Enterprise Metals Ltd ('Enterprise' or 'ENT') is pleased to advise that geophysical contractor New Resolution Geophysics(NRG) has completed a helicopter borne Time Domain Electromagnetic (TEM) survey north of Cue. The survey is an important step in exploration over interpreted VMS horizons considered highly prospective for zinc and copper mineralisation.

Although the locations of the zinc and copper rich VMS (volcanogenic massive sulphide) horizons are broadly known from historical shallow drilling and mapping programs, this new survey commissioned by ENT was designed to refine targeting and highlight new areas for investigation. The preliminary TEM image in Figure 1 below highlights several late time conductors occurring along the Wattagee and Emily Well VMS horizons.

Enterprise has digitized and re-processed electrical geophysics completed by Esso over the AM 14 area, with a view to re-evaluating selected targetsfor further drill testing, generating new targets and identifying areas requiring follow-up geochemical programs and drilling. The IP surveys conducted by Esso over the AM14 prospect were modelled with 2D inversion software. The inversion models were run with a vertical bias to match the steeply dipping geology. An IP line over the massive sulphide lenses intersected by Esso's drill holes WP135 and WP138 were reprocessed, and IP and resistivity models produced. The massive sulphide lenses were characterised by high IP and low resistivity (conductive) responses. The resistivity model identified three additional conductive zones (A, B & C) which have associated high IP responses. These additional conductive zones (inc. Target A) did not appear to have been drill tested and are considered by Enterprise to be priority targets..

Contact:

Dermot Ryan

Director

P: +61 8 6381 0392

E: admin@enterprisemetals.com.au

Competent Person Statement

The information in this report that relates to Exploration Activities and Results is based on information compiled by Mr Dermot Ryan, who is an employee of Montana Exploration Services Pty Ltd and a Director and security holder of the Company. Mr Ryan is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Ryan consentsto the inclusion in thisreport ofthe matters based on information in the form and context in which it appears. Historic exploration results referred to in this Report were previously reported to the WA Department of Mines and Petroleum in the 1970's by professional geologists working for reputable mining and exploration companies prior to the imposition of the JORC code. Enterprise Metals Limited understands that this information has not been updated since to comply with the JORC Code 2012, but believes the information has not materially changed since it was last reported.

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