Corporate Presentation Hong Kong 25 March 2014
Disclaimer This document has been prepared by Enterprise Uranium Ltd ( ENU or the Company ) to provide an update on the Company s uranium projects to investors and potential new shareholders. This presentation should be read in conjunction with other public announcements and reports (including financial reports and disclosure documents) released by Enterprise Uranium Ltd. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any commitments, representations or warranties by ENU and associated entities or its directors, agents and employees. Except as required by law, and only to the extent so required, directors, agents and employees of Enterprise Uranium shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way out of, or in connection with, the information contained in the document. This document includes certain statements, opinions, projections, forecasts and other material, which reflect various assumptions. The assumptions may or may not prove to be correct. Recipients of the document must make their own independent investigations, consideration and evaluation of the opportunity to invest in the Company. By accepting this document the recipient agrees that if it proceeds further with its investigations, consideration or evaluation of the opportunity to invest in the Company it shall make and rely solely upon its own investigations and inquiries and will not in any way rely upon the document.
Corporate Strategy to create shareholder value via discovery or acquisition & development of Tier 1 uranium deposits... Through: Effective use of pre-competitive Government supplied data to rank opportunities (radiometrics, aeromagnetics, mapping). Early identification of emerging uranium Provinces. Gaining first mover advantage by acquiring the most prospective land. Discovering & developing large, high grade, low cost Tier 1 uranium deposits. Working constructively with stakeholders & using world s best practice.
Investment Opportunity First-Class Assets Five 100% owned uranium exploration projects with Tier 1 potential, located in Western Australia. Low-sovereign risk jurisdiction with uranium mines in development. First-Class Team Experienced management and skilled technical team, identifying projects with potential and testing them to maximise value. First-Class Opportunity Strong support from China. Anticipated strong uranium market with supply gap emerging.
Capital Structure & Management Capital Structure: Ordinary Shares: 76.3M Options: 12.8M (25 cents / expiry 31 March 2014) Market Capitalisation: $3.8M Cash at Bank: $1.9M (@ 31 Dec 2013) Management: Ms Anna Mao Dermot Ryan Dr Zhen Huang Michael Atkins Non Exec Chairperson Executive Director-Acting CEO Non Exec Director Non Exec Director ASX: ENU An experienced Board & senior management team with extensive operating and exploration experience
Major Shareholders SinoTech (Hong Kong) Corporation Ltd 18.9% Enterprise Metals Ltd 17.7% UEQ Investments Pty Ltd 10.5% Crownluxe Investments Pty Ltd 9.8% Run Dexin International (RDI) Resources 3.3% Dermot Ryan 3.2% Top 20 shareholders hold 76.2% of Company
Preferred Target Style SAND HOSTED URANIUM DEPOSITS 18% of world uranium resources 7% of Australia uranium resources, a lot more to be found Occur as extensive sheet-like bodies or within palaeo-channels Grades ranging from 0.05% (500ppm) to 0.40% (4,000ppm) U 3 O 8 Mineralisation fine-grained, reduced uranium species (readily soluble) Amenable to Insitu Recovery (ISR) Low capital and operating cost and environmentally acceptable
ENU Projects & Investments INVESTMENTS Energia Minerals: ENU 14.1% Nyang Carley Bore deposit PROJECTS Byro: Peranbye: Ponton: Harris Lake: Yalgoo: 1,694 km² 1,490 km² 1,015 km² 76 km² 130 km² Total ~4,500 km² Prospective for calcrete and palaeochannel hosted uranium deposits
Carnarvon Basin Model Conceptual Long Section of Manyingee Deposit
Carnarvon Basin Companies Radiometric RGB Image
Carnarvon Basin Potential Emerging ISR Uranium Province Manyingee Well [Paladin] 23.4 Mlbs Bennet Well [Cauldron] 15.7 Mlbs Carley Bore [Energia] 16.7 Mlbs Numerous other occurrences 60Mlbs and increasing
Investment in Energia Minerals Rationale Carley Bore (Nyang) Project located in highly prospective Carnarvon Basin. Uranium & vanadium sources in Proterozoic. Palaeo-channels & permeable strata. Redox (reduced) boundaries for deposition. Favourable host rocks: porous sandstones at regional redox interfaces. ENU holds 32.8m EMX shares, 14.1% of EMX
Investment in Energia Minerals Inferred Resource at Carley Bore: 23Mt @ 330ppm U3O8 for 16Mlbs of U3O8 Exploration target of 15-25Mlbs @ 300-500ppm U3O8 Positive initial Scoping Study completed Outstanding potential to further increase the resource inventory with only 6% of prospective strike length effectively drilled Thick (4.5m average) mineralised zones at shallow depth (50-60m) Gas pipeline passes through property
Carley Bore Resource Table 1: Carley Bore Deposit, Nyang Uranium Project, Western Australia Inferred Mineral Resource 25 th February 2013 OK Estimate - Reported at Various Lower Cut-Offs Using a Density of 1.73t/m 3 (Preferred Cut-off 150ppm U 3 O 8 ) Block Size of 50mX by 50mY by 5mZ Lower Cut Off U 3 O 8 (ppm ) Tonnage (Mt) Grade U 3 O 8 (ppm) Contained Metal t U 3 O 8 Contained Metal Mlb U 3 O 8 100 24 320 7,700 17.0 150 23 330 7,600 16.7 200 19 360 6,900 15.3 250 15 400 5900 13.0 300 11 440 4,800 10.6 Note: ENU holds 14.1% interest in Energia Minerals (EMX)
Lake Harris & Ponton Projects Location 150-200km east of Kalgoorlie Rationale Uraniun sources same as Mulga Rocks and Double 8 Projects cover salt lakes & underlying palaeo-valleys Unexplored opportunity Airborne Mag/Rad flown by WA Government Enterprise AEM survey in 2012 defined palaeo-channel targets Drilling planned for 2014
Lake Harris Project 200km east of Kalgoorlie Enterprise high resolution airborne mag/rad survey in 2011 Enterprise Airborne EM (AEM) survey in 2012, defined palaeochannels and bedrock conductors Project prospective for Uranium & Ni/Cu sulphides Classic Minerals nearby discovery Drilling planned for Q2, 2014
