ODYSSEY GOLD LTD — Capital/Financing Update 2021

Feb 21, 2021

ASX ANNOUNCEMENT 22 February 2021

ODYSSEY COMMENCES DRILLING HIGH-GRADE GOLD TARGETS

Odyssey Gold Limited (ASX:ODY) (“Odyssey” or “Company”) is pleased to announce the commencement of the Company’s maiden drill program at its high-grade gold projects, Tuckanarra and Stakewell, in the Murchison Goldfields.

This maiden drill program, which comprises over 12,000m of reverse circulation ( “RC” ) and diamond core drilling across both Projects, is designed to test a number of high priority targets at both Tuckanarra and Stakewell.

HIGHLIGHTS

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• Numerous high-grade gold targets generated from the review and remodelling of the extensive historical drilling data and mining information across both Projects.

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• Results and data indicate that there is strong potential for high-grade gold mineralisation to continue down-plunge at multiple deposits (e.g. Kohinoor, Cable, Bottle Dump).

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• High priority targets derived from down-hole electromagnetics ( “DHEM” ) at Stakewell and recently revealed high-grade historical drilling at Tuckanarra.

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• Further newly uncovered historical drill data from the Donald deposit, including 7m @ 157g/t Au from 7m and 13m @ 57g/t Au from 6m, highlights the high-grade, structurally controlled potential in this area.

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• All necessary surveys have been completed and approvals received to enable the commencement of drilling at both Tuckanarra and Stakewell.

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• RC drill rig on site and diamond core rig expected later this month.

Executive Director, Matt Syme commented:

“The Odyssey team are very pleased to commence the Company’s maiden drill program after a significant amount of work to get to this position with collation, verification and review of the extensive historical data across both Projects. We have consolidated some of the best high-grade gold exploration ground in the Western Australian Goldfields and it is with great anticipation that we start drilling the numerous high-priority targets identified.”

For further information, please contact:

Matt Syme

Executive Director Tel: +61 8 9322 6322

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OVERVIEW

Odyssey controls a highly prospective footprint in the Meekatharra-Cue belt, with over 30km of strike of highly fertile BIF and greenstones, with extensive gold mining history and outstanding exploration potential. Both the Tuckanarra and Stakewell projects have a number of strong drill targets based on previous shallow mining and drilling, which demonstrate high-grade mineralisation continuing at depth and/or along strike.

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Figure 1: Tuckanarra & Stakewell Projects with key target regions

The Company is utilising modern exploration techniques and deeper drilling to target mineralisation along trend, and down plunge of known deposits. These techniques are similar to what was adopted and assisted in the recent successes of Musgrave Minerals Limited, Bellevue Gold Limited and Spectrum Metals Limited.

Gold mineralisation at the Stakewell Project is hosted within quartz veins, quartz reef and porphyry. It is structurally and metasomatically controlled and is associated with a series of plunging shoots contained within a BIF host, enclosed within the mafic sequence. The lode system is dominated by fine to medium grained quartz-pyrite-pyrrhotite schist. Accessory minerals include chlorite, hornblende, biotite, epidote, chalcopyrite and haematite. Supergene enrichment is a pronounced feature of the gold camp.

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The Tuckanarra Project area has four open pits, extensive minor gold workings, and prospecting pits principally associated with quartz veins and the mafic and BIF units. Where mineralised veins intersect major competency contrasts such as high magnesium basalt or BIF, veining becomes layer parallel to lithology, resulting in larger deposits such as the Bollard and Cable deposits. A number of styles of gold mineralisation have been identified in the area including mineralised BIFs ± quartz veining, quartz veins ± altered basalts, and gold mineralisation within laterite.

TARGETING

As part of Odyssey’s exploration strategy, ongoing comprehensive work programs aimed at developing targeting profiles for the Tuckanarra and Stakewell projects have led to the identification of a number of high-priority targets to be tested in the Company’s maiden drill program.

The targets are the outcome of the continued review and confirmation of the database. This has included the re-logging, re-mapping and re-assaying of historical drill core and samples, and the review of historical reports, which led to the discovery of a significant amount of additional data and drill intercepts.

Key target areas for the upcoming drill program at Tuckanarra are shown in Figure 2.

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Figure 2: High priority drill targets areas across the Tuckanarra area

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The work programs included the review and acquisition of high-resolution magnetics available in the area and re-interpretation of other ground geophysical surveys. These results combined with the extensive previous drilling data were remodelled and used to generate an updated 3D structural targeting model of the region.

Odyssey has also re-processed the available soils, high-resolution, and regional, magnetics to inform potential brownfields and extensional targeting opportunities. Initial investigations indicate that highgrade mineralisation is associated with pyrrhotite enrichment in the BIF units and the recent results from a DHEM survey has demonstrated that this technique is a credible targeting tool at both the Stakewell and Tuckanarra projects.

