Encounter Resources (ENR) AGM 2025 Presentation summary

Strategic positioning and resource growth

• Holds a dominant land position in the West Arunta, a highly prospective mineral province in Australia, with a focus on niobium, rare earth elements (REE), and copper-gold projects.

• Initial resource at Aileron: 19.2Mt @ 1.74% Nb2O5, shallow, high-grade, and open along strike and at depth, with infill and extensional drilling underway to expand resources.

• Well-funded with approximately $37 million in cash to advance exploration and development, and has made strategic hires in metallurgy, development studies, and marketing.

• Substantial expansion of exploration activity planned for 2026, leveraging multi-rig programs and geophysics.

• Collaborates with Tier 1 exploration teams and maintains a track record of successful project execution.

Project highlights and exploration results

• West Arunta hosts globally significant, high-grade niobium and REE resources, with carbonatite-hosted mineralisation and low discovery costs (~A$40/t Nb).

• Multiple high-grade drill intercepts at Green and Crean prospects, including 85m @ 3.1% Nb2O5 and 24m @ 3.0% Nb2O5 with REE credits.

• Northern carbonatite shows elevated dysprosium/terbium, and several holes report strong TREO grades, indicating REE potential.

• Initial metallurgical studies suggest conventional processing is viable for high-grade concentrate production.

• Airborne EM and geophysics are enhancing copper, niobium, and REE targeting.

Copper-gold portfolio and regional upside

• 100% owned copper-gold projects in the Paterson Province, WA, including Yeneena and Lamil, with proven mineral systems and high-impact exploration results.

• Yeneena's Tyrell prospect has an initial inferred MRE of 2.9Mt @ 0.8% Cu, with high-grade zones and an 8km Parbo copper system.

• Haddon prospect features AEM anomalies and end-of-hole gossans with strong silver, copper, lead, and zinc anomalism; recent RC drilling completed with assays pending.

• Lamil project, near Telfer mine, has a +5km mineralised corridor with multiple high-grade copper-gold intersections and scale potential.

• Copper projects have a track record of attracting leading industry partners and offer significant upside in underexplored systems.