# OSM: Orion Resource Demonstrates Grade and Scale Potential Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145820 Publisher: asx Original announcement: 2026-09-29T22:42:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T23:19:15.552Z Atlas analysis updated: 2026-09-29T23:19:15.552Z - Company: Osmond Resources Ltd - Ticker: OSM - Exchange: ASX - Region: Jaén Province, Andalucía, southern Spain - Primary commodity: Titanium - Secondary commodities: Zirconium, Hafnium, Rare earth elements, Rutile, Ilmenite, Monazite, Valuable heavy minerals - Document categories: Resource update, Metallurgy, Drill results - Extracted: 2026-09-29 23:19:16 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Osmond Resources Ltd has announced a maiden JORC-compliant Mineral Resource Estimate for its Orión EU Critical Minerals Project in Spain, totaling 60.0 Mt at 9.39% TiO₂, 3.06% ZrO₂, 624 ppm HfO₂, and 6,274 ppm TREO. The estimate includes a Main Seam of 49.7 Mt, which is the basis for a current Scoping Study, and an Upper Seam. While the resource shows significant scale and high grades for critical minerals, 74% of the total resource is in the Inferred category, and preliminary metallurgical testwork requires further validation. Reasoning: Osmond Resources announced a maiden JORC-compliant Mineral Resource Estimate for its Orión EU Critical Minerals Project, revealing substantial tonnage and high grades for titanium, zirconium, hafnium, and rare earth elements. While the resource demonstrates significant scale and potential, a large portion remains in the Inferred category, and metallurgical testwork is still preliminary, warranting further studies to confirm economic viability. - Positive factor: Maiden Mineral Resource Estimate establishes a significant resource base for critical minerals - Positive factor: JORC compliant reporting with Competent Person sign-off provides credibility - Positive factor: High grades for key commodities like TiO2, ZrO2, and TREO demonstrate potential economic viability - Positive factor: Project is located in the EU, positioning it as a potential future source of critical minerals - Positive factor: Planned drilling aims to expand the MRE and upgrade resource categories - Negative factor: A significant portion of the total resource \(74%\) is in the Inferred category, indicating lower confidence - Negative factor: Metallurgical testwork is preliminary, and overall plant recoveries or final product specifications are not yet demonstrated - Negative factor: The 4.0% TiO2 cut-off was selected by peer analogy and grade distribution, not yet supported by a definitive economic basis - Negative factor: Contained quantities are arithmetic products and do not incorporate mining or metallurgical recovery, product specification, payability or marketability Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 122 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 122. Some facts used in scoring do not have a stored record. ## Resource Estimates (122) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-0) Orión EU Critical Minerals Project · titanium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: titanium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 12.14 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for titanium in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for titanium in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 12.14 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-1) Orión EU Critical Minerals Project · zirconium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zirconium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 4.18 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for zirconium in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for zirconium in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 4.18 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-2) Orión EU Critical Minerals Project · hafnium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: hafnium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 848 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for hafnium in the Main Seam shows a good grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for hafnium in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 848 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-3) Orión EU Critical Minerals Project · total rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: total rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 8595 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for TREO in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for TREO in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 8,595 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-4) Orión EU Critical Minerals Project · magnetic rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: magnetic rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 2488 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for MREO in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for MREO in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 2,488 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-5) Orión EU Critical Minerals Project · titanium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: titanium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 10.86 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for titanium in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for titanium in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 10.86 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-6) Orión EU Critical Minerals Project · zirconium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zirconium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 3.66 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for zirconium in the Main Seam shows a good grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for zirconium in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 3.66 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-7) Orión EU Critical Minerals Project · hafnium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: hafnium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 739 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for hafnium in the Main Seam shows a good grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for hafnium in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 739 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-8) Orión EU Critical Minerals Project · total rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: total rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 7614 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for TREO in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for TREO in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 7,614 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-9) Orión EU Critical Minerals Project · magnetic rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: magnetic rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 2187 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for MREO in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for MREO in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 2,187 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-10) Orión EU Critical Minerals Project · titanium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: titanium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 10 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for titanium in the Main Seam shows a high grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: High grade for titanium in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 10.00 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-11) Orión EU Critical Minerals Project · zirconium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zirconium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 3.3 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for zirconium in the Main Seam shows a good grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Good grade for zirconium in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 3.30 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-12) Orión EU Critical Minerals Project · hafnium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: hafnium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 665 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for hafnium in the Main Seam shows a good grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Good grade for hafnium in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 665 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-13) Orión EU Critical Minerals Project · total rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: total rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 6901 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for TREO in the Main Seam shows a high grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: High grade for TREO in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 6,901 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-14) Orión EU Critical Minerals Project · magnetic rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: magnetic rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 1984 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for MREO in the Main Seam shows a high grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: High grade for MREO in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 1,984 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-15) Orión EU Critical Minerals Project · lanthanum oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lanthanum oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 1554 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for lanthanum oxide in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for