Quarterly Activities/Appendix 5B Cash Flow Report

• Commenced 5,000m drilling campaign at Coda North
• Received exceptional high-grade rare earth assays at Pocos
• Completed hyperspectral analysis of Lithium Valley tenements

During Q2 2024, Enova Mining made significant advancements in its Brazilian operations. The company commenced a 5,000m drilling campaign at its Coda North tenement, which includes 1,200m of diamond drilling. Enova's new Brazilian exploration team managed all aspects of the campaign, from planning to on-site execution. In parallel, the company completed the Phase 1 exploration program at its Pocos project, receiving assays that confirmed exceptional high-grade rare earth element (REE) mineralization, with peak grades of over 0.5% TREO. Enova also completed a hyperspectral imagery study of its Lithium Valley tenements in Minas Gerais, which identified several potential pegmatite targets for follow-up exploration. On the Australian front, Enova continued to advance its Charley Creek project, completing a mineral characterization study and initiating reviews of historical data to optimize future exploration and development plans. The company also raised A$1.5 million to fund these activities and strengthen its overall financial position.

Enova has not provided any high-importance, price-sensitive forward-looking financial metrics in this announcement.

Enova is focused on advancing its key projects in Brazil and Australia. In Brazil, the company will continue the Coda North drilling campaign and evaluate the results from the Pocos and Juquia projects. In Australia, Enova will progress technical studies and exploration planning for the Charley Creek project, including deep drilling and testing of the Cockroach Dam area.