Announcement PDF ASX Announcement 1 May 2024 ASX: OD6 Exploration Incentive Scheme (EIS) Co-Funded Drilling Successful Application OD6 Metals Limited (OD6 or the Company) is delighted to announce that it has been notified as a successful applicant for the Western Australian Government’s Exploration Incentive Scheme (EIS) Co-funded drilling program. Funds will be utilised on its flagship Splinter Rock clay hosted rare earth project, located northeast of Esperance in Western Australia. Highlights: • OD6 has been notified that it is a successful applicant for Round 29 of the Exploration Incentive Scheme (EIS) Co-Funded Drilling Program • The EIS is a State Government initiative that aims to encourage exploration in Western Australia for the long-term sustainability of the State’s resources sector. • The Co-funded Exploration Drilling Program is a flagship program of the EIS. It is a competitive program, open for applications twice a year, which offers up to a 50 per cent refund for innovative exploration drilling projects, capped at specific amounts. • OD6 has been offered the maximum of $180,000 under the co-funded drilling program • Drill funding is for the Tighthead and Loosehead prospective targets. • The amount is subject to signing the Funding Agreement and completion of drilling Brett Hazelden, Managing Director, commented: “OD6 is delighted to again have been selected as a successful applicant in the competitive grant process for innovative exploration drilling projects under the latest round of the Exploration Incentive Scheme (EIS) Co-funded Drilling Program. We recognise the Western Australian Government’s support for the exploration industry and in particular the efforts of the many exploration and development companies also awarded a grant that are focussed on the emerging critical minerals industry. The critical minerals industry, which includes OD6’s focus on rare earths, is at an important incubation stage with the support of State and Federal Governments being essential to make Australia a driving force in the future provision of these minerals to world. The Tighthead and Loosehead target areas are to the north-east of our main Splinter Rock discoveries and have been identified through our industry collaboration and research partnership with CSIRO.” 1 About the EIS Co-funded Drilling Program The Exploration Incentive Scheme (EIS) is a State Government initiative that aims to encourage exploration in Western Australia for the long-term sustainability of the State’s resources sector. (https://www.dmp.wa.gov.au/Geological-Survey/Exploration-Incentive-Scheme-1428.aspx) The EIS State Government initiative started in April 2009. In July 2019 the EIS was funded on an ongoing basis of $10 million per year using funds raised through Mining Tenement Rents. In July 2021 the annual allocation was raised to $12.5 million per year. The main aim is to stimulate increased private sector resource exploration, leading to new mineral and energy discoveries. New discoveries in these areas will increase knowledge of the State’s geology and resources, and help increase employment opportunities. Most of the activities in the EIS are focused in underexplored greenfields regions. The Co-funded Exploration Drilling Program directly supports explorers in Western Australia through a competitive program which offers co-funding to innovative exploration drilling project and is a flagship program of the EIS. It is a competitive program, open for applications twice a year, which offers up to a 50 per cent refund for innovative exploration drilling projects, capped at $180,000 for a multihole application. Please refer to the Department of Mines, Industry Regulation and Safety (DMIRS) media statement - Exploration Incentive Scheme continues to fuel mineral discoveries About the OD6 EIS Co-funded Drilling Program Application The OD6 drilling program proposed under the EIS application is to target the Tighthead and Loosehead prospective rare earth target areas (refer to Figure 1 & 2) which were identified by Australia’s national science agency, CSIRO, through an applied machine-learning technology and advanced 3D modelling utilising Airborne Electro-Magnetic Survey (AEM) data (Refer ASX Announcement, 15 November 2023). This program will look to confirm the clay hosted REE deposit model plus determine the extent, quality and characteristics of the targets. Funding Agreement OD6 has been offered the maximum of $180,000 under the co-founded drilling program. The amount is subject to the signing of, and abiding by the conditions set out in The Funding Agreement, which incorporates schedules and details pertaining to the proposed project. The signed, full agreement must be returned before 1 June 2024 and no EIS co-funded drilling can commence before that date. OD6 has not yet received or signed The Funding Agreement as at the date of this ASX announcement. 2 Figure 1: CSIRO modelled depth of surface cover. Orange and red areas are interpreted to indicate thicker clay zones, with blue and green areas the granites. 3 Figure 2: OD6 EIS Co-funded Drilling application proposed drilling locations shown in Red – Tighthead and Loosehead 4 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 cross-referenced 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. The information in this report relating to the Mineral Resource estimate for the Splinter Rock Project is extracted from the Company’s ASX announcements dated 18 July 2024. 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. This announcement has been authorised for release by the Board of OD6 Metals Limited 5 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: info@od6metals.com.au Phone: +61 8 6189 8515 Level 1, 50 Kings Park Road, West Perth, WA 6005 PO Box 277, North Beach, WA 6920 PO Box 2009, Esperance, WA 6450 6