FIRST PHASE DRILL PROGRAM

The maiden drill program will include over 10,000m of RC and 2,000m of diamond drilling, targeting a mix of near-mine and brownfields targets at both the Tuckanarra and Stakewell projects.

At Tuckanarra, the drilling will focus on testing a combination of high-grade trend and extensional targets at the Bottle Dump, Cable, Maybelle, Anchor, and Lucknow deposits.

At Stakewell, RC drilling will target near-pit, sub-parallel repeats of the main Kohinoor BIF’s and be used for pre-collars for deeper diamond drilling. The diamond drilling will target the Kohinoor-deeps high-grade trend, as well as the deeper extents of the Bushmans EM plate.

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Figure 3: RC drill rig in operation at Stakewell

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TUCKANARRA GOLD PROJECT

The Tuckanarra goldfield historically produced approximately 27,000oz at an average grade of approximately 49g/t Au in the early 1900s and Metana Minerals NL subsequently mined approximately 95,000oz at an average grade of 2.8g/t Au from a number of small pits between 1988-1994.

Each of the four main historical pits at Tuckanarra (Bottle Dump, Maybelle, Cable and Bollard) boasts high-grade mineralisation open along strike and/or at depth. Numerous historical shafts point to additional targets not fully tested with modern exploration.

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Figure 4: Tuckanarra Project Map outlining underlying geology

Previous exploration at Tuckanarra has generated a significant drilling and geochemical database which includes over 2,949 drill holes for 110,231m (average depth 37.4m) and 6,940 soils/rock samples. Significantly however only 4% of the historical holes were drilled deeper than 100m. Additionally, a detailed airborne magnetic survey has previously been flown over the area which was used to aid in the structural targeting.

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In the early 2000s, Anglo Gold Australia Limited (“ Anglo ”) explored for large-scale mineralisation on the Tuckanarra area. As part of their exploration program, Anglo conducted an airborne geophysical survey over the ground. Odyssey has recently re-processed and re-interpreted this survey data (Figure 5) to assist in identifying additional targets.

A key outcome from this work is that the larger Bottle Dump deposit and high-grade Donald deposit (which features intercepts of up to 7m @ 157g/t Au ) occur in magnetic lows, which have until this point in time been poorly defined by the magnetic surveys.

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Figure 5: High-resolution Magnetic data over the Tuckanarra project, highlighting BIF units (conducted by Anglo)

BOTTLE DUMP AND DONALD TREND

Bottle Dump is the eastern most pit at Tuckanarra and is located within the broader Donald-Bottle Dump trend (Figure 6). At Bottle Dump, gold mineralisation is hosted within a sub-vertical band of sulphidic sediments and BIF that trends in an east – west direction. Mining here has produced an open pit to a depth of about 70m and the drilling beneath the current pit floor suggests that a significant highgrade shoot plunges steeply to the east at the eastern end of the pit and potentially also to the west.

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Figure 6: Bottle Dump area at Tuckanarra showing the high-grade targets identified

Odyssey recently uncovered a number of high-grade drilling intercepts at Bottle Dump, not included in the original database. These additional intercepts reinforce that there is strong potential for the highgrade Bottle Dump mineralisation to be open along plunge to the east, and the west (see Figure 7). These results included:

• 30m @ 3.7g/t Au (BTD100 from 87m)

• 13m @ 8.5g/t Au (BT128 from 15m); including 4m @ 25.3g/t (from 90m)

• 8m @ 10.3g/t Au (BT123 from 88m); including 4m @ 18.0g/t (from 91m)

• 2m @ 15.8/t Au (BT107 from 81m); including 2m @ 15.8g/t (from 81m)

• 8m @ 6.3g/t Au (BT138 from 80m); including 3m @ 13.6g/t (from 85m)

• 12m @ 4.5g/t Au (BT108 from 69m); including 4m @ 9.1g/t (from 71m)

• The results consolidate previously known intercepts at the base of mining, including:

• 16m @ 3.8g/t Au (MBRC0035 from 56m)

• 18m @ 4.9g/t Au (MBRC0038 from 54m)

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Figure 7: Long-section of Bottle Dump showing the open high-grade plunges

A detailed review of the exploration along the eastern trend from Bottle Dump indicates that historical drilling was typically targeted to a vertical depth of approximately 40m; leaving significant potential for mineralisation beneath any depleted weathered profile. Initial drilling will target these areas to test for the extension of gold mineralisation at depth.

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CROSS SECTION A
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Figure 8: Cross section A from Bottle Dump showing the high-grade plunge and intercepts

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Figure 11: Cross section A from Bottle Dump showing the high-gunge and intercepts
CROSS SECTION B
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CROSS SECTION C
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Figures 9 & 10: Cross sections B and C from Bottle Dump showing the high-grade plunge and intercepts

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– Newly Identified Drill Holes Donald Deposit

Additional, previously unannounced, high-grade drill intercepts have recently been identified from historical reports at the Donald deposit, a small shoot or parallel structure located 400m northwest of Bottle Dump. The Donald deposit hosts bonanza gold grades of up to 7m @ 157g/t Au (DA0035) which are associated with the contact of quartz veins and the local BIF unit. This style of high-grade, quartzvein related mineralisation is interpreted to be similar to that recently sampled at Cable (refer announcement 6 February 2021); and provides additional support for the targeting of high-grade plunges in the Bottle Dump area.

