ALBRIGHT METALS LTD — Capital/Financing Update 2019

Oct 14, 2019

15 October 2019

ASX Announcement

Bryah Completes Drilling at Gabanintha

Drilling completed at the Tumblegum South Gold Prospect

Highlights:

• 16 drill holes (1,582 metres) have been completed, assay results pending

• Previous drilling in 2017 recorded significant gold intercepts included mineralisation of up to 1 ounce/tonne gold

Bryah Resources Limited (“Bryah” or “the Company”) is pleased to announce the completion of drilling at the high-grade Tumblegum South Gold Prospect, located within its Gabanintha Project, approximately 40km south of the town of Meekatharra in central Western Australia. The nearest gold processing plants to the Tumblegum South Prospect are located at the Burnakura mine and the Bluebird gold mine (see Figure 1).

Bryah holds a suite of mineral rights over tenements covering 170km² held by Australian Vanadium Limited (ASX:AVL). The mineral rights held by Bryah are for all minerals, excluding vanadium, titanium, cobalt, chromium, uranium, lithium, tantalum, iron ore and manganese.

2019 Drilling Programme

A total of 16 Reverse Circulation (RC) drill holes for a total of 1,582 metres has been completed in this programme. Drill hole locations are shown in Figure 2. One of the aims of this programme was to test for a southerly plunge extension to the high-grade mineralisation intersected in BGRC005 and BGRC015 as shown in the long section in Figure 3.

Samples have been dispatched to a laboratory in Perth for analysis and results are expected to be available in the coming weeks.

2017 Drilling Programme

In late 2017, a total of 26 RC drill holes for 2,484 metres were completed with several holes recording significant gold mineralisation (see Figure 2). The best 1 metre interval reported from the program was in hole BGRC015 at 47-48 metres (down hole depth), which assayed 32.18 g/t (~1.0 oz/t) Au and 0.44% Cu.[1]

The mineralised zones are characterised by very tightly controlled ductile shear zones consisting of moderate to intense chlorite, phlogopite (biotite), talc alteration zones and lesser silica and sericite with quartz-carbonate (± pyrite ± chalcopyrite) veining.

1 Refer to BYH ASX Announcement dated 1 March 2018 for full details

ASX Code: BYH Projects ABN: 59 616 795 245 Bryah Basin – Copper, Gold Shares on issue: 97,123,840 Manganese Latest Share Price: $0.052 Gabanintha – Gold, Copper Market Capitalisation: $5.1M bryah.com.au

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

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Figure 1 – Gabanintha Location Map

Follow-Up Activities

Once drilling assay results are received, the Company intends to complete a new phase of 3D modelling and a mineral resource estimate in accordance with the JORC Code later this year.

For further information, please contact:

Neil Marston

Managing Director Tel: +61 9321 0001

Address Level 1, 85 Havelock Street Page 2 of 4

Tel: +61 8 9321 0001

Email: info@bryah.com.au

West Perth WA 6005

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Figure 2 – Drill Hole Location Plan

Address Level 1, 85 Havelock Street Page 3 of 4 West Perth WA 6005

Tel: +61 8 9321 0001

Email: info@bryah.com.au

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Figure 3 – Long Section A-A’

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.

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

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