EMERALD RESOURCES NL — Capital/Financing Update 2018

Jul 3, 2018

ASX Announcement & Media Release

4 July 2018

Fast Facts

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Cancellation of Options

ASX Code: EMR

Shares on issue: 2,111 million Market Cap: ~A$70 million Cash: A$2.8 million (31 Mar 2018)

Emerald Resources NL (ASX:EMR) (‘Emerald’; ‘the Company’) advises the cancellation of 1,337,500 unvested and unlisted $0.051 options expiring 21 January 2021 previously issued in accordance with the Company’s Employee Share Option Plan.

For and on behalf of the Board.

Board & Management

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

Emerald Resources NL Mark Clements Company Secretary

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

• 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