These significant intercepts are located beneath the western portion of the Bottle Dump waste dump (Figures 11 and 12) and may have been at least partially mined; however no definitive mining records are yet available. The mineralisation is well defined by historical drilling with dimensions of approximately 50m along trend and 30m along dip. Best intercepts include:

• 7m @ 157.3g/t Au (DA0035 from 7m) including 4m @ 273.8g/t Au from 13m

• 13m @ 56.9g/t Au (DA0054 from 6m) including 4m @ 182.4g/t Au from 7m

• 19m @ 11.2g/t Au (DA0044 from surface) including 3m @ 24.3g/t Au from 6m and 2m @ 56.5 g/t Au from 14m

• 7m @ 52.4g/t Au (BTS106 from 15m) including 5m @ 73g/t Au from 17m

• 10m @ 4.8g/t Au (BTS168 from 2m)

• 6m @ 8.8g/t Au (DA0048 from 11m) including 1m @ 39.3 g/t Au from 12m

Mapping and 3D modelling of the Donald deposit area indicates that the BIF trend that hosts the mineralisation may be materially untested to the west and east of the currently defined deposit; with small-scale workings also present to the west. Further work will be undertaken of the area with a view to drilling confirmatory and exploration drill holes.

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Figure 11: Donald deposit with drilling intercepts as grade x thickness (Au ppm x m)

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Figure 12: Example Cross-Section of the Donald Deposit

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WESTERN TUCKANARRA

An extensive work program was also conducted around the other open pits on the western side of the Great Northern Highway; Cable, Bollard and Maybelle.

Previous results indicate significant potential for high-grade mineralisation below the shallow pits, as well as extensional areas like Maybelle North. Further exploration is also warranted to follow up both high-grade intercepts in fresh rock and near-surface mineralisation associated with lateritic enrichment in a number of areas at Tuckanarra, such as the area between the Bollard and Cable Pits (Figure 13).

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Figure 13: Soil Contours and previous drilling on the western portion of Tuckanarra

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MAYBELLE

The Maybelle pit is located on the western boundary of the Tuckanarra tenements. The Maybelle gold deposit has been exploited via a relatively shallow, narrow and long open pit trending roughly northsouth, with mineralisation associated with a sequence of sulphidic sediments and BIF within mafic volcanics. It has a high-grade zone at the northern end of the pit which is potentially plunging and open at depth. Previous mining followed the BIF unit.

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Figure 14: Drone photograph of the Maybelle Pit looking in a south-westerly direction

Previous drilling defined gold mineralisation to ~60m below the pit, which remains open at depth and along trend . The drilling undertaken in 2015 by Monument Mining Limited ( “Monument” ), as well as other explorers in the mid-1990’s, indicates significant depth potential to the mineralisation below the shallow Maybelle pit (mined to approximately 40m below surface in the 1990’s).

Intercepts open at depth include:

• 10m @ 4.8g/t Au (MYD0100 from 79m)

• 5m @ 2.2g/t Au (MY0108 from 56m)

• 7m @ 2.5g/t Au (15MTRC027 from 79m)

• 1.5m @ 22.1g/t Au (TK0048 from 47m)

• 10.3m @ 4.1g/t Au (TKD0003 from 51m)

Drilling in the Phase 1 program will target high-grade depth and plunge extents (Figure 15) under Maybelle as well as the Maybelle North deposit. The cross-section provided in Figure 16, highlights an example of open mineralisation at Maybelle.

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Figure 15: Long-section of Maybelle showing the open high-grade plunges

Drill targets have been identified along trend of Maybelle at the extensional deposit, Maybelle North. This target will be also tested during the drilling program to assess the potential of gold mineralisation continuing along trend from Maybelle.

Recently assays from HQ holes previously not assayed, returned an intercept of 5m @ 3.1g/t Au from 36m (15MTKDD04) at Maybelle North. This supports the potential for the Maybelle North mineralisation to be open at depth, with historical drilling potentially missing the depth extents.

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Figure 16: Cross section at Maybelle showing the significant intercepts

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CABLE & CABLE WEST

The Cable pit is located in the northern area of the Tuckanarra tenements. Significant high-grade mineralisation occurs adjacent to the existing open pit and around the Cable deposits. Mineralisation remains open along trend and at depth, with multiple trend targets already identified from the existing historical data set. Previously identified intercepts include:

• 28m @ 6.4g/t Au (PRC004 from 35m including 10m @ 15.1g/t from 35m and 12m @ 2.0g/t Au from 50m)

• 7m @ 67g/t Au (92TRC0334 from 48m)

• 3m @ 36.4g/t Au (PAC086 from 15m)

• 5m @ 42.3g/t Au (92TRC0220 from 51m)

The Cable area including the current pit, Cable West deposit and other surrounding areas has a long gold production history and was the originally mined in the late 1890’s with the state government establishing a State Battery in the area. This State Battery was successfully operated for over 10 years with the remaining workings and structures still visible today.

