BARYS RESOURCES LIMITED — Capital/Financing Update 2022

Nov 1, 2022

ASX Announcement

2 November 2022

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ENRG to Focus on Niger Uranium and Botswana Copper-Silver Projects

ENRG Elements Limited (ASX: EEL ) (“ ENRG Elements ”, “ Company ”) is pleased to announce that it has made a strategic decision to further refine its focus on the Company’s Niger Uranium and Botswana Copper-Silver Projects.

With ENRG’s Elements first drilling program completed at the Agadez Uranium Project in September 20220F[1] and following receipt of diamond core assay results expected in Q4 CY2022, it is anticipated the JORC Resource will be upgraded shortly thereafter. The Company aims to create further shareholder value through ongoing exploration of Agadez, as global demand for nuclear fuels continues to rapidly increase.

In August 2022, the Company commenced an airborne electromagnetic and gravity survey across the Kara Dome assets at the Ghanzi West Copper-Silver Project in the Kalahari Copper Belt of Botswana1F[2] , located along strike from Sandfire Resources’ copper assets (Motheo and A4) and in the same region as Cobre’s recent copper discovery. The results from these surveys are currently being interpreted and are expected to be announced in the coming weeks.

With these significant developments across the Company’s African projects, the Board of ENRG Elements has made the decision to focus its resources and capital on further advancing these assets with the aim of building additional shareholder value.

As a result, the Company advises that it has provided notice to Murchison Copper Mines Pty Ltd (“MCM”), a subsidiary of Horseshoe Metals Limited (ASX:HOR) to withdraw from the Farm-in and Joint Venture Agreement with MCM and Kopore (WA) Pty Ltd (“Joint Venture”). In accordance with the terms of the Farm-in and Joint Venture Agreement entered into on 25 January 2021, the Company provided the required 30 days advance notice of withdrawal, resulting in an effective withdrawal date of 30 November 2022.

ENRG Elements Managing Director, Ms Caroline Keats, commented: “With a particularly busy few months for the Company as exploration at the Agadez Uranium Project in Niger has ramped-up, combined with re-commencement of exploration at the Ghanzi West Project in Botswana, it makes

1 ASX Announcement – “Drilling Program Update and the Agadez Uranium Project” – 1 September 2022

2 ASX Announcement – “Kalahari Copper Belt and Tim Mersoi Basin Update” – 26 August 2022

A: Suite 5, 62 Ord Street West Perth, WA 6005 P: +61 8 9322 1587 | F: +61 8 9322 5230 E: info@enrg-elements.com.au

ASX: EEL ABN: 73 149 230 811 www.enrg-elements.com.au

ASX Announcement 2 November 2022

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strategic sense to focus our resources and capital on the further development of these assets, hence the Board of ENRG Elements has made the decision to withdraw from the Joint Venture.

We look forward to updating the market on developments at both our Niger Uranium and Botswana Copper-Silver Projects in the near term.”

Authorised by the Board of ENRG Elements Limited.

For further enquiries, please contact: For investor relations enquiries:

Caroline Keats

Jane Morgan

Managing Director Investor and Media Relations Manager ENRG Elements Jane Morgan Management - info@enrg elements.com.au jm@janemorganmanagement.com.au +61 8 9322 1587 + 61 (0) 405 555 618 - www.enrg elements.com.au www.janemorganmanagement.com.au

A: Suite 5, 62 Ord Street West Perth, WA 6005 P: +61 8 9322 1587 | F: +61 8 9322 5230 E: info@enrg-elements.com.au

ASX: EEL ABN: 73 149 230 811 www.enrg-elements.com.au

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