Bradda Head Lithium Ltd Announces Director Dealings

Rhea-AI Summary

Bradda Head Lithium Ltd. (BHLIF) announced on April 14, 2023, that Jim Mellon, a director of the company, purchased 8,000,000 shares at 4.5 pence each. Following this transaction, he holds a total of 73,097,004 shares, representing 18.71% of the company's ordinary share capital. The company is progressing its lithium pegmatite projects, with a recent drilling program at the San Domingo site and ongoing sonic drilling at the Basin Project in Arizona. Significant developments are expected in the next 6 to 9 months. Bradda Head aims to enhance its existing NI 43-101 compliant lithium resource, currently 21.2 million tonnes at an average grade of 891 ppm Li.

Positive

• Jim Mellon purchased 8 million shares at 4.5 pence, increasing his holding to 73.1 million shares (18.71% of the company).
• Completion of the San Domingo scout drilling program, with assay results pending.
• Ongoing sonic drilling at the Basin Project aims to increase lithium resources.

Negative

• None.

Director Dealings

BRITISH VIRGIN ISLANDS / ACCESSWIRE / April 14, 2023 / Bradda Head Lithium Ltd. (AIM:BHL)(TSXV:BHLI)(OTCQB:BHLIF) ("Bradda Head" or the "Company"), the North America-focused lithium development company, announces that it was notified on 13 April 2023 that Galloway Limited, indirectly wholly owned by one of its directors, Jim Mellon, purchased shares in the Company on the open market at 4.5pence per share, as detailed below.

Name	Holding of Existing Ordinary Shares	Number of Shares Purchased	Number of Ordinary Shares held following Purchase	% of Ordinary Share Capital held following Purchase
Jim Mellon*	65,097,004 (16.67%)	8,000,000	73,097,004	18.71%
* Shares held by Galloway Limited, which is indirectly wholly owned by James Mellon and of which Denham Eke is a director.

Bradda Head continues to progress its pegmatite projects, with the recently completed San Domingo scout drilling programme (completed on 10 March 2023) pending final assay results.

As announced on 16 March 2023, sonic drilling commenced at the Company's Basin Project, in Arizona, with the intention of further adding to its existing NI 43-101 Compliant Mineral Resource of Lithium Carbonate Equivalent (LCE) tonnes.

The next 6-9 months contain several material catalysts for the Company, and Bradda Head will continue to keep the market updated on our progress and looks forward to the exciting developments ahead.

For further information please visit the Company's website: www.braddaheadltd.com.

For further information, please contact:

Bradda Head Lithium Limited	+44 (0) 1624 639 396
Charlie FitzRoy, CEO Denham Eke, Finance Director
Beaumont Cornish (Nomad) James Biddle/Roland Cornish	+44 20 7628 3396
Peterhouse (Joint Broker)	+44 207 469 0930
Charles Goodfellow Duncan Vasey Lucy Williams
Shard Capital (Joint Broker)	+44 207 186 9927
Damon Heath Isabella Pierre
Red Cloud (North American Broker)	+1 416 803 3562
Joe Fars
Tavistock (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 21.2 Mt at an average grade of 891 ppm Li and 3.5% K for a total of 100 kt LCE and an Inferred Mineral Resource of 73.3 Mt at an average grade of 694 ppm Li and 3.2% K for a total of 271 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, on the TSX Ventures exchange with a ticker of BHLI, and on the US OTCQB market with a ticker of BHLIF.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jim Mellon
2	Reason for notification
a)	Position / status	Non-Executive Deputy Chairman
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bradda Head Lithium Limited
b)	LEI	213800T879QQXKR2WN54
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of nil par value each ISIN VGG154091083
	Nature of the transaction	Share purchase
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 4.5p per ordinary share 8,000,000 Ordinary Shares
d)	Aggregated information	n/a
e)	Date of the transaction	13 April 2023
f)	Place of the transaction	LSE, AIM, XLON

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 SEDAR. 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Bradda Head Lithium Limited

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FAQ

What was the stock purchase made by Jim Mellon in Bradda Head Limited on April 13, 2023?

Jim Mellon purchased 8,000,000 shares in Bradda Head Lithium Ltd. at a price of 4.5 pence per share.

What percentage of shares does Jim Mellon hold after his recent purchase?

After the purchase, Jim Mellon holds 73,097,004 shares, which is 18.71% of Bradda Head's ordinary share capital.

What are the upcoming developments for Bradda Head Lithium Ltd.?

Bradda Head Lithium Ltd. anticipates significant developments in the next 6-9 months, including results from recent drilling programs.

What is the current NI 43-101 compliant mineral resource estimate for Bradda Head's Basin Project?

The Basin Project has an NI 43-101 compliant mineral resource of 21.2 million tonnes at an average grade of 891 ppm lithium.