Announcement PDF ASX Announcement 4 March 2026 ASX: OD6 1 OD6 TO ACQUIRE ULTRA HIGH-GRADE, DISTRICT SCALE FLUORSPAR PROJECTS IN NEVADA, USA Exceptional grades up to 94% CaF2, historic production and multiple extensive zones for resource definition HIGHLIGHTS • District-scale, ultra high-grade fluorspar system with multiple prospects • Excellent road and rail access and proximity to established mining regions • Global critical mineral (designated critical in the U.S.), with the U.S. 100% reliant on imports • Semiconductors, Military Electronics, Aerospace & Nuclear enrichment uses Mammoth Prospect (Historic work) • High-Grade Epithermal Fluorspar (CaF2) mapped out over 9,000m2 zone, with no historical drilling completed and depth potential remaining entirely untested. • Interpreted as a steeply plunging breccia body 30 to 60m wide extending to depth • Up to 80% CaF2 in surface rock samples • Exceptionally high-grade surface and channel sampling results including: o 15.2m @ 48% CaF2 in channel sampling o 10.7m @ 45% CaF2 in channel sampling o 25.9m @ 27% CaF₂ in channel sampling o ~35.9% CaF2 average grade estimated from surface samples Other prospects (Historic work) • Additional nearby prospects at Horseshoe highlight strong potential for an extended high-grade, mineralised system, supporting potentially significant expansion of the existing resource. • Spar Mine – Significant High Grades o 6.1m @ 78% CaF2 in a channel sample o 6.1m @ 71% CaF2 in a channel sample • Big Jim Prospect – Exceptional High Grades o 90% and 94% CaF2 in 1 to 2m wide massive fluorspar vein o 74.9% CaF2 in 0.3m rock chip from altered sediments above the vein Horseshoe Prospect (Historical Production) • Historic mine produced 26,000 tonnes (29,500 short tons) of fluorspar ore from shallow pits • High grade shallowly dipping / bedding parallel fluorspar in pit wall mapped over 3,000m2 zone and estimated 30m thickness extending under shallow limestone cover • Up to 71% CaF2 in surface rock samples • 44.9% CaF2 historic estimated average grade from surface samples • Extensions concealed beneath limestone and talus cover 2 OD6 Metals Limited (OD6 or the Company) is excited to announce that it has entered into an exclusive option agreement to acquire, subject to finalisation of technical and legal due diligence, a district scale cluster of historic high-grade fluorspar (CaF2) deposits. The Project comprises 48 State of Nevada Mining Claims, located ~220 km north of Las Vegas within a highly prospective epithermal district (Quinn Fluorspar Project). About Fluorspar • Critical Mineral Listed – US, EU, Canada, Australia, Japan • Current prices around USD$450 to $650 (AUD$650 to $950) per tonne CaF2. • The US is 100% import reliant on Fluorspar with no major domestic production since 1990. • Essential role in AI semi-conductor chips, batteries, nuclear power, aerospace and defence. Favourable Deal Metrics • Low risk upfront payment of A$75k cash to acquire option, with option exercise payment of A$200k (50% cash and 50% shares (subject to shareholder approval)) upon OD6 being satisfied with due diligence and otherwise comfortable with completing. Deferred payments totalling A$3.8 million (50% cash and 50% shares) are also payable upon achievement of certain milestones including receipt of drilling approvals, drilling commencement, declaration of JORC resources, completion of a Bankable Feasibility Study, and achievement of Commercial Production on the Project. In addition, a royalty will be granted to the Sellers of 2% NSR on fluorspar minerals and 1% NSR on all other minerals extracted from the Quinn Fluorspar Project. Please refer to the Appendix of this announcement for more details of the key acquisition terms. Capital Raise • Firm commitments received for a $3.40 million two-tranche placement. The placement was supported by high net worth and institutional investors, including S3 Consortium Pty Ltd (Next Investors), as well as director participation of $115,000. Managing Director Brett Hazelden, commented: “Fluorspar is a designated U.S. Critical Mineral widely used in industrial, pharmaceutical and technology applications. It is vital to the production of advanced microprocessor chips and high-performance materials used in the