ENCOUNTER RESOURCES LIMITED — AGM Information 2013

Nov 28, 2013

Level 7, 600 Murray Street West Perth WA 6005

PO Box 273 West Perth WA 6872

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P 08 9486 9455 F 08 6210 1578 www.enrl.com.au

ASX : ENR

29 November 2013

Company Announcements Office Australian Securities Exchange 4th Floor, 20 Bridge Street Sydney NSW 2000

Annual General Meeting – Chairman’s Address

The last year has been an important one for Encounter as we have seen significant advances on our exciting Yeneena Project in the Paterson Province in Western Australia.

Over the course of 2012 and 2013, Encounter further consolidated its strategic ground position along the prospective corridor adjacent to the Yeneena Project. We have now completed three agreements whereby we can spend exploration dollars in order to earn an equity interest in a number of adjacent projects, each with excellent potential. Our fellow joint venturers on these earn-ins are St. Barbara Limited, Independence Group NL and Midas Resources Limited.

Following these agreements, the Yeneena Project now covers 1,900km[2] of the Paterson Province and is located 40km South East of the Nifty copper mine and 30km South West of the Telfer gold/copper deposit. The Woodie Woodie manganese mine and the Kintyre uranium deposit are also nearby.

Our targets are located adjacent to major regional faults and have been identified through electromagnetics, geochemistry and structural targeting. The copper targets are hosted within sediments of the Broadhurst Formation in a similar geological setting to the 2 million tonne Nifty copper deposit.

Encounter has secured a large foothold in this region containing an extensive pipeline of exploration opportunities. The presentation that accompanies this meeting demonstrates both the prospectivity and scale potential of this region.

This time last year, I indicated to shareholders that equity markets remained risk averse and the further away from production a company is, the more risk averse investors become. This has not changed over the last year and in fact the situation has probably intensified with many explorers facing funding challenges.

However, what is also clear, is that many undeveloped copper projects in the world face high capital intensity. These projects are often located in developing countries where there is poor infrastructure and increasing degrees of political risk. Investors are questioning whether capital should be invested in mega projects with high levels of technical, political and funding risk. Being disciplined in capital allocation by improving project selection and execution is expected.

These challenges put Yeneena on the radar of a number of large global resource companies who saw the potential at Yeneena. Mineralised systems that extend over 14kms and remain open are few and far between.

I am pleased to say that in April 2013, we completed an earn-in agreement with one of these companies. Our joint venture partner is a wholly owned subsidiary of Antofagasta plc.

London Stock Exchange listed Antofagasta has a market capitalization of about GBP8 billion and is one of the world’s largest copper producers. The earn-in agreement provides that Antofagasta may earn a 51% interest in two tenements within the Yeneena Project by incurring expenditures of US$20 million over a five year period. This agreement covers approximately 25% of the Yeneena project area. In addition, Antofagasta now also owns about 7% of Encounter’s issued shares.

This transaction is a significant endorsement of Encounter’s work to date and on the large scale copper potential identified at Yeneena. Antofagasta brings considerable financial, technical and operating resources to progress the exciting copper discoveries made by Encounter. This relationship will ensure a fully funded exploration programme and if successful, provides a path towards production with a major copper producer. We have already established a very good and fruitful working relationship with our colleagues at Antofagasta. Indeed, we have had senior representatives of Antofagasta on site on a number of occasions throughout the Year.

In terms of this year’s achievements: within the Antofagsta earn-in area we have hit high grade copper sulphides at BM7 while significantly expanding the footprint of the prospect; in the north-east of the project we have an interesting zinc occurrence at the 100% owned BM2 target and we have further underscored the prospectivity and scale potential of this region.

The focus for the upcoming year is to advance the copper discoveries along the 14km long BM1-BM6-BM7 copper system within the Antofagasta earn-in agreement. Also, we will test the first order targets on the 100% owned Encounter ground and the earn-in agreements completed by Encounter in the region.

In summary, your company has secured a dominant land position in the highly prospective Paterson Province and is well placed to unlock the potential of its priority targets. Our exploration plans are well funded, we have an excellent team and a major in the copper industry as our partner.

