BARYS RESOURCES LIMITED — Capital/Financing Update 2024

Jun 3, 2024

ASX Announcement

4 June 2024

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GHANZI WEST PROJECT UPDATE

PRIORITY KALAHARI COPPER BELT TARGETS IDENTIFIED

ENRG Elements Limited (ASX: EEL ) (“ ENRG Elements ”, “ Company ”) advises that LSE listed Kavango Resources Plc (LSE:KAV) (“ Kavango ”), the 90% owner of the Ghanzi West Copper-Silver Project in Botswana's Kalahari Copper Belt, in which EEL retains a 10% interest (“ Ghanzi West Project ”) has provided an update to its shareholders in relation to the first high priority targets identified for Phase 1 of the drilling on the Kalahari Copper Belt (KCB) Karakubis Project.

Kavango’s announcement can be viewed via the London Stock Exchange website under code ‘KAV’ or Kavango’s website www.kavangoresources.com.

Authorised by the Managing Director of ENRG Elements Limited.

For further enquiries, please contact:

Caroline Keats

Managing Director ENRG Elements Limited - info@enrg elements.com +61 8 6263 4400 - www.enrg elements.com

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 21.5Mlbs of contained U3O8 at 315ppm (175ppm cut-off grade) from surface to ~37m depth (ASX Release – 26 April 2023). 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). The Company was also recently granted the Tarouadji Project in Niger, a lithium exploration permit covering approximately 500km[2] , located 70km[2] from the Company’s flagship Agadez Uranium Project.

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]

The Company recently secured 3 exploration permits in Manitoba, Canada, that are prospective for lithium.

ENRG Elements owns 10% of the shares in Icon-Trading Company Pty Ltd and Ashmead Holdings Pty Ltd, which hold a total of 6 prospecting licences, comprising the Ghanzi West Copper-Silver Project which covers an area of 2,630km[2] . ENRG Elements also holds 25% of Alvis-Crest (Proprietary) Limited, the holder of two prospecting licences, the Virgo Project. Both projects are located in Botswana's Kalahari Copper Belt, one of the most

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

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

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

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

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ASX Announcement 4 June 2024

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prospective copper belts in the world, which hosts Sandfire Resources' Motheo Copper Mine and Khoemacau Copper Mining’s Zone 5 underground mine. Botswana is a stable, pro-mining jurisdiction, supportive of mineral exploration and development.

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 fields.

Competent Persons Statement

The information on 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 it is not aware of any new information or data that materially affects the Exploration Results or Mineral Resources information included in the original announcements and all material assumptions and technical parameters underpinning the estimates in the original announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the applicable Competent Persons’ findings are presented have not been materially modified from the original announcement.

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

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

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