G11 RESOURCES LIMITED — Capital/Financing Update 2021

Jun 16, 2021

ASX Announcement

17 June 2021

ASX: ODM

Directors & Officers

Jason Bontempo Executive Chairman

Simon Mottram Non-Executive Director

Ted Coupland Non-Executive Director

Aaron Bertolatti Company Secretary

E: admin@odinmetals.com.au W: www.odinmetals.com.au

Registered Address: 35 Richardson Street WEST PERTH WA 6005

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Outstanding EM Survey Results

• HeliTEM2 airborne electromagnetic survey (“EM”) identifies 58 new targets from preliminary data, including 6 high priority first order EM targets at Odin’s flagship Koonenberry Copper Project located in north west NSW.

• Significant targets have been detected in known Volcanic Massive Sulphide (VMS) copper trends including:

  • Grasmere: Higher magnitude anomalism identified along strike and in proximity to the Grasmere deposit highlighting potential association with increased sulphide mineralisation. Grasmere contains an Indicated and Inferred Mineral Resource Estimate totalling 5.75 Mt @ 1.03% Cu

  • Cymbic Vale: Targets have been identified over >7km of strike and incorporates known copper mineralisation that extends over >1.2km of strike as defined by previous RC drilling that intersected 20m @ 0.73% Cu and 20m @0.33% Cu[1 ] (from Surface),

  • Wertago: Historic mining trend where geology is highly prospective for VMS along strike from the historic Wertago and associated mines, where little or no historic drilling has occurred. A further untested anomalous “Western” trend has been identified that extends for over 10km and includes 2 high priority targets,

• Ground reconnaissance is set to commence as soon as possible, starting with high priority targets.

• Final data to be received in July.

• Drilling planned to commence in August.

Odin Metals Limited (ASX: ODM) (Odin or the Company) is pleased to provide the following exploration and corporate update:

HeliTEM2 Airborne Electromagnetic Survey

Odin recently completed a detailed modern HeliTEM2 EM covering an area of ~1,150km[2] , within its Koonenberry project.

The airborne EM survey is the largest of its kind to be conducted over the highly prospective Koonenberry belt and focused on known mineralised trends, including the recently acquired Grasmere Deposit, plus its 21km of prospective strike. Interpreted VMS trends associated with near surface small scale historical mining, including Cymbric Vale & Wertago were also covered.

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ODM has received preliminary data from CGG Aviation (Australia) Pty Ltd the survey contractor, from which 58 targets have been identified, including 6 high priority targets (Figure 1) within known mineralised copper trends.

Ground reconnaissance and field verification is set to commence as soon as possible focused on verifying 6 high priority first order targets followed by checking of numerous second order target located in known significant mineralised trends. On completion of the field reconnaissance and the receipt of finalised data, ODM plans to commence drill testing of priority targets in August.

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Figure 1: New HeliTEM2 EM targets at the Koonenberry Cu Project with Airborne EM Background, 2021 HTEM CH10 Z Component with stitched insert from 2010 (area east of Cybric Vale) VTEM CH20 Z Component

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Authorised for release by: Jason Bontempo – Executive Chairman

For further information on Odin and its projects please visit: www.odinmetals.com.au or contact info@odinmetals.com.au

Notes on Release:

1. Two RC holes (CAVAC12 and CVAC13) were completed by Platsearch NL & Bonding Mining in 2007. The holes were drilled ~620m apart on a significant Cu mineralised trend that extends for at least 1.2km. Details of the drilling was reported by Bondi Mining on the 20/05/2008 (“Annual Report for PE 19 April 2008 over EL 6403 and EL 6834 Cymbric Vale Broken Hill Region – NSW”). The report is located at:

https://search.geoscience.nsw.gov.au/report/R00079540

Competent Persons Statement:

The information in this report that relates to Exploration results and Mineral Resources is an accurate representation of the available data and is based on information compiled by Mr Simon Mottram who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mottram is a Director of Odin Metals Limited. Mr Mottram has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (CP) as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mottram consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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