Announcement PDF ASX Announcement 23 January 2024 ASX: OD6 Quarterly Activities and Cashflow Report OD6 Metals Limited (OD6 or the Company) is pleased to present its Quarterly Activities and Cashflow Report for the period ending 31 December 2023 Highlights (including subsequent events): • Standout Grades continued to be returned for Phase 3 drilling at Splinter Rock – Extensive clay thicknesses up to 77m at high grades. – 77% of holes returned grades >1,000ppm TREO. – Clay REE confirmed across a 14km by 5km zone at Centre Prospect. – A thick high grade clay channel identified extensional to the southern end of the resource of approximately 2km by 1km and up to 69m thick, with grades of 1,400ppm to 2,200ppm TREO. • Real and substantial potential for Mineral Resource expansion based on these initial results. • Metallurgical test results confirm low hydrochloric acid (HCl) consumption – Average 16 kg HCl/t ore with multiple zones at 6-10 kg HCl/t ore – Impressive leach and recovery responses observed at reduced acid strengths – Average 61% MagREO recovery (range 43-87%) at 20g/l HCl – The positive acid consumptions and recoveries when combined with high grades, low stripping ratios, and substantial tonnages provide considerable confidence in the key economic drivers • Australia’s national science agency, CSIRO, applied machine-learning technology and advanced 3D modelling to provide an enhanced interpretation of OD6’s Tempest AEM data – The modelling compares well to existing drilling, allowing it to be trained on locally verified data to produce predictions of: – ▪ thickness of surface cover, upper clay sediment zone and lower saprolite zone. ▪ maps of granite outcrops and depths of clay basin floors ▪ targets with the thinnest cover (for low stripping ratio) ▪ prioritised target areas based on multi-factor inputs for on-going exploration work. Newly identified Prospects and expanded basin areas include: ▪ Untested northeast Splinter Rock tenements designated Tighthead, and Loosehead prospects covering over 135 km2 at >40 metres expected clay thickness ▪ Expanded Centre Prospect basin area, increasing from 136 km2 to 154 km2 at > 40 metres clay thickness with large zones of 60 to >80-metre-thick clays • Annual General Meeting (AGM) held on 23 November 2023. • Research and Development Tax Offset Funds of $962,697 received for FY23. • Cash balance at the end of the December quarter remains strong at A$2.1M. 1 Brett Hazelden, Managing Director, commented: “Delivered outcomes from exploration and advancement activities continue to meet and exceed our technical expectations. During the last quarter we reported the best grades, extents and thicknesses that an Australian clay hosted rare earths project has seen to date. This was complemented by continued strong metallurgical recoveries with low acid consumptions and an expansion of our clay basin areas, delivered in partnership with ANSTO and CSIRO. The Inside Centre Prospect has emerged as a standout REE clay basin area, significantly exceeding our expectations in the factors we believe drive an economically viable project. The Prospect will contribute significantly to an expected expansion of our current Mineral Resource Estimate, which is already the largest and highest grade in Australia and will see OD6 being potentially compared to some of the existing and future producers in China, South America and Africa. OD6 has emerged as Australia’s premier clay hosted rare earth company and is continuing to grow its resources, de-risk the metallurgical process, help westernise the supply chain and take advantage of the forecast demand surge. With the market yet to recognise the significant real and future potential value of the Company, there is an excellent opportunity for savvy investors to take full advantage. We continue to prudently manage expenditures, with our treasury position remaining strong with over $2M in the bank at the end of the year, with current expenditure focused on metallurgical test work, research and development, and preparation works for the next round of drilling.” For full details on the Mineral Resource Estimate, refer to ASX release dated 18 July 2023. OD6 confirms that it is not aware of any new information or data that materially affects the information included in those releases. All material assumptions and technical parameters underpinning those releases continues to apply and has not materially changed. Exploration and Development (including subsequent events) High Grade OD6 reported final assay results for Phase 3 drilling at Splinter Rock that detailed standout Phase 3 Drill