In closing, we would like to thank our committed team for their professionalism and dedication. Encounter is fortunate to have such a talented team who are leaders in the field. We would also like to thank our suppliers and other business partners.

Finally, we would take this opportunity to thank our fellow shareholders for their ongoing support.

For further information please contact: Mr Will Robinson Managing Director Tel: 08 9486 9455

The information in this report that relates to Exploration Results is based on information compiled by Mr. Peter Bewick who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Bewick is a full time employee of Encounter Resources Ltd and has sufficient experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 Edition of the 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Bewick consents to the inclusion in the report of the matters based on the information compiled by him, in the form and context in which it appear

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Annual General Meeting 29 November 2013

ASX : ENR

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INVESTMENT SUMMARY
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• Major land position in Proterozoic sedimentary basin (1900km[2] )

• Surrounded by major mineral deposits (Au-Cu, Cu, U and Mn)

• Greenfields copper discovery 14km long and growing

• Experienced team of former WMC executives

• Well funded explorer

• US$20m farm-in with

Antofagasta plc (2 tenements, 25% of Yeneena)

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Yeneena
Copper
Project
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CORPORATE INFORMATION
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Board
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Paul Chapman - Chairman

Will Robinson - Managing Director Peter Bewick - Exploration Director Jon Hronsky - Non-Executive Director Kevin Hart / Dan Travers - Company Sec. 132.5m Ordinary Shares Issued Capital 9.5m Employee Options A$27m @ A$0.20/share Market Cap. Cash A$4.5m (30 Sept 2013)

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ENR SHARE PRICE
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ENR vs ASX Small Resources Index

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150%
ENR.ASX XSR.ASX
140%
130%
120%
110%
100%
90%
80%
70%
60%
50%
30 Nov 12 09 Jan 13 14 Feb 13 21 Mar 13 30 Apr 13 04 Jun 13 10 Jul 13 14 Aug 13 18 Sep 13 23 Oct 13
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ANTOFAGASTA FARM-IN
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One of the world’s largest copper producers and explorers

Key terms:

• Antofagasta may earn a 51% interest in tenements E45/2658 and E45/2805 (433km[2] ) within the Yeneena project (approximately 25% of Encounter’s Yeneena land holding) by incurring expenditures of US$20 million over a five year period.

• Antofagasta injected a private placement of US$2 million into Encounter through a private placement (A$0.21 per share)

About Antofagasta PLC

• Chilean-based copper mining group

• Listed on the London Stock Exchange (LN:ANTO)

• Market capitalisation ~ US$13 billion.

• Operates four copper mines with a total production in 2012:

• Copper 709,600 tonnes

• Gold 299,900 ounces

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ANTOFAGASTA FARM-IN
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The Benefits:

• Significant endorsement of the large scale deposit potential by one of the world’s largest copper mining companies

• Considerable financial, technical and operating resources to progress the exciting copper discoveries made by Encounter

• Ensures a fully funded exploration program

• Provides a path towards production with a major copper producer

• Exploration will continue to be managed by Encounter

• Encounter retains the majority of its extensive Yeneena land holdings adjacent to the Antofagasta farm-in tenements

• Additional funding to advance the 1500km[2] Yeneena land holding 100% controlled by Encounter

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YENEENA PROJECT
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Major land position amongst giant mineral deposits

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In 2012/13, Encounter has expanded
its ground holding with earn-ins:
• St Barbara Mines Ltd
• Independence Group NL
• Midas Resources Ltd
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HISTORICAL DISCOVERIES
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Nifty - 1980
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Telfer – 1972

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Kintyre - 1985
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YENEENA PROJECT
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Under cover exploration– a new search space

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SEDIMENT HOSTED COPPER
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Central Africa Copper Deposits Paterson Mt Isa
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Province
Endowment Endowment
170MT Copper 2.3MT Copper
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Deposit style produces giant orebodies
Is Nifty the giant of the Paterson?
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5 includes basement hosted deposits
0
MT Cu (pre mined resources)
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NIFTY COPPER DEPOSIT
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Nifty copper sulphide mineralisation is a shallow plunging body with the strongest mineralisation located at the keel of a synform

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YENEENA PROJECT
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BM1-BM7 Copper Discovery Location Plan

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Next
slide
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BM1 - BM7 PROSPECTS
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Copper mineral system 14km long and growing

