Update regarding proposed Acquisition
Summary by AI BETAClose X
10 November 2026
Bradda Head Lithium Ltd
(“Bradda”, "BHL" or the "Company")
Update regarding proposed Acquisition of Uranium licences in Tanzania
Further to the announcement by the Company on 15 September 2026, Bradda Head Lithium Ltd (AIM: BHL), the North America-focused lithium development Group, provides the following update regarding its proposed purchase of six prospecting Uranium licences and supporting date and physical assets from Zeus Resources (T) Limited (“Zeus”), and its parent company, US1 Critical Minerals Ltd (ASX:USC) (“US1”).
To support the ongoing process to transfer the licenses in-country the parties have agreed to amend the original asset purchase agreement as follows:
- The initial cash completion cash payment will now fall due in two instalments of US$500,000 each, the first on closing and the second by no later than 31 March 2027 (originally US$1,000,000 was due on completion);
- The date for repayment, if required, of the US$120,000 exclusivity fee has been extended to 7 February 2027; and
- As part of the acquisition the Company will acquire from US1 all relevant data relating to the licenses, as well as certain fixed assets owned by US1 in undertaking its exploration activities.
Completion of the Transaction remains conditional upon the Mining Commission consenting to and registering the assignment of the PL Licences to BHL Tanzania, the payment of all applicable statutory fees and taxes, and compliance with all applicable regulatory requirements; the Company will notify once these conditions have been satisfied and the Completion is effective on the Completion Date. The Company and US1 are working co-operatively to close the transaction promptly.
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.
For further information please visit the Company's website: www.braddaheadltd.com.
ENDS
Contact:
|
Bradda Head Lithium Limited |
Beaumont Cornish
|
Shard Capital |
Tavistock
|
|
Company |
Nomad |
Broker |
Investor Relations |
|
Ian Stalker, Executive Chair Denham Eke, Finance Director |
James Biddle / Roland Cornish |
Damon Heath / Isabella Pierre |
Nick Elwes |
|
+44 1624 639 396 |
+44 20 7628 3396 |
+44 207 186 9927 |
+ 44 20 7920 3150 braddahead@tavistock.co.uk |
About Bradda Head Lithium Ltd.
Bradda Head Lithium Ltd is a North America-focused lithium development group. The Company's principal interests include the Basin Project, comprising Basin East and Basin West, and the San Domingo Project in Arizona.
The Basin East Project has a Measured Mineral Resource of 20 Mt at an average grade of 929 ppm Li, containing 99 kt LCE; an Indicated Mineral Resource of 122 Mt at an average grade of 860 ppm Li; and an Inferred Mineral Resource of 499 Mt at an average grade of 810 ppm Li. Together, these categories contain 2.81 Mt LCE. A plan of operations for the Basin West area was approved by the Bureau of Land Management in 2025, and the Company is progressing the associated Environmental Assessment.
The San Domingo Project comprises 248 claims covering approximately 1,850 acres, located primarily on Bureau of Land Management land, together with two Arizona State Land Department claims. To date, 108 drill holes totalling 13,089 m have been completed across three drilling campaigns. More than 1,000 pegmatites have been mapped across the project area; 18 have been identified as priority targets and six have been drill-tested. Two Notices of Intent are active, and updated drilling plans may be implemented once the required permits have been secured. The next exploration phase is intended to further delineate prospective areas and assess their potential to support a Mineral Resource Estimate prepared in accordance with NI 43-101.
The Whistlejacket Project comprises nine Arizona State Land Department Mineral Exploration Permits covering 2,010.7 hectares. The project is subject to a definitive option-to-joint-venture agreement with Kennecott Exploration Company and targets spodumene-bearing pegmatites.
Kennecott's previous exploration included 19 diamond drill holes totalling 4,188 m, all of which intersected lithium mineralisation. Reported results include 51.0 m at 1.11% Li₂O in hole WSTL0009 and 19.47 m at 1.66% Li₂O in hole WSTL0008. Surface mapping, sampling, airborne geophysics and high-resolution aerial imagery have also contributed to the geological dataset for the project.
The Group intends to continue advancing its three principal projects in Arizona while seeking to realise value from its other prospective pegmatite and brine assets in Arizona, Nevada and Pennsylvania.
Nominated Adviser Statement
Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. 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 person for providing the protections afforded to customers of Beaumont Cornish nor for advising them in relation to the transaction and arrangements described in the announcement or any matter referred to in it.
Distribution
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