grades, thickness and extent of mineralisation at the Centre Prospect (refer ASX release, 9 results at Prop November 2023). Highlights included: Prospect • Grades of up to 6,441 ppm Total Rare Earth Oxides (TREO) returned. • Extensive clay thicknesses up to 77m at high grades. • 77% of holes returned grades >1,000ppm TREO • Clay REE confirmed across a 14km by 5km zone at Centre Prospect. • A thick high grade clay channel identified extensional to the southern end of the resource of approximately 2km by 1km and up to 69m thick, with grades of 1,400ppm to 2,200ppm TREO. • High value Magnet Rare Earth Oxides (MREO) represent an impressive average of ~23% of TREO • Real and substantial potential for Mineral Resource expansion based on these results. • All assays using 4-acid soluble digestion (i.e. does not fusion assay for resistate non-acid soluble REE minerals) • The Phase 3 drill program received funding through the Western Australian Government’s Exploration Incentive Scheme Co-funded drilling program. 2 Significant high-grade clay-hosted rare earth intersections include (@>300ppm cutoff) • 58 metres at 2,060ppm TREO (21.8% MREO) from 21 metres (SRAC0356) • 77 metres at 1,429ppm TREO (22.5% MREO) from 18 metres (SRAC0357) • 69 metres at 1,457ppm TREO (25.6% MREO) from 15 metres (SRAC0358) • 66 metres at 1,519ppm TREO (21.0% MREO) from 21 metres (SRAC0359) • 52 metres at 1,467ppm TREO (29.6% MREO) from 21 metres (SRAC0333) • 42 metres at 1,609ppm TREO (21.4% MREO) from 18 metres (SRAC0470) • 41 metres at 1,611ppm TREO (26.4% MREO) from 6 metres (SRAC0298) • 43 metres at 1,425ppm TREO (23.4% MREO) from 12 metres (SRAC0300) • 24 metres at 2,379ppm TREO (25.5% MREO) from 18 metres (SRAC0303) • 30 metres at 1,806ppm TREO (27.5% MREO) from 42 metres (SRAC0321) • 34 meters at 1,465ppm TREO (23.2% MREO) from 36 metres (SRAC0469) • 43 meters at 1,425ppm TREO (21.8% MREO) from 12 metres (SRAC0300) • 31 meters at 1,339ppm TREO (22.6% MREO) from 21 metres (SRAC0328) • 30 meters at 1,309ppm TREO (22.5% MREO) from 21 metres (SRAC0351) • 24 meters at 1,810ppm TREO (21.5% MREO) from 48 metres (SRAC0340) • 21 meters at 1,672ppm TREO (24.0% MREO) from 15 metres (SRAC0297) Figure 1: Splinter Rock Project, Centre Prospect Drilling Results. Showing max down hole assay, overlaid on the AEM Mid time electromagnetic conductivity model. Orange and red areas are interpreted to indicate thicker clay zones, with blue, green and yellow areas the granites. Refer to ASX Announcement, 15 December 2022). 3 Figure 2: 3D view towards North. Drill locations with intercepts >1000ppm TREO. The 3D rendering shows base of modelled saprolite clay basin. Of particular note is a deep clay channel extensional to the southern end of the resource “Inside Centre” which is approximately 2,000m wide, 1,000m in length and up to 69m thick at grades of in excess of 1,400 ppm TREO (refer Figures 3 and 4) Figure 3: Splinter Rock Project, Inside Centre Prospect Drilling Results showing max down hole assay, overlaid on the AEM Mid time electromagnetic conductivity model. 4 Figure 4: 3D view towards North zoomed into the Inside Centre zone. Drill locations with intercepts >1000ppm TREO of the Inside Centre Zone. The 3D rendering shows base of modelled saprolite clay basins. Metallurgical During the quarter, OD6 reported metallurgical test results conducted by the Australian Tests Confirm Nuclear Science Organisation (ANSTO) (refer ASX release, 7 November 2023) which included Low Acid the following key outcomes: Consumption • Confirmed low hydrochloric acid (HCl) consumption • Average 16 kg HCl/t ore with multiple zones at 6-10 kg HCl/t ore • Impressive leach and recovery responses observed at reduced acid strengths • Average 61% MagREO recovery (range 43-87%) at 20g/l HCl • The positive acid consumptions and recoveries when combined with high grades, low stripping ratios, and substantial tonnages provide considerable confidence in the key economic drivers • Vendor discussions confirm viability of potential site-based chlor-alkali (acid) facility • Indicative pricing for a chlor-alkali electrolyser is approximately £3M each (A$5.7M) • Chlor-alkali plant also provides a sodium hydroxide (NaOH) product which is utilised in impurity removal and precipitation of a final Mixed Rare Earth Product (MREC/H) • A single chlor-alkali electrolyser has the potential to produce 62ktpa HCl and 69ktpa of NaOH which, at an average consumption of 16 kg HCl / tonne of ore, is sufficient to treat ~4Mtpa of REE bearing clay Further metallurgical processing optimisation work underway. Importantly, all head-assays contained in this ASX announcement are based on the 4-Acid soluble digestion method, which aligns with the reporting of geological drill assays and the Mineral Resource Estimate. Ten samples were leached at 10, 15 and 20 g/L HCl for 24 h at 30C (4 wt% solids), and results were then compared to Phase 1 tests at 25 and 100 g/L HCl for 6 h at 30C (2 wt% solids). 