Osmond Resources Limited provided an update to shareholders on the Company's recent exploration activities across South Australia and Victorian Projects. Several highly prospective targets have emerged from the ongoing review for the reprocessing and modelling of existing AEM and magnetic data. Osmond have been able to access high quality and detailed airborne and ground geophysics data, which includes 100m & 40m flight line Magnetic and Radiometric data, 200m flight line Airborne Electro-Magnetic data, broad spaced gravity and high resolution Gradient Array IP survey data.

These have been used to create an integrated 3D inversion model of the Yumbarra Project Area. The Company has engaged experienced geophysical consultant, David McInnes, to undertake a review of all available geophysical data across the South Australian tenements. Magnetic and conductive anomalies have been identified in locations, inferred to be the basal contact of the ultra-mafic intrusive.

Other significant conductors are located in the demagnetised core and hinge zones of the ultramafic complex. A detailed 915 station helicopter supported ground based gravity program has been designed to cover the Yumbarra Project Area to aid in basement lithological and structural interpretation and to identify any potential dense metallic sulphide deposits. The spacing of the gravity stations will range from 250m to 1,000m.

This will significantly improve the resolution versus the existing 7km spaced stations. The gravity survey is scheduled for late October 2022 with the regulatory approvals process currently underway. The survey will take approximately 4 weeks to complete.

At the Fowler Project preliminary findings of the ongoing geophysical review has identified a strong coincident gravity and magnetic anomaly located in the northern area of tenement EL6604 on the same trend as IGO Limited nickel prospect Mystic. EL6604 is one of the two tenements held by Osmond in JV with Kimba Minerals Pty Ltd. A follow up program of detailed ground based gravity is currently being designed and expected to occur 4th quarter 2022 or 1st quarter 2023 depending on contractor availability.