Enterprise Metals Limited announced that six reverse circulation (RC) holes have been completed at its Mandilla Prospect near Widgiemooltha in Western Australia. Five of these RC holes were drilled to follow up anomalous lithium results in 4 slimline RC holes reported to the ASX on 26 October 2022, with one additional RC hole (156m) drilled to follow up a previous gold intersection north of the Mandilla homestead. 2023 Mandilla RC Lithium Results: In March 2023 Enterprise undertook a limited Stage 2 (infill) RC drilling program to define the geometry, nature and the potential grade of the lithium mineralisation intersected on Section 6527,500N in the 2021 Mandilla slimline RC drill program.

2022 Lithium Assay Results Enterprise previously reported that four slimline RC holes (av. 80m depth) drilled to test an Induced Polarisation (IP) anomaly on the south-eastern margin of the Mandilla Syenite recorded several pegmatite intersections. Slimline RC sample pulps from holes MERC010, 011, 012 and 013 were analysed for Lithium and associated elements and holes MERC010 and MERC011 returned shallow intervals with significant Lithium oxide values: MERC010: 12m @ 4,493 ppm (Eq.

0.45%) Li2O from 52m to 64m. MERC011: 7m @ 3,733 ppm (Eq. 0.37%) Li2O from 48m to 55m.

Pegmatite samples from MERC010, 011 and 013 were sent to Labwest Minerals Analysis for 50 element analysis by ICP-MS/ICPOES. Pegmatite samples from MERC012 were sent to MinAnalytical Services Pty Ltd. for 4 acid digest and Mass Spectroscopy (MA40MS) and Optical Emission Spectroscopy (MA40OES). 2023 Gold and Base Metal Assay Results: Also in March 2023 Enterprise drilled one angled RC hole 23MERC023 from north to south, to test for gold mineralisation below previous shallow RC holes 21MERC018 and 21MERC019, located north of the Mandilla homestead at the "Star" Prospect.

Hole 23MERC023 intersected a 72m zone of weakly pyritic intermediate volcanics from 44m to 116m. This discrete zone displayed elevated gold mineralisation (8m @ 33ppb Au, with max. 4m @ 50ppb Au) and elevated silver, arsenic and other base metals (72m @ 1.7ppm Ag, 99ppm As, 0.6ppm Cd, 90ppm Cu, 13ppm Pb, 1% sulphur, 11ppm Sb, 9ppm W and 314ppm Zn).

A 20m zone of 0.24ppm Te was also evident between 72m and 92m.