OD6 Metals Limited advised that they have engaged Australia's national science agency, CSIRO, on a project to increase the understanding of the geochemical and geophysical signatures of rare earth targets at the Company's Splinter Rock and Grass Patch Projects. CSIRO and OD6 Metals have entered into an agreement supported through CSIRO's Kick-Start program to conduct an initial first-stage project that will provide improved geochemical and geophysical understanding to increase confidence in rare earth elements (REE) exploration at the Company's Splinter Rock and Grass Patch Projects. The Kick-Start project has been designed to: identify and characterise the cover and clay horizons using existing data · investigate the extent of these clay horizons identify potential sources of the REE investigate whether these clay horizons can be extrapolated or improved using geophysical tools propose appropriate surface exploration techniques.

The collaboration will: Use existing airborne electromagnetic geophysical survey data to determine if this technique is suitable for identifying clay horizons Review other hyperspectral techniques as tools for rare earth exploration Utilise CSIROs advanced mineral analysis and logging system, HyLogger Identify potential sources of the clay-hosted rare earth elements By defining the host, identifying potential sources and dispersion processes in a 3D landscape context, CSIRO will support the development of an improved exploration workflow to enable exploration with increased confidence. CSIRO Kick-Start is an initiative for innovative Australian start-ups and businesses, providing funding support and access to CSIRO's research expertise and capabilities to help grow and develop their business. OD6 Metals has been approved for a $50k Kick-Start voucher, which provides matched funding support and access to CSIRO's research expertise and capabilities to help grow and develop its business.

Geoscience Australia's AusAEM survey (collected across Australia since 2017) includes several 20km spaced lines across the Company's projects. This survey is an airborne electromagnetic technique that maps sub-surface conductivity. Conductivity can be a product of salty groundwater, conductive regolith (e.g. clays), graphitic layers or bedrock conductors (e.g. sulphide accumulations).

CSIRO's reprocessing of the existing wide spaced airborne electromagnetic geophysical survey data will be used to identify near-surface conductive zones that are interpreted to be the main clay horizons and to assess the technique for further data collection. Early assessment of this reprocessed and modelled data shows that this technique can indeed map regolith (clay) thicknesses and deep channels that are targets and identify areas of sub- cropping fresh rock or thick sand-dunes to be avoided. Based on the early indications of the CSIRO and OD6 review of existing airborne electromagnetic geophysical survey data, the Company has confirmed it is undertaking a Tempest Airborne Electromagnetic Survey over both the Splinter Rock and Grass Patch Projects commencing in October.

The key outcome of the survey is to identify and map clay locations, expanse, depth and thickness across OD6's current tenement areas. The mapping of clays will then enable targeted drilling of the company's high priority exploration areas over the next 6 to 18 months. Initial works by CSIRO and OD6 are expected to be completed by First Quarter 2023, with potential further works and additional Kick-Start funding to be reviewed at the end of the program.

Completion of the airborne electromagnetic survey is currently scheduled for late October 2022. Analysis of the data will be completed during Fourth Quarter 2022.