EMERALD RESOURCES NL — Capital/Financing Update 2020

Mar 12, 2020

ASX Announcement & Media Release

13 March 2020

Fast Facts

ASX Code: EMR Shares on issue: 3,807 million Market Cap: ~$145 million Cash: A$10.7 million (31 December 2019) Listed Investments: $0.05 million (31 December 2019)

Board & Management

Simon Lee AO, Non-Executive Chairman Morgan Hart, Managing Director Mick Evans, Executive Director Ross Stanley, Non- Executive Director Ross Williams, Non-Executive Director Mark Clements, Company Secretary Brett Dunnachie, Chief Financial Officer

Company Highlights

• First mover in an emerging gold province in Cambodia;

• Mineral Investment Agreement and Industrial Mining Licence granted over the Okvau Gold Project (100% owned) allowing for the development of the Okvau Deposit;

• Okvau Deposit: 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 in a single open pit with waste:ore ratio of 5.8:1;

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Section 708A Notice

Emerald Resources NL (ASX: EMR) (“Emerald”) refers to the issue of 5,812,500 fully paid ordinary shares (Shares) following the exercise of 5,812,500 unlisted $0.0323 options, expiring 30 September 2020 as announced 12 March 2020.

As required under section 708A(5)(e) of the Corporations Act 2001 (Cth) (“Corporations Act”) Emerald gives notice that;

• (a) Emerald issued the Shares without disclosure under Part 6D.2 of the Corporations Act.

• (b) This notice is being given under paragraph 5(e) of section 708A of the Corporations Act.

• (c) As at the date of this notice, Emerald has complied with the provisions of the Chapter 2M of the Corporations Act (as they apply to Emerald), and section 674 of the Corporations Act.

• (d) As at the date of this notice, there is no excluded information with respect to Emerald for the purposes of sections 708A(7) and (8) of the Corporations Act.

This ASX release was authorised on behalf of the Emerald Board by: Morgan Hart Managing Director.

For further information please contact Emerald Resources NL

Morgan Hart Managing Director

• LOM average annual production of 106,000ozs pa;

• AISC US$754/oz over LOM;

• Using US$1.450/oz Au gold price:

• NPV(5%) US$337M pre-tax and US$238M post-tax;

• IRR 69% pa pre-tax and 57% posttax;

• Payback ~1.4 years pre-tax and 1.7 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 6243 0032 W: www.emeraldresources.com.au