5 The results indicate that: • Extractions at 15 to 20 g/L HCl appear to be a balance point on recovery, acid strength and acid consumption. • Each prospect and mineralisation type has slightly different optimal acid conditions • There is a notable outlier in Sample SR149A which has both high recovery and high acid consumption. • Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy) have very similar recoveries for each test which is reflected in overall Magnetic Rare Earth (MagRE) Percent Recovery Summary of results by Prospect at 20g/L HCl: • Flanker – Acid consumption is 6 kg/t with a 65% MagRE Recovery. • Centre – Acid consumption ranging from 6 - 41 kg/t with a 43 - 56% MagRE Recovery. • Scrum – Acid consumption is 19 kg/t with a 55% MagRE Recovery. • Prop – Acid consumption ranging from 6 - 63 kg/t with a 49 - 87% MagRE Recovery. Average overall acid consumption was 16 kg/t (excl. SR149A which had high acid use most likely due to high surficial carbonates) with a 61% MagRE Recovery at 20g/l HCl For completeness OD6 undertook sulfuric acid leach tests on four samples from the Phase 1 program utilising 25 and 50 g/L H2SO4 with a residence time of 24 h at 30 C (4 wt% solids). The higher acid strength (50 g/L H2SO4) resulted in increased RE extractions in 3 of the 4 samples. The 50 g/L H2SO4 test showed MagRE recoveries comparable to that obtained in 25 g/L HCl in only 6 hours. However, the H2SO4 leach results had increased gangue concentrations, and higher calculated acid consumptions. Hydrochloric acid remains the preferred lixiviant, given that an increased sulphuric acid strength and longer leach duration is required to achieve an equivalent extraction. Use of sulphuric acid should not however be discounted at this stage of the metallurgical testing program. State of the Art OD6 provided an update on CSIRO-led research and development outcomes at the Splinter CSIRO Rock Rare Earth Elements (REE) Project (refer ASX release, 15 November 2023), with Modelling highlights including: Expands REE Basins • An expansion of clay basin areas at Splinter Rock delivered through new Airborne Electromagnetic (AEM) modelling • Australia’s national science agency, CSIRO, applied machine-learning technology and advanced 3D modelling to provide an enhanced interpretation of OD6’s Tempest AEM data • The modelling compared well to existing drilling, allowing it to be trained on locally verified data to produce predictions of: – thickness of surface cover, upper clay sediment zone and lower saprolite zone. – maps of granite outcrops and depths of clay basin floors. – targets with the thinnest cover (for low stripping ratio). 6 – prioritised target areas based on multi-factor inputs for on-going exploration work. • Newly identified Prospects and expanded basin areas included: • Untested northeast Splinter Rock tenements designated Tighthead, and Loosehead prospects covering over 135 km2 at > 40 metres expected clay thickness • Expanded Centre Prospect basin area, increasing from 136 km2 to 154 km2 at > 40 metres clay thickness with large zones of 60 to >80-metrethick clays • Better modelling of the “Inside Centre” area where the Company reported its best intersections to date with a zone >1000 x 2000 m and >60 m thick and grades 1400 ppm to >2000 ppm TREO (refer release dated 9 November 2023). Figure 5 details the updated clay basin prospect areas, inclusive of modelled depth and granite locations, with Figure 6 identifying depth of cover above the clay horizons inclusive of outcropping granites. Figure 5: CSIRO modelled depth of surface cover. Orange and red areas are interpreted to indicate thicker clay zones, with blue and green areas the granites. 7 Figure 6: CSIRO modelled depth of surface cover. Brown areas are interpreted thicker sand dune, with yellow areas sands/silts/clays and green areas outcropping granites. Figure 7: CSIRO produced schematic of Splinter Rock Clay Basins. 