lanthanum oxide in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 1,554 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-16) Orión EU Critical Minerals Project · cerium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: cerium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 3459 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for cerium oxide in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for cerium oxide in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 3,459 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-17) Orión EU Critical Minerals Project · praseodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: praseodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 385 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for praseodymium oxide in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for praseodymium oxide in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 385 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-18) Orión EU Critical Minerals Project · neodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: neodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 1979 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for neodymium oxide in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for neodymium oxide in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 1,979 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-19) Orión EU Critical Minerals Project · samarium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: samarium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 238 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for samarium oxide in the Main Seam shows a good grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for samarium oxide in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 238 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-20) Orión EU Critical Minerals Project · europium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: europium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 20 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for europium oxide in the Main Seam contributes to the overall rare earth profile, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Europium oxide present in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 20 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-21) Orión EU Critical Minerals Project · gadolinium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: gadolinium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 165 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for gadolinium oxide in the Main Seam shows a good grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for gadolinium oxide in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 165 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-22) Orión EU Critical Minerals Project · terbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: terbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 22 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for terbium oxide in the Main Seam contributes to the overall rare earth profile, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Terbium oxide present in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 22 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-23) Orión EU Critical Minerals Project · dysprosium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: dysprosium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 102 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for dysprosium oxide in the Main Seam shows a good grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for dysprosium oxide in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 102 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-24) Orión EU Critical Minerals Project · holmium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: holmium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 18 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for holmium oxide in the Main Seam contributes to the overall rare earth profile, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Holmium oxide present in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 18 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-25) Orión EU Critical Minerals Project · erbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: erbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 49 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for erbium oxide in the Main Seam contributes to the overall rare earth profile, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Erbium oxide present in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 49 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-26) Orión EU Critical Minerals Project · thulium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: thulium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 7 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for thulium oxide in the Main Seam contributes to the overall rare earth profile, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Thulium oxide present in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 7 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-27) Orión EU Critical Minerals Project · ytterbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ytterbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 60 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for ytterbium oxide in the Main Seam contributes to the overall rare earth profile, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Ytterbium oxide present in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 60 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-28) Orión EU Critical Minerals Project · lutetium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lutetium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 9 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for lutetium oxide in the Main Seam contributes to the overall rare earth profile, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Lutetium oxide present in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 9 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-29) Orión EU Critical Minerals Project · yttrium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: yttrium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 527 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for yttrium oxide in the Main Seam shows a good grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for yttrium oxide in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 527 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-30) Orión EU Critical Minerals Project · lanthanum oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lanthanum oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 1384 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for lanthanum oxide in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for lanthanum oxide in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 1,384 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-31) Orión EU Critical Minerals Project · cerium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: cerium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 3065 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for cerium oxide in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for cerium oxide in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 3,065 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-32) Orión EU Critical Minerals Project · praseodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: praseodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 341 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for praseodymium oxide in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for praseodymium oxide in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 341 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-33) Orión EU Critical Minerals Project · neodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: neodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 1736 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for neodymium oxide in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for neodymium oxide in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 1,736 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-34) Orión EU Critical Minerals Project · samarium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: samarium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 211 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for samarium oxide in the Main Seam shows a good grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for samarium oxide in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 211 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-35) Orión EU Critical Minerals Project · europium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: europium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 18 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for europium oxide in the Main Seam contributes to the overall rare earth profile, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Europium oxide present in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 18 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-36) Orión EU Critical Minerals Project · gadolinium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: gadolinium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 147 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for gadolinium oxide in the Main Seam shows a good grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for gadolinium oxide in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 147 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-37) Orión EU Critical Minerals Project · terbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: terbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 19 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for terbium oxide in the Main Seam contributes to the overall rare earth profile, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Terbium oxide present in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 19 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-38) Orión EU Critical Minerals Project · dysprosium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: dysprosium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 91 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for dysprosium oxide in the Main Seam shows a good grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for dysprosium oxide in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 91 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-39) Orión EU Critical Minerals Project · holmium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: holmium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 16 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for holmium oxide in the Main Seam contributes to the overall rare earth profile, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Holmium oxide present in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 16 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-40) Orión EU Critical Minerals Project · erbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: erbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 44 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for erbium oxide in the Main Seam contributes to the overall rare earth profile, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Erbium oxide present in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 44 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-41) Orión EU Critical Minerals Project · thulium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: thulium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 7 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for thulium oxide in the Main Seam contributes to the overall rare earth profile, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Thulium oxide present in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 7 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-42) Orión EU Critical Minerals Project · ytterbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ytterbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 53 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for ytterbium oxide in the Main Seam contributes to the overall rare earth profile, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Ytterbium oxide present in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 53 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-43) Orión EU Critical Minerals Project · lutetium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lutetium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 8 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for lutetium oxide in the Main Seam contributes to the overall rare earth profile, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Lutetium oxide present in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 8 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-44) Orión EU Critical Minerals Project · yttrium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: yttrium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 474 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for yttrium oxide in the Main Seam shows a good grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for yttrium oxide in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 474 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-45) Orión EU Critical Minerals Project · lanthanum oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lanthanum oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 1260 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for lanthanum oxide in the Main Seam shows a high grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: High grade for lanthanum oxide in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 1,260 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-46) Orión EU Critical Minerals Project · cerium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: cerium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 2762 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for cerium oxide in the Main Seam shows a high grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: High grade for cerium oxide in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 2,762 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-47) Orión EU Critical Minerals Project · praseodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: praseodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 310 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for praseodymium oxide in the Main Seam shows a good grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Good grade for praseodymium oxide in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 310 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-48) Orión EU Critical Minerals Project · neodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: neodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 1575 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for neodymium oxide in the Main Seam shows a good grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Good grade for neodymium oxide in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 1,575 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-49) Orión EU Critical Minerals Project · samarium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: samarium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 191 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for samarium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Samarium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 191 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-50) Orión EU Critical Minerals Project · europium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: europium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 16 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for europium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Europium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 16 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-51) Orión EU Critical Minerals Project · gadolinium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: gadolinium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 134 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for gadolinium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Gadolinium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 134 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-52) Orión EU Critical Minerals Project · terbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: terbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 18 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for terbium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Terbium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 18 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-53) Orión EU Critical Minerals Project · dysprosium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: dysprosium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 83 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for dysprosium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Dysprosium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 83 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-54) Orión EU Critical Minerals Project · holmium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: holmium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 15 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for holmium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Holmium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 15 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-55) Orión EU Critical Minerals Project · erbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: erbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 40 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for erbium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Erbium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 40 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-56) Orión EU Critical Minerals Project · thulium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: thulium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 6 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for thulium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Thulium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 6 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-57) Orión EU Critical Minerals Project · ytterbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ytterbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 48 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for ytterbium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Ytterbium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 48 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-58) Orión EU Critical Minerals Project · lutetium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lutetium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 8 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for lutetium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Lutetium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 8 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-59) Orión EU Critical Minerals Project · yttrium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: yttrium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 438 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for yttrium oxide in the