BBX Minerals Limited: Continuous Mineralisation Open at Depth; Assay results - TED 003

BBX Minerals Limited (ASX:BBX) (“BBX” or the “Company”) is pleased to report assay results for diamond drill hole TED-003 (Figure 1), from its 2020-2021 drilling programme (Figure 2) at the Tabocal prospect, Três Estados project (Figure 3). Assays were conducted for gold, platinum, palladium, iridium and rhodium.

Platinum mineralisation was intersected over almost the entire length of the hole and a zone of continuous iridium mineralisation was reported from 40 m to the end of the hole at 55.02 m. The strong mineralisation encountered in TED-003, which remains open at depth, continues to enhance the potential of the Tabocal prospect, 2.5 km east of Adelar, the focus of the 2017 and 2020-21 drill programmes.

Significant results include:

TED 003

-          2m at 1.30 g/t 5E PGM[i] (1.30 g/t Pt) from 9m

-          17m at 1.32 g/t 5E PGM (0.04 g/t Au, 1.23 g/t Pt, 0.02 g/t Ir and 0.03 g/t Rh) from 15m

-          2m at 1.39 g/t 5E PGM (1.39 g/t Pt) from 36m

-          1.5m at 1.77 g/t 5E PGM (1.24 g/t Pt and 0.53 g/t Ir) from 44m

-          6.02m at 0.93 g/t 5E PGM (0.30 g/t Pt and 0.63 g/t Ir) from 49m

Refer to Appendix 1 for the complete results.

Figure 1 - A-B cross section with TED-003, down hole length reported, true width not known

Figure 2 - Tabocal target drilling collar summary

Figure 3 - Três Estados project

Drillhole Locations

This announcement has been authorised for release by the Board of Directors.

For more information:

André Douchane

Chief Executive Officer

[email protected]

Competent Person Statement

The information in this report that relates to exploration results is based on information compiled by Mr. Antonio de Castro, BSc (Hons), MAusIMM, CREA, who acts as BBX´s Senior Consulting Geologist through the consultancy firm, ADC Geologia Ltda. Mr. de Castro has sufficient experience which is relevant to the type of deposit under consideration and to the reporting of exploration results and analytical and metallurgical test work to qualify as a competent person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Castro consents to the report being issued in the form and context in which it appears.

CREA/RJ:02526-6D

AusIMM:230624

About BBX Minerals Ltd

BBX Minerals Limited is a mineral exploration and technology company listed on the Australian Securities Exchange. Its major focus is Brazil, mainly in the southern Amazon, a region BBX believes is vastly underexplored with high potential for the discovery of world class gold and precious metal deposits.

BBX’s key assets are the Três Estados and Ema Gold Projects in the Apuí region, Amazonas State. The company has 270.5km² of exploration tenements within the Colider Group, a prospective geological environment for gold, PGM and base metal deposits.

Appendix 1: Assay results

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[i] 5E PGM refers to the sum of platinum (Pt), palladium (Pd), iridium (Ir), rhodium (Rh) and gold (Au) expressed in units of g/t.