OD6 Metals Limited reported initial assay results from the recently completed drilling campaign at its Splinter Rock Project northeast of Esperance in Western Australia. Splinter Rock contains widespread, thick clay hosted rare earth element (REE) mineralisation. Four prospects have been identified from the initial assay results that each span an extensive 4 to 7 km in drilled length (equivalent of more than 40 lengths of the MCG) for each Prospect, which lie interspersed between the granite outcrops.

Extensive clay vertical thickness generally vary between 10-30m and up to 80m, and start in the near-surface. All four prospects include holes with grade x interval greater than 20,000 (ppm TREO metres) representing significant accumulations of mineralised clay-hosted rare earth deposits. All zones are open orthogonal to drill lines and are anticipated to extend laterally over several kilometres.

Cross sections for each deposit are provided on pages 9 to 11. The four prospects are named: Scrum Prospect, Centre Prospect, Flanker Prospect, Prop Prospect. Assay results have been received for 65 holes of the completed 179-hole program.

All assays were undertaken using 4-acid soluble digestion, so do not return results for resistate non-acid soluble REE minerals. Assays received from 32 of the 65 holes have returned significant TREO grades and thickness using a 750ppm cut-off grade with clay thickness intervals up to 33m. Magnetic Rare Earth Oxides make up an average of 22.5%, with Critical Rare Earth Oxides averaging 24.2% plus Heavy Rare Earth Oxides averaging 10.7%.

Assays received from 47 of the 65 holes have returned significant TREO grades and thickness using a 300ppm cut-off grade with clay thickness intervals ranging up to 80m. Magnetic Rare Earth Oxides make up an average of 22.2%, with Critical Rare Earth Oxides averaging 24.2% plus Heavy Rare Earth Oxides averaging 11.2%. The Scrum Prospect extends for approximately 6 km along a northwest-southeast drill line and is yet to be constrained to the northeast and southwest.

Clay hosted rare earth are located in thick areas of the prospect and vary between 12 to 33m with TREO assay values up to 1565ppm at a 300ppm cut off grade. The prospect contains a shallow amount of transported cover and saprolitic clays of approximately 20 to 25m above the clay hosted rare earth areas as detailed in the following cross section. The Centre Prospect extends for approximately 5 km along a northwest-southeast drill line and is yet to be constrained to the northeast and southwest.

Clay hosted rare earth are located in thick areas of the prospect and vary between 10 to 30m with TREO assay values up to 2287ppm at a 300ppm cut off grade. The prospect contains a shallow amount of transported cover and saprolitic clays of approximately 20m above the clay hosted rare earth areas as detailed in the following cross section. The Flanker Prospect extends for approximately 4 km along a northwest-southeast drill line and is yet to be constrained to the northeast and southwest.

Clay hosted rare earth are located in thick areas of the prospect and vary between 20 to 30m with TREO assay values up to 1623ppm at a 300ppm cut off grade. The prospect contains a shallow amount of transported cover and saprolitic clays of approximately 5-15m above the clay hosted rare earth areas as detailed in the following cross section. The Prop Prospect extends 5 km to the northwest-southeast and 7km to the northeast-southwest on drill lines.

Clay hosted rare earth are located in thick areas of the prospect and vary between 10 to 80m with TREO assay values up to 1400ppm at a 300ppm cut off grade. The prospect contains a variable amount of transported cover and saprolitic clays of approximately 0 -27m above the clay hosted rare earth areas as detailed in the following cross section. The Splinter Rock Project is a 2,579km2 tenement package located approximately 150km northeast of Esperance, Western Australia.

The Splinter Rock clay-hosted REE mineralization is currently inferred to be a mobilised weathering product of the REE enriched Booanya granite suite (as shown in pink in Figure 10 below). Based on historic work and compilation of target geology (as presented in the Company's prospectus dated 20 June 2022), the target area at Splinter Rock covers over 40 x 60km, making this one of the largest known clay-hosted REE target areas in Australia, equivalent to the area of the Australian Capital Territory. The completed program comprised: 179 aircore holes; 5,862m drilling; Average depth of 32.7m; Drill spacing between 200m, 400m and 800m; Drilling along two perpendicular traverses plus an area of intense drilling near the geographic location of Splinter Rock totaling over 100km in length; A small number of planned drill holes were not completed due to poor access conditions, or intersected silcrete layers in the near surface preventing drilling into lower saprolite.