Quarterly Activities/Appendix 5B Cash Flow Report

This report summarises the exploration and corporate activities of Bryah Resources Limited (“Bryah” or “the Company”) during the quarter ended 30^th June 2023.

HIGHLIGHTS:

Gabanintha Copper-Nickel Project (100%)

• Australian Vanadium Limited (AVL) executed a $49 million grant agreement under the Federal Government Modern Manufacturing Initiative – Manufacturing Collaboration Stream to support the Australian Vanadium Project.
• Bryah Resources signs as a collaboration participant and retains the nickel and copper rights.
• The collaboration between AVL and Bryah is focused on realising the significant strategic value of the Ni, Co and Cu within the non-magnetic tailings fraction at the Australian Vanadium Project.
• The target base metals are contained in the Indicated portion of the Mineral Resource, 16.1 Mt @ 762 ppm Nickel, 212 ppm Copper and 231 ppm Cobalt, included in the high-grade vanadium zone within the planned open pits of AVL’s vanadium project as described in its Bankable Feasibility Study.

Bryah Basin Manganese Joint Venture Project (49% JV Interest)

• Downhole drill hole Intersections at Brumby Creek West of:
  • 9m at 26.7% Mn in hole BRRC232 from 13m
  • 7m at 21.7% Mn in hole BRRC233 from 16m
  • 12m at 21.6% Mn in hole BRRC234 from 16m
• Downhole drill hole Intersections at Red Rum of:
  • 7m at 26.4% Mn in hole RRRC053 from 9m
  • 7m at 23.0% Mn in hole RRRC055 from 7m including 4m at 27.3% Mn
  • 10m at 27.2% Mn in hole RRRC064 from 14m
• RC drilling to commence at all four prospects and additional drilling at Brumby Creek after Program of Works and Heritage approvals.
• OM Holdings (ASX: OMH) is the JV partner for this project.

Lake Johnston Lithium-Nickel Project (100%)

• Mining Green Metals (MG1) currently in an intial public offering.
• A transaction deal over $2 million upon a successful IPO.
• Bryah to retain 30% interest in project, with associated benefits to shareholders.

Bryah Basin Copper-Gold Project (100%)

• Results received for 717m diamond drilling program completed in late 2022.
• Best results include:
  • 2m @ 3.88 g/t Au from 437m in BBRD072
  • 1m @ 0.35% Cu from 429m in BBRD072
• Targeting Cu-Au VMS mineralisation at 300m and 500m depth
• Deep VMS targets are a product of multiple lines of strong geological evidence.
• Downhole electromagnetic surveys to test for off-hole conductors anticipated to commence in H2 2023.
• WA State Government EIS Co-funding for $140,000¹

Corporate

• Cash position of $1.1 million as at 30th June 2023.
• Renounceable Rights Issue raising $1,147,049 (before costs). The Company issued 60,370,971 new fully paid ordinary shares and 40,247,385 new options exercisable at $0.035 each, with an expiry date of 1 December 2025.

Commenting on the June quarter CEO Ashley Jones said,

“The Manganese drill results released this quarter again continued to impress, and will be incorporated in the next resource update to increase the resource toward a critical mass needed to restart the manganese operations. We are looking forward to completing the updated mineral resource estimate and starting drilling on our additional prospect areas.

The collaboration with AVL of their $49M government grant also was a highlight of the quarter. The collaboration agreement will see further studies completed on the Nickel, Copper and Cobalt resource contained within the tailings of the vanadium project. As AVL gets closer to a Financial Investment Decision, the value for Bryah will become more apparent.

I would also like to thank our shareholders who participated in the rights issue in May. It was important to give our current share holders the chance to retain their position at a time when the small cap market has been challenging.”

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