ALBRIGHT METALS LTD — Capital/Financing Update 2018

Aug 26, 2018

ASX Announcement

27 August 2018

Sulphides Intersected in Drilling at Jupiter Prospect

HIGHLIGHTS

• Reverse Circulation (RC) drilling commenced at the Jupiter Prospect.

• First hole (BBC007) drilled to test Moving Loop Electromagnetic (MLEM) conductor modelled at 225-275 metres down hole depth.

• Sulphide rich zone over 13 metres intersected between 224 -237 metres down hole depth, interpreted to be part of the EM conductor.

• Sulphide rich zone consists of coarse and fine-grained pyrite associated with quartz veining and disseminated pyrite in basalt with massive pyrite concentrations of up to 30% of the rock mass observed.

• Samples in transit to laboratory - assay results pending.

• Results at Jupiter provides great confidence to drill the 5 other EM anomalies recently identified by the various geophysical surveys.

• Drilling is ongoing with the rig now drilling at Mars 1 EM target.

Bryah Resources Limited (“Bryah” or “the Company”) would like to provide an update on the Reverse Circulation (RC) drilling at its Aquarius Project at the Company’s Bryah Basin Project in central Western Australia.

Drilling commenced earlier this month at the Jupiter Prospect with the aim of testing six conductors identified by airborne (Variable Time Electromagnetic – VTEM) and ground (Moving Loop Electromagnetic - MLEM) surveys recently completed by the Company (see Figure 1).

The first deep (>200 metres) RC drill hole completed in this programme (BBC007) was designed to test an electromagnetic (EM) conductor, modelled by our consultant geophysicists to lie at a depth of 225-275 metres.

The Company is pleased to advise that the hole intersected a 13-metre-wide sulphide rich zone from 224-237 metres depth, which is considered to potentially be the source, or part thereof, of the EM conductor.

The sulphide material intersected consists 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.

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:$0.11	Gabanintha –	Gold, Copper
Email:info@bryah.com.au	Market Capitalisation:$6.2M	bryah.com.au

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

Address Level 1, 85 Havelock Street Page 2 of 15 West Perth WA 6005

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

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This hole was abandoned at a final depth of 246 metres (planned depth 300m) due to wet sample recovery. A significant amount of water was intersected throughout this hole from a depth of approximately 156 metres. A follow-up drill hole, BBC008, was collared 50 metres NE of BBC007 to test the up-dip extension of the sulphide zone intersected in BBC007 (see Figure 2).

However, hole BBC008 was also abandoned at 162 metres depth (planned depth 260m) due to water, before the expected target depth for the up-dip extension of the sulphide zone intersected in BBC007. Hole BBC008 was successfully cased with PVC in order to permit a Down Hole Electromagnetic (DHEM) survey to be undertaken.

Samples from hole BBC007 are being transported to an independent laboratory in Perth this week for priority analysis. The Company will report laboratory results as soon as possible.

Earlier, the Company drilled a line of 3 drill holes approximately 200 metres along geological strike to the NW of BBC007 (see Figure 2). All holes drilled (BBC004-BBC006) also encountered water and, due to the unavailability of additional auxiliary air, drillers struggled to maintain dry sample recovery. Despite some samples being wet, the geology observed in these holes was encouraging (see Table 2).

Drill hole BBC004 was drilled to 127 metres depth (planned depth 120m) and intersected water from 86m, with complete oxidation to 105m. Quartz – carbonate - sericite veins as well as chlorite, sericite and siliceous alteration was observed.

Drill hole BBC005 was drilled to 93 metres depth (planned depth 140m) and was abandoned due to wet samples from 80 metres. The hole ended in altered basalt with frequent quartz - carbonate veining.

Drill hole BBC006 was drilled to 124 metres depth (planned depth 160m) and was also abandoned due to wet samples. Quartz – carbonate – sericite veins as well as chlorite, sericite and siliceous alteration was observed. From 118m – 121m fine grained disseminated and blebby pyrite in a bleached alteration zone was observed with up to 6% of the rock mass consisting of pyrite. From 121 – 124m (EOH due to ingress of water) an estimate of 3% disseminated pyrite was observed. Samples from BBC004-BBC006 have also been sent to the laboratory for analysis.

