Coda Minerals Ltd. announced the results of a positive Scoping Study ("Study") completed on the sedimentary copper-cobalt mineralisation at its 100%-owned Elizabeth Creek Copper-Cobalt Project in South Australia. The Study has delivered compelling financial metrics and technical outcomes, and the Coda Minerals Board has approved the commencement of next-stage Pre-Feasibility Study (PFS) work. The Elizabeth Creek Project comprises three granted Exploration Licences covering an area of 701km2 in the Olympic Dam Copper Province, Australia's most productive copper belt.

The project lies in the heart of an active mining region, being located 100km south of BHP Billiton's Olympic Dam copper- gold-uranium mine and 50km west of OZ Minerals' Carrapateena copper-gold project, with access to high-quality infrastructure. It is located 35km south-east of the town of Woomera and 135km north-west of Port Augusta in South Australia. Coda's primary focus at Elizabeth Creek is on the development of the sedimentary copper-cobalt mineralisation (which forms the subject of this Study) as the basis for a sustainable long-term mining and processing operation.

In parallel, the Company is also continuing to explore for deeper iron-oxide copper-gold (IOCG) mineralisation following the discovery of the Emmie IOCG copper-gold deposit in June 2021. For the avoidance of doubt, the contents, technical information and forecast financial information in this Scoping Study focus solely on the copper-cobalt mineralisation and do not include any reference to or inclusion of the IOCG mineralisation. The Study confirms the potential for a globally competitive, long-life mine based on the copper-cobalt mineralisation contained within the MG14, Windabout and Emmie Bluff deposits.

The Study is based on low-risk, conventional open pit and underground mining techniques with processing using conventional flotation and downstream processing common to copper-cobalt projects globally. The project is well supported for infrastructure and boasts excellent ESG credentials, being located in a stable, tier-1 mining jurisdiction with access to the nation's most renewable power grid.