Odin Metals Limited announced results from its maiden drill campaign, completed December 2022, at its Wertago Copper Project located in the northern parts of the Company's 100% owned Koonenberry Project. Odin Metals Executive Chairman, Mr. Simon Peters said, "These results from the maiden drill program at Wertago, a part of the greater Koonenberry Project provide valuable information on geology and geometry, which when combined with geophysical and structural analysis will give a greater understanding of the broader Wertago mineralised system. These results will be used to vector toward higher grade and more extensive mineralisation in future exploration programs. The focus will now be combining the structural analysis of the results with existing and additional geophysical surveys in order to prioritise targets for additional drilling.

The results further reinforce belief that the Koonenberry Belt is highly prospective for a number of styles of mineralisation including VMS hosted Cu-Zn-Au-Ag deposits magmatic Ni-Cu-PGE, epithermal Ag-Pb-Cu and orogenic Au".Odin Metals' current exploration program is focussed on developing its district scale Koonenberry Belt project. Odin's tenements cover more than 2,850km2 of the Belt, which is located 80km east of Broken Hill, NSW. The Koonenberry Belt is highly prospective for VMS-hosted Copper and magmatic Ni-Cu-PGE, and contains three highly prospective projects, Grasmere, Cymbric Vale and Wertago, identified to date.Grasmere contains a Mineral Resource of 5.75 million tonnes grading 1.03% Cu, 0.35% Zn, 2.3g/t Ag, & 0.05g/t Au1.

The results for a twelve hole RC drill program for 1,960 metres completed in late December 2022, have been received. The drill program targeted an under-explored volcanic rock package within which were located a number of coincident geophysical and geochemical anomalies as previously announced. Drilling tested four areas of outcropping veins, representing a small portion of the total system, with 11 out of the 12 holes intersecting mineralisation.

Results from the program have provideding valuable data on the mineralogy, geology, and geometry of mineralisation. All drilling was, where possible, followed with a downhole optical and acoustic televiewer survey. This downhole imagery is able to be displayed in 3D GIS software allowing Odin geologists to visually interrogate an RC hole in a similar manner to diamond drilling.

The televiewer survey data also allows structural measurements to be taken across features such as geological contacts and mineralised veins, data that is typically reserved to more expensive diamond drilling methods. The successful deployment of this technique provides increased confidence when planning follow-up drilling and reduces the need for costly, and time-consuming diamond drilling. A key finding gained from analysis of the televiewer data in conjunction with the downhole geochemistry data is the suggestion that the mineralisation at Wertago is likely to be a product of multi-phase polymetallic processes.

Evidence for this is in the correlation of copper mineralisation with quartz veins discordant to lithology, the metal zonation observed, and the structural control displayed by the mineralisation. RC drilling work programs have been lodged with the NSW Resources regulator for approval for an expanded program. The expanded drill program will have the following aims: Follow-up drilling of the Wertago copper mineralisation.

Further drill-testing of copper mineralisation, both along, and across strike over Grasmere Deposit Maiden drill programs at Black Hills and Bedford, both targets that were identified during 2022 soil sampling programs Investigation of a potential Scandium - Cobalt mineralisation corridor as part of Odin's successful bid for the NSW Government's "New Frontiers Cooperative Drilling" grant program. In coordination with the drill program, Odin will take the opportunity to test several new conceptual targets with another round of targeted soil sampling to be concentrated east and south along the Grasmere trend, as well as over the Scopes Ranges in the south which hosts the Bilpa Pb-Zn-Ag anomaly. Odin Metals will also be considering the suitability of various geophysical exploration methods to delineate mineralised trends across its prospects.

In addition, a structural review is currently underway. The review will analyse drilling results, televiewer structural data, and field mapping data. The interpretations derived will be applied to the coming round of exploration activity along Odin's Koonenberry Belt tenure.