Bradda Head Lithium Ltd Announces Directorate Changes

Rhea-AI Summary

Bradda Head Lithium Limited announces CEO resignation and interim appointment of Executive Chairman. CEO Charles FitzRoy will retain share options. Company raised £6.2 million in 2021 and secured a royalty partnership. Assets have grown in size and resources. Search for new CEO begins.

Positive

• CEO resignation could bring fresh perspective and leadership to the company. Successful fundraising efforts and royalty partnership demonstrate financial stability and potential for growth. Growing assets and resources position the company well for future success.

Negative

• None.

BRITISH VIRGIN ISLANDS / ACCESSWIRE / August 29, 2023 / Bradda Head Lithium Limited (AIM:BHL)(TSXV:BHLI)(OTCQB:BHLIF), the North America-focused lithium development company, today announces that it has agreed with Charles FitzRoy that he will stand down from his role as Chief Executive Officer and Board Director, with immediate effect.

Mr FitzRoy will retain his share options outlined in the AIM announcements dated 6 April 2023.

The Chairman of the Board, Mr Ian Stalker, will assume the interim role of Executive Chairman. A search for a new CEO will begin immediately.

Mr Stalker, Interim Executive Chairman, commented: "I'd like to thank Charles for his input and commitment over the last 30 months, most notably in listing the Company in Summer 2021 where £6.2 million was raised, securing a royalty partnership later that same year, and in raising approximately £10 million of fresh equity-capital in Spring of 2022. On behalf of the Board, I wish Charles the best for the future. The Board is focused on operations and delivering results on the ground in America and will look to appoint an appropriate successor in the near future."

Charles FitzRoy, commented: " I am moving on from Bradda Head after two and half years where the Company has gone from private to listed on three exchanges in the UK, US, and Canada. Raised US$24 million for progressing Bradda's US projects, and a further US$8 million was secured via a royalty. The assets have grown in both size of landholding, knowledge of the geology and also in-the-ground resources. The last two and half years have been a very rewarding experience working closely with all members of Bradda, especially the US on the ground team and I am proud of what we have achieved. I have enjoyed my time immensely moving our assets forwards, building relationships within Arizona for the long-term, and growing the Company. BHL has some fantastic projects which strategically have little rival. The Company is extremely well positioned in the US for future success. I look forward to cheering from the side-lines."

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

Contact:

Bradda Head Lithium Limited	+44 (0) 1624 639 396
Ian Stalker, Executive Chairman Denham Eke, Finance Director
Beaumont Cornish (Nomad) James Biddle/Roland Cornish	+44 20 7220 1666
Panmure Gordon (Joint Broker)	+44 20 7886 2500
John Prior Hugh Rich
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

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 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.

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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