Lake Harris Uranium Uranium Source Radioactive Archaean granites Transport Major river system with huge catchment Economic Model Uranium deposition in Sand/Sandstone Known Uranium Province Mulga Rocks Deposits Double 8 Deposits Tenement 76 km 2 of tenements Plan of topography and AEM Channel 15
Lake Harris AEM Conductivity Depth Images
Lake Harris Nickel/Copper Plan of topography & AEM basement conductors VD1 Magnetic Image
Lake Harris Ni/Cu CDI s AEM H1 AEM H2
Ponton Project Uranium Source Radioactive Archaean granites Transport Major river system with huge catchment Economic Models Uranium deposition in Sand/Sandstone Known Uranium Province Mulga Rocks Deposits 62 Mlbs Double 8 Deposits 17 Mlbs Large Land Holding > 80 km length of prospective drainage 1,015 km 2 of tenements AEM Channel 15 over topography
Ponton AEM & CDI s Target AEM Channel 15 over topography Conductivity Depth Image cross section
Byro Project 250km NE of Geraldton 600km north of Perth Covers the Murchison River valley and underlying palaeo-valley. Unexplored Airborne Magnetics / Radiometrics flown by WA Government in 2008. Enterprise high resolution airborne mag/rad survey in 2011. Enterprise Airborne EM (AEM) survey in 2012. Palaeo-channel targets defined by AEM. Drilling planned to test targets
Byro Project Uranium Source Radioactive granites in catchment Transport Major dry river bed with large catchment Economic Models Uranium deposited in sands Uranium deposited in calcrete Large Land Holding > 170 km length of anomalous surficial uranium 1,694 km 2 of tenements High Clip Uranium(Red) over Topography and AEM Channel 15
Byro Project Inland Delta Google Earth Late Time Channel AEM over DTM Inland Delta Byro uranium project
Byro Project AEM Conductivity Depth Image Inland Delta Red Conductive Blue - Resistive
Byro Project Parts of Byro are within 70km radius of planned Murchison Square Kilometre Array (SKA) Radio transmission management plan ( RQMP ) approved, includes drilling. POW approved RMP approved Heritage clearance underway EIS Grant of $74,900
Peranbye Project 300km north of Perth Covers the Moore River valley and underlying palaeo-valley Unexplored Airborne Mag/Rad flown by WA Government in 2012 Enterprise AEM survey in 2012 defined palaeo-channel targets Drilling planned for late 2014
Peranbye Project Uranium Source Radioactive Archaean granites Transport Major river system with large catchment Economic Models Uranium in Sand/Sandstone & Calcrete Highly Prospective Surficial grab samples up to 846 ppm uranium Large Land Holding 1,490 km 2 of tenements High Clip Uranium (red) over Topography
Peranbye Project Plan of high clip uranium (red) over topography Conductivity Depth Image cross section
Peranbye Project Plan of uranium (red) over topography Conductivity Depth Image cross section Hot Chocolate Prospect Plan of eu ₃ O ₈ values on satellite image Conductivity depth image cross section
Yalgoo Project New uranium province found by Enterprise 400km north of Perth Area: 130km² Covers the Salt River valley and underlying palaeo-valley Unexplored until recently Enterprise high resolution airborne mag/rad survey in 2010.
Yalgoo Project Uranium Source Radioactive Archaean granites Transport Major drainage system with large catchment area Economic Models Uranium deposits in Sand/Sandstone Uranium deposits in Calcrete Large Land Holding > 25 km length of prospective drainage
Muggaburna Deposit Drilling results encouraging with grades >400ppm eu ₃ O ₈ Many surface samples with >200ppm eu ₃ O ₈ Radiometric Image with drill hole locations Plan of Muggaburna Uranium Deposit
Summary Enterprise is using extensive, free, Western Australian government provided pre-competitive data to identify new exploration projects and opportunities. High grade mineralisation at or near surface over deep palaeo-channels. Improved Airborne EM technology being used to map palaeo-channels along ancient river valleys. Low-sovereign risk jurisdiction with advanced uranium mine developments. Experienced management and skilled technical team.
Important Information Disclaimer This document has been prepared by Enterprise Uranium Ltd ( Enterprise or the Company ) to provide an update on the Company s Projects to investors and potential new shareholders. This presentation should be read in conjunction with other public announcements and reports (including financial reports and disclosure documents) released by Enterprise. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any commitments, representations or warranties by Enterprise and associated entities or its directors, agents and employees. Except as required by law, and only to the extent so required, directors, agents and employees of Enterprise shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way out of, or in connection with, the information contained in the document. This document includes certain statements, opinions, projections, forecasts and other material, which reflect various assumptions. The assumptions may or may not prove to be correct. Recipients of the document must make their own independent investigations, consideration and evaluation of the opportunity to invest in the Company. By accepting this document the recipient agrees that if it proceeds further with its investigations, consideration or evaluation of the opportunity to invest in the Company it shall make and rely solely upon its own investigations and inquiries and will not in any way rely upon the document. Competent Persons Statement The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dermot Ryan, a Fellow of the Australasian Institute of Mining & Metallurgy. Dermot Ryan is an employee of consulting company Xserv Pty Ltd and Director of the Company. Dermot Ryan has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dermot Ryan consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.