ALBRIGHT METALS LTD — Capital/Financing Update 2019

Oct 6, 2019

7 October 2019

ASX Announcement

Bryah Drilling Underway at Gabanintha

Drilling testing the Tumblegum South Prospect ahead of Mineral Resource Estimate

Highlights:

• 3D modelling of recent drilling at Tumblegum South Prospect identifies potential to extend high-grade gold mineralisation with further drilling

• Approximately 1,500m RC drilling to be completed ahead of mineral resource estimate

• 1

• • Previous results reported from drilling in 2017 included mineralisation of up to 1 ounce/tonne gold

Bryah Resources Limited (“Bryah” or “the Company”) is pleased to announce that drilling has commenced at the high-grade Tumblegum South Gold Prospect, located within its Gabanintha Project in central Western Australia (see Plate 1). The Gabanintha Project is located approximately 40km south of the town of Meekatharra in Western Australia (see Figure 1).

Through recent 3D modelling, the Company has identified potential opportunities to extend existing zones of gold mineralisation. Modelling indicates that mineralised zones intersected in earlier drilling are generally open along strike and/or down plunge/dip and that extensional drilling is warranted to further test the mineralised lenses and the extent of historical underground workings.

The Company has planned a total of 16 additional drill holes with the locations shown in Figure 2. One of the aims of this programme is 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.

Managing Director Neil Marston said:

“We are delighted to have started drilling within hours of finalizing our $2 million placement last Friday. This drilling forms a key part of our short-term strategy, which is to define gold mineral resources at Tumblegum South where such resources could potentially be treated through nearby gold processing facilities.”

“We had some very encouraging results in our 2017 programme, so we look forward to completing this programme over the next fortnight and reporting the results in the weeks following.”

1 Refer ASX Announcement dated 1 March 2018

ASX Code: BYH Projects ABN: 59 616 795 245 Bryah Basin – Copper, Gold Shares on issue: 97,123,840 Manganese Latest Share Price: $0.06 Gabanintha – Gold, Copper Market Capitalisation: $5.8M 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

Bryah holds a suite of mineral rights over tenements covering 170km² held by Australian Vanadium Limited (ASX:AVL) (see Figure 1). The mineral rights held by Bryah are for all minerals, excluding vanadium, titanium, cobalt, chromium, uranium, lithium, tantalum, iron ore and manganese.

The nearest gold processing plants to the Tumblegum South Prospect are located at the Burnakura mine (20km to the southwest) and the Bluebird gold mine (33 km to the northwest) (see Figure 1).

Gold was first discovered in the Gabanintha area in 1897. Since then there has been mining activities for gold and copper intermittently up until the most recent closure of open pit gold mining operations by Dominion Mining Limited in 1992.

Address Level 1, 85 Havelock Street Page 2 of 5 West Perth WA 6005

Tel: +61 8 9321 0001

Email: info@bryah.com.au

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Plate 1 – Drill Rig on site at Gabanintha

2017 Drilling Programme

In late 2017, a total of 26 RC drill holes for 2,484 metres were completed (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.[2]

At Tumblegum South, underground workings beneath a collapsed shaft have been intersected to a vertical depth of over 80 metres in BGRC002 (see Figure 3).

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.

2 Refer ASX Announcement dated 1 March 2018

Address Level 1, 85 Havelock Street Page 3 of 5 West Perth WA 6005

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

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Figure 2 – Drill Hole Location Plan

Follow-Up Activities

Once drilling results have been received, the Company intends completing 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 4 of 5 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 5 of 5 West Perth WA 6005

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