BARYS RESOURCES LIMITED — Capital/Financing Update 2023

Mar 13, 2023

ASX Announcement

14 March 2023

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ENRG Elements Commences Trading on the OTCQB Market

Highlights:

• ENRG Elements is now quoted on the US-based OTCQB Market under the code OTCQB: EELFF

• Key advantages for North American investors include:

• Trades and settlements are in US Dollars (USD)

• Trading hours are in the North American time zone

• The shares trading on OTCQB are the same class of Ordinary Shares trading on ASX (ASX:EEL)

• Trading on the OTCQB will further enhance awareness and the accessibility of the Company to US investors.

• The Company will still maintain the Australian Securities Exchange (ASX) as its primary listing, with shares also now tradable on the OTCQB market (www.otcmarkets.com).

• Admission to the OTCQB is non-dilutive for existing shareholders.

ENRG Elements Limited ( ASX:EEL ) (“ ENRG Elements ” or the “ Company ”) is pleased to announce that the Company’s shares are now quoted on the OTCQB market, a US-based trading platform that is operated by OTC Markets Group Inc. in New York, United States. The Company’s ticker code is OTCQB:EELFF and trading commenced on 13 March 2023.

The listing provides a number of key advantages for North American investors including the convenience of having trades and settlement in a familiar currency, United States Dollars (USD), and being able to invest in the Company’s OTCQB listed shares during North American trading hours.

The OTCQB quotation will enhance accessibility and liquidity for current and future North American investors to invest in ENRG Elements. Compared to traditional major exchanges, the quotation of shares on the OTCQB provides the Company with access to one of the largest investment markets in the world at nominal cost.

A: Suite 10, 44 Kings Park Road West Perth, WA 6005 P: +61 8 6263 4400 | F: +61 8 9481 7869 E: info@enrg-elements.com.au

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

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ASX Announcement 14 March 2023

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The Company’s primary listing remains on the Australian Securities Exchange (“ ASX ”) under the ticker code ASX:EEL. Investors can access further information in relation to the Company’s OTCQB quotation via www.otcmarkets.com.

The Company confirms that the OTCQB quotation does not impose any material additional compliance or regulatory standards above the Company’s ASX listing. The Company further confirms that the OTCQB quotation is non-dilutive to existing shareholders, with no shares to be issued to facilitate to the OTCQB quotation. Rimon Law acted as the Company’s OTCQB advisor and sponsor.

Managing Director, Caroline Keats, commented: “ENRG Elements is at a pivotal stage as we continue to advance our Agadez Uranium Project and Ghanzi West Copper-Silver Project, and we continue to receive significant interest form international investors. We are excited to be able to offer North American investors a greater opportunity to invest in the Company’s future and broaden our exposure into the global investment community.”

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

Caroline Keats Jane Morgan Managing Director Investor and Media Relations Manager ENRG Elements Limited Jane Morgan Management - info@enrg elements.com.au jm@janemorganmanagement.com.au +61 8 6263 4400 + 61 (0) 405 555 618 - www.enrg elements.com.au www.janemorganmanagement.com.au

About ENRG Elements Limited

ENRG Elements Limited (ASX:EEL) is a company focused on the exploration and development of its uranium and copper projects, both commodities which are essential for a clean energy future.

The Company holds 100% of the underexplored Agadez Uranium Project located in the Tim Mersoi Basin of Niger, with a JORC Resource of 10.7m pounds of contained eU3O8 at 295ppm (150ppm cut-off grade) from surface to only ~30m depth, with exploration currently underway to advance the project (ASX Release – 30 May 2022). Agadez hosts similar geology to Orano SA’s Cominak/Somair and Imouraren uranium mines and the deposits held by Global Atomic Corporation (TSE:GLO) and GoviEx Uranium (CVE:GXU).

A: Suite 10, 44 Kings Park Road West Perth, WA 6005 P: +61 8 6263 4400 | F: +61 8 9481 7869 E: info@enrg-elements.com.au

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

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ASX Announcement 14 March 2023

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Niger has one of the world’s largest uranium reserves and in 2021 it was the seventh-highest uranium producer globally[1] with the Tim Mersoï Basin in Niger hosting the highest-grade and tonnage uranium ores in Africa[2] .

ENRG Elements also holds the 100% owned Ghanzi West Copper-Silver Project covering a total area of 2,630km[2] in the emerging world class Kalahari Copper Belt of Botswana, one of the most prospective copper belts in the world, which hosts Sandfire Resources' Motheo Copper Mine and Khoemacau Copper Mining’s Zone 5 underground mine. ENRG Elements believes that the Kalahari Copper Belt has the potential for material discovery, with further exploration underway to advance the project.

Botswana is a stable, pro-mining jurisdiction, supportive of mineral exploration and development. According to the 2020 Fraser Institute Annual Mining Survey[3] , Botswana was ranked 1st for ‘investment attractiveness’ in Africa, in addition to being ranked 11th out of 77 countries globally.

The Directors and management of ENRG Elements have strong complementary experience with over 90 years of Australian and international technical, legal and executive experience in exploration, resource development, mining, legal and resource field.

Competent Persons Statement

The information on the Mineral Resources outlined in this announcement was compiled by Mr. David Princep, an independent consultant employed by Gill Lane Consulting. Mr Princep is a Fellow of the Australasian Institute of Mining and Metallurgy and a Chartered Professional Geologist. Mr Princep has more than five years relevant experience in estimation of mineral resources and the mineral commodity uranium. Mr Princep has sufficient experience relevant to the assessment of this style of mineralisation to qualify as a Competent Person as defined in the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves – The JORC Code (2012)”. The Company confirms that the form and context in which the results are presented have not been materially modified from the original announcement.

1 https://world-nuclear.org/information-library/facts-and-figures/uranium-production-figures.aspx

2 https://www.sciencedirect.com/science/article/pii/S016913682200213X

3 https://www.fraserinstitute.org/sites/default/files/annual-survey-of-mining-companies- 2020.pdf

A: Suite 10, 44 Kings Park Road West Perth, WA 6005 P: +61 8 6263 4400 | F: +61 8 9481 7869 E: info@enrg-elements.com.au

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

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