8 Phase 2 ANSTO Metallurgical Tests Commenced Phase 2 metallurgical testing progressed at ANSTO during the quarter to: • Develop further understanding of the leachability of rare earths under lower acid or desorption conditions over a longer leach time frame • Understand leach performance using saline water vs fresh water. • Test leach performance of the coarse and fines fractions following screening at 75µm • Develop a standard test procedure for the screening of a large number of test samples for potential RE recovery A new batch of 62 metallurgical samples were sent to ANSTO for initial acid leach tests. These samples have been selected from a wide variety of different clays, locations and depths to continue to build a geo-metallurgical understanding of recovery across the four main prospects at Splinter Rock. In addition, 71 additional metallurgical samples were also selected from the Phase 3 Splinter Rock drilling program and sent to ANSTO for initial acid leach tests. From Grass Patch, 10 metallurgical samples were sent to ANSTO for initial acid leach tests. QA/QC reviews with ALS and ANSTO have results delayed due to a number of samples needing to be re-assayed. Mineralogy Mineralogy characterisation and testing is currently being conducted in conjunction with characterisation CSIRO, ANSTO and Murdoch University. The REE and clay host mineralogy is important for in depth understanding of why higher recoveries can be achieved in particular Prospect areas. Geometallurgy (GeoMet) refers to the practice of combining variables such as geology, grade, volume, geochemistry, mineralogy and metallurgy to combine economic models with exploration. The aim is to optimise the economics of a deposit to facilitate the identification and ranking of preferred initial mining areas across clay hosted prospects. As Splinter Rock’s GeoMet relationships are systemically mapped, clay areas containing the highest grades and metallurgical recoveries of rare earth elements can be identified and targeted for advanced stage work streams. Various mineralogy testing methods are being undertaken, which include quantitative XRD, SEM/EDS and QEMSCAN. Determining the mineralogical composition of the high-grade areas is key to designing an economically successful processing facility. Heritage Heritage Surveys were commenced for the proposed Phase 4 drilling program at Splinter Surveys Rock with the Ngadju Native Title Aboriginal Corporation. The new heritage surveys Progressing at included close spaced (200m) drill lines and further regional target reconnaissance. Splinter Rock Environmental Spring environmental surveys have been completed at Splinter Rock to enable infill drilling Surveys and new drill tracks for regional drilling to be undertaken. This data is provided to the Completed at Department of Mines (DEMIRS) to assist in timely approvals for permits of work (PoW). Splinter Rock 9 Corporate R&D Tax Offset OD6 submitted a R&D Tax Incentive claim for eligible Australian R&D activities at the Splinter Rock and Grass Patch clay hosted rare earth projects, with $962,697 returned for the 2023 Financial year. The Company expects to continue R&D works and anticipates being able to claim future tax offsets over the coming years. OD6 is fully committed to R&D as it continues to develop critical minerals technologies through relationships with the CSIRO, Murdoch University, ANSTO, private research providers and internally. Annual General OD6 Metals held its Annual General Meeting (AGM) on 23 November 2023. All resolutions Meeting were passed. Please refer to the following announcements: ESG Foundation Initiatives Continue • Chairmans address and AGM Presentation (ASX release, 23 November 2023). • Results of Meeting (ASX release, 23 November 2023). • Notice of Meeting (ASX release, 13 October 2023). • Updated Constitution (ASX release, 23 November 2023). OD6 recognises that implementing environmental, social and governance (ESG) practices in the resources sector plays an important role in generating long-term sustainable outcomes. The Company was pleased to include an inaugural ESG section in its 2022/23 Annual Report (refer ASX release, 6 September 2023). ANU REE Conference OD6 presented at the Australian National University’s Rare Earth Element Conference held in Canberra. The conference was an opportunity to meet various participants in the Rare Earth sector and also provide a technical presentation on the OD6 Splinter Rock Project (refer ASX release, 16 November 2023). Cash Holdings The Company had A$2.1M million of cash on hand at 31 December 2023 Securities on Issue Fully Paid Ordinary Shares 102,450,745 Performance rights OPTIONS 3,800,000 33,750,371 Fully paid ordinary shares include 47,435,249 shares escrowed until 22 June 2024 The 2,500,000 Performance Rights on issue are classified as restricted securities by the ASX and are to be held in escrow until 22 June 2024. During the quarter the Company issued 1,000,000 performance right and 1,900,000 options to the Directors. Further 300,000 performance rights and 750,000 options to employees and contractors Options on issue comprise: • 22,050,371 Founder Options exercisable at A$0.30 on or before 31 October 2025. • 3,850,000 Incentive Options exercisable at A$0.30 on or before 31 March 2026. • 300,000 Contractor Options exercisable at A$0.30 on or before 13 April 2025. • 1,500,000 Performance Options exercisable at A$0.50 on or before 31 March 2026. • 2,500,000 Lead Manager Options exercisable at A$0.30 on or before 20 June 2025. 