ENTERPRISE METALS LIMITED — Capital/Financing Update 2007

Jul 16, 2007

17 JULY 2007

ASX ANNOUNCEMENT

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DRILL PROGRAM AND GEOPHYSICAL SURVEY COMMENCEMENT

• The first comprehensive exploration starts at highly prospective Revere Project

• 2000m Aircore Drilling at the Revere Project to commence this week.

• Program adds to previous drilling including infill for determining mineral contraints.

• Airborne Survey commissioned over 550km2 of Revere Project to define mineral structure positions.

Revere Mining Ltd (ASX CODE: RVM) (Revere) will commence drilling on the Revere Project this week. Approximately 2000m of aircore drilling is proposed on two areas of the project together with infill sampling. The program adds to initial drilling undertaken by the previous owners.

Revere has contracted UTS Geophysics to fly a detailed airborne magnetic survey over 550Km2 of the Revere Project area. The primary objective of the survey is to define the position of structures which are interpreted to be associated with the gold mineralization in the region. The survey will mainly assist with the interpretation of the geology of the immediate project area.

Greater Revere is considered highly prospective as it’s ‘footprint’ sits over the intersection of two major ore rich continental lineaments (see figures 1 and 2). The project area covers Palaeoproterozoic rocks of the Bryah and Yerrida Groups affected by the collision of the Pilbara and Yilgarn Cratons. Exploration of the area to date has been largely superficial.

Revere raised $3.5 million in its initial public offering to fund an extensive drilling program at key targets in and around a geological-geophysical-geochemical anomaly known as the Greater Revere Anomaly near Meekathara in Western Australia’s Mid West region.

ENDS

For more information:

Syd Morete Executive Director Office: 08 6462 0388 Mob: 0428 943 420 Email: info@reveremining.com.au

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Revere Mining Limited

The Greater Revere Project – located 750km northeast of Perth near Meekathara in Western Australia’s Mid West region – is considered highly prospective for gold as it’s ‘footprint’ sits over the intersection of the northeast trending Greenbushes-Ranger continental lineament and the northwest trending Peak HillBroken Hill continental lineament (see figures 1 and 2).

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Figure 1

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Revere Mining Limited has secured almost 1,000km[2] of tenements centred at the crossroads of two major ore rich continental lineaments.

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