Enterprise Metals Limited (ASX: ENT) ('Enterprise' or 'the Company') wishes to advise that the Share Purchase Plan, which raised $521,000 successfully closed on 23 November 2022.

The SPP allowed eligible shareholders to subscribe for new ENT shares at an issue price of $0.01 per share, with a free attaching option for every two shares. In addition, the Board has exercised its discretion to increase the SPP to accommodate demand from all shareholders. Shareholders subscribed for a total of 52.1 million New shares and 26.05 million attaching unlisted options. The attaching options will be exercisable at $0.015 each on or before 30 November 2024.

The quotation of New Shares and issue of Options is scheduled for 30 November 2022. Enterprise Chairman Allan Trench said - 'We appreciate the support of shareholders in the raising. Funds will support exploration for lithium and gold at the Bullfinch North Project in the Southern Cross Greenstone Belt, at Mandilla south of Kambalda, and for base metals exploration in Western Australia'.

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

Contact:

Dr Allan Trench

Chairman

Tel: 08 6381 0392

Email: admin@enterprisemetals.com.au

WEB: www.enterprisemetals.com.au

(C) 2022 Electronic News Publishing, source ENP Newswire