28
February 2024
Bradda Head Lithium
Ltd
("Bradda
Head", "BHL" or the "Company")
Claim Exchange Completed at Wikieup
Bradda Head Lithium
Ltd (AIM:BHL, TSX-V:BHLI), the North America-focused
lithium development group, announces finalisation of
the land exchange over the unpatented lode claims at the Wikieup
clay project in Western Arizona as initially notified by the
Company on 1 March 2023. This exchange is mutually beneficial to
both parties avoiding litigation and disruption of exploration
activities on highly perspective clay-hosted claims. As such,
Bradda Head will retain 66 new claims equating to 1,302 acres (5.27
km2), which the Company staked in early 2019, and held
in its subsidiary Zenolith (USA) LLC. In turn, Bradda has
transferred 55 unpatented lode claims to Arizona Lithium's
subsidiary, Big Sandy Inc., to the amount of roughly 1,136 acres
(4.60 km2), per the terms of this settlement. This
transaction is now legally binding pursuant to the Company's
announcement on 1 March 2023 ('Settlement of Claim Dispute with
Arizona Lithium'), and the exchange of claims has been completed by
mutual agreement and all legal documents have been filed with both
the BLM and respective county in Arizona to cement the transaction.
This final exchange furthers Bradda's exposure
to high-quality lithium-in-clay targets (proximal at < 1.0km to
Arizona Lithium's Big Sandy clay discovery) and further enhances
the Company's portfolio of this high-quality project. The new
ground will, in due course, be explored with geological mapping and
surface sampling for opportunities, developing priority drill
targets potentially for later in year.
Ian
Stalker, Executive Chair, commented:
"We thank Arizona Lithium and the countless hours of time
undertaken to settle this matter without litigation and allow both
companies to proceed with unobstructed exploration on their
respective claim groups. This is new ground that has significant
upside potential within the large, lithium-bearing clay-rich
lacustrine basin and Bradda plans to capitalise on the finalisation
of this settlement with renewed surface
exploration."
For further information please visit
the Company's website: www.braddaheadltd.com.
Qualified Person (BHL)
Joey
Wilkins, B.Sc., P.Geo., is Chief Operating
Officer at BHL and the Qualified Person who reviewed and
approved the technical disclosures in this news release. Mr.
Wilkins is a graduate of the University of
Arizona with a B.Sc. in Geology with more than 38 years
of experience in mineral exploration and is a qualified person
under the AIM Rules and a Qualified Person as defined under
NI-43-101. Mr. Wilkins consents to the inclusion of the
technical information in this release and context in which it
appears.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART
OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH
PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE
INFORMATION.
ENDS
Contact:
Bradda Head Lithium
Limited
|
+44 (0) 1624 639 396
|
Ian Stalker, Executive Chairman
Denham Eke, Finance Director
|
|
|
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Beaumont Cornish
(Nomad)
|
+44 (0) 2076 283 396
|
James Biddle / Roland Cornish
|
|
|
|
Panmure Gordon
(Joint Broker)
|
+44 (0) 2078 862 500
|
Hugh Rich
|
|
|
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Shard Capital (Joint
Broker)
|
+44 (0) 2071 869 927
|
Damon Heath / Isabella Pierre
|
|
|
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Red Cloud (North
American Broker)
|
+1 416 803 3562
|
Joe Fars
|
|
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Tavistock (Financial
PR)
|
+ 44 20 7920 3150
|
Nick Elwes / Adam Baynes
|
braddahead@tavistock.co.uk
|
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
1.09 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 of 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 and on the TSX Venture Exchange with a
ticker of BHLI.
Forward-Looking Statements
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 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.
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.