Bryah Resources : VMS system with copper-gold potential confirmed at Windalah

ASX ANNOUNCEMENT

12TH APRIL 2022

Volcanogenic Massive Sulphide (VMS) system with copper-gold potential confirmed at Windalah

HIGHLIGHTS:

•  Geological, structural, geochemical and hyperspectral vectors suggest that copper mineralisation is likely at a greater depth than current drilling. Targeting work is ongoing.

•  Six diamond drillholes (DDH) completed for a total of 1,260m at the Windalah Prospect.

•  Geology displays textbook high sulphidation VMS geological features and textures, confirming an ancient syngenetic hydrothermal volcanogenic massive sulphide (VMS) system.

•  Exhalative massive sulphide horizon located at the equivalent stratigraphic position of the Horseshoe Lights Cu-Au mine, beneath the Upper Narracoota-Ravelstone Formation contact.

•  Broad sulphide-rich zone with copper mineralisation and VMS pathfinder element enrichment intersected. Large intersections of significantly sulphide enriched rocks include:

  • o 146m @ ~15.7 weight percentages1 (wt%) sulphide stringer zone from 182m in BBDD0011 (includes 3.12m massive sulphide zone)

  • o 89m @ ~19.4 wt% sulphide stringer zone from 176m in BBRD0701 (includes 5.95m massive sulphide zone)

•  Supergene upgrade and visual identification2 of copper minerals including Bornite, Chalcopyrite and Malachite.

•  Best assays include:

  • o 3.07m @ 0.13% Cu and 0.27ppm Au from 125.5m in hole BBRD070

  • o 3.79m @ 0.1% Cu from 319.7m in hole BBRD070

  • o 0.24m @ 0.15% Cu from 125.66m in hole BBDD001

• 1 wt% pyrite estimates are based upon sulphur assays. The accepted estimation is pyrite wt% = S% x 1.87 (assuming all sulphur is in pyrite

• 2 2Cautionary Note: In relation to disclosure of visual mineralisation, the Company cautions that visual estimates of mineralisation content/intensity should not be considered a proxy or substitute for laboratory analyses, which are required to determine the widths and grade of the mineralisation.

ASX: BYH |bryah.com.au

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Cu-Au Exploration - WHAT'S COMING UP?

•  Cu-Au mineralisation vectors from the drilling indicate down dip target to the south-west (SeeFigure 3andFigure 4). Follow up diamond drilling programme design is underway.

•  BYH has received $130,000 in co-funded EIS funding from the Government of Western Australian to undertake a RC drilling program. Drilling the nearby Olympus Prospect is to commence in early May which will test another geochemical auger soil and rock chip anomaly on the northern limb of the Mars Dome.

•  Mapping and rock chip multi-element geochemistry indicates Olympus is in a similar geological setting to Windalah and the nearby Horseshoe Lights Cu-Au Mine.

Figure 1: Example banded/laminated massive sulphide (BBRD070 @ 209.2) from within 5.95m zone (BBRD070 203.97 - 209.92m)

Bryah Resources Limited (ASX: BYH, "Bryah" or "the Company") is pleased to announce the completion of a 6-hole diamond drilling program for 1260m at Windalah which has greatly advanced the understanding of the geology. The drilling has confirmed the presence of a high sulphidation Volcanogenic Massive Sulphide (VMS) system, with copper-gold potential typical of high sulphidation VMS deposits.

VMS systems in the Bryah Basin are known to host high-grade copper-gold deposits such as Sandfire's DeGrussa and Monty mines and the historic Horseshoe Lights mine, located 13 kilometres to the north of Bryah's Windalah Prospect. This sulphide-rich zone occupies the same stratigraphic position as the Horseshoe Lights deposit. The geochemical, hyperspectral and structural information from diamond core allows the Company to refine its targeting for the next round of drilling atWindalah. Importantly, Bryah is now of the view that the upcoming EIS co-funded drilling at Olympus is targeting a different part of a similar hydrothermal system to Windalah, and may also be stratigraphically equivalent to the Horseshoe Lights Cu-Au mine sequence.

Commenting on the results of the diamond drilling programme, Bryah CEO Ashley Jones said:

"Having visual confirmation that we are within a VMS system is a massive step forwards for this project. The sulphide stringers in the distal parts of these deposits are usually from cooler fluids and without copper. The aim now is to vector within the VMS system and find the 'hotter' area where the copper mineralisation should be deposited. Seeing some secondary copper minerals in veins is also encouraging. Bryah's geology team is using external experts, hyperspectral, geochemical, alteration, and structural observations to zero in on the 'hot' target zone.

Our understanding of the area is also paying dividends and our exploration team is using more refined techniques to advance other prospects like Olympus. With the Narracoota geology hosting the Horseshoe Lights and DeGrussa copper mines, we certainly have the right address to explore. The schematic deposit style shown below are the results of the progressive understanding of the project."

Figure 2 Malachite in oxidise quartz vein (BBRD070 @ 125.8m)

Schematic Interpretation and Targeting

The 1,260m of diamond drilling completed at Windalah has greatly improved Bryah Resources' understanding on the geology and potential controls on mineralisation at Windalah. Figures 2 and 3 reflect this with:

• • Identification of orientation and intersection of laminated 'syn-VMS' stringers and the 'ore stratigraphic horizon' analogous with the Horseshoe Lights Cu-Au mine, generating a steeply plunging target window(Figure 3).

• • An improved schematic syn-depositional model that places current drilling on the periphery of an exhalative massive sulphide apron in a high sulphidation VMS system(Figure 4).

Figure 3: Schematic geological map of the Windalah prospect

Figure 4: Conceptual pre deformation/unfolded/syngenetic cross section through Windalah3.

Diamond Drilling Program

The diamond drilling program was planned to include diamond tails drilled from three pre-collars (BBRC052, BBRC064 and BBRC066) and 2 step-back holes drilled from surface to a down hole depth of approximately 350 metres each. One of these (BBRD070) included a 61m RC precollar.

During the program an additional hole BRDD071 was added to the program due to encouraging signs observed in the step-back drill holes, BBDD001 and BRDD070. In total approximately 1,260 metres of diamond core was drilled in the program.

The location of the diamond drill holes is shown in Figure 5. Appendix 1 contains detailed drillhole information.

3 Note that this section is entirely conceptual in nature and insufficient drilling has been completed to date to validate the legitimacy of these interpretations. The relative scale of domains within the section are not to be considered reliable estimations of the scale of potential mineralisation.