Odyssey Marine Exploration Request for Offshore Mineral Lease Sale Advances

Odyssey Marine Exploration, Inc., a U.S.-based ocean exploration and marine resource development leader, received news that the Bureau of Ocean Energy Management’s (BOEM), a department of the U.S. Department of Interior (DOI), has initiated the formal review process for its unsolicited request for a potential marine mineral lease sale in federal waters offshore Virginia.

BOEM’s action highlights the increasing federal focus on responsibly assessing domestic offshore mineral resources. As outlined by BOEM, the next step will be the publication of a Request for Information and Interest (RFI) in the Federal Register inviting stakeholder input.

Although the BOEM review process is the immediate catalyst, Odyssey views this advancement within the broader context of a year marked by accelerating alignment across policy, projects, and financial readiness. Together, these dynamics position the Company for continued momentum and meaningful progress as it moves into 2026.

Project Overview: U.S. Offshore Mineral Lease Request

The proposed lease area is believed to host heavy mineral sands containing titanium, zirconium, rare earth elements (REEs), and phosphate—materials that play an essential role in U.S. national security, advanced manufacturing, and agricultural productivity. In addition, sand and gravel recovered through the process may support coastal resilience and shoreline restoration initiatives.

If Odyssey