ENTERPRISE METALS LIMITED — Board/Management Information 2012

Apr 2, 2012

ENTERPRISE M ETALS LIM ITED

==> picture [54 x 54] intentionally omitted <==

ASX ANNOUNCEMENT 3 April 2012

RESIGNATION OF MR PAUL LARSEN

& APPOINTMENT OF DR ALLAN TRENCH AS NON-EXECUTIVE DIRECTOR

Enterprise Metals Limited (“Enterprise” or “the Company”, ASX: “ENT”) wishes to advise of the resignation of Mr Paul Larsen from his non-executive Director’s role. Mr Larsen was the founding Chairman of Revere Mining Limited (now Enterprise) at IPO in 2007 and has steered the Company from a market capitalisation at listing of $8 million to over $34 million in 2012.

Mr Larsen commented: “I have tendered my resignation in the best interests of the Company, so that the Board can add more geological experience to the team, and I am pleased that the Board has appointed such a strong candidate in Dr Allan Trench”.

Enterprise’s Chairman, Dr Jingbin Wang said: “ on behalf of the Enterprise Board, I would like to thank Mr Larsen for his foresight, energy and persistence in growing Enterprise from a one project junior explorer to the explorer it is today, with an enviable portfolio of iron ore, uranium, gold and base metals projects. We are now entering an exciting phase in 2012 where Enterprise is commencing to systematically drill test the projects that Paul has nurtured, and we are looking forward to the discovery of many orebodies”.

Contemporaneous with Mr Larsen’s resignation, the Board has appointed Dr Allan Trench as an independent non-executive Director of the Company. Dr Trench is a geologist/geophysicist, mineral economist and business management consultant with extensive minerals industry experience.

Dr Trench graduated with a BSc (Hons) Geology from the Royal School of Mines, London in 1985, and subsequently completed a Ph.D (Geophysics) at Glasgow University in 1988. He was a Research Fellow (Geophysics) at Oxford University in 1989 and 1990, and at the University of Western Australia in 1991 and 1992. He also completed an MBA (Distinction) at Oxford University (1999) and an MSc (Distinction) in Mineral Economics at the WA School of Mines (1997).

For ten years, commencing in 1992, he led nickel and gold/base metal exploration teams in the Yilgarn region of WA, initially for WMC Resources in the Widgiemooltha-Pioneer and Leinster-Mt Keith regions of WA (1992-1996), and subsequently for a group of junior ASX listed companies exploring in the broader Kalgoorlie region (1997 to 2001).

From 2002 Dr Trench worked as a business consultant for McKinsey and Company, then as a manager at KCGM Pty Ltd and Woodside Petroleum, and more lately as a consultant with CRU Group, providing business analysis and intelligence on the global mining and metals and markets. He has authored of 8 books on finance and strategic management and over 50 technical articles on geology and geophysics. He is currently Adjunct Professor ( Spatial Sciences) at WA School of Mines, Curtin University, Research Professor, Progressive Risk & Value, Centre for Exploration Targeting, University of Western Australia and Professor, Department of Energy & Mineral Economics, Curtin University Graduate School of Business. He is also non-executive independent director of a number of emerging overseas and Australian-listed resources companies.

ENTERPRISE METALS LIMITED (ACN 123 567 073) 1 | P a g eP a g e

1 | P a g eP a g e

==> picture [54 x 54] intentionally omitted <==

ENTERPRISE M ETALS LIM ITED

Dr Wang has welcomed Dr Trench’s appointment and said: “the extensive exploration experience and commodity knowledge of Dr Trench will further strengthen the already strong Enterprise board”.

ABOUT ENTERPRISE METALS LIMITED

The Corporate Objective of Enterprise is “ above average returns to Shareholders through successful multi-commodity exploration and the growth of the organisation into a major highly profitable mining company.”

Since listing in June 2007, the Company has assembled a quality portfolio of iron ore, uranium, gold and base metal projects in Western Australia. It is now entering the next phase of its development, which is the drill testing of its iron ore, uranium, gold and base metal targets.

The Company has a strong management team and experienced Board of Directors, supported by a strong technical team. At 31[st] December 2011 the Company had over $11.5 million cash at bank and no debt. The objective of the exploration plan over the next 12 months is to convert the Company’s exploration targets into resources and reserves, and build a major mining and exploration house.

==> picture [113 x 44] intentionally omitted <==

Dr Jingbin Wang Chairman

Contact:

Telephone: 08 9436 9200 Facsimile: 08 9436 9299 Email: admin@enterprisemetals.com.au

www.enterprisemetals.com.au

ENTERPRISE METALS LIMITED (ACN 123 567 073) 2 | P a g eP a g e

2 | P a g eP a g e

ENTERPRISE M ETALS LIM ITED

==> picture [54 x 54] intentionally omitted <==

PROJECT LOCATIONS WESTERN AUSTRALIA 3 April 2012

==> picture [446 x 445] intentionally omitted <==

ENTERPRISE METALS LIMITED (ACN 123 567 073) 3 | P a g eP a g e

3 | P a g eP a g e