aerospace, space and military/industrial sectors. The United States is currently 100% import dependent and this presents a compelling strategic opportunity as the US Government prioritises greater domestic production of critical minerals. While mining of the Quinn Fluorspar Deposits has been largely dormant for more than five decades historic reports indicate substantial surface showings of very high-grade fluorspar. The scale of surface mineralisation, exceptional grades, and lack of modern drilling provide OD6 with an opportunity to rapidly unlock value through systematic verification and drill testing. We have been presented with an outstanding opportunity with an exclusive option to acquire this project. We look forward to concluding the due diligence, and should we proceed, commencing surface work and ultimately resource definition.” 3 What is Fluorspar? Fluorspar (also known as fluorite) is a simple mineral with the formula CaF2, which contains 48.9% fluorine by weight. Fluorspar is the main mineralogical source of fluorine. High-grade fluorspar mineralisation is typically upgraded through simple processing to produce concentrates grading approximately 90–97% CaF2 typical known as Acidspar, with lower grade concentrates grading approximately 60–96% CaF2 known as Metspar Fluorspar is generally sold as a mineral product (rather than the sale of fluorine itself) and in its solid form is non- toxic and safe to handle. Strategic Rationale A Critical Mineral with Strategic US Relevance Fluorspar (CaF2) is listed on the 2025 United States Geological Survey (USGS) Critical Minerals List. It is also listed as a Critical Mineral in Australia, EU, Canada, Japan plus a number of other countries. The United States currently has no significant domestic fluorspar production and is fully import-reliant, with China producing approximately 68% of global supply (USGS, 2024). Fluorspar is essential in: • AI semi-conductor chip etching • Advanced battery technologies • Nuclear fuel processing • Defence • Aerospace • Hydrofluoric acid production • Steel and Aluminium Production • Fluorocarbon refrigerants Spot prices are currently approximately: • US$450–$650/t (A$650–$950/t) for fluorspar concentrate (Chemanalyst 2025) Fluorspar demand is expected to grow considerably in coming years (Chemanalyst, 2026). 4 Nevada – Tier 1 Mining Jurisdiction (#1 Mining Attractiveness globally) Nevada is a premier mineral exploration and mining destination and is known for production of gold, copper and industrial minerals. With well-established mining law and permitting process it is currently ranked first, globally, on the Fraser Institute’s Mining Investment Attractiveness Index (Fraser Institute, 2026). Figure 1 Quinn Fluorspar Project Location, Nevada USA 5 Portfolio Diversification This proposed acquisition represents strategic diversification of OD6’s critical minerals portfolio into U.S.-based industrial and battery-related minerals, complementing: • The Splinter Rock Rare Earth Project (WA), one of Australia’s largest clay-hosted rare earth deposits • The Gulf Creek Copper-Zinc VMS Project (NSW) OD6 now holds exposure to three globally significant critical mineral supply chains: • Rare Earth Elements (NdPr-focused magnet supply) • Copper (electrification metal) • Fluorspar (fluorine supply for AI, battery, nuclear and chemical industries) OD6 Metals, with the Splinter Rock REE Project in Western Australia, is committed to the sustainable development of critical minerals. OD6 has considerable experience and knowledge on the future development of critical minerals and mineral technologies. Overall, the option presents an attractive opportunity, underpinned by fluorspar’s status as a critical mineral to U.S. supply chains. Mammoth Fluorspar Deposit The Mammoth Fluorspar deposit consists of a 9,000 square metre zone of outcropping laminated and breccia hosted fluorspar (Figure 3). Work by Evans (1975) collected channel samples, which when combined with earlier results (e.g. Burgard, 1953, Welch, 1956a, 1956b) showed an average grade of 35.9% CaF2. The western boundary of the fluorite breccia is covered with hillside talus deposits. The western side of the deposit shows a steeply dipping structurally controlled zone adjoining a highly