Bryah Resources Limited signed an agreement to acquire Peak Hill Project tenement (E52/3349) and the precious and base metal rights in the Gabanintha Project from Australian Vanadium Limited.

Bryah Resources Limited signed an agreement to acquire Peak Hill Project tenement (E52/3349) and the precious and base metal rights in the Gabanintha Project from Australian Vanadium Limited (ASX:AVL) on January 20, 2017. The consideration comprises issuance of 5 million ordinary fully-paid shares in Bryah Resources Limited and a 0.75% net smelter return royalty from the commencement of production. The deal is subject to completion of capital raising by Bryah Resources Limited of at least AUD 5 million and receiving conditional approval to be granted official quotation on Australia Stock Exchange for Bryah Resources Limited.

Bryah Resources Limited completed the acquisition of Peak Hill Project tenement (E52/3349) on March 3, 2017.