PROJECT

Agadez Uranium Project

Kalahari Copper Belt

Horseshoe West Project

Agadez Uranium Project

Kalahari Copper Belt

Horseshoe West Project

Agadez Uranium Project

Tim Mersoi Basin, Niger

Underexplored Project in World Class Uranium Basin

ENRG recently acquired the Agadez Uranium Project located in the highly prospective Tim Mersoï Basin, Niger, a mining jurisdiction with a long history of uranium production.
100% of 3 exploration permits (726km²) and an exploration licence application.
The Project hosts similar geology to Orano SA’s Cominak/Somair and Imouraren mines and deposits held by Global Atomic Corporation (TSE:GLO) and GoviEx Uranium (CVE:GXU).
Agadez Project Mineral Resource Estimate (MRE) updated to JORC 2012 standard, with the Takardeit deposit now holding an Inferred Resource of 16.5Mt at a grade of 295ppm eU₃O₈ for 10.7Mlbs (at 150ppm cut-off).
Exploration Program commenced in June 2022, aiming to confirm and extend uranium mineralisation previously delineated within Jurassic formations (Tchirezrine I and Mousseden) in the Takardeit prospect.
>24,000m of Percussion, Mud Rotary and Diamond drilling already completed on tenement package.
Recently acquired and reviewed historical exploration information further supports tenement prospectivity and confirms mineralization across the Agadez Project.
>17% U₃O₈ highest assay recorded from samples of sandstone outcrops at Takardeit.
Tenements were previously acquired by Paladin Energy Ltd for AU$27M when uranium prices were ~US$45/lb².
Niger has one of the world’s largest uranium reserves and is the fourth-highest uranium producer globally.
Strong Niger government and community support for new foreign investment.

Map of Kopore’s tenements and location in the Tim Mersoi Basin

(1) See Company announcement “Kopore to acquire Niger uranium project in uranium-rich Tim Mersoi Basin” on 9 December 2021.

(2) At the time of Paladin’s acquisition of NGM, NGM also held metal exploration tenements in Madagascar. The original uranium tenements covered an area of ~1,500km². In 2013, Paladin Energy relinquished 50% of the uranium tenements. The areas retained by Paladin reflect the Permits proposed to be acquired by KMT. In 2016, Paladin relinquished all title in the permits and has no on-going interest in the Agadez Project.

(3) World Nuclear Organisation, September 2021;

Exploration Program Underway at Agadez

Recently Acquired Data Shows Significant Potential

Exploration program to commenced in June 2022 at the Agadez Uranium Project, which aims to confirm and extend uranium mineralisation previously delineated within Jurassic formations (Tchirezrine I and Mousseden) in the Takardeit prospect (NGM’s historical resource area).
The exploration program consists of both a drilling campaign as well as logging and surface sampling, with drilling to commence in June 2022 for a total of 5,500m, for approximately 5,340m of rotary mud drilling and 160m of diamond core.
The Company expects the drill program to be completed in August 2022, with downhole gamma and assay results to follow.

“We are delighted to have commenced exploration program at the Agadez Project shortly after completing the acquisition. With a total of 5,500 metres of drilling planned to commence in June, and ENRG having recently confirmed the Project as prospective for uranium, it is an exciting time for shareholders as we continue to build value.”

Caroline Keats
Managing Director

2011 Paladin Exploration Data

Recently Acquired Data Shows Significant Potential

The Company reviewed recently acquired previously unannounced historical drilling information for Agadez from Paladin and confirmed the project as prospective for uranium.₂
The information includes geological and geophysical information, surveys, photographs, in addition to drill logs and assay results from Paladin’s 2011 drilling program.
Of this extensive program, 31 drill holes covering 6,595m are on the leases currently controlled by ENRG.
Significant intervals from Paladin’s drill program outside of the Takardeit resource area include:

TOU016: 2m @ 0.17% (1,735 ppm) eU₃O₈ from 229.5m
TER010: 2m @ 0.14% (1,384 ppm) eU₃O₈ from 48.5m
TER008: 1m @ 0.17% (1,697 ppm) eU₃O₈ from 148.7m

Substantial number of follow-up targets identified for future exploration programs

ASX Announcement – 7 April 2022 – Review of Historical Data Confirms Prospectivity of Agadez Uranium Project

“The Results and significant intersections have confirmed Agadez as prospective for uranium and have significantly improved our geological understanding of the Project. Importantly, with potential for higher grade areas of mineralisation within the Takardeit Inferred Mineral Resource, ENRG has used this data to define and guide the exploration program which is currently underway.”

Caroline Keats
Managing Director

Geological map of the Permits showing the NGM and Paladin drill hole locations and main prospects

Paladin’s drill program targeted regional identification of high-grade uranium mineralization in the Lower Carboniferous stratigraphy as well as in shallow Jurassic sediments similar to those hosting the Takardeit resource.
ENRG’s technical consultants identified and confirmed mineralisation potential:

Across the tenement package; and
For higher-grade areas within the existing Takardeit Mineral Resource (JORC (2004))(1), with mineralisation from surface to 30m.

Economic deposits occurring along WNW and N–S trending structures are Orano’s, CNUC’s and Global Atomic’s deposits

GoviEx’s occurs along the NW trending (N30) structure
Several of the major structures intersect the Agadez Project.

Information analysed from Paladin’s exploration program will be used to inform ENRG’s future work targeting Jurassic and Carboniferous stratigraphy.

Stratigraphic column over the Kopore Metals Exploration licences area and stratigraphic location of the main deposits.

Idealized geological SW-NE section across Takardeit deposit area.

Ghanzi West Copper Project

Kalahari, Copper Belt, Botsawana

Underexplored world-class copper province in the Kalahari Copper Belt

The Ghanzi West Project is located along strike of Sandfire’s copper-silver Motheo Mine (under construction) and high-grade A4 deposit.
Comprises 6 prospecting licences over a land area of 2,619km².
Three key targets have been identified at Ghanzi West being:

Korong–large Domal target (~1,091km²)
Kara–along regional structure from T3 deposit (~840km²)
Tau–4km from Sandfire T₇ prospect.

Safe, politically stable and mining-friendly jurisdiction.
Botswana ranked 1^st in Africa and 11^th of 77 countries globally in overall mining investment attractiveness.

3 Fraser Institute Annual Survey of Mining Companies 2020

Airborne Electromagnetic & Gravity Survey to Commence at Ghanzi West Project

Airborne electromagnetic and gravity survey planned across the Company’s Kara Dome assets, located in the Kalahari Copper Belt, Botswana.
Kara Dome is considered prospective for copper-silver mineralisation in folded transitional sediments, similar to those at Sandfire (Motheo and A4) and Khoemacau (Zone 5, Banana Zone) projects.
The program is focused on identifying fold related anticline hinge zones and structurally controlled trap sites associated with domal structures, similar to those discovered along strike by Sandfire Resources (Motheo and A4 copper-silver projects).
The program is expected to commence in early August, with results in Q4 CY2022.