silicified zone and shallowly dipping limestone (Figure 2). The eastern margin is obscured by talus (slope gravel) cover. The fluorspar zone continues to the north of a small dry creek and may continue farther north. Evans interpreted the body to the be a steeply dipping tabular body. Due to lack of historic drilling, the down-dip continuation is not known. Figure 2 Cross-section of Mammoth Fluorspar after Evans 1975 6 Figure 2 Map View of Evans 1975 Geology at the Mammoth Prospect with located samples and inset table of rock-samples and channels located within the project. Horseshoe Fluorspar Deposit A small scale mining operation in the 1950s extracted 29,500 short tons (26,000 tonnes) of material at an estimated grade of 44.9% CaF2. Evans (1975) conducted a review and noted the high-grade fluorspar zone was hosted in laminated “raccoon tail” texture and was exposed over a high face of 20-30 feet . Historic sample from Horseshoe includes channel sampling results 4.6m averaging 71.88% CaF2 (Table 2). Evans interpreted the body to be a replacement zone outcropping over 3000 square metres (Figure 3) and running parallel with shallowly dipping bedding in the limestone (Figure 4). To the northeast, a highly silicified limestone obscures the projection of the fluorspar bed, and to the south it dips beneath the limestone and talus cover (Evans 1975). Shallowly drilling will confirm the continuity of this system. 7 Figure 4 Cross-section of Horseshoe Fluorspar Prospect after Evans 1975 Figure 3 Horseshoe Fluorspar map, after Evans 1975. 8 Other prospects Several other mineral occurrences are noted on the claims block (Figure 7). These include: • The Spar Mine with hydrothermal replacement in pods of high-grade and associated with a felsic dyke. Results include 6.1m channel sample assaying 78.86% CaF2 (Burgard 1957, 1962; Papke 1979, Quade 1984) • The Big Jim occurrence with vein 1.5m channel across a fluorite vein averaging 94.41% CaF2, with hanging wall sediments above the vein returning 0.3m at 74.9% CaF2 (Goulet 1945). • Rocket - reported fluorspar occurrence (Papke 1979) • Jumbo - reported fluorspar occurrence (Papke 1979) • North Horseshoe – reported fluorspar occurrence (Papke 1979) Big Jim, Rocket and Jumbo are all reported in a basal sequence beneath a silica/jasperoidal lithocap (Figure ). A lithocap is generally a silica tabular body that forms at surface in an epithermal/hot spring system from steam and acidic waters. Lithocaps are generally devoid of minerals of economic interest, yet as erosionally resistive bodies can often obscure target zones for fluorite and precious metals. Using multi-band satellite imagery the lithocap at this location covers over 70,000 square metres and is estimated at 30 to 100m thick. The base of the lithocap is a drill target for fluorspar for the Company (Figure ). Figure 6 Jumbo, Rocket and Big Jim occurrences proximal to silica lithocap 9 History of the Quinn Fluorspar Deposits Quinn Range fluorspar deposits were first discovered in the early 20th Century (Sainsbury & Kleinhampl, 1969). In the 1950s, small scale production began at the Horseshoe Mine. Other showings, and particularly the Mammoth Deposit were also discovered around this time (Figure 7). American company Union Carbide conducted trenching and trial bulk sampling, and expressed the potential for high-grade mineralization. However, metal prices at the time did not warrant further development. In 1956, a report detailed the potential near surface scale of the projects with a resource estimate (as this is not JORC compliant, it is not stated here) (Burgard, 1956). Figure 7 Quinn Fluorspar Claims, access and mineral occurrences 10 In 1969, the United States Geological Survey conducted a review of the deposits and confirmed the presence of high-grade fluorspar up to 72% in bulk samples (Sainsbury & Kleinhampl, 1969). In 1975 a consultant, David Le Count Evans, conducted a thorough review of the potential and mapped the Horseshoe and Mammoth deposits (Evans 1975). Evans conducted 5 channel samples, and located them on a map (which has subsequently been digitised by the Company) (Table 1). In addition, Evans compiled assay results from historic reports and estimated averages grades (Table 2). In 1979, the projects