10 • 900,000 Performance Options exercisable at A$0.30 on or before 09 October 2026 • 2,650,000 Incentive Options exercisable at A$0.27 on or before 08 December 2026. As at 31 December 2023 none of the performance milestones of the Performance Rights had been met, nor had any shares been issued on conversion of Performance Rights. A summary of the performance milestones is outlined below: Borrowings CLASS NUMBER MILESTONE EXPIRY DATE A 1,000,000 The Company announcing to ASX a JORC Code compliant inferred (or greater) Mineral Resource (as defined in the JORC Code) of not less than 250,000,000 tonnes (of which at least 100,000,000 tonnes must be an indicated Mineral Resource), grading a minimum of 800 ppm total rare earth oxides (TREO). 22 June 2024 B 1,500,000 Upon completion of a scoping study on a Project (prepared in accordance with the guidelines prescribed by the JORC Code and independently verified by an independent competent person under the JORC Code) that demonstrates an internal rate of return (IRR) of more than 20%. 22 June 2025 C 1,000,000 The Company announcing to ASX a JORC Code Compliant inferred (or greater) Mineral Resource (as defined in the JORC Code) of not less than 1,000,000,000 tonnes (of which at least 400,000,000 tonnes must be an indicated Mineral Resource), grading a minimum of 1000 ppm total rare earth oxides (TREO). 08 December 2026 D 300,000 The rights vest on the Company announcing to ASX the results of a Scoping Study (as defined in the JORC Code) showing the potential to generate an internal rate of return (IRR) of more than 20% using consensus prices and Board approved assumptions. 08 December 2026 The Company has no borrowings 11 Expenditure Comparison to In accordance with Listing Rule 5.3.4, as the December 2023 quarter was in a period covered IPO Prospectus by a “Use of Funds” statement in the IPO Prospectus, below is a comparison of the Company’s actual expenditure to 31 December 2023 compared with the “Use of Funds” statement. Use of Funds EXPENDITURE ALLOCATED ACTUAL EXPENDITURE TO DATE UNDER PROSPECTUS - 30 September 2023 2 YEAR PERIOD (A$’000) (A$’000) Exploration on the Splinter Rock Project 5,802 3,810 Exploration on the Grass Patch Project 1,510 1,533 Expenses of the Offer 656 603 General working capital1 1,304 2,201 Totals 9,272 8,147 USE OF FUNDS UNDER PROSPECTUS under DATED 10 MAY 2022 Prospectus 1 Includes purchases of Property, Plant and Equipment Exploration Exploration and Evaluation expenditure during the quarter was A$570k. Expenditure Expenditure included assays, geophysics survey interpretation, site visits, heritage surveys, track upgrades, ANSTO metallurgical testing, mineralogy, CSIRO research, tenements rental fees and geological investigation Related Party During the quarter ended 31 December 2023, payments to related parties amounted to Transactions A$135k, comprising of Managing Director Fees, Non-Executive Director fees, Superannuation and geological consulting fees to GeoSpy Pty Ltd, which is an entity controlled by Darren Holden. 12 Mineral Interests Exploration Schedule of Exploration Licenses (E) held end of December 2023 Quarter Tenements PROJECT TENEMENT NUMBER HOLDER STATUS GRANTED OWNERSHIP Splinter Rock E 63/2115 Odette Six Pty Ltd Granted 4 Feb 22 100% Splinter Rock E 69/3904 Odette Six Pty Ltd Granted 15 Feb 22 100% Splinter Rock E 69/3905 Odette Six Pty Ltd Granted 15 Feb 22 100% Splinter Rock E 69/3907 Odette Six Pty Ltd Granted 14 Feb 22 100% Splinter Rock E 69/3893 Odette Six Pty Ltd Granted 20 Jan 22 100% Splinter Rock E 69/3894 Odette Six Pty Ltd Granted 20 Jan 22 100% Grass Patch E 63/2185 Grass Patch Metals Pty Ltd Granted 1 Mar 22 100% Grass Patch E 63/2151 Grass Patch Metals Pty Ltd Granted 2 Dec 21 100% Grass Patch E 63/2152 Grass Patch Metals Pty Ltd Granted 3 Dec 21 100% Grass Patch E 63/2154 Grass Patch Metals Pty Ltd Granted 6 Dec 21 100% Grass Patch E 63/2153 Grass Patch Metals Pty Ltd Application - 100% Grass Patch E 74/693 Grass Patch Metals Pty Ltd Application - 100% Figure 8: OD6 Granted