	9	0.27	1294
BBRC002	7191388	659261	500	30o,-60o	163	No Significant Results
BBRC003	7191330	659591	500	30o,-60o	100	75	78	3	0.16
BBRC004	7190606	660567	500	30o,-60o	127	No Significant Results
BBRC005	7190530	660486	500	30o,-60o	93	No Significant Results
BBRC006	7190447	660406	500	30o,-60o	124	No Significant Results
BBRC007	7190328	660559	500	45o,-60o	246	No Significant Results
BBRC008	7190370	660600	500	45o,-60o	162	No Significant Results
BBRC009	7191901	658852	500	30o,-60o	120	No Significant Results
BBRC010	7191936	658756	500	30o,-60o	126	111	114	3	0.16
BBRC011	7191996	658675	500	30o, -60o	180	144	147	3	0.10
						159	162	3	0.10
BBRC012	7191562	658696	500	15o,-60o	138	96	99	3	0.19
BBRC022	7190395	660625	500	45o,-60o	180	Assayspending
BBRC023	7190190	660700	500	45o,-60o	216	Assayspending
BBRC045	7191443	659244	500	30o,-60o	84	Assayspending
Mars 2 Prospect
BBRC029	7184692	664425	500	180o,-60o	132	Assayspending
BBRC030	7184758	664419	500	180o,-60o	155	Assayspending
Mars 3 Prospect
BBRC031	7184985	663403	500	45o,-60o	108	Assayspending
BBRC032	7185145	663580	500	225o,-60o	96	Assayspending
BBRC033	7185183	663620	500	225o,-60o	144	Assayspending
BBRC034	7185239	663672	500	225o,-60o	90	Assayspending
Mars 4 Prospect
BBRC035	7183630	663939	500	45o,-60o	84	Assayspending
BBRC036	7183672	663978	500	45o,-60o	60	Assayspending
BBRC037	7183708	664016	500	45o,-60o	42	Assayspending
BBRC038	7183747	664056	500	45o,-60o	42	Assayspending
Peak Hill 1	Prospect
BBRC039	7169599	668898	500	0o,-60o	54	Assayspending
BBRC040	7169644	668898	500	0o,-60o	48	Assayspending
BBRC041	7169709	668901	500	0o,-60o	48	Assayspending
BBRC042	7170163	668900	500	180o,-60o	78	Assayspending
BBRC043	7170210	668900	500	180o,-60o	100	Assayspending
BBRC044	7170302	668915	500	180o,-60o	80	Assayspending

Address Level 1, 85 Havelock Street Page 11 of 19 West Perth WA 6005

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

==> picture [596 x 83] intentionally omitted <==

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.

Page 12 of 19

Address Level 1, 85 Havelock Street West Perth WA 6005

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

==> picture [163 x 47] intentionally omitted <==

Appendix 1

JORC Code, 2012 Edition – Table 1 Exploration Results

Section 1 Sampling Techniques and Data

• Criteria JORC Code explanation Sampling • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry techniques 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.

• Commentary • 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 will be 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 are being 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

			•	All Bryah Resources samples collected are being 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	•	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc)	•	Bryah Resources’ Reverse Circulation (RC) holes were
techniques		and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or		drilled with a contract RC drilling rig.
		other type, whether core is oriented and if so, by what method, etc).	•	All RC holes were drilled using a 145mm (5.5in) face-
				sampling drilling bit.
Drill sample	•	Method of recording and assessing core and chip sample recoveries and results assessed.	•	The RC samples were not weighed or measured for
recovery	•	Measures taken to maximise sample recovery and ensure representative nature of the samples.		recovery.
	•	Whether a relationship exists between sample recovery and grade and whether sample bias may have	•	To ensure maximum sample recovery and the
		occurred due to preferential loss/gain of fine/coarse material.		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 is

Page 13 of 19

==> picture [163 x 47] intentionally omitted <==

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 are 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.

Page 14 of 19

==> picture [163 x 47] intentionally omitted <==

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.

Page 15 of 19

==> picture [163 x 47] intentionally omitted <==

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 will be 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.

Page 16 of 19

==> picture [163 x 47] intentionally omitted <==

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.

Page 17 of 19

==> picture [163 x 47] intentionally omitted <==

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 contact with overlying felsic volcanic schist.

Page 18 of 19

==> picture [163 x 47] intentionally omitted <==

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.

Page 19 of 19