BM1

Coherent zone of near surface copper oxide mineralisation 10m @ 6.8% Cu from 32m 8m @ 3.6% Cu from 18m 20m @ 2.0% Cu from 22m

BM7

6 x 3km copper system still growing First joint diamond drill program intersects high grade Cu sulphide 5m @ 2.5% Cu incl. 0.7m @ 11% Cu

Antofagasta farming-in

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LONG SECTION BM1-BM7
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Shallow drilling defines major new Copper-Cobalt mineral system

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5.3m@2.5% Cu
from 388
Extended 3km & still open
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Antofagasta farming-in

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BM7 COPPER OUTLINE JAN 13
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At the start of 2013 we had evidence of a large mineral system at BM7

• 3km x 1km near surface copper footprint

• Attracted copper major Antofagasta plc to the project

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1km
3km
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• Six months of activity completed under the earn-in agreement …

• EPT1822 - 36m – Asurite in RC chips (Assays pending)

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BM7 DRILLING 2013 SUMMARY
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BM7 mineral system significantly extended south and east

• Tripled the size of the surface copper footprint

• Over 6km in strike and up to 3km in width

• Generated specific new primary copper sulphide targets

• Extraordinary copper oxide footprint with high grade copper in the primary zone

• System remains open to the south and south east

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3km
A A’
6km
EPT1822 - 36m – Asurite in RC chips
(Assays pending)
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BM7 SCHEMATIC SECTION A-A’
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Diamond drill program has confirmed depth extensive copper sulphide mineralisation and established the high grade potential of BM7 system

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Nifty Sulphide Deposit
(~ same scale)
See Slide 8
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BM7 – 2013 MILESTONES
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• Tenement granted in August 2012

• Initial exploration confirmed large scale copper potential

• Attracted quality partner - copper major Antofagasta plc

• Shallow drilling outlined 6km x 3km copper system - still growing

• First joint diamond drilling produced high grade copper sulphide

• Geological similarities with 2MT Nifty copper deposit

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REGIONAL TARGETS - NORTH
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Untested targets north of BM1-BM7

• 100% Encounter held ground

• VTEM Survey completed June 2013

• Significant north-east trending structure that mirrors the BM1-BM7 copper system

• Shallow sand cover

• Minimal previous exploration – a handful of RAB holes

• 10 hole RC drill program October 2013 identified copper anomalism

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Electromagnetics - VTEM
14km
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REGIONAL TARGETS - BM2
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Large Scale Zinc Mineral System – EIS co-funded drilling in 2013

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BM2 PROSPECT
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EIS drilling intersects massive zinc sulphide mineralisation

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BM2 PROSPECT
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EIS drilling intersects massive zinc sulphide mineralisation

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DISCOVERY TIMELINE
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2012
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Large scale, copper discovery at BM7

2011

Regional copper targets defined

Discovery of copper sulphides at BM1

2010 New copper oxide Greenfields copper discoveries at BM6 & BM7 oxide discoveries at First BM7 copper sulphides BM1

2008-09

Airborne EM Regional geochem Target generation

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2013 Objectives

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High grade copper sulphides at BM7

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Test targets south and east of BM7

Test Regional Targets (100% ENR)

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SUMMARY
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Yeneena – Australia’s Next Great Copper District?

• Large scale system over 14km long and growing

• High grade near surface intersections

• Key ground position secured (>1900km[2] )

• First world mining jurisdiction

• Major mining company funding through Antofagasta farm-in

• Well funded & highly active greenfield explorer

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Disclaimer & Compliance Statement

This presentation has been prepared by Encounter Resources Limited (“Encounter”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Encounter has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Encounter.

Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to Encounter. In particular, they speak only as of the date of this document, they assume the success of Encounter’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document (“Recipients”) are cautioned to not place undue reliance on such forward-looking statements.

Encounter makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued.

To the extent permitted by law, Encounter and its officers, employees, related bodies corporate and agents (“Agents”) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Encounter and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

The information in this report that relates to Exploration Results is based on information compiled by Mr. Peter Bewick who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Bewick is a full time employee of Encounter Resources Ltd and has sufficient experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 Edition of the 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Bewick consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

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