4 May 2017 Subject: Priority Share Offer for Bryah Resources...

4 May 2017
Subject: Priority Share Offer for Bryah Resources Limited Shares
Dear Shareholder,
I am writing to advise that as a result of your shareholding in Australian Vanadium Limited (ASX: AVL), you are invited to participate as a priority applicant in the capital raising of Bryah Resources Limited (Bryah).
As announced on 20 January 2017, AVL agreed to sell certain precious and base metal rights in the **anintha Project, as well as its 100% equity interest in the Peak Hill tenement E52/3349 to Bryah. Pursuant to the transaction AVL retained all mineral rights to vanadium, titanium, cobalt, chromium, uranium, lithium, tantalum, iron ore and manganese within the **anintha Project area and retains title as the registered holder of the licences.
Bryah is in the process of listing on the Australian Securities Exchange (ASX) by way of an initial public offering. As such, Bryah has issued a replacement prospectus dated 3 May 2017 (Prospectus) to raise a minimum of $5m and a maximum of $6m to progress Bryah’s exploration activities.
The Prospectus can be found on Bryah’s website www.bryah.com.au)

5,000,000 fully paid ordinary shares (Shares) at $0.20 per Share, together with one (1) free listed option exercisable at $0.30 on or before 31 October 2020 (Listed Options) for every two (2) Shares issued to successful applicants, have been allocated and made available to those AVL shareholders registered on 27 April 2017 (Eligible AVL Shareholders) collectively on a priority application basis. The minimum subscription is 10,000 shares ($2,000) as set out in the Prospectus (Priority Offer). Allocation of the Shares and Listed Options to the Eligible AVL Shareholders pursuant to the Priority Offer will be subject to the allocation policy set out in Section 2.6 of the Prospectus.
In order to participate in the Priority Offer, Eligible AVL Shareholders should apply at the offer website www.bryah.com.au using their Holder Identification Number (HIN) or Securityholder Reference Number (SRN) and submit the application in accordance with the instructions online prior to the 17 May 2017.
More information on Bryah can be found via their website at www.bryah.com.au and in the Prospectus. Should you have any questions regarding Bryah and the offer of shares you may contact the Broker to the issue, Argonaut Securities Pty Limited.
This letter is not intended to be an offer for subscription, invitation,