were reviewed and published by the Nevada Bureau of Mines and Geology, which also confirmed the presence of high-grade fluorspar and corroborated the work by Evans (Papke, 1979). The fluorspar occurs as massive minerals in veins and matrix of breccias. The highest grades at Quinn are associated with “raccoon-tail” textures, which are banded deposits of alternating massive fluorspar with calcite and silica (Evans, 1975; Papke 1979). The mineralized bodies are reported, by previous operators, as amenable to straightforward and conventional flotation metallurgical techniques with no reagents required (Burgard, 1953; Frazier, 1972). The presence of existing outcropping high-grade fluorspar provides adequate material for the Company to undertake metallurgical flotation test work. Fluorspar also fluoresces under ultraviolet light and should the Company proceed with acquisition, optical (UV) ore sorting techniques will be considered. Due Diligence and Next Steps All results reported are historic in nature and the Competent Person has not independently verified the historical data. The Company therefore acknowledges that the historical data may contain errors or omissions, and may not comply with the reporting standards and quality assurance/quality control expectations required under the JORC Code (2012). Although the Company cannot attest to the nature or accuracy of this previous work, due to the consistency and use of multiple laboratories, including presented certification, the Competent Person believes that the historical work is of an adequate standard to be considered reliable in the context in which they are presented here. As part of its due diligence program, OD6 intends to collect new samples from the surface showings to test the veracity of historic reports, including: • Conduct systematic surface rock chip and channel sampling • Verify historic assay grades • Complete detailed geological mapping and structural interpretation • Undertake soil geochemistry sampling and testing • Consider geophysical testing and interpretation • Develop drill testing programs • Commence permitting requirements for the initial drill program • Review metallurgical sampling and testing needs 11 Regional Setting, mineralization styles The Quinn Fluorspar deposits are part of the Great Basin (Basin and Range) of Nevada. The deposits are hosted in Paleozoic sediments including the Pogonip Limestone Formation and the Simonson Dolomite. Mesozoic to Cenozoic intrusions and volcanism resulted in a significant epithermal event through the district. Fluorspar (CaF2) is deposited in epithermal breccias (Mammoth), veins (Big Jim) and as replacement deposits parallel to the bedding in the limestone (Horseshoe). Figure 4 Nevada Location Map (Nevada Bureau Mines & Geology portal and Portergeo) 12 Data Compilation Tables Table 1: Located channel samples for Mammoth from Evans 1975. Channels converted from reported in feet to metres. NAD83, Zone 11. Sample Source Easting (centroid) Northing (centroid) Length Metres Description Laboratory Evans 1 Evans 1975 617886 4223715 10.7 Mammoth tunnel from portal to 35' chip samples across northeast contact zone Metallurgical Laboratories San Francisco Evans 2 Evans 1975 617850 4223752 25.9 Chip channel sample composite of scattered outcrops for 85' northface of sawmill creek Metallurgical Laboratories San Francisco Evans 3 Evans 1975 617884 4223645 10.7 Grab samples composited from No2 Trench over 35' face Metallurgical Laboratories San Francisco Evans 4 Evans 1975 617871 4223538 1.2 Chip sample above road over 4' face on silica cap Metallurgical Laboratories San Francisco Evans 5 Evans 1975 617827 4223617 2.4 Trench at west limit of Central zone from scattered solid outrops; mixture of silicified limestone, breccia and Raccoon- Tail replacement Metallurgical Laboratories San Francisco Table 2: Compiled Historic Assay Results. Samples provided with no coordinates, other than the coordinate of the occurrence (Refer Table 3). Metres converted from feet using 1ft = 0.3042 metres. Sample ID Original Source Width (m) CaF2 % Location Notes Laboratory 332V Burgard, 1956 & 1962 5.5 55.27 Mammoth Report updated with assay results certified 1962 Kidde Process Corporation, Pasadena 333V Burgard, 1956 & 