Odyssey Marine Exploration Welcomes U.S. Government Recognition of Phosphate as a Critical Mineral, Strengthening Strategic Phosphate Projects

TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration, Inc. (NASDAQ: OMEX), a U.S.-based ocean exploration and marine resource development leader, applauds the U.S. Government’s formal inclusion of phosphate on the nation’s Critical Minerals List, as defined by the U.S. Geological Survey (USGS). This designation advances America’s resource security and reinforces Odyssey’s strategic focus on responsibly developing domestic phosphate resources.

“This federal recognition of phosphate as critical for U.S. manufacturing, agriculture, and national security underscores our belief in the strategic importance of this resource,” said Mark Gordon, Chairman and CEO of Odyssey Marine Exploration. “One of our long-standing colleagues, Tim Cotton, CEO of Novaphos, alongside other industry voices, has been instrumental in advocating for phosphate’s inclusion. Odyssey’s ongoing work directly supports U.S. priorities to strengthen domestic supply chains and responsibly advance ocean mineral development.”

Phosphate’s designation as a critical mineral reinforces the importance of developing secure, sustainable sources to reduce import reliance and ensure resilience in agriculture and manufacturing. This recognition also aligns with the U.S. government’s broader momentum to expand access to ocean-based mineral resources through science-led exploration and responsible permitting pathways.

Odyssey is building a diversified portfolio of projects designed to address global challenges in food security, clean energy, and resource independence—with phosphate as a central focus. The company currently has two active projects prospective for phosphate and continues to apply its proprietary Global Prospectivity Analysis to identify additional high-potential regions within favorable jurisdictions.

PHOSAGMEX, Odyssey’s joint venture with Capital Latinoamericano (“CapLat”), aims to establish a North American fertilizer supply chain that enhances food security and supports sustainable agricultural practices.

In the United States, Odyssey recently submitted an Unsolicited Request for Lease Sale to the Bureau of Ocean Energy Management (BOEM) for an area within the U.S. Outer Continental Shelf (OCS) off the Mid-Atlantic coast. The proposed area is believed to be highly prospective for phosphate, as well as other critical minerals—including titanium, zirconium, and rare earth elements—that are essential for defense, clean energy, and advanced manufacturing.

About Novaphos

Novaphos Inc. is changing how the world makes phosphate, modernizing production in ways not seen for decades. Novaphos proprietary and patented processes are low-waste, low-cost, proven, and highly scalable: safer for the environment and better for business. We have two core technologies to change how phosphoric acid is made. Our phosphate process enables production of high-quality phosphoric acid from low-quality phosphate rock, even mine tailings, to make high-quality phosphoric acid. Our phosphogypsum reprocessing technology allows existing phosphoric acid producers to recover and reuse sulfur from this large-volume and problematic waste. Both processes produce a useful calcium silicate construction aggregate instead of phosphogypsum. Novaphos phosphoric acid can be used in agriculture and industry, including in LFP battery cathodes. The process is scalable, energy-efficient, and produces a useful calcium silicate construction aggregate byproduct instead of phosphogypsum.

For more information, go to www.novaphos.com.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) is a global leader in ocean exploration with over 30 years of experience. The company is committed to the sustainable and responsible discovery, validation, and advancement of seafloor critical mineral projects. Its diversified portfolio spans subsea phosphate deposits for fertilizers and polymetallic nodules for battery metals—addressing global priorities from food security to energy and technology innovation. Offering comprehensive research, marine operations, and regulatory compliance support, Odyssey works with governments and seafloor rights holders worldwide. Odyssey develops its projects in collaboration with a global network of partners, academics, and industry professionals who share its commitment to environmentally sound solutions for obtaining minerals that address present and future global challenges. Learn more at www.odysseymarine.com.

Forward Looking Information

Odyssey Marine Exploration believes the information set forth in this Press Release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors" in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the Securities and Exchange Commission on March 31, 2025. The financial and operating projections as well as estimates of mining assets are based solely on the assumptions developed by Odyssey that it believes are reasonable based upon information available to Odyssey as of the date of this release. All projections and estimates are subject to material uncertainties and should not be viewed as a prediction or an assurance of actual future performance. The validity and accuracy of Odyssey's projections will depend upon unpredictable future events, many of which are beyond Odyssey's control and, accordingly, no assurance can be given that Odyssey's assumptions will prove true or that its projected results will be achieved.