Company Announcements

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Bradda Head Lithium Limited

('Bradda Head' or the 'Company')

Results of UK Placing

TVR

Bradda Head Lithium Ltd (AIM:BHL, OTCQB:BHLIF), the North America-focused lithium development group, announces that further to its announcement at 07:00 (London time) on 11 April 2022 (the "Launch Announcement"), it has successfully completed and closed the UK Placing.

The UK Placing has raised, in aggregate, gross proceeds of approximately £1.96 million (approximately US$2.56 million at the Exchange Rate) through the placing of 14,532,857 Ordinary Shares to certain institutional and other investors at a price of 13.5 pence per share having received orders in excess of £6.6 million. Pursuant to the UK Placing, 14,532,857 Placing Warrants will be issued to those persons subscribing for UK Placing Shares on the terms outlined in the announcement of 11 April 2022.

In aggregate, the total amount raised from the North American Placing (as announced in the Launch Announcement) and the UK Placing is approximately £9.88 million (approximately US$12.9 million at the Exchange Rate) before expenses pursuant to which the Company will issue 73,195,560 Ordinary Shares at the Placing Price of 13.5 pence per Ordinary Share.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Launch Announcement, unless the context requires otherwise.

Certain Directors participated in the UK Placing as set out below:

Each of the above Directors participated on the same terms as all other placees.

Charles FitzRoy, CEO of Bradda Head, commented:

"The significant demand we've had for this UK and North American Placing is extremely encouraging, and demonstrates the strong support from investors in Bradda Head's operations and objectives in the US lithium sector. It also allows us to proceed swiftly with our planned exploration and development timeline in Arizona and Nevada."

"Bradda received orders of approximately US$19m and ended up taking US$12.9m, showing the significant interest in the Company, and we have now brought in North American institutional investors to our registry. The UK placing was nearly 4x over-subscribed following the securing of US$10m from North American investors."

"These funds will allow us to progress our Basin Project towards an early stage technical study and to deliver our strategy of creating low-carbon footprint lithium projects in the US for the US market."

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the 73,195,560 Placing Shares (comprising the North American Placing Shares and the UK Placing Shares) to trading on AIM. It is expected that admission will become effective and dealings in the Placing Shares commence on AIM at 8.00 a.m. on 20 April 2022 (or such later date as may be agreed between the Company, Red Cloud and the UK Brokers, but no later than 30 April 2022).

The Placing Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 390,609,439 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to the Company's Articles.

Contacts

Notes to Editors

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 17.6 Mt at an average grade of 912 ppm Li and 3.4% K for a total of 85 kt LCE and an Inferred Mineral Resource of 57.6 Mt at an average grade of 717 ppm Li and 3.3% K for a total of 220 kt LCE. In the rest of the Basin Project SRK has estimated an Exploration Target of between 300 to 1,300 Mt of material grading between 600 to 850 ppm Li which is equivalent to a range of between 1 to 6 Mt 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 US OTCQB market with a ticker of BHLIF.