EMERALD RESOURCES NL — Capital/Financing Update 2022

Feb 10, 2022

ASX Announcement & Media Release

11 February 2022

Fast Facts

ASX Code: EMR Shares on issue: 537,761,407 Market Cap: ~A$567 million Cash: A$17.9 million (at 31 Dec 2021) Bullion: A$19.5 million (at 31 Dec 2021)

Board & Management

Simon Lee AO, Non-Executive Chairman Morgan Hart, Managing Director Mick Evans, Executive Director

Ross Stanley, Non-Executive Director Billie Slott, Non-Executive Director Mark Clements, Non-Executive Director and Company Secretary

Bernie Cleary, Operations Manager Brett Dunnachie, Chief Financial Officer

Company Highlights

• First mover in an emerging gold province in Cambodia;

• Okvau Deposit: Indicated and Inferred Mineral Resource Estimate of 1.14Moz at 2.0g/t Au;

• Project built in 2021 on time on budget and now in production;

• Forecast economics demonstrates high grade, low cost, compelling project;

• 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;

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

• AISC US$754/oz over LOM (at a US$1,450 gold price assumption);

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Correction to Appendix 2A

Emerald Resources NL (ASX: EMR) ( Emerald ) refers to its announcement “Application for quotation of securities – EMR ” dated 7 December 2021 ( Prior Announcement ) relating to the application for quotation of securities issued by Emerald as consideration for Bullseye Mining Limited ( Bullseye ) shares acquired from certain Bullseye shareholders as part of Emerald’s pre-bid stake ( Pre-Bid Stake ).

In consideration for the acquisition of its Pre-Bid Stake, Emerald issued a total of 22,067,700 shares ( Pre-Bid Shares ).

The Prior Announcement incorrectly stated that the Pre-Bid Shares were issued under Exception 6 in ASX Listing Rule 7.2 and therefore did not require security holder approval under Listing Rule 7.1.

Pursuant to this announcement, Emerald wishes to confirm that the Pre-Bid Shares were in fact issued without shareholder approval, under Emerald’s existing placement capacity pursuant to ASX Listing Rule 7.1.

The Prior Announcement remains correct in all other respects.

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

• Mineral Investment Agreement governs significant tax and duty concessions for first 5 years and includes offshore arbitration process;

• Highly credentialed gold project operational and development team;

• Significant resource growth potential;

• Focussed on a net positive impact on near-mine environmental and social values by targeting strict compliance with corporate governance, international guidelines (IFC PS’s) and local law by engaging and collaborating with all stakeholders.

Registered Office 1110 Hay Street West Perth WA 6005

T: +61 8 9286 6300 F: +61 8 6243 0032 W: www.emeraldresources.com.au