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ENCOUNTER RESOURCES LIMITED Proxy Solicitation & Information Statement 2010

Nov 3, 2010

64856_rns_2010-11-03_ba5ca2a3-2e17-4426-a20b-81a5c1293199.pdf

Proxy Solicitation & Information Statement

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NOTICE�OF�GENERAL�MEETING�

&�

EXPLANATORY�STATEMENT�

To�be�held�

At�9.00am,�Tuesday,�7�December�2010�

at�

The�Offices�of�Encounter�Resources�Limited� Level�7,�600�Murray�Street� West�Perth�WA�6005�

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Level 7, 600 Murray Street West Perth WA 6005 PO Box 273 West Perth WA 6872 P 08 9486 9455 F 08 6210 1578 www.enrl.com.au

4[th] �November�2010�

Dear�Fellow�Encounter�Shareholder,�

Please�find�enclosed�the�Notice�of�General�Meeting�for�the�Shareholders’�Meeting�to�be�held�at�the�offices�of�Encounter� Resources�Limited,�Level�7,�600�Murray�Street,�West�Perth,�WA�6005�at�9.00am�on�Tuesday,�7�December�2010.���

The�purpose�of�the�meeting�is�to�seek�shareholder�approval�in�accordance�with�the�Corporations�Act�2001�and�the�Listing� Rules�of�the�ASX�to�a�resolution,�which�as�set�out�in�the�attached�Notice�of�Meeting�paper.���

Your�Directors�seek�your�support�and�look�forward�to�your�attendance�at�the�meeting.�

Yours�sincerely�

Paul�Chapman� Chairman�

1

ENCOUNTER�RESOURCES�LIMITED� ABN�47�109�815�796�

NOTICE�OF�GENERAL�MEETING�

Notice�is�hereby�given�that�a�General�Meeting�of�Encounter�Resources�Limited�will�be�convened�at�9.00am�on�Tuesday,�7� December�2010�at�the�offices�of�Encounter�Resources�Limited,�Level�7,�600�Murray�Street,�Western�Australia.�

AGENDA�

ORDINARY�BUSINESS�

  • 1.� Approval�of�the�Issue�of�Equity�Securities�–�Share�Placement�

To�consider,�and�if�thought�fit,�to�pass,�with�or�without�modification,�the�following�ordinary�resolution:�

“That�for�the�purposes�of�Listing�Rule�7.1�and�for�all�other�purposes,�Shareholders��approve�the�allotment�and�issue�of� 7,500,000�Shares�pursuant�to�the�Placement�announced�on�27�October�2010�to�professional�and�sophisticated� investors�on�the�terms�and�conditions�set�out�in�the�Explanatory�Statement�accompanying�this�Notice.”��

The�issue�to�be�in�accordance�with�the�terms�and�conditions�set�out�in�the�Explanatory�Statement�accompanying�this� Notice�of�Meeting.�

GENERAL�NOTES�

  • 1.� The�Company�will�disregard�any�votes�cast�on�Agenda�Item�1�by�any�person�who�will�participate�in�the�issue�and�any� associate�of�that�person�(or�those�persons).�

Before�a�voting�exclusion�applies,�the�Company�need�not�disregard�a�vote�if:�

  • (a)� it�is�cast�by�a�person�as�proxy�for�a�person�who�is�entitled�to�vote,�in�accordance�with�the�directions�on�the� proxy�form;�or�

  • (b)� it�is�cast�by�the�person�chairing�the�meeting�as�proxy�for�a�person�who�is�entitled�to�vote,�in�accordance�with�a� direction�on�the�proxy�form�to�vote�as�the�proxy�decides.�

  • 3.� The�Explanatory�Statement�to�Shareholders�attached�to�this�Notice�of�General�Meeting�is�hereby�incorporated�into� and�forms�part�of�this�Notice�of�General�Meeting.�

  • 4.� The�Directors�have�determined�in�accordance�with�Regulation�7.11.37�of�the�Corporations�Regulations�that,�for�the� purposes�of�voting�at�the�meeting,�shares�will�be�taken�to�be�held�by�the�registered�holders�at�5.00pm�on�3�December� 2010.�

BY�ORDER�OF�THE�BOARD�

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Kevin�R�Hart� COMPANY�SECRETARY�

Dated�this�4[th] �day�of�November�2010�

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ENCOUNTER�RESOURCES�LIMITED� ABN�47�109�815�796�

EXPLANATORY�STATEMENT�

The�purpose�of�the�Explanatory�Statement�is�to�provide�shareholders�with�information�concerning�the�Agenda�item�in�the� Notice�of�General�Meeting.�

1.� Approval�of�the�Issue�of�Equity�Securities�–�Share�Placement�

On�27�October�2010�the�Company�announced�it�had�received�firm�placement�commitments�from�professional�and� sophisticated�investors�to�raise�$6�million�before�costs,�subject�to�shareholder�approval.�The�manager�of�the�placement�was� Bell�Potter�Securities�Limited.�

The�additional�funding�from�the�placement�will�enable�the�Company�to�significantly�expand�its�2011�exploration�campaign�at� the�BM1�copper�discovery�and�bring�forward�the�testing�of�additional�targets�at�the�Yeneena�project.�

The�Placement,�comprising�7,500,000�Shares�requires�prior�shareholder�approval�in�accordance�with�Listing�Rule�7.1�because� it�exceeds�the�Company’s�capacity�to�issue�equity�securities�under�Listing�Rule�7.1.���

Listing�Rule�7.3�requires�that�the�following�information�be�provided�to�Shareholders�for�the�purpose�of�obtaining�Shareholder� approval�pursuant�to�Listing�Rule�7.1:�

  • (a) the�maximum�number�of�Securities�to�be�issued�is�7,500,000�Shares;�

  • (b) the�Shares�will�be�issued�no�later�than�1�month�after�the�date�of�the�General�Meeting�and�it�is�intended�that� allotment�will�occur�on�the�same�date;�

  • (c) the�Shares�will�be�issued�for�$0.80�per�Share;��

  • (d) �the�Shares�will�be�allotted�and�issued�to�professional�and�sophisticated�investors,�none�of�whom�are�related� parties�of�the�Company;�

  • (e) the�Shares�issued�will�rank�equally�with�existing�Shares�on�issue�and�application�will�be�made�for�their�quotation� on�ASX;�

  • (f) the�funds�of�$6,000,000�which�will�be�raised�before�the�costs�of�the�issue�will�be�used�to�accelerate�and�expand� the�Company’s�exploration�programs�at�the�Yeneena�Project�and�to�provide�additional�working�capital.�

Effect�of�the�Placement�

The�pro�forma�capital�structure�of�the�Company�on�completion�of�the�Placement�will�be�as�follows:�

Securitiesonissueatthedateofthenotice
Securitiestobeissuedundertheplacementforwhich
shareholderapprovalissought
Securitiesonissueaftercompletionoftheplacement
Shares
Options
91,494,360
1,900,000
7,500,000
98,994,360
1,900,000

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PROXY�FORM�

To:� Encounter�Resources�Limited�(ABN:�47�109�815�796)�� Fax�No:�61�8�6210�1578� PO�Box�273� West�Perth�WA�6872�

Mark�this�box�with�an�‘X’�if�you�have�made�any�changes�to�your�address�details�(see�reverse)�

Name:��� ______________� (PLEASE�PRINT)� Address:�______________�

______________�

Appointment�of�Proxy:�

I/We�being�a�member/s�of�Encounter�Resources�Limited�and�entitled�to�attend�and�vote�hereby�appoint:�

The�Chairman�of�the�Meeting� (mark�with�an�‘X’)������������������� OR Write�here�the�name�of�the person�you�are�appointing if�this�� person�is �someone�other�than� the�Chairman�of�the�Meeting.�

Or�failing�the�person�named,�or�if�no�person�is�named,�the�Chairman�of�the�Meeting,�as�my/our�proxy�to�act�generally�at�the� meeting�on�my/our�behalf�and�to�vote�in�accordance�with�the�following�directions�(or�if�no�directions�have�been�given,�as�the� proxy sees�fit)�at�the�General�Meeting�of�Encounter�Resources�Limited�to�be�held�at�the�offices�of�Encounter�Resources� Limited,�Level�7,�600�Murray�Street,�West�Perth�on�Tuesday,�7�November�2010�at�9.00am�(Perth�time)�and�at�any� adjournment�of�that�meeting.�

Voting�directions�to�your�proxy�–�please�mark�� X to�indicate�your�directions�

For For For Against Against Against *Abstain *Abstain *Abstain
AgendaItem
1. ApprovaloftheIssueofEquitySecurities–SharePlacement .
  • *� If�you�mark�the�Abstain�box�for�a�particular�item,�you�are�directing�your�proxy�not�to�vote�on�you�behalf�on�a�show�of� hands�or�on�a�poll�and�your�votes�will�not�be�counted�in�computing�the�required�majority�on�a�poll.�

If�you�do�not�wish�to�direct�your�proxy�how�to�vote,�and�wish�him�or�her�to�vote�at�his�or�her�discretion,�please�place�a�mark� in�this�box.�

By�marking�this�box,�you�acknowledge�that�the�Chairman�may�exercise�your�proxy�even�if�he�has�an�interest�in�the�outcome� of�the�resolution,�and�votes�cast�by�him�other�than�as�proxy�holder�will�be�disregarded�because�of�that�interest.�If�you�do�not� mark�this�box,�and�you�have�not�directed�your�proxy�how�to�vote,�the�Chairman�of�the�meeting�will�not�cast�your�vote�on�the� resolutions�and�your�vote�will�not�be�counted�in�computing�the�required�majority�if�a�poll�is�called.�

PLEASE�SIGN�HERE This�section� must �be�signed�in�accordance�with�the�instructions�overleaf�to�enable�your� directions�to�be�implemented .�

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Individual�or�Securityholder�1� Securityholder�2� Securityholder�3�
Individual�/�Sole�Director�and� Director� Director/Company�Secretary�
Sole�Company�Secretary�
��������/��������/�
Contact�Name� Contact�Daytime�Telephone� Date�
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HOW�TO�COMPLETE�THE�PROXY�FORM

