EnterpriseMetals Limited (ASX:ENT)('Enterprise' orthe'Company') has identified pegmatites with significant lithium mineralisation at drill sites within the Mandilla project, near Widgiemooltha, Western Australia. The reverse circulation (RC) drilling program was undertaken in late 2021 to test for potential gold mineralisation below a soil covered felsic volcanic unit on the eastern margin of the intrusive Mandilla Syenite. Enterprise announced on 27 April 2022 that lithium values of +1,000ppm were reported by MinAnalytical Laboratory Services using mass spectrometry that exceeded an upper detection limit of 1,000ppm. Subsequently Enterprise submitted a limited number of Mandilla sample pulps from three RC holes to Labwest Minerals Analysis Pty Ltd for ICPMS analysis, with enhanced sensitivity in detecting and analysing lithium. LabWest has now reported lithium results for the three Mandilla -600 angled RC holes that were sampled for lithium

ABOUT THE MANDILLA PROSPECT

The Mandilla Prospect is located in the Widgiemooltha greenstone belt in the western part of the Kalgoorlie geological domain, some 100 kilometres south of Kalgoorlie by road and 20 kilometres south west of Kambalda. Significant nickel and gold deposits are present in the belt, with the nearest mined gold deposit being the highgrade Wattle Dam Mine located approximately 3 km to the west of Mandilla. The Mandilla Prospect lies on the eastern margins of the Mandilla Syenite. The syenite intrudes volcanoclastic sedimentary rocks in the area which form part of the Spargoville Group. Significant NW to WNW and NE trending structures along the western flank of the tenements are interpreted from regional aeromagnetic data to cut through the Mandilla Syenite and may be important in localising gold mineralisation within the Mandilla Syenite. Enterprise's target at Mandilla is primary gold mineralisation, similar to that discovered on the western margin of the Mandilla Syenite by Astral Resources NL (AAR: ASX: ). AAR's drilling has demonstrated that shallow low grade gold intersections in saprolite and saprock may overlie primary gold mineralisation. Refer Figure 2 for location of Mandilla Project and Figure 3 for surface geology plan.

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Activities and Results is based on information compiled by Mr Dermot Ryan of Montana Exploration Services Pty Ltd, who is a Director and security holder of the Enterprise Metals Limited. 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 consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

Contact:

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