ENCOUNTER RESOURCES LIMITED — Capital/Financing Update 2013

Apr 22, 2013

Level 7, 600 Murray Street West Perth WA 6005

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23 April 2013

PO Box 273 West Perth WA 6872 P 08 9486 9455 F 08 6210 1578 www.enrl.com.au

ASX : ENR

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

Share Purchase Plan (SPP)

The Directors of Encounter Resources Limited (“Encounter” or “the Company”) are pleased to advise that the Company is offering eligible Shareholders the opportunity to subscribe for additional shares in the Company through a Share Purchase Plan (“Offer”), without incurring brokerage or other associated costs.

The Offer is made at the same price, $0.21 per share, as the private placement with Antofagasta Minerals Perth Pty Limited, a wholly owned subsidiary of London Stock Exchange listed Antofagasta PLC, one of the world’s largest copper producers (see ASX Announcement 23 April 2013).

Proceeds from the SPP will be used to advance exploration at Encounter’s highly prospective Yeneena project and for general working capital purposes. The Directors of the Company will be subscribing for the maximum amount under the terms of the Offer.

The amount intended to be raised under the Offer is approximately A$2,000,000 and entitles Eligible Shareholders, irrespective of the size of their shareholding, to purchase up to A$15,000 worth of shares. If the SPP is oversubscribed the total funds to be raised under the SPP will be limited to a maximum of A$3,000,000. Applications received in excess of this amount will be scaled back on an equitable basis.

Shareholders with a registered address in Australia or New Zealand are eligible to participate. The Offer will be available to eligible Shareholders who are registered as holders of fully paid ordinary shares in the Company as at 5pm (WST) on Monday 22 April 2013 (Record Date).

Timetable and Important Dates	Date
Record Date	Monday 22 April 2013
Opening Date of Offer*	Monday 29 April 2013
Closing Date of Offer*	Friday 17 May 2013
Issue of Shares Pursuant to the Offer*	Wednesday 22 May 2013
Dispatch Date for Holding Statements*	Thursday 23 May 2013
Quotation of Shares on ASX*	Friday 24 May 2013

*Dates are indicative only. The Company may vary the dates and times of the Offer without notice.

The Offer documents, which set out the terms of the Offer, will be mailed to Shareholders shortly.