Encounter Resources (ENR) Investor Presentation summary

Corporate overview and financials

• Market capitalisation stands at approximately $158M, with an enterprise value of $148M and cash of ~$10M as of September 2024.

• Share price was $0.35 on 7 Nov 2024, with 452M shares on issue and 17M options.

• Major shareholders include IGO, Chalice Mining, and Paradice Investment Management, each holding around 6%.

• Board and technical team feature experienced industry professionals, including an Executive Chairman and senior geologists.

Exploration portfolio and strategy

• Holds early mover positions in world-class and emerging mineral belts, focusing on copper, gold, niobium, and REE.

• Maintains a commanding land position in the West Arunta mineral province, targeting large-scale discoveries.

• High-impact, 100%-owned projects in Western Australia and Northern Territory, with partnerships funding major copper projects.

• Consistent in-ground exploration investment and collaboration with major mining companies.

Aileron Project – West Arunta focus

• Aileron project targets carbonatite-hosted niobium, REE, and IOCG copper-gold, with field camp re-established in April 2024.

• Over 45,000m of drilling completed in 2024, including aircore, RC, and diamond drilling.

• Aircore drilling has outlined shallow, high-grade niobium mineralisation across multiple targets, validating the targeting model.

• RC and diamond drilling are advancing resource definition and metallurgical studies.