Settlement Agreement over Fraudulent payment

Bradda Head Lithium Ltd (AIM:BHL, TSX-V:BHLI), the North America-focused lithium development group, is pleased to announce that it has come to a settlement regarding the fraudulent payment first notified on 29 March 2022 and subsequently disclosed in the audited financial statements for the years ending February 2022 and February 2023.

Bradda Head has signed a settlement agreement ("Agreement") pursuant to which it will be partially reimbursed for the fraudulent funds transfer. The partial settlement is consistent with Company's expectations at the time of initiating enforcement proceedings with gross recovery of approximately 40% of total misappropriated funds. Bradda Head confirms that the Agreement provides for no admission of liability by either party involved and the full commercial terms of the settlement are subject to strict confidentiality obligations on both parties so it will not be making any further comment on this matter.

Bradda Head is pleased that this matter is now settled and closed, with full attention focused on completing the ongoing Basin Project drilling programme, with an update provided on 17 April 2024.

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

About Bradda Head Lithium Ltd.

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.