The presence of so much water in the area of drill holes BBC004-BBC008 means the Company may have to switch to diamond drilling to improve sample recovery in this exciting area. A decision on this will be made as soon as the laboratory assays for BBC004-BBC007 are received. The Company will also endeavour to undertake a DHEM survey of BBC008 ahead of follow-up drilling.

The intersection of sulphide material in BBC007, which coincides with the modelled conductor plate gives the Company great confidence about drilling the other five high priority EM conductors at Mars 1, Mars 2, Mars 3, Peak Hill 1 and Peak Hill 2 (see Figure 1).

Address Level 1, 85 Havelock Street Page 3 of 15 West Perth WA 6005

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

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Figure 2 – Jupiter Prospect Drill hole location plan overlain on VTEM image (Ch30 1vd NE sun)

Address Level 1, 85 Havelock Street Page 4 of 15 West Perth WA 6005

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

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The drill rig has been moved to the Mars 1 EM target and has commenced drilling the first 300 metre deep hole.

Drilling of EM targets at Jupiter and Mars is being co-funded with up to $150,000 from the Western Australian State Government under its Exploration Incentive Scheme ( refer to ASX Announcement dated 30 May 2018 ).

For Further Information, please contact

Neil Marston Managing Director

Tel: +61 9321 0001

Table 1 – Drill Hole Information

		Jupiter Prospect	Jupiter Prospect	Jupiter Prospect
		RC Drilling Programme
		Drill Hole	Information
Hole ID	Northing (m)	Easting (m)	Planned Azimuth (degrees)	Planned Dip (degrees)	Planned Hole Depth (m)	Actual Hole Depth (m)
BBC001	7191420	659281	030	-60	120	121
BBC002	7191388	659261	030	-60	160	163
BBC003	7191330	659591	030	-60	160	100
BBC004	7190606	660567	045	-60	120	127
BBC005	7190530	660486	045	-60	140	93
BBC006	7190447	660406	045	-60	160	124
BBC007	7190325	660555	045	-60	300	246
BBC008	7190360	660590	045	-60	260	162

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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 – Summary Geology

			Jupiter Prospect RC Drilling Programme Summary Geology
Hole	From (m)	To (m)	Summary Geology
BBC001	0	28	Weathered Ravelstone Sediments
	28	49	Slightly weathered volcaniclastics
	49	59	Jasperoidal chert with trace sulphides (<0.1%) and up to 10% quartz- carbonate veining
	59	86	Slightly weathered Narracoota Mafic Volcanics and Sediments
	86	121	Fresh Narracoota Mafic Volcanics and Sediments
BBC002	0	25	Slightly weathered Proterozoic Dolerite
	25	163	Fresh Proterozoic Dolerite
BBC003	0	28	Slightly weathered Proterozoic Dolerite
	28	100	Fresh Proterozoic Dolerite
BBC004	0	42	Strongly Weathered Mafic Narracoota Volcanics and Sediments with localisedquartz – carbonate veining
	42	86	Strongly Weathered Mafic Narracoota Volcanics and volcanogenic sediments
	86	121	Strongly Weathered Mafic Narracoota Volcanics and volcanogenic sediments (intermittent wet samples 86-104m, 104-121m wet samples)
	121	127	Slightly Weathered Mafic Narracoota Volcanics and volcanogenic sediments (wet samples)
BBC005	0	27	Strongly Weathered Mafic Narracoota Volcanics and volcanogenic sediments
	27	76	Strongly Weathered Mafic Narracoota Volcanics and volcanogenic sediments with localisedquartz – carbonate veining
	76	81	Moderately Weathered Mafic Narracoota Volcanics and volcanogenic sediments with regularquartz – carbonate veiningupto 75%
	81	86	Slightly Weathered Mafic Narracoota Volcanics and volcanogenic sediments with regular quartz – carbonate veining up to 10% (wet samples)
	86	87	Slightly Weathered Mafic Narracoota Volcanics with quartz – carbonate - pyrite veiningof 50% (wet samples)
	87	93	Slightly Weathered Mafic Narracoota Volcanics and volcanogenic sediments with regular quartz – carbonate veining up to 10% (wet samples)