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Figure 17: Cable area looking west showing the pit and the State Battery

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Results confirmed the tenor of the nearby mineralisation and indicate potential for down-dip continuation of the main mineralisation at Cable West and Cable East.

The high-grade mineralisation ( 6m @ 22.4g/t Au from 34m) encountered in 15MTKDD001 is associated with an iron-sulphide filled quartz breccia (Figures 18 and 19), interpreted to be open downdip and along plunge to the south.

There is also potential for high-grade subordinate lodes to be present at Cable East and Cable West (e.g. 1.7m @ 13.4g/t Au from 59m in 15MTKDD001 at Cable East and 0.4m @ 18.4g/t Au from 54.6m in 15MTKDD02 at Cable West), in areas not indicated by the historical drilling.

The following two Cross-sections show some of the planned holes in the Cable area. The planned holes are targeting the extension of the high-grade mineralisation at depth which remains open from previous shallow drilling.

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Figure 18: Cross section of the Cable Pit – Showing the high-grade Cable West mineralisation

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Figure 19: Cross section of the Cable Pit with the mineralisation zone intersected from Cable East

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BOLLARD

The Bollard pit is located near the Great Northern Highway, along trend from Cable. Bollard has highgrade mineralisation below the existing pit. Mineralisation is interpreted to be open down dip and along trend of current drilling.

High grade intercepts below the existing pit include:

• 12m @ 6.9g/t Au (TRC0068 from 43m)

• 25m @ 3.9g/t Au (TRC0137 from 49m)

• 9m @ 4.8g/t Au (TRC0118 from 78m)

• 15m @ 4.6/t Au (TRC0122 from 41m)

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Figure 20: Long section of the Bollard Pit indicating high-grade intersections and open mineralisation

Previous drilling has discovered numerous isolated drill holes to the south of the Bollard pit (Bollard South). High Grade intercepts include:

• 8m @ 13g/t Au (TPH0238 from 42m)

• 3m @ 9.3g/t Au (TPH013 from 27m).

These intercepts warrant further investigation and modelling to determine the mineralised trend/plunge in this area.

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STAKEWELL GOLD PROJECT

The Stakewell Gold Project is a historical, high grade gold project with production from the Kohinoor mine totalling approximately 29,000oz, including 8,050oz at 13.9g/t Au (underground, early 1900’s), 15,750oz at 12.0g/t Au (underground, 1990’s) and 5,200oz at 1.5g/t Au (open pit, 1990’s)[1] . The final phase from 1994 to 1995 produced 41,000 tonnes at 12.0g/t Au for 15,750oz from an underground operation mined to a depth of approximately 200m. The surrounding area contains a number of other prospects and additional targets.

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Figure 21: Kohinoor Pit at Stakewell Project

Historical drilling at Stakewell delivered significant unmined high-grade intercepts including:

• 4m @ 26.6g/t Au (MKR105 from 179m)

• 2m @ 18.5g/t Au (MKR107 from 178m)

• 7m @ 21.8g/t Au (MKR067 from 48m)

• 5m @ 19.7g/t Au (MKR106 from 197m)

• 4m @ 18.4g/t Au (KRC0021 from 22m)

Significant intercepts to follow up (open along trend) including:

• 4m @ 17.8g/t Au (MKR116 from 312m)

• 5m @ 5.3g/t Au (11SWD002 from 259m)

• 3m @ 7.5g/t Au (MKR113 from 238m)

• 3m @ 14.9g/t Au (KDDH0001 from 86m)

1 Production data sourced from the Geological Survey of Western Australia’s Minedex Database.

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Past exploration at Stakewell has included extensive soil sampling with analysis identifying several zones of coherent gold-in-soil anomalism at Kohinoor and the immediate surrounding areas. Of particular interest are patchy gold-in-soil occurrences that lie to the north of Kohinoor at the Christmas Hope prospect which, in addition to its previous high-grade production, suggests the potential for blind gold mineralisation, lacking significant exposure at surface.

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Figure 22: Plan view of targets, showing gold in soil anomalies > 4ppb and drilling (>10m deep)

Several air-core, RC and diamond drilling programs were undertaken at Stakewell from the 1980’s to late 2000’s however, there has been minimal exploration on Stakewell since that period. Significantly, of the 2,197 drillholes in the project database, only 127 (6%) are deeper than 50m.

