Encounter regains 100% of Yeneena Copper - Paterson Province

• 100% ownership of Yeneena reverts to Encounter following IGO's withdrawal
• Encounter to assess technical datasets to refine and prioritise next exploration phase
• Focus on potential depth extensions to high-grade BM1 copper oxide zone and drill testing the BM5 copper leakage anomaly

Encounter Resources (ASX: ENR) has advised that IGO Limited (ASX:IGO) has withdrawn from the Yeneena Farm-in joint venture agreement and returned 100% ownership of the project to Encounter. Over the six-year farm-in, IGO invested ~$15M in exploration, including diamond and aircore drilling, and regional-scale geological, geochemical, and geophysical surveys. Encounter will now assess this extensive dataset to prioritise the next exploration phase, focusing on potential depth extensions to the high-grade BM1 copper oxide discovery and drill testing the large copper leakage anomaly identified at BM5. BM1 has returned multiple high-grade copper oxide intersections, including 20m @ 2.0% Cu from 22m, 10m @ 6.8% Cu from 32m, and 18m @ 3.2% Cu from 32m. At BM5, aircore drilling has identified a large-scale copper-silver-palladium anomaly, with results such as 15m @ 0.17% Cu and 21.8g/t Ag from 69m. Encounter believes this anomalism is indicative of primary copper mineralisation at depth, associated with the keel of an interpreted syncline, similar to the nearby Nifty copper deposit. The company will now design a follow-up drill program to test this target.

Encounter will assess the substantial data generated under the farm-in agreement to prioritise the next phase of copper exploration at Yeneena, focusing on testing for depth extensions to the high-grade BM1 copper oxide zone and follow-up drilling to test the source of the large-scale copper-silver-palladium anomalism identified at BM5.