ALBRIGHT METALS LTD — Capital/Financing Update 2018

Aug 7, 2018

8 August 2018

ASX Announcement

Deep Drilling for Copper-Gold Starts in Bryah Basin

HIGHLIGHTS

• Reverse Circulation Drilling commenced at the Jupiter prospect.

• 3 EM anomalies at the Mars Prospect to be drill tested next.

• At least 5,000m of RC drilling planned.

• Parts of the programme to be co-funded under the WA State Government’s Exploration Incentive Scheme.

Bryah Resources Limited (“Bryah” or “the Company”) is pleased to advise of the commencement of Deep Reverse Circulation (RC) drilling at its Aquarius Copper-Gold Project at the Company’s Bryah Basin Project in central Western Australia.

The drilling programme is the culmination of 18 months of target generation work which commenced prior to the successful listing of the Company in October 2017.

Work completed ahead of the drilling has included:

• High-resolution aeromagnetic and radiometric surveying;

• geological mapping and sampling, aimed at identifying the most prospective stratigraphy;

• high-resolution airborne electromagnetic surveying using the VTEM™ Max system; and

• high-resolution ground Moving Loop Electromagnetic (MLEM) surveying.

The aim of the MLEM survey was to better define the depth and orientation of selected anomalies detected by the VTEM geophysical survey.

The MLEM survey successfully tested 6 high-priority EM anomalies named Jupiter, Mars 1, Mars 2, Mars 3, Peak Hill 1 and Peak Hill 2 (see Figure 1). Conductor plate modelling of these anomalies has been completed and used to design a number of holes up to 300m depth which will test the most promising anomalies detected.

The programme is expected to involve at least 5,000 metres of drilling to test the Jupiter, Mars 1, Mars 2 and Mars 3 targets. Drilling at Jupiter and Mars is to be 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 ).

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:$0.125	Gabanintha –	Gold, Copper
Email:info@bryah.com.au	Market Capitalisation:$7.04M	bryah.com.au

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Figure 1 – Bryah Basin Tenements and Regional Geology Map showing EM anomalies covered by MLEM survey.

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Commenting on the commencement of drilling, Managing Director Neil Marston said: “This is a key milestone in our exploration strategy as we undertake the first deep drilling programme at these significant targets within the Aquarius copper-gold project.”

For further information, please contact:

Neil Marston

Managing Director

Tel: +61 9321 0001

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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.

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 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, and

• to apply maximum funds on exploration activities.

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 – Bryah Basin

The information in this report 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 report 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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