Enterprise Metals Limited · ASX:ENT

Enterprise Metals — Shareholder Meeting (November 2014)

31 slides from Enterprise Metals's shareholder meeting presentation, Nov 26, 2014

1. Slide 1: AGM Presentation

   AGM Presentation 26 November 2014

2. Slide 2: Important Information

   Important Information Disclaimer  This document has been prepared by Enterprise Metals Ltd (“Enterprise” or “the Company”) to provide information on the Company’s Projects to investors and potential new shareholders. This presentation should be read in conjunction with other public announcements an

3. Slide 3: ENT: The Next Sirius or Sandfire?

   ENT: The Next Sirius or Sandfire? Enterprise is seeking  Magmatic nickel-copper sulphide deposits (Fraser Range)  Volcanic & sediment hosted basemetal sulphide deposits (Doolgunna)  Greenstone hosted gold & base metal deposits (Darlot) “ENT’s Plato is the most advanced junior-held Nova-style targ

4. Slide 4: Tightly held – low enterprise value

   Tightly held – low enterprise value Capital Structure Share Price & Volume – Oversold ? Share Price (25 Nov2014) A$ 0.04 Shares on Issue # 265,908,276 Options on Issue 1 # 36,262,500 Market Capitalisation A$m $10.6m Cash 2 A$m $0.944m Debt A$m Nil Enterprise Value 3 A$m $9.6m 1. Three tranches of op

5. Slide 5: Directors & Senior Management

   Directors & Senior Management Name Role Background Dr Jingbin Wang Non-Executive Dr Wang is Executive Director of China Nonferrous Metals Resource Geological Survey, a position he has held BSc, MSc, PhD Chairman since 2003. He has also held the title of Vice-President of the China Nonferrous Metals

6. Slide 6: Overview

   OVERVIEW  Significant landholding in 3 of the best exploration addresses  Fraser Range 100%  Doolgunna 100%  Darlot 100%, but IGO funding to earn up to 70-80%  Extensive geophysical & geochemical exploration already undertaken in all areas  Two high-impact drilling programs completed in early

7. Slide 7: Premier Fraser Range Project (100% owned)

   Premier Fraser Range Project (100% owned) History of the Fraser Range:  1965-1971: Newmont  1995-2008: Creasy et al  2004: Creasy INCO JV  2012: Sirius (Nova discovery) ENT 2009-2013:  Excellent & large landholding  Aeromag, soil sampling & AEM ENT 2014:  Maiden RC/DC drilling May  Nickel-co

8. Slide 8: Gravity Ridge – The Choice Area

   Gravity Ridge – The Choice Area  Regional gravity image highlights the Fraser Orogenic Complex as the place to be  ENT & SIR’s ground is largely on the high-gravity area  The high-gravity areas (red- orange colours) equate to the more dense iron rich (mafic /ultramafic) rocks, which are highly pr

9. Slide 9: Multiple Target Areas - close to SIR Tenure

   Multiple Target Areas - close to SIR Tenure ENT ground is well placed with respect to Sirius’ tenements, over core of gravity high, interpreted to be a large layered mafic complex Sirius Resources’ Tenements & JV’s Source: Sirius Resources NL ASX release 20 November 2013 ASX: ENT | PAGE 9

10. Slide 10: Geochemistry Prioritises Areas

    Geochemistry Prioritises Areas  Multi-element regional soil geochemical analysis completed [800m x 400m]  Coincident multiple Ni-Cu-Co results from six target areas  Infill sampling completed [200m x 100m]  Geochemically anomalous areas coincident with magnetic/AEM features  Plato selected as 1

11. Slide 11: Plato - First Target Tested

    Plato - First Target Tested  Plato soil geochem data over Ni magnetic “low”, co-incident with elevated nickel, copper, cobalt  Magnetic “low” interpreted as olivine gabbronorite unit/intrusive within mafic complex ENT: ASX release 30 July 2014 ASX: ENT | PAGE 11

