Osmond Expands EU Rutile, Zircon and Rare Earth Project

HIGHLIGHTS

• Orion EU Critical Minerals Project area expanded by 160% to 228km²
  
  
• Three new permits abutting existing Orion permit in application totalling 142km²
  
  
• Extensive geological mapping activities provided the catalyst for the applications
  
  
• Focus now turns to drilling with first 15 drill holes expected to cost less than A$1.5m
  
  
• Strong cash position enhanced with CEO option exercise generating A$437k
  
  
• Cash at bank as at 30 June 2025 is A$4.3m

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Osmond Resources Limited (ASX: OSM) (Osmond or the Company) is pleased to confirm it has three additional permits in application to expand the Orion EU Critical Minerals Project by 142 km2. The additional permits represent a 160% increase in Project area. Once all permits are awarded the Project area will be 228 km2 (refer Figure 1 below).

Figure 1 – Map showing Orion EU Critical Minerals Project location

Orion EU Critical Minerals Project
Overview
The Orion EU Critical Minerals Project (the Project) is located in Jaén Province, Andalucía, Southern Spain (refer Figure 1 above). The Project includes 756 Spanish mining units (cuadrículas mineras) covering an area of 228 km2.

It is a siliciclastic geological system with various layers rich in critical minerals including rutile (titanium), zircon, hafnium, and rare earth elements. The Project area was explored for thorium and uranium in the 1950s and 1960s and includes a historic galena mine.

Extensive geological mapping activities have been completed across the three target zones of the Orion permit. The activities have identified multiple Ti-Zr-REE rich layers across a wide area of the Project (refer ASX announcements dated 6 September 2024, 19 November 2024, 28 January 2025, 7 April 2025 and 19 June 2025).

The activities have also established mineralised outcrops over a 12km lateral extent (refer figure 2 below).

Figure 2 – Map showing lateral extent of mineralised outcrops

Project Expansion
As a direct result of geological mapping activities and the assay results referred to above, the Company’s geological team believes there is the possibility the mineralised layers may continue to the north, south and west of the current Orion permit. With this in mind, the Company has been able to make application for three additional permits covering these areas. The additional permits total 468 Spanish mining units or 142 km2. This has increased the Project area by 160% to 227.8km2.

Drilling Commitment
The current geological interpretation is subject to drilling success and the maiden drill program planned to confirm continuity of mineralised seams across all three target zones. The Company has received drilling quotes for an initial 15 hole program and can confirm the total financial commitment is not expected to exceed A$1.5m.

Option Exercise and Cash Position
The Company is pleased to confirm receipt of $437,500 from the CEO for the exercise of share options expiring on 30 June 2025.

The additional cash takes the Company’s cash at bank as at 30 June 2025 to $4.3m.

Link to ASX Release:  https://bit.ly/3HYXCsa

-Ends-

Investor and Media contact:

Elvis Jurcevic | Investor Relations
[email protected]
+61 408 268 271