ASX ANNOUNCEMENT

30 July 2021

JUNE 2021 QUARTERLY REPORT

Odyssey Gold Limited (ASX: ODY) ("Odyssey" or "Company") is pleased to present its quarterly report for the period ended 30 June 2021. Highlights from and subsequent to the quarter include:

HIGHLIGHTS

Completed maiden drill program at Tuckanarra and Stakewell Gold Projects

  • Odyssey successfully completed its maiden drill program, including 10,970m of reverse circulation
    ("RC") and 2,030m of diamond core ("DD") drilling.

Exploration Activity

  • Bottle Dump - 30 out of 33 holes intercepted significant gold mineralisation, extending mineralisation approximately 180m east of the Bottle Dump pit.
  • Cable-Bollard - 15 of 17 holes intercepted significant gold mineralisation between the Cable and
    Bollard pits, extending mineralisation in two parallel BIF's.
  • Anchor Target & Maybelle Deposit - Successfully intercepted the targeted mineralised sequences, and all except one encountered gold mineralisation.
  • Kohinoor - Drilling at Kohinoor successfully intercepted the Kohinoor Mine Banded Iron Formation ("BIF") sequence.
  • Visible free gold was discovered near surface at the Blue Gino prospect, opening up a significant new sequence of quartz veins, previously unexplored.

Completed $10 million capital raising to accelerate exploration

  • Odyssey successfully completed a share placement of 79.8 million new shares, to raise gross proceeds of $10 million.

For further information, please contact:

Matt Syme

Executive Director

Tel: +61 8 9322 6322

ABOUT ODYSSEY GOLD

Odyssey is a well-funded junior explorer with a land position of over 170km2 in the Murchison Goldfields, with over 30km of strike in highly fertile BIF and greenstones. Odyssey holds an 80% interest in the high-grade Tuckanarra and Stakewell Gold Projects. Odyssey's maiden drill program targeted down-plunge and extensional areas along trend of the previously mined or known mineralisation.

Figure 1. Odyssey Gold's land position.

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TUCKANARRA PROJECT

Bottle Dump

Gold mineralisation at Bottle Dump is hosted within a sub-vertical band of sulphide-rich meta sediments and BIF that trends in an east-west directions. The pyrrhotite-rich Bottle Dump Mine BIF sequence is open at depth and to the east.

Thirty out of 33 holes in maiden drill program intercepted gold mineralisation below and along strike from the Bottle Dump pit, confirming the strong potential for the significant continuation of gold mineralisation down-plunge and along strike. The drilling has successfully extended the Bottle Dump Mine BIF sequence by approximately 180m. Significant intercepts during the quarter include:

  1. 2.3m @ 600g/t Au from 248.7m - TCKDD0003

o

8m

@ 8.3g/t Au from 156m

- TCKRC0021

o

24m

@ 4.5g/t Au from 179m

- TCKRC0022

o

13m

@ 3.9g/t Au from 190m

- TCKRC0014

The Company believes that the Bottle Dump East BIF sequence is showing strong potential to host further significant gold mineralisation due to its unique structural setting in the region - with east- southeast ("ESE") trending BIF sequences being subparallel to interpreted ESE trending major shears. The visible gold in TCKDD0003 and high-grade results from the maiden drill program support this thesis.

The Phase 2 drill plan will target the extension of mineralisation towards Bottle Dump East, which has a potential strike extent of over 800m (see Figure 2.). The Bottle Dump BIF mineralisation is also open at depth and along its extent.

Figure 2. Long-section of the Bottle Dump pit.

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Figure 3. The maiden diamond hole - TCKDD0003.

Cable & Bollard Exploration Activity

Odyssey has drilled 15 RC holes for 2,264m and 2 DD holes for 378.5m, along the Cable-Bollard Trend. Fifteen of 17 holes in the maiden drill program intercepted gold mineralisation.

Drilling to the south of Cable West has intercepted two main BIF units (Eastern and Western) which are interpreted to be open down dip and along strike. Prior to the Odyssey maiden drill program, the Cable Western BIF unit had been untested south of the Cable open pit and has now been intersected in several Odyssey holes over a strike length of 350m.

Intercepts include:

Cable West

16m

@ 10.0g/t

from 112m

(TCKRC0042)*

including 4m @ 34.2g/t

from 112m

(TCKRC0042)*

9m

@ 2.2g/t

from 117m

(TCKRC0037)

4m

@ 2.4g/t

from 120m

(TCKRC0038)*

Cable East

7m

@ 4.8g/t

from 105m

(TCKRC0039)

8m

@ 4.4g/t

from 8m

(TCKRC0048)*

8m

@ 2.2g/t

from 116m

(TCKRC0036)*

2m

@ 3.0g/t

from 99m

(TCKRC0043)

3m

@ 1.8g/t

from 94m

(TCKRC0047)

* = 4m composites

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These results demonstrate the presence of two discrete parallel BIFs that host significant gold mineralisation between the Cable and Bollard pits. This previously underexplored trend, as indicated by laterite mineralisation in shallow historical drilling, potentially encompasses the Cable and Bollard pits.

Both BIF units are still open to the north and south, and at depth.

Figure 4. Drill plan showing results and all pending drill hole and interpreted trends of mineralised BIF's along

the Cable-Bollard trend.

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Odyssey Energy Limited published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 23:58:02 UTC.