12. Slide 12: Plato Maiden Drilling Program

    Plato Maiden Drilling Program  Initial success with RC drilling From To Interval Ni Cu Co S MgO PLRC003 (m) (m) (m) (ppm) (ppm) (ppm) (%) (%) 208 270 62 2,100 596 120 0.75 13.9 Incl. 231 251 20 2,970 909 145 1.15 14.7 Incl. 231 234 3 3,970 1,123 170 1.45 15.2 Incl. 246 247 1 3,748 1,480 147 1.48 12

13. Slide 13: HeliTEM: Deep weathering & palaeochannels

    HeliTEM: Deep weathering & palaoechannels  Ni/Cu sulphides in olivine gabbronorite at Plato  Olivine gabbronorites more easily weathered due to olivine and sulphide content  HeliTEM survey identified areas of deeper weathering & shallow palaeochannels, where soil sampling may be ineffective  FLE

14. Slide 14: Fraser Range – Multiple Prospects

    Fraser Range – Multiple Prospects  Plato: Ni/Cu sulphides in olivine gabbronorite unit/intrusive within layered mafic complex  Olivine gabbronorite characterised by distinct magnetic lows  29 Fixed Loop EM surveys completed over various targets Aug/Sept 2014  Sirius pursuing same model ENT: ASX

15. Slide 15: Fraser Range – Multiple Prospects

    Fraser Range – Multiple Prospects  Plato: Ni/Cu sulphides in olivine gabbronorite unit/intrusive within layered mafic complex  Olivine gabbronorite characterised by distinct magnetic lows  FLEM surveys locate conductors at Plato, Plato East, Oceanus & Highway ENT: ASX release 27 July, 20 August 2

16. Slide 16: Plato Geophysics

    Plato Geophysics  Fixed Loop EM showed Conductor at Plato South & Plato East  PLRC7-12 Results awaited DHEM planned  Plato East Still to be tested Plan of Ni Soil Geochemistry Proposed RC/DC Drilling 350m deep holes 450m deep hole CDI Section of HEM Model ENT: ASX release 27 June, 20 August 2014,

17. Slide 17: Highway Geophysics

    Highway Geophysics  Fixed Loop EM shows Conductor at Highway  Soil sampling detected coincident Ni-Cu-Co-As anomaly: max values 114ppm Ni, 56ppm Cu, 27ppm Co, 212ppm As Plan of Ni Soil Geochemistry  As anomaly coherent & coincident with Bi, Proposed Mo, RC/DC Drilling Ni, Pb & Sb & is centered ov

18. Slide 18: Oceanus Geophysics

    Oceanus Geophysics  Fixed Loop EM shows Conductor at Oceanus  EM conductor in magnetic low  Magnetic low interpreted to be ultramafic intrusive Plan of Ni Soil Geochemistry Proposed RC/DC Drilling 350m deep holes 450m deep hole CDI Section of HEM Model ENT: ASX release 27 October 2014 ASX: ENT |

19. Slide 19: Fraser Range – The Prospects

    Fraser Range – The Prospects  Seven high quality prospects  Ground EM completed to identify conductors (drill targets)  Then drill testing Ni, Cu, Co Mafic Rocks Mag Low EM Ni / Cu Geochem Signature Conductors Sulphides Plato Yes Yes Yes Partial Yes Plato West Yes To be tested Yes No Downgraded P

20. Slide 20: Fraser Range Project – Next Steps

    Fraser Range Project – Next Steps  Plato East  Ground EM completed  Permitting & Heritage access completed  Highway  Ground EM completed  Permitting & Heritage access completed  Oceanus  Ground EM completed  Permitting & Heritage access completed ASX: ENT | PAGE 20

