ENEGEX LIMITED — Capital/Financing Update 2019

Jun 17, 2019

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ASX RELEASE

18 June 2019

EXPLORATION LICENCE APPLICATIONS

Enegex Limited (ASX:ENX) has expanded its focus over recent years, considering avenues created by advances in energy generation, transmission and storage. Enegex has considered exploration opportunities for strategic energy, transmission and storage materials and is pleased to advise that it has made application for two exploration licenses in the eastern margin of the Kimberley Basin in Western Australia (refer Figure 1).

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Figure 1 Enegex Application Areas shown on regional geology

Enegex Limited ABN 28 160 818 986

Level 21 500 Collins Street Melbourne t +61 3 8610 4713 e admin@Enegex.com w www.Enegex.com

Enegex has identified the area covered by its two applications as offering prospectivity for Vanadium, Cobalt-Nickel, PGE and Fluorite mineralisation.

The geology of the tenements has been mapped as “Hart Dolerite”, a regionally extensive Proterozoic sill complex which has historically not been considered prospective. The tenement areas have accordingly been the subject of only limited exploration, focused on gold and diamonds (refer Figure 2).

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Figure 2: Historical Exploration in and around Enegex Application Areas shown on regional magnetics (reduced to pole_first vertical derivative)

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Enegex has identified three recent advances in geological understanding that alter the prospectivity of the Hart Dolerite:

• Recent mapping and exploration of the Speewah Dome, immediately to the north of the Enegex tenement areas, has identified that the Hart Dolerite comprises a layered intrusive suite of rocks (Intrusive Suite), and that the prospective part of the Intrusive Suite is the Disseminated Magnetite Gabbro which hosts the Speerwah Dome Vanadium Deposit (adjacent to the Enegex application area). Disseminated gold and copper also identified in the sulphides of the Intrusive Suite indicate potential for reef-type PGE mineralization in the upper, differentiated, magnetite-rich parts of the layered intrusion.

• Geological Survey WA (GSWA) regolith sampling has identified high cobalt and coincident high nickel anomalies in Hart Dolerite, indicating prospective fertile host rocks for these minerals within the Suite.

• A later epithermal event has been identified in the Hart Dolerite in the Speewah area with carbonate and epithermal fluorite overprinting the dolerite. Fluoride is currently being investigated as a potential replacement for lithium batteries.

The limited historical exploration in the Enegex application areas has not determined which units of the Intrusive Suite are exposed. Thus, following grant of exploration licenses, Enegex intends to conduct exploration activities to determine the presence or otherwise of prospective units within the tenement area.

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