EMERALD RESOURCES NL — Capital/Financing Update 2017

Oct 31, 2017

ASX Announcement & Media Release

1 November 2017

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Fast Facts

ASX Code: EMR Shares on issue: 2,108 million Market Cap: ~$95 million Cash: A$6.6 million (30 September 2017)

Board & Management

Simon Lee AO, Non-Exec Chairman Morgan Hart, Managing Director Justin Tremain, Executive Director Ross Stanley, Non-Exec Director Ross Williams, Non-Exec Director Mick Evans, Chief Operating Officer Mark Clements, Co. Secretary

Option Expiry

Emerald Resources NL (‘Emerald’) wishes to advise that 15,190,000 unlisted $0.0645 options expiring 15 October 2017, expired without exercise.

For further information please contact Emerald Resources NL Morgan Hart Managing Director

Emerald Resources NL Justin Tremain Executive Director

Company Highlights

• First mover in an emerging gold province in Cambodia

• Okvau Deposit (100% owned): Indicated and Inferred Mineral Resource Estimate of 1.14Moz at

  • 2.0g/t Au (refer Appendix One)

• DFS completed and demonstrates high grade, low cost, compelling development economics:

  • Ore Reserve of 14.3Mt & 2.0g/t Au for 0.9Mozs (refer Appendix One) in a single open pit with waste:ore ratio of 5.8:1

  • LOM average annual production of 106,000ozs pa

  • AISC US$731/oz over LOM

  • Using US$1.250/oz Au gold price:

    • NPV(5%) US$223M pre-tax and US$160M post-tax

    • IRR 48% pa pre-tax and 40% post-tax

    • Payback ~2.2 years pre-tax and 2.5 years post-tax

• Highly credentialed gold project development team

• Significant resource growth potential

Registered Office

1110 Hay Street West Perth WA 6005

T: +61 8 9286 6300 F: +61 8 9286 6333 W: www.emeraldresources.com.au

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