and Application exploration Licenses in the Esperance region of Western Australia 13 Quarterly ASX Announcements (including Subsequent Events) This Quarterly Activities Report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (2012 JORC Code). Further details (including 2012 JORC Code reporting tables where applicable) of exploration results referred to in this Quarterly Activities Report can be found in the following announcements lodged on the ASX: 08/12/2023 Notification regarding unquoted securities – OD6 08/12/2023 Change of Directors Interest 23/11/2023 Constitution 23/11/2023 Results of Meeting 23/11/2023 Chairmans Address and AGM Presentation 20/11/2023 Research and Development Tax Offset Funs Received 16/11/2023 Investor Presentation – ANU REE Conference 15/11/2023 Modelling Reveals Major Extensions to REE Basins 09/11/2023 Standout Grades and Thickness Confirmed at Centre Prospect 07/11/2023 Metallurgical Test Results Confirm Low Acid Consumption These announcements are available for viewing on the Company’s website https://www.od6metals.com.au/. OD6 confirms that it is not aware of any new information or data that materially affects the information included in any original ASX announcement. The information in this report relating to the Mineral Resource estimate for the Splinter Rock Project is extracted from the Company’s ASX announcement dated 18 July 2023. OD6 confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply. Forward Looking Statements Certain information in this document refers to the intentions of OD6 Metals, however these are not intended to be forecasts, forward looking statements, or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to OD6 Metals projects are forward looking statements and can generally be identified by the use of words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. There can be no assurance that the OD6 Metals plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause OD6 Metals actual results, performance, or achievements to differ from those referred to in this document. While the information contained in this document has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum extent permitted by law, OD6 Metals and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence). No new information Except where explicitly stated, this announcement contains references to prior exploration results, all of which have been crossreferenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements. This announcement has been authorised for release by the Board of OD6 Metals Ltd 14 About OD6 Metals OD6 Metals is an Australian public company pursuing exploration and development opportunities within the critical mineral sector. The Company has successfully identified clay hosted rare earths at its 100% owned Splinter Rock and Grass Patch Projects, which are located in the Esperance-Goldfields region of Western Australia - about 30 to 150km northeast of the major port and town of Esperance. Drilling and geological analysis at its flagship Splinter Rock has shown widespread, thick, high-grade clay hosted REE deposits that extend over hundreds of square kilometres. Metallurgical testing using hydrochloric acid to leach the rare earths have resulted in positive REE recoveries with optimisation ongoing. The Company aims to delineate and define economic resources and reserves of Rare Earth Elements (REE), in particular Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb), which can be developed into a future revenue generating mine. Clay REE deposits are currently economically extracted in China, which is the dominant world producer of REEs. REE are becoming increasingly important in the global economy, with uses including advanced electronics and permanent magnets in electric motors. As an example, a neodymium magnet used in a wind turbine or electric vehicle motor is 18 times stronger than a standard ferrite magnet significantly increasing energy use efficiency. As part of the exploration process the Company has entered into heritage agreements with Esperance Tjaltrjraak Native Title Aboriginal Corporation and the Ngadju Native Title Aboriginal Corporation that serves to both enable exploration and protect important cultural sites on Country. Corporate Directory Managing Director Mr Brett Hazelden Non-Executive Chairman Dr Darren Holden Non-Executive Director Mr Piers Lewis Non-Executive Director Dr Mitch Loan Financial Controller/ Joint Company Secretary Mr Troy Cavanagh Joint Company Secretary Mr Joel Ives Exploration Manager Tim Jones Contact OD6 Metals Ltd ACN 654 839 602 www.od6metals.com.au Mail to: