Encounter Resources Limited

Encounter Resources is pleased to advise the completion of the share placement, raising A$15 million (before costs), priced at $0.35 per share, as announced to the ASX on 29 November 2024. A total of 42,857,141 ordinary fully paid shares were issued to unrelated parties pursuant to the Company’s 15% placement capacity.   We have opened the Share Purchase Plan (SPP Offer) to eligible shareholders. This is an opportunity for shareholders to apply for up to A$30,000 worth of fully paid ordinary shares at $0.35 per share without incurring brokerage or transaction costs.   The Offer Price represents a 6.7% discount to our closing share price and a 13.2% discount to the five-day volume-weighted average price prior to the announcement on 26 November 2024. Through the SPP Offer, we aim to raise up to A$3.0 million (before costs).   Funds raised will support our exploration efforts at the Aileron Project for niobium-REE mineralised carbonatites in the West Arunta, copper exploration in the NT and WA and general working capital. New Shares will rank equally with existing shares on allotment.   The SPP Offer is available to eligible shareholders with a registered address in Australia or New Zealand as of 28 November 2024. Participation is voluntary, and full details can be found in the SPP Offer booklet.   For further information, visit our website: https://bit.ly/3VoMqsu #EncounterResources #ENR #ASX

Encounter Resources is pleased to announce a successful A$15 million placement to advance its Aileron Project in the West Arunta region. The funds will support resource drilling, exploration, and metallurgical testwork at the Crean, Emily and Green niobium-REE prospects. The placement, priced at A$0.35 per share, was well-supported by both new and existing institutional investors.   Additionally, a Share Purchase Plan will raise up to A$3 million, offering existing shareholders the chance to purchase shares at the same price of A$0.35 per share, with a cap of A$30,000 per shareholder.   With a cash position of approximately A$22 million, Encounter is well-positioned to accelerate its exploration activities, including resource definition and further drilling across its ~110 km tenement package in the West Arunta.   Read the full announcement here: https://bit.ly/419BSRD #EncounterResources #ENR #ASX

𝗙𝗶𝗿𝘀𝘁 𝗥𝗖 𝗱𝗿𝗶𝗹𝗹𝗶𝗻𝗴 𝗮𝘁 𝗚𝗿𝗲𝗲𝗻 𝗰𝗼𝗻𝗳𝗶𝗿𝗺𝘀 𝗵𝗶𝗴𝗵-𝗴𝗿𝗮𝗱𝗲 𝗻𝗶𝗼𝗯𝗶𝘂𝗺 𝗱𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝘆   Encounter Resources is pleased to report the first assay results from RC drilling at the Green prospect at the Aileron project, confirming the presence of extensive, high-grade niobium mineralisation in the upper portion of the system. These results demonstrate the continuity of the high-grade niobium system from WA1’s Luni discovery into Green, representing a significant milestone for the project.    Highlights from the initial four RC drill holes include:  - 116m @ 1.7% Nb₂O₅ from 52m to EOH (EAL894), including:     - 28m @ 3.3% Nb₂O₅ from 62m     - 32m @ 2.1% Nb₂O₅ from 95m  - 81m @ 1.5% Nb₂O₅ from 39m (EAL899), including:     - 43m @ 2.4% Nb₂O₅ from 43m    Notably, drill hole EAL894, with 197 metre-% Nb₂O₅, represents the highest ‘grade x thickness’ RC drill intercept recorded across the West Arunta province to date.    These initial results have confirmed a zone of thick, high-grade mineralisation in the western part of the Green Project, where a diamond drill hole has also been completed for metallurgical test work. Assay results from an additional 30 RC drill holes, spanning approximately 2km of strike, are anticipated in the coming months.    Commenting on these results, Executive Chairman Will Robinson stated:  “Green is a large mineralised carbonatite (+3km long) containing multiple zones of shallow, high-grade niobium mineralisation identified with aircore drilling. The first RC holes completed at the western side of Green demonstrate some of the best, depth extensive niobium mineralisation in the West Arunta. A further 30 RC drill holes have been completed at Green, through the better mineralised zones defined by aircore drilling, and we look forward to providing further assay results in the months ahead.”   These results reinforce the exceptional potential of the Green Project and its strategic importance within the West Arunta province. Read the full announcement here: https://bit.ly/491lVz1 #EncounterResources #ENR #Niobium #WestArunta #ASX

This week our Executive Chairman, Will Robinson, spoke at the Macquarie Group WA Forum, sharing Encounter Resources’ approach to unlocking Australia’s mineral potential. With a strong focus on Western Australia and the Northern Territory, Encounter is advancing high-impact, 100%-owned projects in world-class and emerging mineral belts, supported by Tier 1 partnerships that help accelerate our growth.   One of our core areas is the West Arunta mineral province, where we hold a commanding land position at our Aileron Project. This region offers vast potential for mineral discoveries, and Encounter is committed to systematically exploring it to drive value for our shareholders and local communities.   To learn more, explore the full presentation here: https://bit.ly/48I5oQh #EncounterResources #ENR #Niobium #Copper #ASX

We are pleased to announce the release of our 2024 Annual Report, highlighting the significant progress Encounter Resources has made this year. Our Aileron project in the West Arunta region has emerged as a major new minerals province in Western Australia, positioning us at the forefront of the critical minerals sector.   Our focus remains on discovering large copper, niobium and rare earth deposits - essential for the electrification and decarbonisation of global energy infrastructure. As demand for these commodities rises, we recognise the need for new mines to meet this demand, despite supply constraints from limited discoveries in recent decades. We believe innovative exploration methods and fresh thinking are key to unlocking the potential of underexplored frontier areas in Australia.   Our strategy is reflected in our extensive project portfolio, supported by partnerships with leading mining companies such as BHP, South32, IGO and Newcrest. A highlight of our recent achievements includes confirming multiple new mineralised carbonatites at Aileron, where we have identified near-surface niobium-REE mineralisation across various prospects.   Additionally, our exploration activities at the Sandover project have shown promise for high-grade copper mineralisation. We are committed to continuing our exploration efforts in 2025 and beyond, confident in the potential for significant discoveries that will enhance value for our shareholders.   We invite you to explore the full Annual Report for a comprehensive understanding of our achievements and future direction: https://bit.ly/3Al4yw4 Will Robinson #EncounterResources #ENR #Niobium #Copper #AnnualReport #ASX

𝗘𝗻𝗿𝗶𝗰𝗵𝗲𝗱 𝗡𝗶𝗼𝗯𝗶𝘂𝗺 𝗢𝘅𝗶𝗱𝗲 𝗠𝗶𝗻𝗲𝗿𝗮𝗹𝗶𝘀𝗮𝘁𝗶𝗼𝗻 𝗮𝘁 𝗔𝗶𝗹𝗲𝗿𝗼𝗻 – 𝗪𝗲𝘀𝘁 𝗔𝗿𝘂𝗻𝘁𝗮   We are pleased to report notable progress at the Aileron project, with encouraging results from key targets:   🔹 Emily – The highest-grade niobium intercept achieved to date:  - 23m @ 4.2% Nb₂O₅ from 40m to the end of the hole, located on the north-west structural trend adjacent to Luni.   🔹 Green – Initial RC drilling has confirmed that the niobium oxide mineralisation extends beyond the depth indicated by previous aircore drilling. Assay results from the RC drilling are expected in November 2024.   🔹 Joyce – First aircore drilling has intersected a carbonatite complex along two drill lines 1.6km apart, parallel to the regionally significant Weddell Fault.   🔹 Perce – Diamond drilling, co-funded by the EIS, has revealed shallow cover and intersected mafic geology containing lamprophyres and rare earth elements (up to 0.2% TREO), as well as a narrow vein of high-grade copper. Follow-up aircore and RC drilling will target favourable structural locations adjacent to the gravity anomaly.   Our Executive Chairman, Will Robinson stated: “Following the discovery of Luni we adopted a drilling strategy of using low cost, fast moving aircore to rapidly provide a broad outline of the potential for shallow, high-grade niobium mineralisation across our key target areas.   We have now transitioned to follow-up RC drilling, which is demonstrating that high-grade niobium oxide mineralisation is extending beyond the depths initially indicated by aircore drilling at Green. Assay results from the RC drilling at Green and Crean, through the better mineralised parts of these systems, are expected from November through until the March quarter 2025.”   These results reinforce the growing potential of the Aileron project and represent an exciting phase in our exploration efforts.   Read the full announcement here: https://bit.ly/3BHMJHT   #EncounterResources #ENR #Niobium #MineralExploration #WestArunta #RareEarths #MiningUpdates #DrillingResults #ASX

