ENTERPRISE METALS LIMITED — AGM Information 2012

Nov 27, 2012

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Enterprise
Metals
Enterprise Metals Limited
Limited
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Post AGM Shareholder Briefing

28 November 2012

Enterprise Metals Limited

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Enterprise
Metals
Limited
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At a glance:

Issued Capital 213.22 million shares Share price $0.17 (at open 28 Nov 2012) $36.2 million Cash at bank $8.42 million @ 30 Sep 2012

Market Capitalisation Cash at bank

______ Listed & Unlisted Options

_______ 60.2 million @ 25 cents (11/2012 - 7/2014) 2.5 million @ 50 cents (6/2013) 7.6 million @17.7cents (9/2015)

 Major Shareholder SinoTech 72.0 million shares (33.7%)

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Enterprise Metals Limited

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Enterprise
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Issued Capital ENT 213.22 million ENT shares Distribution ENU 1:5 New shares (42.6m ENU) (~60%) New investors (min 150) $0.4m min (2m ENU) $1.4m max (7m ENU) Cornerstone Investors ~$2.0m (10m ENU) ENT Investment ~$2.7m (13.5m ENU) (~18%)

Cornerstone Investors ENT Investment TOTAL ENU

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Enterprise
Metals
DIRECTORS Limited
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Dr. Jingbin Wang BSc, MSc, PhD - Chairman (Non-Executive)  Geologist with 26 years multi-commodity, multi-national experience Dermot Ryan BApSc (Geo), FAusIMM, CP (Geo) - Managing Director  Geologist with 35 years multi-commodity experience Anna Mao MBA - Director (Non-Executive)  MBA from Richard Ivey Business School of Western Ontario University Paul Hallam BE Mining (Hons), FAusIMM, FAICD - Director (Non-Executive)  Mining engineer/operations director, 35 years multi-commodity experience. Dr. Allan Trench BSc Geo (Hons) PhD (Geophysics) MSc (Mineral Economics) MBA (Oxon) MAusIMM, MAICD - Director (Non-Executive)  Geophysicist/geologist, mineral economist, management consultant. Dennis Wilkins: Company Secretary & CFO

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Enterprise
Metals
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Project Locations
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Gold & Base Metals

 Doolgunna (Cu/Au)

• Fraser Range (Ni/Cu, Au)

• Darlot (Au, Cu/Zn)

 Wattagee (Au, Cu/Zn)

• Burracoppin (Au,Ni/Cu/PGE)

Iron Ore

 Earaheedy

• Sylvania

• Booylgoo

• Burracoppin

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Enterprise
Metals
GOLD & BASE METALS STRATEGY Limited
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GOLD

Explore Archaean greenstone belts for oxide & high grade primary ore, within trucking distance of mills. (Darlot, Yalgoo, Burracoppin) COPPER/GOLD (ZINC) Explore prospective Proterozoic Volcanics and Sediments near De Grussa (VMS and sediment hosted) & Archaean Felsic sequences near Golden Grove and Jaguar-Bentley. (VMS)

NICKEL/COPPER Explore prospective Albany-Fraser Range Proterozoic Orogenic zone for Nova style Ni/Cu.

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Enterprise
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Doolgunna Project – The Model
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Sandfire Resources NL - DeGrussa Mine  11.91 Mt @ 5.3% Cu, 1.8g/t Au, 15g/t Ag  652,000 t copper; 742,000 oz gold; 5.1m oz silver  Plan Revenue: $4.2B  Cashflow (pre-tax): $2.4B

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“With the discovery of these four VMS lenses at DeGrussa, Sandfire has embarked on an aggressive exploration program ($20-25Mpa) targeting potential repeats of the DeGrussa deposits. Most significant VMS deposits around the world occur in clusters that define major mining camps and major sources of global copper, zinc, lead production.

Sandfire has identified a 30km long, 1.2km wide prospective corridor surrounding the DeGrussa mining operation that is yet to be fully explored at depth. Of this corridor, only 1.2km strike length has been intensively explored to 600m vertical depth and only minimal drilling has been conducted below 50m depth outside of the central mine corridor.” (Sandfire Website 2012)

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Enterprise
Metals
DOOLGUNNA PROJECT Limited
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2012:

 Aircore drilling for oxide Au/Cu “blankets” along Vulcan & Goodin Fault trends. 385 holes/23,190m

• Substantial soil sampling programs.

2013 Plan:

 RC drilling at Vulcan & Goodin Fault prospects following up Aircore results.  Regional Aircore drilling along Southern Boundary Fault & Goodin Dome margin.

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Enterprise
Metals
DOOLGUNNA PROJECT Limited
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 Aircore drilling for oxide Au/Cu “blankets” along Vulcan trend.

 2012 Drilling Results

DNAC133 15m @ 2.03 g/t Au from 35m incl. 7m @ 3.66 g/t Au from 42m & 14m @ 1.01 g/t Au from 54m

DNAC136 6m @ 4.85 g/t Au from 49m incl. 1m @ 19.0 g/t Au from 49m

DNAC165 12m @ 1.80 g/t Au from m incl. 4m @ 3.55 g/t Au from m

DNAC239 3m @ 2.80 g/t Au from m incl. 1m @ 7.54 g/t Au from m

Vulcan Prospect

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Enterprise
Metals
DOOLGUNNA PROJECT Limited
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 Aircore drilling for oxide Au/Cu “blankets” along Vulcan trend.

 2012 Drilling Results

DNAC133 15m @ 2.03 g/t Au from 35m incl. 7m @ 3.66 g/t Au from 42m & 14m @ 1.01 g/t Au from 54m DNAC136 6m @ 4.85 g/t Au from 49m incl. 1m @ 19.0 g/t Au from 49m DNAC165 12m @ 1.80 g/t Au from 8m incl. 4m @ 3.55 g/t Au from 8m

DNAC239 3m @ 2.80 g/t Au from 111m incl. 1m @ 7.54 g/t Au from 113m

Vulcan Prospect – Schematic Cross Section

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Enterprise
Metals
DOOLGUNNA PROJECT Limited
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Goodin Fault Prospect

 Aircore drilling for oxide Au/Cu “blankets” along Goodin Fault zone.

 2012 Drilling Results

DNAC066 4m @ 12.30g/t Au from 72m DNAC311 4m @ 19.50g/t Au from 20m DNAC305 4m @ 2.99g/t Au from 60m DNAC281 4m @ 1.11g/t Au from 56m  Oxide gold intersections lie close to previous IP zones.

 AC and RC follow up drilling required.

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Enterprise
Metals
Limited
Doolgunna Project
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2013: Regional Program

Sediment Hosted Cu(Zn) targets

• “Doolgunna Graben” concept.

 Potential for “Isa” or “Zambian” style massive sulphides along Southern Boundary Fault (SBF ~80km).

 Expect deep oxidation(~60-80m) & extensive secondary Cu blankets over primary ore zones.

AC and RC drilling over SBF in areas of magnetic lows at REDOX(?) boundary.



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Enterprise
Metals
Fraser Range Project – Ni/Cu Model Limited
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Sirius Resources NL – Nova discovery

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 Soil sampling at 800m x 400m

 Infill soil sampling

 Scout RC drilling

 DC drilling

 EM survey

 RC discovery hole SFR024 4m 2 3.8% Ni, 1.4% Cu from 191m

Further RC & DC drilling

 IP surveys

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Enterprise
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Fraser Range Project
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Targets: Proterozoic Ni/Cu deposits Orogenic Au deposits

2012:

 Regional soil sampling

1,744 calcrete samples



1,853 soil samples

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Enterprise
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Fraser Range Project
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Nova

2012 Program

 Soil sampling at 800m x 400m  Plato, EH1,2,3 & McPhersons prospects identified

 Infill soils 200m x 100m

 Plato soil results outstanding

 Co-incident magnetic anomaly  Intrusive ultramafic body(?)

 Plato IP survey in progress

2013 Program

Plato Prospect

 Plato RC drill IP targets(?)  Follow up soil results at other prospects

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Enterprise
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Darlot Project
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Historic Gold drilling results on magnetics

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Targets: Archaean Orogenic Au deposit & VMS Cu/Zn deposits  Excellent gold/base metal targets based on previous RAB drilling & structural interpretation.  Favourable stratigraphy, underdrilled.  . Hungry mill at Bronzewing  2012 Review identifies untested oxide gold targets.

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Enterprise
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Darlot Project
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Au Mineralised OT Shear Zone

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Targets: Archaean Orogenic Au deposit

 Excellent gold/base metal targets based on previous RAB drilling & structural interpretation.  Favourable stratigraphy, underdrilled.  . Hungry mill at Bronzewing  2012 Review identifies untested oxide gold targets.

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Enterprise
Metals
Darlot North Limited
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2012:

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 14 RC holes (2,333m)  36 AC holes (1,744m)

Hole	From	To	Int	Aug/t
WFRC001	57	58	1	1.65
WFRC002	74	76	2	1.44
WFRC002	99	100	1	1.39
WFRC003	63	65	2	0.95
WFRC003	78	79	1	1.57
WFRC003	94	95	1	1.23
WFRC003	99	103	4	1.42
WFRC004	46	48	2	1.23
WFRC004	52	53	1	3.45
WFRC004	99	100	1	3.49
WFRC004	108	115	7	1.44
WFRC005	113	116	3	0.93
WFRC006	73	77	4	0.79
WFRC007	52	54	2	1.18
LYRC001	39	40	1	1.76
	57	63	6	2.33
Incl.	60	61	1	8.4
LYRC002	82	85	3	0.95
	169	170	1	1.78
LYRC003	96	97	1	2.99

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Enterprise
Metals
Darlot South Limited
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Target: ArchaeanVMS Cu/Zn deposits

 Felsic volcanics hosting Jaguar and Bentley, present in ENT tenements.