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Figure 23: Long section at Stakewell showing near mine targets

The Company’s focus during this drill program at Stakewell is to target the depth extents of the Kohinoor deeps mineralisation, northern footwall lodes subordinate to the main Kohinoor mineralisation, and also test the north-south trending fault system which is interpreted to have controlled the high-grade Kohinoor mineralisation, as well as the newly discovered Bushmans DHEM plate.

A recent DHEM survey was completed using a historical drill hole near the Kohinoor pit at a previously mined prospect called Bushmans. The DHEM was successful in identifying a new target zone. The DHEM plate appears to lie on the contact of a parallel BIF unit, approximately 120m to the north of the Kohinoor pit, and the same cross-cutting fault that is interpreted to have controlled the Kohinoor mineralisation.

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Figure 24: Plan View of Stakewell near-pit targets, showing the relationship of BIFs and fault-controlled mineralisation.

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Figure 25: Long Section showing DHEM target, Kohinoor pit and drilling (looking into the plane of the fault ).

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ADDITIONAL PROJECT TARGETS

In addition to the high-priority targets outlined above, the Company is continuing to review the Projects with a regional target generation focus. This includes the ongoing compilation of previous structural and targeting studies, a project and regional review of the tenements with respect to structural and lithological controls, assessing alternative geophysical methods to identify both BIF-related stratigraphies under cover and in weathered regions, identify potential cross-cutting fault and shear systems associated with gold mineralisation, and surface geochemistry infill.

The Tuckanarra region contains numerous isolated drill holes that contain >10g/t intercepts. An example of this is the significant intercepts at Bollard South. These additional prospects warrant further investigation and modelling to test their potential and the Company is continuing its ongoing data review and geological modelling on these areas.

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Figure 26: Tuckanarra & Stakewell project map indication the multiple additional prospects

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COMPETENT PERSONS STATEMENT

The information in this announcement that relates to exploration results is based on information reviewed by Mr Neil Inwood of Sigma Resources Consulting, who is a consultant to Odyssey Gold Limited and is an accurate representation of the available data and information available relating to the reported historical exploration results. Mr Inwood is a Fellow of the Australian Institute of Mining and Metallurgy and is a holder of incentive options and shares in Odyssey Gold Limited. Mr Inwood has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Based on the available information relating to the historical exploration results reported in this announcement, Mr Inwood consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to historical exploration results are extracted from the Company’s ASX announcements dated 4 September 2020, 22 October 2020, 14 January 2021, 3 February 2021 and 9 February 2021. These announcements are available to view on the Company’s website at www.odysseygold.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, Exploration Target or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements; and that the information in the announcement relating to exploration results is based upon, and fairly represents the information and supporting documentation prepared by the named Competent Persons.

FORWARD LOOKING STATEMENTS

Statements regarding plans with respect to Odyssey’s project are forward-looking statements. There can be no assurance that the Company’s plans for development of its projects will proceed as currently expected. These forward-looking statements are based on the Company’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

This ASX Announcement has been approved in accordance with the Company’s published continuous disclosure policy and authorised for release by the Company’s Board.

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APPENDIX 1 - DRILL INTERCEPT TABLE - DONALD DEPOSIT

Hole ID	Type	Easting	Northing	RL	Depth	Az	Dip	From (m)	Length (m)	Au (ppm)
BRC003	RC	611,118	7,000,362	517	35	298	-60	20	2	1.58
BRC006	RC	611,131	7,000,328	517	40	18	-60	35	5	63.20
BRC007	RC	611,144	7,000,317	517	50	18	-60	19	2	1.13
BRC009	RC	611,031	7,000,314	510	90	18	-60	37	1	2.79
BRC010	RC	611,106	7,000,279	511	90	18	-60	86	1	22.00
BRC014	RC	611,107	7,000,360	517	10	18	-60	0	3	0.76
BRC026	RC	611,116	7,000,341	517	38	18	-60	17	3	2.02
BRC028	RC	611,121	7,000,339	517	41	18	-60	20	2	1.06
BRC030	RC	611,126	7,000,339	517	41	18	-60	0	6	1.87
BRC032	RC	611,132	7,000,340	517	34	18	-60	3	2	0.81
BRC033	RC	611,130	7,000,334	517	41	18	-60	25	2	4.90
BRC038	RC	611,136	7,000,323	517	50	18	-60	15	2	0.57
							including	22	4	1.83
BRC039	RC	611,130	7,000,363	517	36	298	-60	0	1	5.20
BTS106	RAB	611,108	7,000,347	517	40	18	-60	0	3	0.67
							including	15 17 31	7 5 1	52.35 73.00 14.03
BTS160	RAB	611,128	7,000,382	517	46	18	-60	0	2	1.99
BTS163	RAB	611,092	7,000,352	517	40	18	-60	14	1	4.11
BTS168	RAB	611,127	7,000,330	518	40	18	-60	2	10	4.79
BTS170	RAB	611,117	7,000,302	517	40	18	-60	32	2	0.88
DA0005	RC	611,149	7,000,330	517	20	18	-60	0	2	0.86
DA0021	RC	611,135	7,000,335	517	20	18	-60	2	10	1.18
DA0022	RC	611,136	7,000,338	517	20	18	-60	0	1	2.10
DA0028	RC	611,125	7,000,336	517	20	18	-60	3	3	2.14
DA0029	RC	611,126	7,000,338	517	20	18	-60	1	3	10.46
DA0035	RC	611,122	7,000,343	517	20	18	-60	13	7	157.29
							including	13	4	273.80
DA0036	RC	611,123	7,000,345	517	20	18	-60	0	1	5.80
DA0039	RC	611,118	7,000,344	517	20	18	-60	15	5	3.38
DA0043	RC	611,113	7,000,346	517	20	18	-60	14	3	1.46
DA0044	RC	611,114	7,000,349	517	20	18	-60	0	19	11.21
							including including	6 14	3 2	24.30 56.50
DA0045	RC	611,115	7,000,351	517	10	18	-60	0	7	7.06
DA0046	RC	611,107	7,000,345	517	28	18	-60	20	2	2.51
DA0047	RC	611,108	7,000,348	517	25	18	-60	14	4	1.54
DA0048	RC	611,109	7,000,350	517	20	18	-60	11	6	8.83
							including	12	1	39.30
DA0049	RC	611,110	7,000,353	517	15	18	-60	0	15	1.60
DA0054	RC	611,105	7,000,354	517	15	18	-60	0	13	56.91
							including	7	4	182.40
DA0055	RC	611,107	7,000,357	517	15	18	-60	0	9	5.09
DA0056	RC	611,098	7,000,349	517	28	18	-60	23	3	3.32
DA0059	RC	611,101	7,000,357	517	15	18	-60	0	2	1.22

