Encouraging Assay Results at Iberian One Project Spain

Osmond Resources Limited (ASX:OSM) has announced encouraging assay results from the five-hole confirmatory drilling program at the Iberian One Project in Spain. The results include significant mineralisation with high Al2O3 content, indicating the potential for alunite and kaolinite. The Company is also conducting a strategic review to fast-track the development of an EU critical minerals mine, taking advantage of positive EU legislation and funding backdrop. In South Australia, Osmond has completed a sampling program and review of historical drill samples at the Fowler Project.

Executive Commentary on Assay Results

We are pleased with the assay results from Spain regarding our confirmatory drilling program at the Iberian One Project. Importantly, all five drill holes intersected mineralisation comparable to those encountered in historical drilling. We still believe there may be an opportunity to fast-track development activities to deliver a compelling critical minerals opportunity located in the EU.

Summary of Assay Results and Outlook

Osmond Resources is encouraged by the assay results from the confirmatory drilling program at the Iberian One Project in Spain, indicating significant mineralisation with high Al2O3 content. The Company is conducting a strategic review to determine the potential for fast-tracking the development of an EU critical minerals mine. In South Australia, Osmond has completed a sampling program and review of historical drill samples at the Fowler Project, with a focus on the Yumbarra Project as the main exploration target. The Company aims to complete additional analyses and a strategic review focusing on its ability to fast-track development activities in Spain before 30 September 2024. Osmond's outlook includes a focus on the Yumbarra Project in South Australia, engaging a petrology expert for detailed classification and planning for detailed electrical geophysics with a view to undertaking drilling as soon as practical.