BBX Minerals Limited: Platinum mineralisation from surface and 2m interval at 5.08 g/t 5E PGM, Assay Results - TED-013 and TED-014

BBX Minerals Limited (ASX: BBX) (“BBX” or the “Company”) is pleased to report assay results for diamond drill holes TED 013 and TED 014, from its 2020-21 drilling programme (Figure 1) at the Três Estados project (Figure 2). Assays were conducted for gold, platinum, palladium, iridium and rhodium. Precious metal mineralisation was encountered in the two holes, including an interval of 5.08 g/t 5E PGM in TED-013.

Drill hole TED-013 showed widespread platinum mineralisation and local gold, iridium and rhodium values, concentrated mainly in the upper 45m of the hole. Mineralisation remains open at depth.

Drill hole TED-014 returned significant platinum mineralisation in the upper portion of the hole within the weathered zone, plus isolated iridium values in the deeper portion of the hole.

Significant results include:

TED-013

-       9.0m at 1.59 g/t 5E PGM[i] (1.52 g/t Pt and 0.06 g/t Rh) from 18m

-       6.1m at 2.38 g/t 5E PGM (2.23 g/t Pt, 0.07 g/t Rh and 0.08g/t Au) from 30.9m

-       2.0m at 5.08 g/t 5E PGM (4.12 g/t Pt and 0.96 g/t Ir) from 43m

TED-014

-          6.0m at 2.81 g/t 5E PGM (2.81 g/t Pt) from surface

-          6.0m at 1.75 g/t 5E PGM (1.70 g/t Pt and 0.05 g/t Pd) from 10m

Refer to Appendix 1 for the complete results.

Figure 1 - Adelar target drilling collar summary

Figure 2 - Três Estados project

Figure 3 - A-B cross section with TED 013 and TED 014

Drillhole Locations

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

For more information:

Competent Person Statement

The information in this report that relates to analytical test results of gold mineralisation in the Apuí region in Brazil 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.