ALBRIGHT METALS LTD — Capital/Financing Update 2020

Jun 21, 2020

ASX Announcement

22 June 2020

BRYAH TO COMMENCE GOLD DRILLING PROGRAM Drilling funded by Tranche 1 Placement completed last week

HIGHLIGHTS:

• RC drilling contract signed, with program scheduled to commence later this week

• 2,000 metres of RC drilling planned to test the Windalah Gold prospect and a high priority EM conductor target north of Peak Hill

• At the Windalah Prospect , Bryah recently intersected high-grade gold mineralisation, reporting 12 m @ 4.32 g/t Au from surface, including 2 m (3-5m) @ 17.19g/t Au (hole BBRC049)

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Bryah Resources Limited (“ Bryah ” or “the Company ”) is pleased to advise that it has signed a contract to undertake approximately 2,000 metres of reverse circulation (RC) drilling in the Bryah Basin, with drilling scheduled to commence later this week.

The RC drilling program will target the following 2 areas:

1. The high priority Windalah gold prospect (see Figure 1), where 2018 and recent drilling returned exceptional intersections, including:

   • 12 m @ 4.32 g/t Au from surface, including 2 m @ 17.19 g/t Au from 3 m (BBRC049)[1]

   • 5 m @ 6.62 g/t Au from 79 metres, including 1 m @ 15.15 g/t Au from 82 m (BBRC019)[2]

   • 3 m @ 6.69 g/t Au from 145 metres, including 1 m @ 10.52 g/t Au from 146 m (BBRC020)[2]

2. A significant electromagnetic (EM) conductor target located 7km north of the Peak Hill Gold Mine[3] ; where the Company plans to drill and case 2 holes to a depth of approximately 300 metres. This conductor was originally identified in early 2018 by a helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) geophysical survey and subsequently confirmed by a Moving Loop Electromagnetic (MLEM) ground survey. Once cased, the Company will be able to undertake down hole EM surveys of the drillholes, to assist in follow-up exploration.

The drilling program is being funded from the recently completed Tranche 1 placement of 20,530,960 new shares at an issue price of $0.05 per share which raised $1,026,548 (before costs)[4]

Managing Director, Neil Marston said:

“Following the successful completion of the Tranche 1 placement, the Company has moved quickly to commit to drilling the first of its excellent gold and copper targets.

1 Refer BYH ASX announcement dated 4 June 2020 for details

2 Refer BYH ASX announcement dated 22 November 2018 for details

3 Refer BYH ASX announcement dated 28 February 2018 for details

4 Refer BYH ASX announcement dated 12 June 2020 for details

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: 121,404,800 Manganese Tel: +61 8 9321 0001 Latest Share Price: $0.048 Gabanintha – Gold, Copper Email: info@bryah.com.au Market Capitalisation: $5.8M bryah.com.au

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We have some outstanding gold results at Windalah to follow-up and the EM target north of Peak Hill has the potential to be indicative of Volcanogenic Massive Sulphide copper-gold mineralisation.”

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Figure 1 - Project Location Map

The board of directors of Bryah Resources Limited has authorised this announcement to be given to the ASX. For further information, please contact

Neil Marston Managing Director

Tel: +61 9321 0001

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About Bryah Resources Limited

Bryah Resources Limited is a copper-gold-manganese focused explorer with 2 projects located in central Western Australia, being the 1,135km[2] Bryah Basin Project and the 170km[2] Gabanintha Project.

The Bryah Basin is host to the high-grade copper-gold mines at DeGrussa, discovered by Sandfire Resources Limited in 2009, and at Horseshoe Lights, which was mined until 1994. The Bryah Basin also has several historical and current manganese mines including the Company’s recently acquired Horseshoe South mine. The Company has secured a joint venture agreement with OM (Manganese) Limited in respect to its manganese rights only in respect to approximately 660 km[2] of its Bryah Basin tenement holdings.

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. Bryah has announced a maiden Inferred Mineral Resource at the Tumblegum South Prospect at Gabanintha of 600,000 tonnes @ 2.2 g/t Au for 42,500 oz Au[5] .

Competent Persons Statement – Exploration Results

Where the Company refers to Exploration Results in this announcement (referencing previous releases made to the ASX), the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements.

Competent Person Statement — Mineral Resource Estimation

The information in this announcement that relates to Mineral Resources (see BYH ASX announcement dated 29 January 2020) is based on and fairly represents information compiled by Mr Ashley Jones, Consultant with Kamili Geology Pty Ltd. Mr Jones is a member of the Australasian Institute of Mining and Metallurgy (AusIMM).

The Company confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate with that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not materially changed from the original announcement.

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.

5 See BYH ASX Announcement dated 29 January 2020 for full details

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