Future Metals NL

Regulatory Filings • Oct 21, 2015

National Storage Mechanism | Additional information

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RED EMPEROR RESOURCES NL - Quarterly Reports for the Period End 30 September 2015

PR Newswire

London, October 21

21 October 2015

Red Emperor Resources NL

Quarterly Reports for the Period Ending 30 September 2015

The Board of Red Emperor Resources NL (“Red Emperor” or the “Company”) is pleased to provide the following commentary for the period ending 30 September 2015.

Philippines (SC55)

Red Emperor announced in August 2015 that the Hawkeye-1 exploration well was drilled to the planned total depth of 2,920m with the top reservoir intersected at 2,710m.  The well proved the existence of hydrocarbons in SC55, however the hydrocarbon size discovered was at the low end of expectations and not likely to be economic to develop. Hawkeye-1 was plugged and abandoned with results from the well to be analysed with respect to other prospects, including Cinco, in the license that potentially share the same charge source.

The drilling program was executed smoothly, ahead of schedule and significantly under budget with Red Emperor having paid its 15 per cent. equity proportion of a $25m USD total well cost. The Company still expects a further refund from the Operator once all costs are completed and finalised, which is anticipated to be before the end of the year. In the meantime, both the evaluation of the Hawkeye results as well as discussions with the Philippine Department of Energy around the next exploration phase for Block SC55 continues.

Georgia

The PSA across Block VIa remains in good standing and the subject of sale negotiations with at least one interested party. Due diligence and negotiations are ongoing, with Red Emperor being advised by the operator, Strait Oil & Gas, of the desire to complete a transaction before the end of the year. The Company will advise the market of any material developments as they occur.

For further information please visit http://www.redemperorresources.com/ or contact:

Red Emperor

Greg Bandy +61 8 9225 2826

Grant Thornton UK LLP

Philip Secrett/Jen Clarke/Jamie Barklem +44 20 7383 5100

Brandon Hill Capital Limited

Jonathan Evans +44 20 3463 5010