Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI), the North America-focused lithium development group, is pleased to announce that it has today published its unaudited financial results for the nine and three-months ended 30 November 2023, and the Management's Discussion and Analysis for the same period.

Both of the above have been posted on the Company's website www.braddaheadltd.com and are also available on SEDARplus (www.sedarplus.ca/landingpage).

Financial and operational highlights

The Company released an updated Mineral Resource Estimate ('MRE') on 28 September 2023, which includes a total Inferred LCE content of 1.0 Mt.

The total new MRE now comprises 17.0 million tonnes in the Indicated category at 940 ppm carrying 85kt LCE, and 210 million tonnes in the Inferred category at 900 ppm, carrying 1,000 kt LCE.

The average in situ grade of the Inferred Basin East Mineral Resource has increased from 694 to 900 ppm Li, a 30% increase.

Following the release of an updated MRE and as per the Royalty Agreement with the Lithium Royalty Corporation ('LRC'), Bradda Head formally requested payment of US$ 2.5 million from LRC, with funds being received during October 2023.

Drilling continued at our San Dominog pegmatite asset, with first assay results being received where grades of up to 0.83% Li2O over 6.35m and 1.03% Li2O over 3.05m were identified.

Ian Stalker, Chairman of Bradda Head, commented:

'This quarter has been one that reflects the efforts we are putting into all our USA Lithium Projects, with positives steps made at our San Domingo lithium in pegmatite asset, our Basin Sedimentary Lithium Clay Project and a re-evaluation of our Lithium in Oli Brines in Texas and Pennsylvania. This project effort is allied to our own house keeping efforts to ensure Bradda Head treasury is solid going forward. Staff numbers have been reduced without impact on our operational performance and unnecessary corporate expenditure reduced or removed. The Board recognizes that the quality of the Projects we own in the USA demand that we prepare ourselves in such a way as to be ready to move quickly and efficiently for the undoubted next wave of Lithium demand and uptick in pricing. We are well set to achieve this strategy.

Drilling continued through the quarter at San Domingo with the first set of assay results highlighting the potential of the area. These results increased our knowledge of the intriguing spodumene-rich pegmatite district, and the drill hole geochemistry provides an improved understanding of the pegmatite characteristics and mineralogical zoning at San Domingo, particularly at the Midnight Owl and Bolt targets. Assay results received post period end support our view of the near surface potential spodumene lithium resource in the Central section of our San Domingo property.

Over at our lithium in clay Basin Project, we are moving closer to finalising the next drill programme, expected to commence during H1 2024.

The pace of development will continue, and we look forward to updating our shareholders as we receive exploration results.'

Contact:

Tel: +44 (0) 1624 639 396

About Bradda Head Lithium Ltd.

Bradda Head Lithium Ltd. is a North America-focused lithium development group. The Company currently has interests in a variety of projects, the most advanced of which are in Central and Western Arizona: The Basin Project (Basin East Project, and the Basin West Project) and the Wikieup Project.

The Basin East Project has an Indicated Mineral Resource of 17 Mt at an average grade of 940 ppm Li and 3.4% K for a total of 85 kt LCE and an Inferred Mineral Resource of 210 Mt at an average grade of 900 ppm Li and 2.8% K (potassium) for a total of 1.0 Mt LCE. In the rest of the Basin Project SRK has determined an Exploration Target of 250 to 830 Mt of material grading between 750 to 900 ppm Li, which is equivalent to a range of between 1 to 4 Mt contained LCE. The Group intends to continue to develop its three phase one projects in Arizona, whilst endeavouring to unlock value at its other prospective pegmatite and brine assets in Arizona, Nevada, and Pennsylvania. All Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure. Bradda Head is quoted on the AIM of the London Stock Exchange with the ticker of BHL, and on the TSX Venture Exchange with a ticker of BHLI.

Forward-Looking Statements

Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'intends to', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, following: The Company's objectives, goals, or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; delays in obtaining or failures to obtain required regulatory, governmental, environmental or other project approvals; political risks; future operating and capital costs, timelines, permit timelines, the market and future price of and demand for lithium, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices; delays in the development of projects, capital and operating costs varying significantly from estimates; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDARplus. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

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