Bryah Resources : Maiden Bryah Basin Manganese Mineral Resource

For personal use only

ASX ANNOUNCEMENT

3RD MARCH 2022

Maiden Bryah Basin Manganese Mineral Resource

HIGHLIGHTS

• Total Inferred and Indicated JORC 2012 compliant Mineral Resource 1.84 Million tonnes (MT) at 21% Mn
• Mineral Resource includes 0.65 MT at 20% Mn on a granted Mining Lease M52/806
• Indicated Mineral Resources of 1.08 MT at 22% Mn and Inferred Mineral Resources of 0.75MT at 20% Mn
• Maiden Mineral Resources estimated over Area 74, Brumby Creek, Black Hill and Horseshoe areas, over 6 prospects in total
• Manganese defined as a critical mineral by many countries, including the United States for its use in steelmaking and batteries1

MANGANESE EXPLORATION - WHAT'S COMING UP?

• Mining Licence applications to be lodged to support future feedstocks for mining project based on granted mining lease at Horseshoe Manganese M52/806
• Gradient Array Induced Polarisation (GAIP) surveys covering prospective areas
• Drilling in March to follow-up Brumby West deposit extension and further 2021 GAIP targets
• Ore sorting of bulk samples by Steinert

Bryah Resources Limited (ASX: BYH, "Bryah" or "the Company") is pleased to announce its maiden Manganese JORC Resource. Bryah owns 49% of the manganese rights in a Joint Venture with OM (Manganese) Ltd, ("OMM") a wholly owned subsidiary of OM Holdings Limited (ASX: OMH).

Commenting on the maiden JORC Resource, Bryah CEO Ashley Jones said:

"We are very pleased to announce the Maiden Mineral Resource for the Bryah Basin JV Project with OM Manganese. The JV with OMM has allowed us to drill these targets out and convert them to Indicated and Inferred Mineral Resources. These Mineral Resources will now underpin mining licence applications in the Brumby Creek and Black Hill locations. The Horseshoe South area Mineral Resources are already located on a granted mining lease and this will take us one step closer to where we want to be - producing manganese.

1 Source: https://www.usgs.gov/news/national-news-release/us-geological-survey-releases-2022-list-critical-minerals

ASX: BYH | bryah.com.au

1

For personal use only

The manganese cut off parameters at 15% are high relative to many of our peers, which we anticipate will result in potentially higher yields to make a saleable manganese product. Having historical production from the area gives us confidence in progressing towards a production outcome.

The success of the GAIP geophysics in the last year and the planned new GAIP surveys will allow us to rapidly test the potential for further targets along the prospective Horseshoe Formation. The surveys will be followed up with RC drilling later this year."

Table 1 2012 JORC Manganese Mineral Resources at 15% Mn Cut-off

Prospect	Category	Kt*	Mn %	Fe %
Area 74		239	23.6	21.4
Brumby Creek East and		525	21.2	19.1
Brumby Creek West
Horseshoe South and	Indicated
Horseshoe South	295	20.5	23.6
Extended
Black Hill		24	29.7	20.2
Total Indicated		1,083	21.7	20.9
Brumby Creek East and		403	20.3	21.8
Brumby Creek West
Horseshoe South and	Inferred
Horseshoe South	351	19.5	29.9
Extended
Total Inferred		753	19.9	25.6
Total Mineral Resource	1,836	21.0	22.8

* Totals may not add up due to rounding. kT = 1,000 Tonnes

Manganese Mineralisation Style

The mode of mineralisation for manganese in the Horseshoe Ranges is in-situ and detrital manganese formation within shale and siltstone, with rare thin Banded Iron Formation bands. The mineralisation is present on the flanks of iron stone ridges, typically at the change of slope zone between the ridges and the plains to the south and west of the folded Horseshoe Range. This change of slope is the zone of transition to softer, less resistant (to weathering) shale units as opposed to iron siltstones higher on the ridge.

Supergene regolith processes are the likely formation mechanism for all manganese mineralisation in this area. Elemental segregation within the weathering profile has resulted in manganese oxide forming within the saprolite profile of the shales and siltstones of the Horseshoe Formation as sub-horizontal to gently dipping lenticular bodies. This style of mineralisation is preserved at:

• Eastern area of Brumby Creek East
• Northern portion of Brumby Creek West
• Horseshoe Extensions

ASX: BYH | bryah.com.au

2

personal use only
For	Figure 1 Location of Mn JV prospects with Mineral Resource on Aeromagnetics TMI RTP image

The other style of manganese deposit is formed by erosion and re-working of manganese material down- slope to form detrital deposits in channels. This is the style of mineralisation at:

• South end of Brumby Creek West
• West side of Brumby Creek East
• Area 74

ASX: BYH | bryah.com.au

3

For personal use only

• Black Hill Mesa
• Horseshoe South Channel

The manganese mineralisation forms conductive bodies, and as such geophysical GAIP surveys are being applied to generate targets for drill testing for buried manganese lenses. Ongoing exploration using geophysics and drilling is expected to find additional manganese deposits, with an aggressive exploration program planned for 2022.

Manganese Models

The manganese mineralisation has been geologically modelled using Leapfrog Geo™ software. Figures 2 to 4 below show the geological models, with topography coloured by elevation and drilling data used for the Mineral Resource estimates. Geological models have been created with other input data such as geological mapping and geochemical discrimination of lithological domains.

Figure 2 Brumby Creek and Area 74 Geology Models with terrain coloured by elevation, looking northeast

ASX: BYH | bryah.com.au

4

For personal use only

Figure 3 Black Hill Geology Model with terrain coloured by elevation, looking west

Figure 4 Horseshoe Area Geology Model with terrain coloured by elevation, looking east

Drill results received in early 2022 were included in the Mineral Resource Estimate for Brumby Creek. Reverse Circulation (RC) drilling in September 2021 identified an extension of the manganese mineralisation at the

ASX: BYH | bryah.com.au

5