1962 4.6 79 Horseshoe Report updated with assay results certified 1962 Kidde Process Corporation, Pasadena 334V Burgard, 1956 & 1962 1.5 83.02 Horseshoe Report updated with assay results certified 1962 Kidde Process Corporation, Pasadena 335V Burgard, 1956 & 1962 6.1 71.88 Spar Mine Report updated with assay results certified 1962 Kidde Process Corporation, Pasadena 336V Burgard, 1956 & 1962 6.1 78.86 Spar Mine Report updated with assay results certified 1962 Kidde Process Corporation, Pasadena WelchUnk) Welch 1953a 43.6 Mammoth Nevada Analytical Laboratory (HBM) Welch 5 Welch 1953a 37.5 Mammoth Grey dolomite Nevada Analytical Laboratory (HBM) Welch 6 Welch 1953a 44.6 Mammoth Campground area Nevada Analytical Laboratory (HBM) Welch 7 Welch 1953a 80.1 Mammoth High grade in canyon Nevada Analytical Laboratory (HBM) Welch 8 Welch 1953a 7.6 56.7 Mammoth Campground area Nevada Analytical Laboratory (HBM) 13 Sample ID Original Source Width (m) CaF2 % Location Notes Laboratory Welch 9 Welch 1953a 3.0 23.5 Mammoth Hole area Nevada Analytical Laboratory (HBM) Welch 10 Welch 1953a 33.2 Mammoth Blue quartz Nevada Analytical Laboratory (HBM) Welch 11 Welch 1953a 35.2 Mammoth Green spar Nevada Analytical Laboratory (HBM) Welch 12 Welch 1953a 22.9 23.1 Mammoth Below average Nevada Analytical Laboratory (HBM) Welch 13 Welch 1953a 23.1 Mammoth Shale spar Nevada Analytical Laboratory (HBM) Welch 14 Welch 1953a 15.2 48.5 Mammoth Above average Nevada Analytical Laboratory (HBM) Welch 15 Welch 1953a 3.7 22 Mammoth Quartz Nevada Analytical Laboratory (HBM) Welch 16 Welch 1953a 4.6 25 Mammoth Below average Nevada Analytical Laboratory (HBM) Welch 34 Welch 1953a 53.8 Mammoth Raccoon Tail Texture Nevada Analytical Laboratory (HBM) Welch 39 Welch 1953a 27.5 Mammoth Shale spar Nevada Analytical Laboratory (HBM) Welch2 6 Welch 1953b 43.2 Mammoth spar and limestone Curtis & Tompkins Ltd Welch2 7 Welch 1953b 31.8 Mammoth spar and bluestone Curtis & Tompkins Ltd Welch2 8 Welch 1953b 30.6 Mammoth Raccoon Tail Texture Curtis & Tompkins Ltd Welch2 9 Welch 1953b 31.8 Mammoth Purple low-grade Curtis & Tompkins Ltd Cuttting 436 Evans 1975 38.5 Mammoth/Horseshoe Bulk material combined from Mammoth and Horseshoe Mineral Assay Office, Mina, Nevada Eisenhauer 3 Goulet 1945 0.3 74.86 Big Jim 1 ft sample on hanging wall sediments of vein Eisenhauer Assayer Eisenhauer 4 Goulet 1945 1.8 90.84 Big Jim 6 ft sample across vein on right side of Big Cut Eisenhauer Assayer Eisenhauer 5 Goulet 1945 1.5 94.41 Big Jim 5 ft sample across vein Eisenhauer Assayer Cutting 430 Cutting 1974 38.7 Spar Composite Pit 1 Mineral Assay Office, Mina, Nevada Cutting 431 Cutting 1974 12.92 Spar Hanging wall ledge Mineral Assay Office, Mina, Nevada Cutting 432 Cutting 1974 62.88 Spar Front Wall Mineral Assay Office, Mina, Nevada Cutting 433 Cutting 1974 56.84 Spar Back Wall Mineral Assay Office, Mina, Nevada Cutting 434 Cutting 1974 63.48 Horseshoe Slickensides Mineral Assay Office, Mina, Nevada Cutting 435 Cutting 1974 70.8 Horseshoe Raccoon Tail Texture Mineral Assay Office, Mina, Nevada Evans Mammoth Average Evans 1975 35.9 Mammoth Evans calculated average grade for the exposed 9000m2 body based on channel, rock sample compilation Various Evans Horseshoe Average Evans 1975 44.5 Horseshoe Evans calculated average grade for the exposed 3000m2 body based on channel, rock sample compilation Various 14 Table 3: Fluorspar Occurrence locations (NAD83, Zone 11) Name Easting Northing Source Big Jim 616065 4221750 Quade 1984 Horseshoe 615615 4220483 Quade 1984 Jumbo 615787 4221173 Papke, 1979 Mammoth 617878 4223653 Quade 1984 Northern Horseshoe 615800 4220800 Quade 1984 Rocket 615650 4221486 Papke, 1979 Spar Mine 616590 4221840 Quade 1984 Share Placement OD6 has received firm commitments for a share placement to raise A$3.40 million via the issue of approximately 66.8 million fully paid ordinary shares (Shares) at an issue price at A$0.05 per share to sophisticated and professional investors (Placement). The Placement comprises a two-tranche placement of Shares as follows: • an issue of 49,000,000 Shares to raise A$2.45 million (before costs) issued pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1 (28,759,274 Shares) and 7.1A (20,240,726 Shares) (Tranche 1); and • a