Quarterly Report – Activities for Quarter Ended 30 June 2024

HIGHLIGHTS:

Relief Well Uranium Project (Lyndon):

• Relief Well Uranium Prospect immediately adjoins Paladin Energy’s Carley Bore Uranium Project
• (15.6MLbs U₃O₈ announced resource)
• Extensive 8km long palaeochannel confirmed at Relief Well, prospective for roll-front style uranium mineralisation
• Drill planning underway for testing of roll-front uranium mineralisation at Relief Well
• Unconformity-Type and fault-related uranium mineralisation potential along the Gneuda Formation- Moorarie Supersuite contact.

Lyndon Uranium/Lithium/REE

• New Rock chip assay results up to 6,612ppm U₃O₈ at the Baltic Bore and Jailor Bore prospects
• 12 rock chips returned assays >1,000ppm U₃O₈
• 5 rock chips returned assays >1,000ppm V2O5
• Uranium anomalism spans strike lengths of 2.6km at Baltic Bore and 2km at Jailor Bore
• Lyndon Project Immediately adjoins Paladin Energy’s Carley Bore Uranium Project (15.6MLbs U₃O₈)

Gascoyne East:

• Completion of lithological and structural interpretation from geophysical datasets
• PoW approval for Phase 1 aircore drilling to assist bedrock mapping
• Geophysical interpretation has confirmed drill targets for:
  • Intrusion-related porphyry and Iron Oxide Copper-Gold (IOCG) mineralisation
  • Magmatic Ni-Cu-PGE mineralisation within a distinct layered mafic intrusion
  • Orogenic and intrusion-related gold mineralisation within the Dalgaringa Supersuite and Camel Hills Metamorphics.
  • Intrusion-related gold and base metal deposits within the Edmund Basin
  • Sedimentary-hosted base metal deposits in the Edmund Basin analogous to the Abra deposit
• At-surface uranium targets identified through airborne radiometric survey data

Odessa’s Executive Director, David Lenigas, commented:

“This has been a Quarter to prepare for drilling in the Gascoyne. We have identified some very significant uranium targets, and we aim to drill this Quarter. We have high grade calcrete uranium targets and substantial roll-front uranium targets set up to drill. Our drill contractor has been chosen and we are finalising some heritage surveys at Lyndon before we mobilise the drill rigs to Gascoyne East and Lyndon. We will advise of the planned metres of the various types of drilling we plan to do, closer to the drill rigs being mobilised. This should be an exciting Quarter for shareholders and the board looks forward to elaborating on the drilling as it moves to proceed shortly.”

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