25 August 2021

Bradda Head Holdings Ltd

("Bradda Head", "Bradda", or the "Company")

Initial Assay Results from Bradda Head's Exploration Programme and

 Replacement Rig Mobilised to Site

Bradda Head Holdings Ltd (AIM: BHL), the North America-focused lithium development group, is pleased to announce twinned hole assay results at its 100% owned Burro Creek East Project ("Burro Creek"), as well as the mobilisation of a replacement drilling rig.

Highlights:

·    Recent assay results from Bradda Head's first two twinned holes (BCE21-01 and BCE21-02) at the Burro Creek East deposit show that, compared to the 2018 drilling programme, there is potential for higher lithium grades in the Upper Clay Zone. Additionally, the Lower Clay Zone has been intercepted and found to be variably mineralised with lithium. The Lower Zone was not tested at these two locations in 2018 due to budget constraints and the absence of knowledge at the time that the Lower Zone was prospective for lithium mineralisation. It's important to note that the Lower Clay Zone in these two locations did not form part of the 2018 resource calculation.

·    Assay results from the completed portion of a second twinned hole (BCE21-02) show a 14% increase in grade in the top part of the Upper Clay Zone over the same depth profile. (Highest grade recorded 1,840 ppm over 1.2m from BCE21-02). Unfortunately, hole BCE21-02 was terminated earlier than planned due to mechanical issues with the drill rig, prior to reaching the depth of the previous 2018 RC (Reverse Core) hole.

·    This increase in grade is highly encouraging and may indicate that some mineralisation was previously missed due to zones of low recovery during the 2018 RC programme, which can be the case with RC drilling. If so, this may have positive implications for resource grades in some areas. 

·    Hole BCE21-01 also discovered previously unknown, but anticipated, lithium mineralisation within the Lower Clay Zone at Burro Creek East.  The 2018 RC hole was not drilled deep enough to test the Lower Clay Zone at this site, and as a result Lower Clay Zone material at this location was not included in the 2018 resource calculation.  The highest lithium grades recorded at hole BCE21-01 is 1,410 ppm over 1.5m in the Upper Clay Zone, and 1,020 ppm over 1.4m in the Lower Clay Zone.

·    A replacement drill rig has now been mobilised to the Burro Creek East site and commenced drilling on the 23^rd of August to accelerate the exploration programme. Two teams are working on/off shifts 24 hours a day and aim to complete the remaining holes within 30 days. See link for map of drill programmes (https://www.braddaheadltd.com/media/image-library/).

·    All holes in this programme are expected to be completed by late September and all assays should be received by the end of October. It is anticipated that the results will potentially lead to both an increase in resource size and increase in confidence classification.

·    The current inferred resource estimate at Burro Creek East covers only 2% of our 47km² sedimentary claims in Arizona. We have been granted drill permits for one portion of our Wikieup claims and will announce drilling contractor plans shortly.

·    The US drilling market is extremely tight currently as a result of the backlog of projects due to COVID-19 delays and buoyant markets for many metals and industrial minerals. The majority of core drilling firms do not have availability until November at the earliest with some busy until Summer 2023. Consequently, Bradda was extremely fortunate in being able to secure a replacement rig so quickly and minimise disruption to the drill programme. 

Assay results from our first full-core drill hole at Burro Creek East, BCE21-01, are in-line with the 2018 results in the reverse-circulation (RC) hole BCRC18-13 within the Upper Clay Zone (highest grade recorded 1,410 ppm over 1.5m from hole BCE21-01).

Hole BCE21-02 reached a depth of 36m before being terminated early due to rig issues. The 2018 RC programme at this location reached 70m before being terminated due to budget constraints. So far, over the depth twinned for the second hole, the grade is 14% higher and Bradda will re-drill this hole with the new rig to reach target depth and to test the Lower Clay Zone at this location.

The drilling campaign at Burro Creek was initially slow, with repeated mechanical failures of the rig and ancillary equipment. A different drilling contractor and rig has now been mobilised at Burro Creek to expedite the program. The mobilisation of this rig took slightly longer than usual due to the unprecedented high demand for drilling equipment across the US from gold and copper miners.

All remaining holes in the current programme are now scheduled to be completed by late September, with all assays expected to be received by the end of October.

2021 core programme, highlights so far:

Selected mineralised intercepts:

BCE21-01 - Upper Clay Zone

BCE21-02 - Top portion of Upper Clay Zone

Charles FitzRoy, CEO of Bradda Head, commented:

"These initial positive drilling results confirm our 2018 program at Burro Creek East, and we believe, have the potential to add further resources to our previously reported numbers. The presence of lithium mineralisation in the Lower Clay Zone reinforces our geological model for the Burro Creek lithium deposit and bodes well for the remaining drilling programme, the assays of which we are expecting no later than end of October.

"The increase in grade by 14% in the top part of the Upper Clay Zone in the second hole compared to the 2018 RC programme is very promising and we look forward to completing the hole and the remainder of the twinning programme.

"Bradda was extremely fortunate to be able to locate a replacement rig so quickly in the current climate in the US. Due to the US team's strong relationships within the US geological community, we are back up and drilling again with a full set of assays due before the end of October.

"We are also excited to be announcing shortly our drilling contractor for an October start at our Wikieup Project Section 12, which was enabled due to the recent trip to the US by the Bradda Management team."

For further information please visit the Company's website: www.braddaheadltd.com

Contact:

Notes to Editors

Bradda Head Holdings 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 Burro Creek project (Burro Creek East Project, and the Burro Creek West Project) and the Wikieup Project.

The Burro Creek East Project has an estimated an Inferred Mineral Resource (JORC) of 42.6 Mt of lithium bearing clays at an average grade of 818 ppm of lithium for 185,000 tonnes of lithium carbonate equivalent (LCE). The Burro Creek East Project also has additional exploration potential for extensions to the current model of between 50,000 to 300,000 tonnes of lithium carbonate equivalent.

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 listed on the AIM market of the London Stock Exchange with the ticker of BHL.