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APPENDIX 2 - JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	Drilling results pertaining to the Tuckanarra Project (Project) have been completed by several previous explorers in the region. Sampling methods employed in the projects assessed include soil sampling and rock-chip sampling, as well as drilling (various methods including air core (AC), Rotary Air Blast (RAB), Reverse Circulation (RC) and diamond core (DDH). Historical sampling has been documented in old reports and government records (available on WAMEX) with key reports reviewed by the Competent Person. The location and tenor of historical drill records cannot be absolutely verified until key drill holes have been reviewed and collars located on the ground. It is uncertain as to how much key exploration information will be re- verifiable past the current exploration reports. The sampling has been carried out on AC, RAB, RC and DDH drilling techniques at the Project. A total of 408 AC (11,783m), 1,912 RAB (67,777m), 766 RC (35,505m) and 19 DDH (1,460m) holes are present in the Project database. The new historical data reported in the current announcement has been collected from original company reports and data which were submitted to DMIRS and available on the WAMEX website. A search of WAMEX reports located additional drilling at the Donald deposit that was not previously compiled into the database. In 1994-5 Gold Mines Australia (GMA) drilled 77 RAB holes for 1,526m which have now been included in the company’s database. Records for newly acquired historical data have been compiled from reports obtained on the WAMEX website and checked against either reported laboratory results or compiled logs, with cross-checks against historical sections. The exploration data is considered suitable for current reporting purposes and exploration targeting, however further work would be required to verify the data suitable for inclusion in potential future project reviews of resource estimations.
	Include reference to measures taken to ensure sample representation and the appropriate calibration of any measurement tools or systems used.	The collar locations of the GMA drill holes were surveyed on a local grid. Sampling was carried out under the GMA protocols and QAQC procedures which are understood to have been industry standard practice at the time. Unknown for historical drilling except what was recorded in the WAMEX reports. See further details below.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	The GMA RAB samples were collected by scoop at 4m intervals. Samples were assayed by Aqua regia digest with AAS finish.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	Holes were drilled using RAB method.

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Criteria	JORC Code explanation	Commentary
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	The majority of samples were understood to be dry. Ground water ingress occurred in some holes at rod change but overall, the holes were kept dry. Typically, drilling operators ensured water was lifted from the face of the hole at each rod change to ensure water did not interfere with drilling and to make sure samples were collected dry. Further investigation is required to assess core recovery from available historical drill holes.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Not recorded for 1995 GMA drilling.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	No relationship between recovery and grade has been identified to date in the data review stage.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	No records of geological logging located in historical reports.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	No records of geological logging located in historical reports.
	The total length and percentage of the relevant intersections logged	No records of geological logging located in historical reports.
Sub- sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	No original records of subsampling have been found for drilling; it is possible that this information can be sourced in the future.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	RAB samples were collected by scoop from sample piles.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	All holes in the GMA RAB program were sampled at 4m intervals using a scoop with intersections over 0.20 g/t Au being resampled at 1m intervals. These samples were analysed at the GMA Reedy laboratory and at the Amdel laboratory in Meekatharra using Aqua Regia digest with an AAS finish.

