Bryah Resources : Secures $140,000 Drilling Grant

ASX ANNOUNCEMENT

2ND MAY 2022

Bryah Secures $140,000 Drilling Grant

HIGHLIGHTS:

• ¾ Bryah Resources is a successful applicant in Round 25 of West Australian Government's Exploration Incentive Scheme (EIS) co-funded drilling grant program.

• ¾ WA Government to fund up to $140,000 of a two-hole, 1,400m Reverse Circulation/Diamond tail drilling program to test the Windalah copper-gold deep target.

• ¾ Bryah was one of 47 successful applicants announced on 28th April 2022, from a list of 107 applicants in this highly competitive round of the EIS program.

• ¾ 1,260m of diamond drilling was recently completed at Windalah1, testing shallower and lateral target areas, providing valuable data to assist ongoing targeting work.

• ¾ Bryah Resources was also a successful applicant in Round 24 of the EIS grant2, with $130,000 received to undertake co-funded RC drilling at the Olympus copper-gold prospect which will commence in early May 2022.

Bryah Resources Limited (ASX: BYH, "Bryah" or "the Company") is pleased to advise of its successful application in Round 25 of the Western Australian Government's Exploration Incentive Scheme (EIS). As a result, the Company will receive grant funding of up to $140,000 from the Department of Mines, Industry Regulation and Safety (DMIRS) as a contribution towards direct drilling costs at the Windalah copper-gold prospect located within the Company's Bryah Basin Project, located in Central Western Australia (Figure 2).

Commenting on the announcement by DMIRS, Bryah CEO Ashley Jones said:

"Receiving support from the WA Government through the EIS co-funded drilling program is an fantastic step forward for Bryah. Our geological team put forward an excellent EIS proposal which reflects the high level of understanding the team has accumulated on this project. We have successfully identified that we are now within the VMS system, intersecting sulphide stringer mineralisation interpreted to be distal or 'cooler' temperatures at the time of emplacement. This deep drilling program will target deeper and looking to take us nearer to the 'hotter' zone that may potentially host copper-gold mineralisation. This drilling of the Windalah Deeps, together with the upcoming Olympus drilling, gives Bryah some exciting months ahead. Included again are some core

1 See ASX announcement dated 12th April 2022 'Volcanogenic Massive Sulphide (VMS) system with copper-gold potential confirmed at Windalah'

2 See ASX announcement dated 10th November 2021 'Bryah Secures $130,000 EIS Drilling Grant'

ASX: BYH | bryah.com.au

1

photos showing features of VMS type mineralisation we have observed3 from recent drilling at Windalah. This core is spectacular to view with excellent examples of geological textures and mineralogy typical of VMS systems"

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 historical Horseshoe Lights mine, located 13 kilometres to the north of Bryah's Windalah Prospect. The exploration target at Windalah occupies the same stratigraphic position as the Horseshoe Lights deposit. The geochemical, hyperspectral and structural information from diamond core in recent drilling has allowed the Company to refine its targeting with this EIS co-funded drilling program. Bryah is also 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.

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

3Cautionary 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.

Figure 2: Bryah Basin Tenements and Regional Geology Map.

Windalah Schematic Interpretation and Targeting

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

• x 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 2 and 3).

• x 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 Windalah2F4.

4 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.

Figure 5: Windalah deep target window resolved after recent diamond drilling. View is looking at the ore stratigraphic horizon viewed from the southwest. Red lines are trace of syn-VMS vein intersection with the ore stratigraphic horizon which defines the plunging target window to depth.

Regional Geological Interpretation

Windalah lies on the southern limb of the Mars Dome, which forms part of a series of double-plunging anticlinal dome structures in the northern Bryah Basin. This is termed the Aquarius trend and consists also of the Saturn and Jupiter Domes to the north-west. These dome structures connect laterally with outcropping Narracoota Formation to the northeast through a series of possible covered dome and basin structures (Figure 6).