BBX Minerals Limited: Significant near surface platinum, iridium, and rhodium mineralisation - Assay Results – TED 016 and TED 017

BBX Minerals Limited (ASX: BBX) (“BBX” or the “Company”) is pleased to report assay results for diamond drill holes TED-016 and TED-017, from its 2020-21 drilling programme (Figure 1) at the Três Estados project (Figure 2). The holes were assayed for gold, platinum, palladium, iridium, and rhodium.

TED-016 returned significant iridium and local platinum results in the upper portion of the hole, with apparent enrichment at the base of oxidation. TED-017 showed consistent coincident platinum and highly significant rhodium results in the weathered portion of the hole.

Significant results include:

TED-016

3.19m at 3.44 g/t 5E PGM[i] (2.56 g/t Pt,0.82 g/t Ir and 0.06 g/t Rh) from 14m, including:
- 1.67m at 5.71 g/t 5E PGM (4.89 g/t Pt, 0.70 g/t Ir and 0.12 g/t Rh) from 14m
10.0m at 1.18 g/t 5E PGM (0.77 g/t Pt and 0.42 g/t Ir) from 21m
2.0m at 2.56 g/t 5E PGM (2.56 g/t Pt) from 87m

Significant iridium values were reported for this hole:

9.0m at 0.73 g/t Ir from 12m
8.0m at 0.68 g/t Ir from 25m

TED-017

2.0m at 2.94 g/t 5E PGM (2.77 g/t Pt and 0.17 g/t Rh) from 2m
- 4.0m at 1.98 g/t 5E PGM (1.84 g/t Pt and 0.14 g/t Rh) from 8m
- 7.0m at 1.88 g/t 5E PGM (1.75 g/t Pt and 0.13 g/t Rh) from 16m, including:
  - 1.0m at 3.57 g/t 5E PGM (3.37 g/t Pt and 0.20 g/t Rh) from 20m

Refer to Appendix 1 for the complete results.

Figure 1 – Adelar target drilling collar summary

Map

Description automatically generated with medium confidence

Figure 2 – Três Estados project

Figure 3 – A-B cross section with TED 016 and TED 017, down hole length reported, true width not known

Drillhole Locations

Hole ID	East	North	RL	Azimuth	DIP	Depth (m)	Tenement	Method
TED-016	225003.00	9198351.00	190.00	0	-90	91.03	880.080/2008	DD
TED-017	225082.00	9198443.00	187.00	0	-90	87.05	880.080/2008	DD

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

For more information:

André Douchane

Chief Executive Officer

[email protected]

BBX Minerals Ltd (ABN: 82 089 221 634)

AUS: Brookfield Place, Level 11, 125 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820

BRA: Av Jornalista Riccardo Marinho, 360, Sala 113, Barra da Tijuca, Rio de Janeiro T +55 21 2439 5700

www.bbxminerals.com

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

Hole ID	From	To	Au (g/t)	Pd (g/t)	Pt (g/t)	Ir (g/t)	Rh (g/t)	5E PGM (g/t)	Lithology
TED-016	0.00	2.00	-	-	-	-	-	-	Soil-saprolite
2.00	4.00	-	-	-	0.52	-	0.52	Soil-saprolite
4.00	6.00	-	-	-	-	-	-	Saprolite-mafic
6.00	8.00	-	-	1.14	-	-	1.14	Saprolite-mafic
8.00	10.00	-	-	-	-	-	-	Saprolite-mafic
10.00	12.00	-	-	-	-	-	-	Saprolite-mafic
12.00	14.00	-	-	-	0.79	-	0.79	Saprolite-mafic
14.00	15.67	-	-	4.89	0.70	0.12	5.71	Saprolite-mafic
15.67	17.19	-	-	-	0.95	-	0.95	Gabbro-hematite alt
17.19	19.00	-	-	-	0.53	-	0.53	Gabbro-hematite alt
19.00	21.00	-	-	-	0.67	-	0.67	Gabbro-hematite alt
21.00	23.00	-	-	1.19	-	-	1.19	Gabbro-hematite alt
23.00	25.00	-	-	-	-	-	-	Gabbro-hematite alt
25.00	27.00	-	-	0.84	0.75	-	1.59	Gabbro-hematite alt
27.00	29.00	-	-	-	0.58	-	0.58	Gabbro-hematite alt
29.00	31.00	-	-	1.80	0.75	-	2.55	Gabbro-hematite alt
31.00	33.00	-	-	-	0.63	-	0.63	Gabbro-hematite alt
33.00	35.00	-	-	-	-	-	-	Gabbro-hematite alt
35.00	37.00	-	-	-	-	-	-	Gabbro-hematite alt
37.00	39.00	-	-	-	-	-	-	Gabbro-hematite alt
39.00	41.00	-	-	-	0.54	-	0.54	Gabbro-hematite alt
41.00	43.00	-	-	-	-	-	-	Gabbro-hematite alt
43.00	45.00	-	-	-	-	-	-	Gabbro-hematite alt
45.00	47.00	-	-	-	-	-	-	Gabbro-hematite alt
47.00	49.00	-	-	-	-	-	-	Gabbro-hematite alt
49.00	51.00	-	-	-	-	-	-	Gabbro-hematite alt
51.00	53.00	-	-	-	-	-	-	Gabbro-hematite alt
53.00	55.00	-	-	-	-	-	-	Gabbro-hematite alt
55.00	57.00	0.10	-	-	-	-	0.10	Gabbro-hematite alt
57.00	59.00	-	-	-	-	-	-	Gabbro-hematite alt
59.00	61.00	-	-	-	-	-	-	Gabbro-hematite alt
61.00	63.00	-	-	-	-	-	-	Gabbro-hematite alt
63.00	65.00	-	-	-	-	-	-	Gabbro-hematite alt
65.00	67.00	-	-	-	-	-	-	Gabbro-hematite alt
67.00	69.00	-	-	-	-	-	-	Gabbro-hematite alt
69.00	71.00	-	-	-	-	-	-	Gabbro-hematite alt
71.00	73.00	-	-	-	-	-	-	Gabbro-hematite alt
73.00	75.00	-	-	-	-	-	-	Gabbro-hematite alt
75.00	77.00	-	-	-	-	-	-	Gabbro-hematite alt
77.00	79.00	-	-	-	-	-	-	Gabbro-hematite alt
79.00	81.00	-	-	-	-	-	-	Gabbro-hematite alt
81.00	83.00	-	-	-	-	-	-	Gabbro-hematite alt
83.00	85.00	-	-	-	-	-	-	Gabbro-hematite alt
85.00	87.00	-	-	-	-	-	-	Gabbro-hematite alt
87.00	89.00	-	-	2.42	-	0.14	2.56	Gabbro-hematite alt
89.00	91.03	-	-	-	-	-	-	Gabbro-hematite alt