21. Slide 21: Doolgunna Project

    Doolgunna Project 1,000km2 100% owned*  Background  1942-53: Small scale Cu mining  1950-66: Horseshoe Cu/Au mine  1955-71: Thaduna Cu mine  2009: Sandfire “DeGrussa” VMS  2013: Sipa “Enigma” SEDEX  2014: ENT SEDEX targets  Highly prospective for VMS and SEDEX Cu, Pb, Zn deposits  Potential

22. Slide 22: Doolgunna – Geology

    Doolgunna – Geology Ore-control factors: Structural control: Intersection of NE- striking Goodin and SBF faults with NW striking cross-cutting faults Mineralisation source and fluids: Copper sourced from mafic volcanics, medium - low temperature fluids, heated by radioactivity from Archaean granite

23. Slide 23: Prospecting Indicators

    Prospecting Indicators Structure: NE-striking Goodin and SBF faults, with major NW striking cross cutting faults, associated with: Geochemical anomalism Bi: Bismuth Sb: Antimony Te: Tellurium W: Tungsten Mo: Molybdenum Sn: Tin Enrichment at surface. Cu(Zn): Depletion in regolith ASX: ENT | PAGE 23

24. Slide 24: Doolgunna – SEDEX Search Criteria

    Doolgunna – SEDEX Search Criteria Tectonic setting Yerrida Basin Rift, sag, deformation Capricorn Orogen Source rocks Volcanics – basalts, etc Copper rich Heat flow Archaean Goodin Dome Hydrothermal systems Major Structures Southern Boundary Fault Basin bounding faults Goodin Fault Favourable Hosts

25. Slide 25: Maglag Surface Geochemistry

    Maglag Surface Geochemistry  Initial Maglag at 1km x 1km spacing  Broad multi-element anomalies identified (Te, Bi, Sb, Mo, As, W, etc)  2014: Infill Maglag sampling (250m x 250m) Tellurium Maglag Geochem “Tellurium often occurs with large gold deposits & copper sulphide deposits “ ASX: ENT | PAG

26. Slide 26: 2014 RC Drilling

    2014 RC Drilling  Scout RC drilling of Maglag Scout RC drilling of Targets A – F geochem/GEM/ gravity targets  36 RC holes for 4,166 metres  First drill test of fresh unoxidised sediments within Doolgunna basin  Drilling & analyses suggest the combined gravity/EM features are sedimentary units w

27. Slide 27: Borg Prospect

    Borg Prospect VTEM & GROUND EM & Te GEOCHEM BOUGUER GRAVITY IMAGE ENT: ASX release 21 July 2014 ENT: ASX release 11 August 2014 ASX: ENT | PAGE 27

28. Slide 28: Borg Prospect – RC Drill Chips

    Borg Prospect – RC Drill Chips BGRC004 113m - 116m Laminated sulphides in carbonates & black shales BGRC014 84m - 88m Matrix sulphides in quartzites ENT: ASX release 8 July 2014 ASX: ENT | PAGE 28

29. Slide 29: Other Prospects - 2014 RC Drilling

    Other Prospects - 2014 RC Drilling Bouguer Anomaly Gravity Image & RC Drill Holes ENT: ASX release 8 July 2014 ASX: ENT | PAGE 29

30. Slide 30: Darlot Project - Overview

    Darlot Project - Overview  740km2 of Archaean Yandal greenstone belt  Proven gold & base metal endowment  Independence Group (ASX:IGO) JV  Minimum $0.5M in Year 1, completed  A 51% interest by spending $1.7M,  Up to 70 - 80% interest by sole funding pre-feas study on JORC Resource  60km from

31. Slide 31: ENT - Drilling Statistics

    ENT - Drilling Statistics AC AC RC RC RCD RCD Total Total Project Holes Metres Holes Metres Holes Metres Holes Metres Booylgoo 30 2,074 30 2,074 Burracoppin 47 6,250 47 6,250 Cunderdin 21 2,015 21 2,015 Darlot 139 5,154 28 4,398 167 9,552 Doolgunna 505 28,903 131 20,684 636 49,587 Eucla 5 289 3 300

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