Government Collaboration Grant Finalised With Bryah And AVL

Bryah Resources Limited (ASX: BYH, “Bryah” or “the Company”) congratulates Australian Vanadium Limited (ASX: AVL) on finalising its agreement with the Australian Government for a $49 million Modern Manufacturing Initiative Collaboration grant for its Australian Vanadium Project. As part of the overall collaboration project, Bryah will be working with AVL to complete the feasibility studies to recover nickel, copper and cobalt from the tails stream.

HIGHLIGHTS

• Australian Vanadium Limited (AVL) secures Australian Government grant of up to $49 million to advance the Australian Vanadium Project.
• Grant includes Bryah’s collaboration on recovery of nickel, copper, and cobalt from the tails stream.
• Bryah 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 the Australian Vanadium Project as described in AVL’s Bankable Feasibility Study.

Commenting on the signing of the grant, Bryah CEO Ashley Jones said:

“We congratulate AVL on finalising this $49M grant for its Australian Vanadium Project. Part of the grant involves collaboration on realising the significant strategic value of the Ni, Co and Cu within the mine tailings at the Project. Previous metallurgical test work has shown a floatation circuit can make a sulphide concentrate of up to 6.3% base metals copper, cobalt and nickel¹. Importantly, throughout the BFS, AVL has provisioned space in the plant design for the floatation circuit. Bryah benefits from the portion of the grant to finalise studies, and benefits from the whole grant as it moves AVL closer to developing the Australian Vanadium Project.”

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