conditional placement of approximately 17.8 million Shares to raise A$890,000 (before costs) to be issued subject to the approval of the Company’s shareholders at an extraordinary general meeting of the Company’s shareholders for the purposes of ASX Listing Rules 7.1 and 10.11 (as applicable), anticipated to be held in late April 2026 (EGM) (Tranche 2). Directors of the Company have committed to subscribe for up $115,000 (approximately 2.3 million Shares) in the Placement (Director Participation). The Director Participation will form part of Tranche 2 and is subject to shareholder approval at the EGM under ASX Listing Rule 10.11. The issue price of 5.0 cents per Share represents a 7.4% discount to the last ASX closing share price of 5.4 cents on Friday, 27 February 2026, and a 4% discount to the 15 day VWAP of 5.2 cents. Settlement of Tranche 1 of the Placement is expected to take place on Thursday, 5 March 2026. Together with the Company’s existing cash reserves, funds raised under the Placement will be applied towards due diligence, transaction costs and the Completion cash consideration payable in relation to the Option Agreement for the Quinn Fluorspar Project, exploration and test work at the Company’s existing Splinter Rock and Gulf Creek Projects and general working capital. No lead manager was appointed for the Placement and the Placement was not underwritten. However, AFSL holders that assisted with the Placement will receive a fee of 6% (plus GST) on funds raised by those AFSL holders. 15 Facilitation Shares & Options In consideration for facilitation services provided by Sapphire Beginnings Pty Ltd in connection with the Option Agreement, the Company will issue to Sapphire Beginnings Pty Ltd (or its nominees): • 500,000 shares to be issued pursuant to the Company’s existing ASX Listing Rule 7.1 capacity; • subject to shareholder approval pursuant to ASX Listing Rule 7.1, 10,000,000 options exercisable at $0.10 each and with an expiration date of 30 April 2028; and • subject to the Company exercising the option in the Option Agreement to acquire the Quinn Fluorspar Project and shareholder approval pursuant to ASX Listing Rule 7.1, 1,500,000 shares. Investor Relations Services In consideration for investor relations services to be provided to the Company by S3 Consortium Pty Ltd (Next Investors), the Company will, subject to shareholder approval, issue 8,250,000 Shares to Next Investors. Director and Consultant Options Subject to shareholder approval pursuant to ASX Listing Rules 7.1 and 10.11 (as applicable), the Company also proposes to issue a total of 9.5 million options exercisable at $0.10 each and with an expiration date of 30 April 2028 to its directors and consultants (or their respective nominees) in the following proportions: • Brett Hazelden: 3 million options; • Piers Lewis: 2.5 million options; • Mitch Loan: 2 million options; • GeoSpy Pty Ltd (Darren Holden): 1 million options; and • LCP Corporate Pty Ltd: 1 million options. 16 Appendix – Terms of Option Agreement for Quinn Fluorspar Project The Company, together with wholly owned subsidiary, U.S. Fluorspar LLC (incorporated in the State of Nevada, United States) (Buyer), has entered into an option agreement (Option Agreement) with Mr Donald McDowell and Mr Thomas Lynch (Sellers), granting the Company and Buyer an option (Option) to acquire a 100% legal and beneficial interest in 48 unpatented lode mining claims covering 400 hectares in Nye County, Nevada, United States (Mining Claims) which are prospective for Fluorspar and comprise the Quinn Fluorspar Project (Project). The Sellers are not related parties of the Company nor shareholders in the Company. Key terms of the acquisition (Acquisition) are outlined below: 1. Option Exercise and Due diligence The Option may be exercised by the Buyer at any time before the earlier of: - 120 days from the date of execution of the Option Agreement (or, subject to the Company making payment of an additional A$25,000 at any time prior to expiration of the Option, 180 days); and - the Buyer or OD6 giving notice to the Buyer that it does not wish to exercise the Option, (Option Period). During the Option Period, the Sellers have granted OD6 and the Buyer (and their professional advisers) the right to undertake due diligence investigations into the Project and the Sellers for the purposes of determining whether or not to exercise the Option. 