Enterprise Metals Limited (ASX: ENT) wishes to advise of a pro-rata Non-Renounceable Entitlements Issue to existing shareholders to raise approximately $1,002,785.

The funds will be used for the advancement of Enterprise Metals gold, base metals and lithium exploration projects in Western Australia.

Eligible Shareholders will be able to subscribe for one (1) New Share for every eight (8) Shares they currently hold and for every three (3) New Shares subscribed for, they will receive a free Option with an exercise price of $0.025 and a 2 year expiry date.

Rights Issue entitlements are allocated on a pro-rata basis, however those shareholders wishing to apply for an over-allocation of shares are eligible to do so. Acceptance of applications for over-subscriptions will be at the discretion of the board. New Shares issued under the Entitlements Issue will rank equally with existing shares and the Company will apply for the quotation of the New Shares.

This announcement has been authorised by the Board of Enterprise Metals Limited.

Contact:

Dr Allan Trench

Tel: +61 8 6381 0392

Email: admin@enterprisemetals.com.au

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