Orión Scoping Study Advances Case for Eu’s First Rare Earths, Zircon and

Osmond Resources Limited (ASX: OSM) (OSM or the Company) is pleased to announce the compelling outcomes of the Scoping Study (Scoping Study or Study) for its Orión EU Critical Minerals Project (Orión or the Project), located in Jaén Province, Andalucía, Southern Spain, ~235km south of Madrid.

Highlights

• Scoping Study for Orión EU Critical Minerals delivers compelling outcomes
  • Low Capex – US$299m (inclusive of 25% contingency)
  • Unlevered Post Tax NPV8 – US$2.31bn
  • Unlevered Post Tax IRR – 145%
  • Averaged EBITDA per annum US$531m
  • FCF payback – 6 months
  • Life-of-Mine C1 cash cost, net of by-product credits, of -US$12.67 per tonne of ROM
• Strategic EU supply – Module 1 equates to ~6% of forecast 2030 EU NdPr, ~24% of zirconium and ~8% of titanium demand; 3 of 17 Strategic and 5 of 34 Critical Raw Materials1 . Annual monazite concentrate production forecast to contain 2,160tpa NdPr oxide, 94tpa Dy2O3 and 24tpa Tb₄O₇
• Owner operated underground room & pillar mine with minimal surface disturbance
• Established technologies for monazite, zircon, rutile and ilmenite recoveries underpin preliminary flowsheet
• Upside potential in further studies, not included in the Scoping Study:
  • Separation of a near-pure rutile product from the titanium concentrate stream
  • Silica sand sales
  • Contract mining to reduce capex
• Upside potential from downstream opportunities:
  • Rare earth oxide production
  • Titanium and zirconium metal powder production
  • Hafnium metal production
  • Silicon metal production
• Next Steps
  • Additional drilling expected to increase scale and confidence
  • Upgraded Mineral Resource Estimate
  • Updated Scoping Study
  • Complete current PFS-level metallurgical testwork program
  • Applications for Andalusian, Spanish and EU project support schemes
  • Progress studies to support downstream opportunities

The Study evaluates an owner operated, underground room & pillar mine, accessed by decline, and a 2Mtpa processing plant (Module 1) producing monazite, zircon and mixed titanium mineral concentrates using conventional gravity, magnetic, electrostatic and flotation separation with filtered tailings to be backfilled.

Key Scoping Study Outcomes

Next Steps

• Additional drilling: A campaign of 13 drill holes is expected to commence shortly. The objective of the drilling campaign is to upgrade Resource confidence and to increase the size of the resource.
• Updated Scoping Study: Update the current study with the upgraded MRE.
• PFS level studies: Pre-Feasibility Study testwork is already underway at Nagrom, targeting premiumgrade zircon (~66% ZrO2), a near-pure rutile stream and an upgraded monazite concentrate.
• Downstream initiatives: Progress is continuing with the Company’s various downstream initiatives, including the rare earth oxide (REO) studies with Técnicas Reunidas.
• Orión Recognition in EU, Spain and Andalucia: Now that the Scoping Study is complete, Osmond intends to apply for various schemes within the EU, Spain and Andalucia to obtain recognition of the strategic importance…