BRITISH VIRGIN ISLANDS - Bradda Head Lithium Ltd (AIM:BHL)(TSX-V:BHLI)(OTCQB:BHLIF), the North America-focused lithium development group, is pleased to announce that it has today published its unaudited financial results for the six and three-months ended 31 August 2023, and the Management's Discussion and Analysis for the same period.

Both of the above have been posted on the Company's website www.braddaheadltd.com and are also available on SEDARplus (www.sedarplus.ca/landingpage).

Financial and operational highlights

The Company's third drill programme at the lithium in clay Basin project continued during the period, with the Company finishing the fourteenth and final hole on August 10, 2023 for a total drilled meterage of 2,355.

Notable intervals from the final few sonic core holes continued 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, 81.98m @ 867ppm Li in hole BES23-06, including 20.73m @ 1,363ppm, 88.70m @ 903ppm Li in hole BES23-11, including 12.51m @ 1,427ppm, and 75.12m @ 983ppm Li in hole BES23-12, including 27.6m @ 1,339ppm.

Following the release of an updated Mineral Resource Estimate ('MRE') post period end, which included a contained LCE tonnage of over 1Mt LCE, and as per the Royalty Agreement with the Lithium Royalty Corporation ('LRC'), Bradda Head formally requested payment of US$ 2.5 million from LRC, with funds being received during October 2023.

During August 2023, the Company also mobilised a drill rig at its San Domingo pegmatite asset, with the Phase 3 drilling programme commencing later in the month.

In addition, the Company staked just under 8km2 of new lode claims at its San Domingo pegmatite project, further strengthening its land holding in the area.

Ian Stalker, Chairman of Bradda Head, commented: 'The first half of the financial year has naturally been very busy, with significant drilling programmes being undertaken at our Basin and San Domingo Properties in Arizona, USA. This phase of drilling is now completed at our Basin project. Positive assay results received from the Basin work, enabled the release of an updated MRE during September 2023, which included a contained LCE tonnage of over 1Mt LCE. This new Resource number reported resulted in the next stage of a royalty payment of US$ 2.5 million. The Company is therefore well placed financially to continue its planned work programme well into 2024. We also commenced our Phase 3 drilling programme at our San Domingo pegmatite asset during August 2023. This is a follow on from our Phase 1 and Phase 2 drill programmes, our aim being to extend the known lithium mineralization in this dstrict. Assay results have been slow to arrive due to the summer rush at the laboratory, and the Company hopes to have news on San Domingo within the next few weeks as preliminary results have started to arrive.

The pace of development will continue through the final half of the year, and we look forward to updating our shareholders as we receive the exploration results.'

Contact:

Tel: +44 (0) 1624 639 396

About Bradda Head Lithium Ltd.

Bradda Head Lithium 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 Basin Project (Basin East Project, and the Basin West Project) and the Wikieup Project.

The Basin East Project has an Indicated Mineral Resource of 17 Mt at an average grade of 940 ppm Li and 3.4% K for a total of 85 kt LCE and an Inferred Mineral Resource of 210 Mt at an average grade of 900 ppm Li and 2.8% K (potassium) for a total of 1.0 Mt LCE. In the rest of the Basin Project SRK has determined an Exploration Target of 250 to 830 Mt of material grading between 750 to 900 ppm Li, which is equivalent to a range of between 1 to 4 Mt contained LCE. 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 quoted on the AIM of the London Stock Exchange with the ticker of BHL, on the TSX Venture Exchange with a ticker of BHLI, and on the US OTCQB market with a ticker of BHLIF.

Forward-Looking Statements

This News Release includes certain 'forward-looking statements' which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'intends to', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, following: The Company's objectives, goals, or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; delays in obtaining or failures to obtain required regulatory, governmental, environmental or other project approvals; political risks; future operating and capital costs, timelines, permit timelines, the market and future price of and demand for lithium, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices; delays in the development of projects, capital and operating costs varying significantly from estimates; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDARplus. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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