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Criteria	JORC Code explanation	Commentary
	Quality control procedures adopted for all sub- sampling stages to maximise representation of samples.	No detailed records of assaying QAQC are available and it is not possible to comment absolutely on the quality of assaying work undertaken. The work carried out by previous workers used reputable assay laboratories within the region and it is reasonable to assume that the assay results stated in the exploration reports are indicative of mineralisation styles in the area. It is possible that further information can be sourced in the future.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.	The technique to collect the 1m samples was via a rig mounted riffle splitter.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered appropriate to give an indication of mineralisation given the particle.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	All holes in the GMA RAB program were sampled at 4m intervals using a scoop with intersections over 0.20 g/t Au being resampled at 1m intervals. These samples were analysed at the GMA Reedy laboratory and at the Amdel laboratory in Meekatharra using Aqua Regia digest with an AAS finish.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	The author is not aware of any geophysical tools used in this program.
	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	The QA/QC protocols were not recorded but checks of mineralised samples were also carried out by the GMA laboratory using the Au-3 AAS method and the Au-6 fire assay method.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Significant assay results have been cross-checked to original company reports available on the WAMEX website. No material errors have been identified to date. Validation work will continue during the early stages of the project. Several drillhole collars have been identified in the field which confirm the collar positions to a reasonable to moderate level of accuracy at this early stage. At the prospect scale the quality of data is currently considered acceptable for exploration purposes. Further investigation and validation will be undertaken as work programs progress.
	The use of twinned holes.	There have been no recent twin holes drilled at the Project.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	The author is unaware of how the AC and RC data was captured in the field, but it is noted that original logs are included in multiple previous historical exploration reports – these logs are handwritten onto pre-formed sheets. Diamond core logs were by hand and transferred electronically into excel spreadsheets and imported into an Access database.
	Discuss any adjustment to assay data.	No assay data was adjusted.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	All GMA hole collar locations were surveyed by a registered Surveyor on a local grid. It is unknown what group managed the survey function. Field work in 2020 will focus on picking up drill collars in the field for verification purposes.

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Criteria	JORC Code explanation	Commentary
	Specification of the grid system used.	The project currently uses the MGA94, Zone 50 grid system. Previous workers also used AMG Zone 50.
	Quality and adequacy of topographic control.	The site topographic surveys including the pit surveys match well with the drill hole collars. Detailed aerial photography over the region has aided on locating drillhole collars.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	The data density is sufficient to test the style of mineralisation at the Project with respect to exploration targeting. Data spacing range from hundreds of metres to sub 20m.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	Further work is required at the Project to test for extension of mineralisation potential and verification of historical collars. Some drilling is on a spacing which is sufficient to test the grade continuity of mineralisation for this style of mineralisation. The current data set is considered potentially appropriate for use in a future Mineral Resource providing further drilling is completed.
	Whether sample compositing has been applied.	RAB samples at 4m intervals using a scoop with intersections over 0.20 g/t Au being resampled at 1m intervals.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	It is considered the orientation of the bulk of the drilling and sampling suitably captures the dominant “structure” of the style of mineralisation at Tuckanarra.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	This is not currently considered material. The bulk of the intercepts appear to be orthogonal to the mineralisation +/- 25 degrees unless otherwise stated in the intercepts table. Further work will be undertaken to analyse this in the future as exploration works progress.
Sample security	The measures taken to ensure sample security.	Unknown for GMA and historical data.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Sampling and assaying techniques are considered to have been of industry-standard at the time. No specific audits or reviews have been reviewed as part of this review.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	Odyssey owns an 80% interest in the Tuckanarra Project, comprising two Exploration Licences (E20/782-783), one Mining Licence (M20/527), and seven Prospecting Licences. The licences are currently in the name of Monument Murchison Pty Ltd and Dennis Bosenberg and are in the process of being transferred into the name of Odyssey’s subsidiary, Tuckanarra Resources Pty Ltd.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The tenement package is understood to be in good standing with the WA DMIRS.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Refer to the body of the report.
Geology	Deposit type, geological setting and style of mineralisation.	The Project area is located within the Meekatharra-Wydgee Greenstone belt within the north-eastern Murchison Domain. The majority of greenstones within the Meekatharra-Wydgee belt have been stratigraphically placed within the Polelle Group and the Norie Group of the Murchison Supergroup. The Project area covers Archean basement rocks assigned to the 2815-2805 Ma basal Norie group of the Murchison Supergroup, which covers the eastern margin of the Meekatharra-Wydgee greenstone belt. The Norie group comprises a thick succession of pillowed and massive tholeiitic basalts of the Muroulli Basalt, and conformably overlying and mafic schist and felsic volcanoclastics with interbedded BIF and felsic volcanic rocks of the Yaloginda Formation (Van Kranendonket al,2013). Theserocks arefolded around the