Main Seam contributes to the overall rare earth profile and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Yttrium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 438 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-60) Orión EU Critical Minerals Project · rutile #### Identity - Project: Orión EU Critical Minerals Project - Commodity: rutile - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 10.1 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for rutile in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for rutile in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 10.1 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-61) Orión EU Critical Minerals Project · ilmenite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ilmenite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 3.8 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for ilmenite in the Main Seam shows a good grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for ilmenite in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 3.8 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-62) Orión EU Critical Minerals Project · zircon #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zircon - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 6.2 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for zircon in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for zircon in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 6.2 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-63) Orión EU Critical Minerals Project · monazite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: monazite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 1.2 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for monazite in the Main Seam shows a good grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for monazite in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 1.2 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-64) Orión EU Critical Minerals Project · valuable heavy minerals #### Identity - Project: Orión EU Critical Minerals Project - Commodity: valuable heavy minerals - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:a4b708ac2265f6b07a99 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2000000 - Grade: 21.4 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Measured resource for VHM in the Main Seam shows a high grade, indicating strong confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for VHM in the Measured category - Positive factor: Measured category indicates high geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 21.4 Context: 2.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-65) Orión EU Critical Minerals Project · rutile #### Identity - Project: Orión EU Critical Minerals Project - Commodity: rutile - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 9.1 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for rutile in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for rutile in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 9.1 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-66) Orión EU Critical Minerals Project · ilmenite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ilmenite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 3.4 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for ilmenite in the Main Seam shows a good grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for ilmenite in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 3.4 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-67) Orión EU Critical Minerals Project · zircon #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zircon - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 5.4 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for zircon in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for zircon in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 5.4 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-68) Orión EU Critical Minerals Project · monazite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: monazite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 1.1 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for monazite in the Main Seam shows a good grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: Good grade for monazite in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 1.1 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-69) Orión EU Critical Minerals Project · valuable heavy minerals #### Identity - Project: Orión EU Critical Minerals Project - Commodity: valuable heavy minerals - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:068ced341a951a2d3512 - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 11900000 - Grade: 19 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for VHM in the Main Seam shows a high grade, indicating reasonable confidence and potential for economic extraction, contributing significantly to the maiden MRE. - Positive factor: High grade for VHM in the Indicated category - Positive factor: Indicated category indicates reasonable geological confidence - Positive factor: Part of a maiden MRE for critical minerals Evidence · table > 19.0 Context: 11.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-70) Orión EU Critical Minerals Project · rutile #### Identity - Project: Orión EU Critical Minerals Project - Commodity: rutile - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 8.3 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for rutile in the Main Seam shows a high grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: High grade for rutile in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 8.3 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-71) Orión EU Critical Minerals Project · ilmenite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ilmenite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 3.2 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for ilmenite in the Main Seam shows a good grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Good grade for ilmenite in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 3.2 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-72) Orión EU Critical Minerals Project · zircon #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zircon - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 4.9 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for zircon in the Main Seam shows a good grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Good grade for zircon in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 4.9 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-73) Orión EU Critical Minerals Project · monazite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: monazite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 1 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for monazite in the Main Seam shows a good grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: Good grade for monazite in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 1.0 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-74) Orión EU Critical Minerals Project · valuable heavy minerals #### Identity - Project: Orión EU Critical Minerals Project - Commodity: valuable heavy minerals - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:6a4efc68c279b0e4b16e - Deposit or zone: Main Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 35900000 - Grade: 17.4 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for VHM in the Main Seam shows a high grade and adds substantial tonnage to the maiden MRE, but its lower confidence category requires further drilling for upgrade. - Positive factor: High grade for VHM in the Inferred category - Positive factor: Adds significant tonnage to the maiden MRE for critical minerals - Negative factor: Inferred category indicates lower geological confidence Evidence · table > 17.4 Context: 35.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-75) Orión EU Critical Minerals Project · titanium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: titanium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 5.33 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for titanium in the Upper Seam provides additional tonnage at a good grade, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Good grade for titanium in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 5.33 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-76) Orión EU Critical Minerals Project · zirconium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zirconium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 1.42 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for zirconium in the Upper Seam provides additional tonnage, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Zirconium present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 1.42 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-77) Orión EU Critical Minerals Project · hafnium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: hafnium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 267 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for hafnium in the Upper Seam provides additional tonnage, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Hafnium present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 267 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-78) Orión EU Critical Minerals Project · total rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: total rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 2069 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for TREO in the Upper Seam provides additional tonnage at a good grade, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Good grade for TREO in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 2,069 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-79) Orión EU Critical Minerals Project · magnetic rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: magnetic rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 580 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for MREO in the Upper Seam provides additional tonnage at a good grade, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Good grade for MREO in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 580 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-80) Orión EU Critical Minerals Project · titanium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: titanium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 4.95 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for titanium in the Upper Seam provides additional tonnage at a good grade, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Good grade for titanium in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 4.95 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-81) Orión EU Critical Minerals Project · zirconium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zirconium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 1.26 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for zirconium in the Upper Seam provides additional tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Zirconium present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 1.26 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-82) Orión EU Critical Minerals Project · hafnium #### Identity - Project: Orión EU Critical Minerals Project - Commodity: hafnium - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 309 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for hafnium in the Upper Seam provides additional tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Hafnium present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 309 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-83) Orión EU Critical Minerals Project · total rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: total rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 2067 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for TREO in the Upper Seam provides additional tonnage at a good grade, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Good grade for TREO in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 2,067 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-84) Orión EU Critical Minerals Project · magnetic rare earth oxides #### Identity - Project: Orión EU Critical Minerals Project - Commodity: magnetic rare earth oxides - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 576 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for MREO in the Upper Seam provides additional tonnage at a good grade, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Good grade for MREO in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 576 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-85) Orión EU Critical Minerals Project · lanthanum oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lanthanum oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 380 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for lanthanum oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Lanthanum oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 380 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-86) Orión EU Critical Minerals Project · cerium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: cerium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 814 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for cerium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Cerium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 814 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-87) Orión EU Critical Minerals Project · praseodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: praseodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 92 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for praseodymium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Praseodymium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 92 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-88) Orión EU Critical Minerals Project · neodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: neodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 457 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for neodymium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Neodymium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 457 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-89) Orión EU Critical Minerals Project · samarium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: samarium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 58 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for samarium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Samarium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 58 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-90) Orión EU Critical Minerals Project · europium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: europium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 5 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for europium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Europium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 5 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-91) Orión EU Critical Minerals Project · gadolinium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: gadolinium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 40 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for gadolinium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Gadolinium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 40 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-92) Orión EU Critical Minerals Project · terbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: terbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 5 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for terbium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Terbium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 5 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-93) Orión EU Critical Minerals Project · dysprosium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: dysprosium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 26 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for dysprosium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Dysprosium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 26 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-94) Orión EU Critical Minerals Project · holmium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: holmium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 5 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for holmium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Holmium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 5 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-95) Orión EU Critical Minerals Project · erbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: erbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 14 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for erbium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Erbium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 14 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-96) Orión EU Critical Minerals Project · thulium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: thulium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 2 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for thulium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Thulium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 2 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-97) Orión EU Critical Minerals Project · ytterbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ytterbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 19 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for ytterbium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Ytterbium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 19 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-98) Orión EU Critical Minerals Project · lutetium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lutetium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 3 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for lutetium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Lutetium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 3 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-99) Orión EU Critical Minerals Project · yttrium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: yttrium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 149 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for yttrium oxide in the Upper Seam contributes to the overall rare earth profile, indicating reasonable confidence, though it is not part of the current Scoping Study. - Positive factor: Yttrium oxide present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 149 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-100) Orión EU Critical Minerals Project · lanthanum oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lanthanum oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 382 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for lanthanum oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Lanthanum oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 382 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-101) Orión EU Critical Minerals Project · cerium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: cerium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 814 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for cerium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Cerium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 814 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-102) Orión EU Critical