Quarterly Activities/Appendix 5B Cash Flow Report

Odessa Minerals Limited (ASX:ODE) (“Odessa” or the “Company”) is pleased to report on its activities for the quarter ending 30 September 2023 (the “Quarter”) and highlight planned activities ahead of the upcoming field season.

HIGHLIGHTS:

• Exploration for the quarter focused on Odessa’s Yinnetharra Lockier Range tenements
• Over 56,000 metres strike-length of pegmatites¹ now mapped by geology crews
• Over 10,400 metres strike-length of previously undiscovered pegmatites mapped at the new ‘Central Pegmatite Field’ and Mt Yaragner
• 30 metre-wide pegmatites mapped
• The Central Pegmatite Field is coincident with a 1.5km x 1km Li-Ta-Be-Cs soil anomaly
• 1,900 soil samples collected from current exploration program are pending results
• 187 rock samples completed are also pending results
• Robinsons Bore samples have been received by the laboratory with results pending
• Mapping and rock chip sampling of pegmatite targets continues

“The quarter saw a lot of on-ground exploration at our Yinnetharra Lockier Range Project. Over 56kms of outcropping pegmatites have now been mapped, and on receipt of all the assays coming through in the coming months from the labs we will be defining LCT targets for drilling. Drilling these targets as soon as possible is Odessa’s objective.”

Lithium Pegmatite Targets

Pegmatites at the Yinnetharra Lockier Range project have surpassed 56,000 metres of total strike-length mapped, with an additional 10,400 metres strike-length of previously undiscovered pegmatites now mapped and sampled at the Central Pegmatite Field and Mt Yaragner.

A total of 187 rock and 1,900 soil samples have been collected to date and have either been delivered to the labs or are on route to the labs from the field as at the date of this report.

The Central Pegmatite Field is located 6 km from the margin of the lithium-caesium-tantalum (“LCT”) fertile Thirty-Three Supersuite granite and is host to multiple, stacked, 30m-wide outcropping pegmatites. A coincident 1.5 km x 1 km Li-Ta-Be-Cs soil anomaly is present across the Central Pegmatite Field.

The newly completed soil sampling program infilled the Company’s current Lithium-in-soil anomalies to 100m x 100m spacing and has provided higher definition data on potential drill targets. Rock chip samples have been collected from the outcropping pegmatites. Combined, this sampling program aims to delineate fertile pegmatites and generate drill ready LCT pegmatite targets.

The on-ground team are continuing to systematically map and sample the >30,000m strike length of pegmatites at the Southern Pegmatite Field.

Figure 1: Principal pegmatite target areas within the Lockier Range Project showing the extent of mapped pegmatites underlain by gridded soil results coded by Li2O ppm (refer company announcements dated 14 July 2023 & 21st August 2023).

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