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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 – Summary Geology (cont)

			Jupiter Prospect RC Drilling Programme Summary Geology
Hole	From (m)	To (m)	Summary Geology
BBC006	0	66	Strongly Weathered Mafic Narracoota Volcanics with localised quartz – carbonate veining
	66	106	Strongly Weathered Mafic Narracoota Volcanics and volcanogenic sediments
	106	118	Slightly Weathered Mafic Narracoota Volcanics with chlorite – sericite - silica alteration
	118	121	Slightly Weathered Mafic Narracoota Volcanics with chlorite – sericite - silica alteration and 6% disseminated and blebby pyrite
	121	124	Slightly Weathered Mafic Narracoota Volcanics with chlorite – sericite - silica alteration and 3% disseminated and blebby pyrite (wet samples)
BBC007	0	60	Strongly Weathered Mafic Narracoota Volcanics
	60	144	Slightly Weathered Mafic Narracoota Volcanics with localised quartz – carbonate veining
	144	156	Slightly Weathered Mafic Narracoota Volcanics with chlorite – sericite alteration and localisedquartz veining
	156	180	Slightly Weathered Mafic Narracoota Volcanics with chlorite – sericite alteration and localisedquartz veining(intermittent wet samples)
	180	224	Fresh Mafic Narracoota Volcanics with chlorite – sericite alteration with up to 3% disseminated pyrite and quartz veining up to 15% (intermittent wet/drysamples)
	224	237	Fresh Mafic Narracoota Volcanics with epidote - chlorite – sericite - silica alteration with up to 30% massive, disseminated and blebby pyrite and up to 15%quartz veining(intermittent wet/drysamples)
	237	246	Fresh Mafic Narracoota Volcanics with chlorite – sericite - silica alteration with up to 3% disseminated pyrite and quartz veining up to 10% (intermittent wet/moist samples)
BBC008	0	40	Strongly Weathered Mafic Narracoota Volcanics
	40	49	Slightly Weathered Mafic Narracoota Volcanics with localised quartz – carbonate veining
	49	50	Slightly Weathered Mafic Narracoota Volcanics with 70% quartz – carbonate veiningand 5% disseminatedpyrite
	50	70	Moderately Weathered Mafic Narracoota Volcanics with very localised quartz – carbonate veining
	70	107	Moderately Weathered Mafic Narracoota Volcanics with very localised quartz – carbonate veiningand veryminor disseminatedpyrite (0.5%)
	107	117	Fresh Mafic Narracoota Volcanics with chlorite alteration
	117	119	Fresh Mafic Narracoota Volcanics with chlorite alteration and minor quartz veining (10%)and disseminatedpyrite(3%)
	119	162	Fresh Mafic Narracoota Volcanics with chlorite alteration and localised minor quartz veining (5%)

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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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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 up 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, and

• 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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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) is utilising angled Reverse Circulation (RC) drill holes. • RC drilling was drilled 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 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

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Criteria	JORC Code explanation	Commentary
		is returned from the cyclone and cone splitter. This is 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 will be 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 the 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 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 25g 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 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.
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

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Criteria	JORC Code explanation	Commentary
		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 will be 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 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 composites or less if specified.
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

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Criteria	JORC Code explanation	Commentary
		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 tenement (E52/3238) is 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 tenement is in good standing.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Previous exploration in the Jupiter Prospect has been undertaken by Barrack Exploration 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. • Both explorers identified the prospectivity of the area however exploration results were not generally followed up due to external funding and land access factors.

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Criteria	JORC Code explanation	Commentary
Geology	• Deposit type, geological setting and style of mineralisation.	• The Jupiter Prospect 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 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 to produce intermediate SW dips on western limbs and steep SW dips on eastern limbs. The massive and disseminated sulphide envelope of the deposit itself is also SW dipping and plunging to the SSE (150o) and was likely folded. It sits within altered basalt and mafic volcaniclastic units along the contact withoverlyingfelsicvolcanic schist.
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.

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Criteria	JORC Code explanation	Commentary
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 is on-going no relationships have been established.
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.	• No assay results have been received or reported.
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.	• No other exploration data available.
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.	• Drilling is on-going.

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