Minerals Project · praseodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: praseodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 91 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for praseodymium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Praseodymium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 91 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-103) Orión EU Critical Minerals Project · neodymium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: neodymium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 452 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for neodymium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Neodymium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 452 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-104) Orión EU Critical Minerals Project · samarium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: samarium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 58 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for samarium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Samarium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 58 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-105) Orión EU Critical Minerals Project · europium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: europium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 5 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for europium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Europium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 5 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-106) Orión EU Critical Minerals Project · gadolinium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: gadolinium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 40 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for gadolinium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Gadolinium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 40 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-107) Orión EU Critical Minerals Project · terbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: terbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 5 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for terbium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Terbium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 5 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-108) Orión EU Critical Minerals Project · dysprosium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: dysprosium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 27 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for dysprosium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Dysprosium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 27 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-109) Orión EU Critical Minerals Project · holmium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: holmium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 5 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for holmium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Holmium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 5 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-110) Orión EU Critical Minerals Project · erbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: erbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 15 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for erbium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Erbium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 15 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-111) Orión EU Critical Minerals Project · thulium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: thulium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 2 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for thulium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Thulium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 2 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-112) Orión EU Critical Minerals Project · ytterbium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ytterbium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 18 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for ytterbium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Ytterbium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 18 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-113) Orión EU Critical Minerals Project · lutetium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: lutetium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 3 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for lutetium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Lutetium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 3 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-114) Orión EU Critical Minerals Project · yttrium oxide #### Identity - Project: Orión EU Critical Minerals Project - Commodity: yttrium oxide - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 151 - Grade Unit: ppm - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for yttrium oxide in the Upper Seam contributes to the overall rare earth profile and adds substantial tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Yttrium oxide present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 151 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-115) Orión EU Critical Minerals Project · rutile #### Identity - Project: Orión EU Critical Minerals Project - Commodity: rutile - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 4.4 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for rutile in the Upper Seam provides additional tonnage, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Rutile present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 4.4 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-116) Orión EU Critical Minerals Project · ilmenite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ilmenite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 1.7 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for ilmenite in the Upper Seam provides additional tonnage, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Ilmenite present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 1.7 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-117) Orión EU Critical Minerals Project · zircon #### Identity - Project: Orión EU Critical Minerals Project - Commodity: zircon - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 2.1 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for zircon in the Upper Seam provides additional tonnage, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Zircon present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 2.1 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-118) Orión EU Critical Minerals Project · monazite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: monazite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 0.3 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for monazite in the Upper Seam provides additional tonnage, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: Monazite present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 0.3 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-119) Orión EU Critical Minerals Project · valuable heavy minerals #### Identity - Project: Orión EU Critical Minerals Project - Commodity: valuable heavy minerals - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:c91ad110f1bb82deb23b - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1400000 - Grade: 8.5 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Indicated resource for VHM in the Upper Seam provides additional tonnage, contributing to the overall resource base, though it is not part of the current Scoping Study. - Positive factor: VHM present in the Indicated category - Positive factor: Adds to the overall resource base for critical minerals - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 8.5 Context: 1.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-120) Orión EU Critical Minerals Project · rutile #### Identity - Project: Orión EU Critical Minerals Project - Commodity: rutile - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 4.1 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for rutile in the Upper Seam provides additional tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Rutile present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 4.1 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/osm-orion-resource-demonstrates-grade-and-scale-potential--5becbc09-459f-496b-881c-6ed97e9821bf#fact-resource-facts-121) Orión EU Critical Minerals Project · ilmenite #### Identity - Project: Orión EU Critical Minerals Project - Commodity: ilmenite - Region: spain - Reported Region: Jaén Province, Andalucía, southern Spain - Ticker: OSM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: José Antonio Zuazo Osinaga - Resource group id: resource:cc4a5a5d96d38bcb6e95 - Deposit or zone: Upper Seam - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 8800000 - Grade: 1.6 - Grade Unit: % - Cutoff Grade: 4 - Cutoff Unit: % TiO₂ #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: ALS and SGS #### Location - CRS: ETRS89 Zone 30 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Inferred resource for ilmenite in the Upper Seam provides additional tonnage, but its lower confidence category and exclusion from the current Scoping Study reduce its immediate materiality. - Positive factor: Ilmenite present in the Inferred category - Positive factor: Adds significant tonnage to the overall resource base for critical minerals - Negative factor: Inferred category indicates lower geological confidence - Negative factor: Upper Seam not included in current Scoping Study Evidence · table > 1.6 Context: 8.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.