 Area drilled for gold 1980 -1990’s.

2011/2012 : Existing drill hole spoil re-sampled for base metals (inc Cd) and alteration minerals associated with expected VMS halo.

 2013 : Scout AC drilling

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Enterprise
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Limited
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Massive hematite & goethite outcrop, Sylvania Project

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Enterprise
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Earaheedy Project
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Targets: Channel Iron (CID) & Detrital Iron (DID) deposits (eg Koodaideri like)  Proterozoic Bif’s in Earaheedy/Nabberu Basin. 600sq km, granted April 2011.

• “ Magnetic channels ” - 400m line spaced magnetics suggest CID/DID’s present.

• 2011: 100m line spaced Airborne magnetic/radiometric survey flown confirms channels.

• 2012: Drill sites selected, NT claimant negotiations for Heritage Survey in early 2013.

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Enterprise
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Earaheedy Project
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2012 Plan: RC drilling

Detailed Airborne Magnetic Survey Image

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Enterprise
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Sylvania Project
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Targets:

1. Proterozoic hematite, “Hamersley style.”

2. Channel Iron (CID) or Detrital Iron (DID) on Fortescue River Fault.

2012:

POW approved.

• .

• 2 Heritage surveys completed

2013:

RC drill test of CID/DID and hematite targets.

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Enterprise Metals Limited

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• 50km strike of Archaean “Westonia” greenstone belt (Fe, Au potential)

• Some scattered outcrops of Bif and goethite and some hematite scree.

• Same rocks as host Edna May goldmine. (100,000pa gold producer)

• Flat, deeply weathered, little outcrop, “farmers wheat paddocks.”

• 2011: RC drill testing gold soil anomalies.

• 2012: RC Drill testing iron & gold targets.

• 2013: Data review, Ni/Cu/PGE & Au

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Enterprise
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• 100m line spaced aeromagnetic surveys flown by Enterprise.

 10’s km of linear magnetic anomalism defined, some associated with subcropping & mapped Bif.

• Magnetic lows may represent deep weathering & hematite.

• Gold potential at Burgess Find.

• Ni,Cu,PGE potential in magnetic intrusve body

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Burgess Find Gold Target

• High grade gold in veins at sheared contact between mafic/ultramafic unit to west and gneiss to east.

• Soil sampling indicates gold anomalism over 2km of strike.

• Soil sampling not completed due to transported cover. (RAB/aircore drilling 2012)

• Limited shallow historical RC drilling. (1981-1987)

• Deeper RC drilling required to adequately test primary zone.

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Enterprise
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2012:

• 10 RC Holes (1,362m)

• Spring Well 4 holes - Fe

• magnetic mafic gneiss

• Burgess Find 6 holes – Au

BURC033 1m @ 10.50g/t Au from 54m BURC033 9m @ 0.56g/t Au from 70m BURC034 1m @ 4.96g/t Au from 72m BURC038 3m @ 3.16g/t Au from 25m BURC039 6m @ 1.65g/t Au from 102m

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2012:

• Detailed ENT magnetic/radiometric survey.

• 28km strike magnetic Bif.

• Limited rockchip sampling : grades 25 - 62%Fe.

• 30 RC holes (2,076m) - seven traverses

• Goethite/hematite capping limited in depth extent

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2012:

Hole_ID	From	To	Int	Fe %	SiO2 %	Al2O3 %	P %	LOI %
BGRC001	31	47	16	36.1	42.9	1.6	0.034	3.20
BGRC003	0	11	11	37.4	25.5	10.8	0.027	8.84
BGRC009	0	38	38	35.3	34.8	7.1	0.048	6.09
BGRC014	0	42	42	41.0	32.5	3.8	0.061	4.59
Incl	0	28	28	45.2	24.1	4.8	0.072	5.88
BGRC015	14	20	6	37.6	28.9	9.0	0.078	6.93
BGRC017	46	67	21	39.1	55.2	5.7	0.096	5.67
BGRC018	0	24	24	44.4	22.9	7.1	0.037	6.10
BGRC023	28	34	6	50.9	12.7	3.6	0.006	8.74
BGRC024	0	9	9	40.8	20.9	9.3	0.025	9.12

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Enterprise
Metals
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Reporting of Exploration Results
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The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dermot Ryan, a Fellow of the Australasian Institute of Mining & Metallurgy. Mr Ryan is an employee and Director of the Company.

Mr Ryan has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 Ryan consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.