Hole ID	From	To	Au (g/t)	Pd (g/t)	Pt (g/t)	Ir (g/t)	Rh (g/t)	5E PGM (g/t)	Lithology
TED-017	0.00	2.00	-	-	-	-	-	-	Soil-saprolite
2.00	4.00	-	-	2.77	-	0.17	2.94	Soil-saprolite
4.00	6.00	-	-	-	0.40	-	0.40	Saprolite-mafic
6.00	8.00	-	-	-	-	-	-	Saprolite-mafic
8.00	10.00	-	-	1.49	-	0.13	1.62	Saprolite-mafic
10.00	12.00	-	-	2.19	-	0.15	2.34	Saprolite-mafic
12.00	14.00	-	-	-	-	-	-	Saprolite-mafic
14.00	16.00	-	-	-	-	-	-	Saprolite-mafic
16.00	18.00	-	-	1.62	-	0.13	1.75	Saprolite-mafic
18.00	20.00	-	-	1.35	-	0.12	1.47	Saprolite-mafic
20.00	21.00	-	-	3.37	-	0.20	3.57	Saprolite-mafic
21.00	23.00	-	-	1.46	-	0.10	1.56	Saprolite-mafic
23.00	25.00	-	-	-	-	-	-	Gabbro no alt.
25.00	27.00	-	-	-	-	-	-	Gabbro no alt.
27.00	29.00	-	-	-	-	-	-	Gabbro no alt.
29.00	31.00	-	-	-	-	-	-	Gabbro no alt.
31.00	33.00	-	-	-	-	-	-	Gabbro no alt.
33.00	35.00	-	-	-	-	-	-	Gabbro no alt.
35.00	37.00	-	-	-	-	-	-	Gabbro no alt.
37.00	39.00	-	-	-	-	-	-	Gabbro no alt.
39.00	41.00	-	-	-	-	-	-	Gabbro no alt.
41.00	43.00	-	-	-	-	-	-	Gabbro no alt.
43.00	45.00	-	-	-	-	-	-	Gabbro no alt.
45.00	47.00	0.13	-	-	-	-	0.13	Gabbro no alt.
47.00	48.62	-	-	-	-	-	-	Gabbro no alt.
48.62	49.80	-	-	-	-	-	-	Gabbro no alt.
49.80	51.00	-	-	-	-	-	-	Gabbro hem alt.
51.00	53.00	-	-	-	-	-	-	Gabbro hem alt.
53.00	55.00	-	-	-	-	-	-	Gabbro hem alt.
55.00	57.00	-	-	-	-	-	-	Gabbro hem alt.
57.00	59.00	-	-	-	-	-	-	Gabbro hem alt.
59.00	61.00	-	-	-	-	-	-	Gabbro hem alt.
61.00	63.00	-	-	-	-	-	-	Breccia chl-carb alt
63.00	65.00	-	-	-	-	0.14	0.14	Breccia-chl-carb alt
65.00	67.00	-	-	-	-	0.15	0.15	Gabbro chlorite alt.
67.00	69.00	-	-	-	-	0.28	0.28	Gabbro chlorite alt.
69.00	71.00	-	-	-	-	-	-	Gabbro chlorite alt.
71.00	73.00	-	-	-	0.33	0.23	0.56	Gabbro chlorite alt.
73.00	75.00	-	-	-	-	-	-	Gabbro chlorite alt.
75.00	77.00	-	-	-	-	-	-	Gabbro chlorite alt.
77.00	79.00	-	-	-	-	-	-	Gabbro chlorite alt.
79.00	81.00	-	-	-	-	-	-	Gabbro chlorite alt.
81.00	83.00	-	-	-	-	-	-	Gabbro chlorite alt.
83.00	85.00	-	-	-	-	0.19	0.19	Gabbro chlorite alt.
85.00	87.05	-	-	-	-	-	-	Gabbro chlorite alt.