As a sponsor of SEG-SGA WA Student Chapter Geoscience Industry Night, the team at Encounter are looking forward to an incredible evening of networking, learning, and connection with students motivated to work in the geoscience and mining industry. We look forward to seeing you there! #EncounterResources #ENR #SEGSGAWA #Geoscience #StudentDevelopment #MiningIndustry

Today we announced an exploration update for our large-scale, funded Farm-in and Joint Venture with South32 (South32) in the Northern Territory, Australia (Jessica Farm-in). Throughout 2023, South32 funded and managed 7,200m of diamond drilling across the Jessica Copper Project (Jessica) and the Carrara Copper-Zinc Project (Carrara). Seismic re-processing and interpretation integrating outcomes from the 2023 diamond drilling campaign has advanced and refined geological targeting with the following key outcomes: 🔹 Copper prioritisation at Jessica: ·      Additional tenure has been added to the Jessica Farm-in Agreement, expanding it by 811km². ·      Encounter has regained full control of the Carrara project , with South32 exiting. 🔹 Upcoming exploration drilling activity: ·      A 2,500m diamond drill program is scheduled to begin at Jessica in October 2024, targeting new areas identified through seismic re-processing. ·      A deep-seeking MIMDAS geophysical survey will also be conducted at the Zeta target to refine our drilling focus. 🔹Key terms of the Jessica Farm-in agreement remain unchanged: ·      South32 to earn 60% interest by sole funding A$15m exploration expenditure within 10 years. ·      Opportunity to earn an additional 15% by completing a Scoping Study.  ·      Further opportunities for South32 to increase ownership with additional investment post initial farm-in period. ·      South32 manage the project during the initial farm-in period. Our Executive Chairman Will Robinson shared: “The first holes drilled at the Zeta target at Jessica intersected red-rock hematite alteration and copper associated with quartz–carbonate veining, interpreted as a distal alteration signature to a potential IOCG style mineral system. The next phase of exploration at Jessica includes a 2,500m diamond drill program testing new targets identified through seismic re-processing and interpretations from the 2023 drilling, as well as a deep seeking MIMDAS geophysical survey at the Zeta target that could focus the follow up drilling.”   Read the full announcement here: https://bit.ly/3BlalSA   #EncounterResources #ENR #Copper #Exploration #Mining #JessicaProject #NT

We’re excited to announce that our Exploration Manager, Sarah James will be presenting at the 2024 NT Resources Week in Darwin, proudly supported by the Northern Territory Government. Sarah will share insights on our Northern Territory projects as part of the “Mining the Territory” conference.   Presentation details: 🔹 Thursday, 19th September 🔹 12:05pm AEST 🔹 Darwin Convention Centre   Join us at this significant event to connect with industry leaders and explore the future of mining in the NT. Don’t miss out - learn more about the event here: https://lnkd.in/dkBNcucr   Informa Australia   #NTRW #SEAAOC #MiningNT #NTCleanEnergy24 #EncounterResources #ENR

🌟 What an incredible Diggers & Dealers Mining Forum! 🌟   The Encounter Resources team enjoyed sharing insights and showcasing our projects over the three days last week. We appreciate everyone who stopped by to catch up with our team ✅   Our Executive Chairman, Will Robinson, delivered a presentation focused on two of our key project areas, Aileron in the West Arunta region and the Sandover copper project in the Northern Territory. Will also shared insights into our approach to exploration and how we’re opening new fronts in the search for the next major critical minerals discoveries.   Watch the full recording here: https://bit.ly/3WGLrni   Mark Brodie Dr. Jon Hronsky OAM Sarah James #EncounterResources #ENR #DiggersAndDealers2024 #MineralExploration #Copper #CriticalMinerals