1�

Your�Name�and�Address�

This�is�your�name�and�address�as�it�appears�on�the�company’s�share�register.�If�this�information�is�incorrect,�please� mark�the�box�and�make�the�correction�on�the�form.�Securityholders�sponsored�by�a�broker�should�advise�their� broker�of�any�changes.�� Please�note,�you�cannot�change�ownership�of�your�securities�using�this�form.�

2� Appointment�of�a�Proxy�

If�you�wish�to�appoint�the�Chairman�of�the�Meeting�as�your�proxy,�mark�the�box.�If�the�person�you�wish�to�appoint� as�your�proxy�is�someone�other�than�the�Chairman�of�the�Meeting�please�write�the�name�of�that�person�in�the� space�provided.�If�you�leave�this�section�blank,�or�your�named�proxy�does�not�attend�the�meeting,�the�Chairman�of� the�Meeting�will�be�your�proxy.�A�proxy�need�not�be�a�securityholder�of�the�company.��The�Chairman�intends�to� vote�in�favour�of�resolutions�for�which�no�voting�indication�has�been�given.�

3�

Votes�on�Items�of�Business�

You�may�direct�your�proxy�how�to�vote�by�placing�a�mark�in�one�of�the�boxes�opposite�each�item�of�business.�All� your�securities�will�be�voted�in�accordance�with�such�a�direction�unless�you�indicate�only�a�portion�of�voting�rights� are�to�be�voted�on�any�item�by�inserting�the�percentage�or�number�of�securities�you�wish�to�vote�in�the� appropriate�box�or�boxes.�If�you�do�not�mark�any�of�the�boxes�on�a�given�item,�your�proxy�may�vote�as�he�or�she� chooses.�If�you�mark�more�than�one�box�on�an�item�your�vote�on�that�item�will�be�invalid.�

4�

Appointment�of�a�Second�Proxy�

You�are�entitled�to�appoint�up�to�two�persons�as�proxies�to�attend�the�meeting�and�vote�on�a�poll.�If�you�wish�to� appoint�a�second�proxy,�an�additional�Proxy�Form�may�be�obtained�by�telephoning�the�company’s�share�registry�or� you�may�copy�this�form.�

To�appoint�a�second�proxy�you�must:�

  • (a)� on�each�of�the�first�Proxy�Form�and�the�second�Proxy�Form�state�the�percentage�of�your�voting�rights�or� number�of�securities�applicable�to�that�form.�If�the�appointments�do�not�specify�the�percentage�or�number�of� votes�that�each�proxy�may�exercise,�each�proxy�may�exercise�half�your�votes.�Fractions�of�votes�will�be� disregarded.�

  • (b)�return�both�forms�together�in�the�same�envelope.�

5� Signing�Instructions�

You�must�sign�this�form�as�follows�in�the�spaces�provided:�

Individual :��where�the�holding�is�in�one�name,�the�holder�must�sign.�

Joint�Holding: ��where�the�holding�is�in�more�than�one�name,�all�of�the�securityholders�should�sign.�

Power�of�Attorney:� �to�sign�under�Power�of�Attorney,�you�must�have�already�lodged�the�Power�of�Attorney�with� the�registry.�If�you�have�not�previously�lodged�this�document�for�notation,�please�attach�a�certified�photocopy�of� the�Power�of�Attorney�to�this�form�when�you�return�it.�

Companies: ��where�the�company�has�a�Sole�Director�who�is�also�the�Sole�Company�Secretary,�this�form�must�be� signed�by�that�person.�If�the�company�(pursuant�to�section�204A�of�the�Corporations�Act�2001)�does�not�have�a� Company�Secretary,�a�Sole�Director�can�also�sign�alone.�Otherwise�this�form�must�be�signed�by�a�Director�jointly� with�either�another�Director�or�a�Company�Secretary.�Please�indicate�the�office�held�by�signing�in�the�appropriate� place.�

If�a�representative�of�a�corporate�securityholder�or�proxy�is�to�attend�the�meeting,�the�appropriate�"Certificate�of� Appointment�of�Corporate�Representative"�should�be�produced�prior�to�admission.�A�form�of�the�certificate�may� be�obtained�from�the�Company's�share�registry.�

  • 6.� Lodgement�of�a�Proxy�and�Deadline�for�Receipt�of�Proxy�

This�Proxy�Form�(and�any�Power�of�Attorney�under�which�it�is�signed)�must�be�received�at�the�address�given�below� no�later�than�9.00am�(Perth�time)�on�5�December�2010,�being�48�hours�before�the�commencement�of�the� Meeting.�Any�Proxy�Form�received�after�that�time�will�not�be�valid�for�the�scheduled�meeting.�

Documents�may�be�lodged�by�post,�delivery�or�facsimile�to�the�Registered�Office�of�Encounter�Resources� Limited�being:�

Level�7,�600�Murray�Street,�West�Perth�WA�6005�

Or�by�facsimile�to�fax�number�+61�8�6210�1578

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