Encounter Resources : Investor Update

ASX : ENR

New Gold Discoveries in a Prolific District

November 2017 Investor Update

This presentation has been prepared by Encounter Resources Limited ("Encounter"). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Encounter has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Encounter.

Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to Encounter. In particular, they speak only as of the date of this document, they assume the success of Encounter's strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document ("Recipients") are cautioned to not place undue reliance on such forward-looking statements.

Encounter makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued.

To the extent permitted by law, Encounter and its officers, employees, related bodies corporate and agents ("Agents") disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Encounter and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

Certain exploration drilling results for BM1, BM2 and BM7 are first disclosed under JORC code 2004. It has not been updated since to comply with the JORC code 2012 on the basis that the information has not materially changed.

The information in this report that relates to Exploration Results is based on information compiled by Mr. Peter Bewick who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Bewick is a full time employee of Encounter Resources Ltd and has sufficient experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 Edition of the 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Bewick consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

The Company confirms that it is not aware of any new information or data that materially affects the information in the relevant ASX releases and the form and context of the announcement has not materially changed.

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Making New Gold Discoveries near the 30 million Oz Telfer Deposit, Advancing Tier 1 Project Pipeline in WA

Capital structure
ASX ticker	ENR
Share price (15/11/2017)	A$0.09
Shares on issue	192M
Options and performance rights	13.2M
Market capitalisation (15/11/2017)	A$17M
Cash (30 Sept 2017)	A$2.0M
Listed investments (15/11/2017)	A$1.1 M

Location map

Creating Value Through Discovery

• Active explorer in one of world's most prospective mineral basins
• Targeting shallow gold opportunities with scale potential
• Large prospective landholding over 70km of strike providing leverage in a proven copper-cobalt district
• Project generation alliance with Australia's largest gold mining company, Newcrest Mining Limited (ASX:NCM)
• Backed by leading global resources funds

Major Shareholders

Resource Capital Funds, Acorn, Thorney, Eye Management 20% Directors and Management 19%

Antofagasta 5%

Board and key management

Paul Chapman Non-Executive Chairman

Will Robinson Managing Director

Peter Bewick Exploration Director

Jon Hronsky Non-Executive Director

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Telfer Region Gold

New discoveries in the shadow of the

Telfer headframe

Project Generation Alliance with Newcrest

Targeting leverage to Tier 1 deposits

Yeneena - Copper-Cobalt

Large landholdings in a prospective structural setting

>East Thomson's Dome/Telfer West

>Shallow gold opportunities with scale potential in a prolific gold district

>Significant and valuable established infrastructure allows efficient exploration and commercialisation options for discoveries of various scale

>Limited historical drilling and modern exploration techniques present an significant opportunity

>New high grade gold reefs discovered near 30 million oz giant

>Project generation alliance with Australia's

largest gold mining company

>Newcrest funding Encounter to generate new 'camp scale' exploration opportunities in northern WA

>Effective leverage for shareholders through

the project value cycle

>Targeting work is underway and initial projects have begun assessment by Newcrest to enter 50:50 joint venture phase

>Yeneena Copper-Cobalt project, 14km long copper Nifty style mineral system at BM1- BM7

>Numerous high grade copper-cobalt shoots defined at BM7 which remain open

>Lookout Rocks - Zambian copper-belt analogous with untested Cu-Co gossan

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