ENCOUNTER RESOURCES LIMITED — Capital/Financing Update 2022

Nov 30, 2022

ASX Announcement 1 December 2022

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Completion of Placement and Cleansing Notice

Encounter Resources Limited (“ Encounter ” or the “Company ”) advises of the completion of the related party component of the share placement (the “ Placement ”) announced to ASX on 23 September 2022, following shareholder approval at the Company’s Annual General Meeting on 29 November 2022.

A total of 2,500,000 ordinary fully paid shares have now been issued to directors and their related parties on the same terms as unrelated parties in the Placement, raising a further $300,000.

For further details of the Placement, including use of funds, refer to the announcement and Appendix 3B lodged with ASX on 23 September 2022.

A cleansing notice is attached to this announcement regarding the issue of the abovementioned shares and an Appendix 2A reflecting the new shares to be issued will follow this announcement.

This announcement has been approved for release by the Managing Director of Encounter.

For further information, please contact:

Will Robinson Managing Director +61 8 9486 9455 contact@enrl.com.au michael.vaughan@fivemark.com.au

Michael Vaughan Fivemark Partners +61 422 602 720

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P +61 8 9486 9455 E contact@enrl.com.au www.enrl.com.au

Encounter Resources Limited Suite 2, 1 Alvan St Subiaco WA 6008

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About Encounter

Encounter is one of Australia’s leading mineral exploration companies listed on the ASX. Encounter’s primary focus is on discovering major copper dominant deposits in Australia.

Encounter partners with leading mid-tier and major producers to advance its extensive project pipeline with more than $25m of project funding contributed by partners over the past decade. Currently, Encounter has farm-in agreements in place with world leading resources companies to provide up to $65m in initial exploration funding. Encounter’s assets include:

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1 December 2022

The Manager Company Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir or Madam

ENCOUNTER RESOURCES LIMITED SECONDARY TRADING NOTICE – NOTIFICATION PURSUANT

TO PARAGRAPH 708A(5)(e) OF THE CORPORATIONS ACT 2001

This notice is given by Encounter Resources Limited (ACN 109 815 796) (“Encounter”) under section 708A(5)(e) of the Corporations Act 2001 (Cth) (“the Act”).

Encounter advises that it has issued on 1 December 2022 2,500,000 new shares pursuant to a share placement announced on 23 September 2022 without disclosure under Part 6D.2 of the Corporations Act.

Encounter gives notice under section 708A(5)(e) of the Act that:

• (a) The shares were issued without disclosure to investors under Part 6D.2 of the Act;

• (b) as a disclosing entity, Encounter is subject to regular reporting and disclosure obligations;

• (c) as at the date of this notice, Encounter has complied with the provisions of Chapter 2M as they apply to Encounter and section 674 of the Act; and

• (d) as at the date of this notice, there is no information that is ‘excluded information’ within the meaning of section 708A(7) and 708A(8) of the Act which is required to be disclosed by Encounter under section 708A(6)(e) of the Act.

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Dan Travers Company Secretary