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Bradda Head Lithium Ltd. Announces The Assay Results From The Next Five Drill Holes Of The Basin East Extension 2023 Drill Programme

Bradda Head Lithium Ltd. announced the assay results from the next five drill holes of the Basin East Extension (“BEE”) 2023 drill programme. The programme has continued to encounter better-than-expected thicknesses of clay confirming that lithium-bearing clays continue and thicken to the west, northwest and north into the Company’s BEE lease with probable extensions into adjoining Basin North (“BN”), and Basin West (“BW”) claims. These positive indicators are expected to lead to significant resource expansion for the Company this year. Key highlights from the recent drilling campaign include: Notable intervals from the next 5 widely spaced sonic core holes continue to be encouraging and include: 81.60m @ 944ppm Li in hole BES23-10, including 19.79m @ 1,325ppm, 82.30m @ 906ppm Li in hole Bes23-07, including 20.87m @ 1,324ppm and o 81.98m @ 867ppm Li in hole B ES23-06, including 20.73m @ 1,363ppm.

High-grade unit: The high-grade unit previously found in Basin East (“BE”) has similar grades and maintains strong continuity across all of BEE, likely extending into BN and BW. This is very positive for any future mining operation as the high-grade unit sits in the upper clay unit which forms the shallowest part of the deposit, essentially cropping out at BE. The assays also identified high levels of molybdenum associated with drill holes BES23 – 06, 07, 09, and 10 and within the high-grade unit of between 109ppm over 22.56m in hole 06 and 187ppm over 16.44m in hole 10.

To put that in context, Freeport’s Bag Bag Bag Bag Bag Bag Bagdad copper mine (c.6 miles from Basin) which extracts a healthy molybdenum by-product credit has a molybdenum Proven and Probable Reserve grade of c.200ppm. Resource Expansion: The new drill results demonstrate the potential for a substantial expansion of the lithium-bearing clay zone at the Basin Project, significantly increasing the potential resource base. The remarkable continuity of the lithium intercepts suggest the presence of extensive lithium mineralisation throughout the project area, indicating the potential for a sizeable lithium deposit.

Bradda is targeting a +1Mt LCE (lithium carbonate equivalent) Resource this year, which would trigger the next royalty payment of USD 2.5m from LRC. Further Exploration Potential: The lithium-clay mineralisation remains open to the west, and north, indicating further resource upside, as backed up by the previously reported 1Mt to 6Mt LCE JORC Exploration Target identified by SRK. Holes BES23 – 05, 06, 07, 08, 09 and 10 encountered a thicker and more consistent upper clay thickness on BEE than found at BE.

Drilling to date has demonstrated the upper clay gradually thickens to the north, northwest, and to the west towards BW, which is very positive for resource expansion potential into BW, which is very positive to resource expansion potential into BW, the total upper clay unit is 78.41m in width on average in BEE. To put that in context the average thickness of the upper clay unit at BE is 34.00m in all the previous 34 holes that intercepted upper clay in the last 3 drill programmes (2018, 2021 and 2022).