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Criteria	JORC Code explanation	Commentary
		south- plunging Besley Anticline. Adjacent to these rocks are the mafic sequences of the Meekatharra Formation (Polelle Group). Granitoids in the Project area comprise of the Jungar Suite and Annean Supersuite to the east and the Munarra Monzogranite of the Tuckanarra Suite to the west. The Jungar Suite comprises of foliated to strongly sheared K-feldspar-porphyritic monzogranites. These rocks are characterized by strong shear fabrics that suggest they may have been emplaced during, or just before, shearing. The Annean Supersuite includes hornblende tonalite and monzogranitic rocks. The Tuckanarra Suite consists of strongly foliated and locally magmatically layered granodiorite to monzogranitic rocks. The Project is situated within the ‘Meekatharra structural zone’, a major regional, NE-trending shear dominated zone, about 50 to 60km wide, stretching from Meekatharra through the Cue region as far south as Mount Magnet. This major shear zone is dominated by north and northeast-trending folds and shears (e.g. Kohinoor shear). The Mt Magnet fault is the major east- bounding structure of the Meekatharra structural zone. The mineralised zones of the Project are located in the Tuckanarra greenstone belt comprising a series of mafic and inter-banded mafic and iron formations, with a variable component of clastic sediments, (greywackes and minor shales). The sequence is folded into a south‐westerly plunging anticline with a well-developed axial plane cleavage and numerous fractures, bedding parallel faults and shears. The belt extends northwards to Stake Well and east towards the Reedys mining centre. The area has four large open pits, extensive minor gold workings, and prospecting pits principally associated with mafic lithologies and Altered Ferruginous Transitional (AFT) and Altered Ferruginous Fresh (AFF) material which were originally banded iron formations. The magnetite content within the AFT/AFF’s has been destroyed and predominantly altered to an assemblage of hematite with the relic structure of the banded iron intact. Where mineralised veins intersect major competency contrasts such as high magnesium basalt or AFT/AFF, veining becomes layer parallel resulting in larger deposits such as the Bollard and Cable deposits. A number of styles of gold mineralisation have been identified in the area including: • Mineralised AFT and AFF material ± quartz veining (Cable East, Cable Central); • Quartz veins ± altered basalts (Cable West, Lucknow, Maybelle, Maybelle North, Miners’ Dream); and • Gold mineralisation within laterite (Anchor, Bollard, Drogue). Below the base of complete oxidation (~40m) gold mineralisation is commonly seen associated with quartz‐pyrrhotite veins and pyrrhotite replacement of the host rocks. Prospective models for the discovery of additional gold deposits in the area are related to the intersection of shear zones with prospective lithologies.

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Criteria	JORC Code explanation	Commentary
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:  easting and northing of the drill hole collar  elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar  dip and azimuth of the hole  down hole length and interception depth  hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Refer to Appendix 1 for the significant intersections from the GMA RAB program. Material drill results have been included in the body of the report, which is considered appropriate for a brownfields exploration project of this type. Owing to the size of the project holdings, summary plan and long-section diagrams have also been included. The Company is still in the process of compiling exploration information over the project areas and intends to provide additional updates in the future on a project basis
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	Due to the vast amounts of drilling, significant intercepts are reported as down-hole length-weighted averages of grades above approximately 0.5 g/t Au and above a nominal length of 2m. No top cuts have been applied to the reporting of the assay results.
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	Higher grade intervals are included in the reported grade intervals; and have also been split out on a case-by-case basis where relevant.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalent values are used.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	The bulk of the exploration drilling was conducted so that results would be close to orthogonal to the mineralisation as understood at the time; however, the true relationship to the mineralisation is not accurately determined.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Refer to Figures in the body of this announcement and Appendix 1.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Balanced reporting has been used. It is noted that the soils data is still being collated, but the author considers the use of soils data appropriate for reporting broad-scale anomalies for general targeting; as has been undertaken on this project by previous companies under JORC 2004. The exploration results should be considered indicative of mineralisation styles in the region. Exploration results stated indicated highlights of the drilling and are not meant to represent prospect scale mineralisation. As the projects are brownfields exploration targets, and there are large numbers of holes drilled over the region, it is considered appropriate to illustrate mineralised and non-mineralised drill holes by the use of diagrams, with reference to the table of significant intercepts.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk	No other meaningful data is required to be presented other than what has been presented in the body of this announcement.

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Criteria JORC Code explanation Commentary samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. Further work The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

Work planned to enhance the targeting profile for the Project will include ongoing reassessment and re-processing of historical hi-resolution magnetics in the area, potential SAM geophysics or ground magnetics, an updated 3D structural targeting model of the region, confirmation of the drill database through onground work and referral to company reports, re- interpretation of soils data including potential infill lines; and a target ranking exercise over the area.

Target regions are illustrated in figures within the announcement.

Additional work in the future will also focus on validating the current drillhole and soils database and QAQC information through validation checks to original company reports, resampling of historical core (if obtainable), identification of collars in the field and twinning of key drillholes.

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