EV RESOURCES LTD — Capital/Financing Update 2023

Jul 12, 2023

ASX ANNOUNCEMENT

13[th] July 2023

EVR Signs Community Agreement at Don Enrique

Highlights:

• Binding agreement signed with local community at Quero, near the Don Enrique Copper Silver Project in Peru.

• EVR successfully completed constructive community engagement meetings with key representatives of the Quero community.

• A drilling application permit, which requires community approval under Peruvian regulations, is being finalised for submission.

• An initial 2500m HQ diamond drilling programme is planned

EV Resources Limited (ASX:EVR) (“ EVR ”, or the “ Company ”), is pleased to announce that the Don Enrique copper project has reached a significant milestone with the signing of a binding agreement with the local community (Quero), through the Company’s Peruvian subsidiary Minera Montserrat S.A.C (EVR 50%).

EV Resources Managing Director, Hugh Callaghan, commented:

“The support of the Quero community is an important step forward to drilling Don Enrique, and we are proud of our culture of working closely with communities as a good and committed neighbour.

“We believe Don Enrique has exciting exploration potential, and along with the advanced and high-grade Anta Parag Copper-Molybdenum project, our Peruvian-American copper portfolio is evolving according to plan.”

The Quero community is located in Jauja, Peru near the Don Enrique Copper Project, and under Peruvian regulation the submission of a drilling application requires approval from local communities. This agreement supports the application for the drilling permit at Don Enrique and provides for certain investments in the community by EVR over a 24 month period. This follows on a successful programme for the previous 12 months in which EV Resources delivered on its obligations, and a co-operative relationship was established.

The Company’s Head of Latin American Exploration Gonzalo Lemuz, General Director Giorgio Albertini, and Communities Advisor Rita Armas successfully completed several constructive communities’ engagement meetings with key representatives of the Quero Community. The meetings were well received by the community and allowed the Company to provide a thorough explanation of planned exploration at the Don Enrique Copper Project.

evresources.com.au

311-313 Hay St Subiaco, Western Australia 6008 +61 (0) 8 6489 0600 info@evresources.com.au

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Figure 1: EV Resources team with members of the local community

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Figure 2 : The Assembly of the Community of Quero

evresources.com.au

311-313 Hay St Subiaco, Western Australia 6008 +61 (0) 8 6489 0600 info@evresources.com.au

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Figure 3 : EVR Management holding Community Assembly Meetings

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Figure 4 : EVR Management Executing Agreement with Representatives of the Quero Community

Don Enrique is a drill ready copper project for which EVR is preparing an initial 2,500m diamond drilling campaign. Following successful Induced Polarisation and Ground Magnetics Geophysics programmes, the Company has multiple substantial sulphide anomalies to drill test.

(See ASX announcement of 30[th] May 2023 “ IP Survey at Don Enrique confirms immediate drill targets ”).

-ENDS-

This ASX announcement was authorised for release by the Board of EV Resources Limited.

evresources.com.au

311-313 Hay St Subiaco, Western Australia 6008 +61 (0) 8 6489 0600 info@evresources.com.au

For further information, please contact:

Luke Martino Hugh Callaghan Non-Executive Chairman Managing Director Tel: +61 8 6489 0600 Tel: +61 8 6489 0600 E: luke@evresources.com.au E: hugh@evresources.com.au

Forward Looking Statement

Forward Looking Statements regarding EVR´s plans with respect to its mineral properties and programs are forward-looking statements. There can be no assurance that EVR’s plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that EVR will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of EVR’s mineral properties. The performance of EVR may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

evresources.com.au

311-313 Hay St Subiaco, Western Australia 6008 +61 (0) 8 6489 0600 info@evresources.com.au