2. Consideration In consideration for the granting of the Option, the Company is required to pay a non-refundable option payment of A$75,000 (Option Payment), Subject to exercise of the Option and satisfaction (or waiver) of the conditions (see section 5 below), the consideration payable by the Company and Buyer for the Acquisition is comprised of: (i) at Completion: (A) subject to shareholder approval pursuant to ASX Listing Rule 7.1 (LR 7.1), the issue of such number of OD6 Shares to the Sellers (or its nominee) with a deemed value of A$100,000 based on the volume weighted average price of OD6 Shares traded on ASX during the 10 trading days on which sales in OD6 Shares were recorded on ASX (10 Day VWAP) ending on the date immediately prior to the date of exercise of the Option; and (Completion Consideration Shares); and (B) at the election of the Sellers: a. payment of A$100,000 by the Buyer to the Sellers in immediately available funds (Completion Cash Consideration); or b. subject to shareholder approval under ASX Listing Rule 7.1, issue such number of OD6 Shares to the Sellers (or their nominees) with a deemed value of A$100,000 at the same issue price as the Completion Consideration Shares (Additional Completion Consideration Shares), (together, Completion Consideration). (ii) post Completion: 17 (A) subject to the Buyer receiving all regulatory approvals (including the US Forest Service (USFS)) reasonably necessary for the Buyer to commence an initial drilling program on the Project (1st DA Milestone), the Sellers will receive the following consideration: a. subject to shareholder approval pursuant to LR 7.1, issue such number of OD6 Shares to the Sellers (or their nominees) with a deemed value of A$100,000 based on the 10 Day VWAP ending on the date of satisfaction of the 1st DA Milestone (1st DA Consideration Shares); and b. at the election of the Sellers: i. payment of A$100,000 by the Buyer to the Sellers in immediately available funds within 10 Business Days of satisfaction of the 1st DA Milestone (1st DA Cash Consideration); or ii. subject to shareholder approval, issue such number of OD6 Shares to the Sellers (or their nominees) with a deemed value of A$100,000 at the same issue price as the 1st DA Consideration Shares, (together, the 1st DA Consideration). (B) subject to OD6 releasing an announcement to ASX confirming the initial drilling program for the Project has commenced (2nd DA Milestone), the Sellers will receive the following consideration: a. subject to shareholder approval pursuant to LR 7.1, issue such number of OD6 Shares to the Sellers (or their nominees) with a deemed value of A$175,000 based on the 10 Day VWAP ending on the date of satisfaction of the 2nd DA Milestone (2nd DA Consideration Shares); and b. at the election of the Sellers: iii. payment of A$175,000 by the Buyer to the Sellers in immediately available funds within 10 Business Days of satisfaction of the 2nd DA Milestone (2nd DA Cash Consideration); or iv. subject to shareholder approval, issue such number of OD6 Shares to the Sellers (or their nominees) with a deemed value of A$175,000 at the same issue price as the 2nd DA Consideration Shares, (together, the 2nd DA Consideration). (C) subject to satisfaction of the Tranche 1 Milestone (see below): a. subject to shareholder approval pursuant to LR 7.1, issue such number of OD6 Shares to the Sellers (or their nominees) with a deemed value of A$250,000 based on the 10 Day VWAP ending on the date of satisfaction of the Tranche 1 Milestone (Tranche 1 Shares); and b. at the election of the Sellers: i. payment of A$250,000 by the Buyer to the Sellers in immediately available funds within 10 Business Days of the date of satisfaction of the Tranche 1 Milestone (Tranche 1 Cash Consideration); or 18 ii. subject to shareholder approval, issue such number of OD6 Shares to the Sellers (or their nominees) with a deemed value of A$250,000 at the same issue price as the Tranche 1 Shares, (Tranche 1 Consideration); (D) subject to satisfaction of the Tranche 2 Milestone (see below): a. subject to shareholder approval pursuant to LR 7.