EMERALD RESOURCES NL — Capital/Financing Update 2023

Nov 23, 2023

ASX Announcement & Media Release

24 November 2023

Fast Facts

ASX Code: EMR Shares on issue: 622,776,071 Market Cap: ~A$1.53 billion Cash: A$87.6m (US$56.6m) (30 Sep 2023) Bullion: A$21.4m (US$13.8m) (30 Sep 2023)

Board & Management

Jay Hughes, Non-Executive Chairman Morgan Hart, Managing Director Mick Evans, Executive Director Simon Lee AO, Non-Executive Director Ross Stanley, Non-Executive Director Billie Slott, Non-Executive Director Michael Bowen, Non-Executive Director Mark Clements, Non-Executive Director & Company Secretary Bernie Cleary, Operations Manager Shannon Campbell, Chief Financial Officer

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Option Exercise

Emerald Resources NL (ASX: EMR) (“Emerald”) advises that it has issued 250,000 fully paid ordinary shares to an employee upon exercise of 250,000 unlisted $0.53 options expiring 19 May 2025, issued 26 May 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 and 674A 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.

Company Highlights

Team

• Highly credentialed gold project operational and in-house development team;

• A proven history of building projects on time and on budget.

Gold Production

• Okvau Gold Mine commissioned on time on budget in 2021;

• Forecast +100,000oz gold production for 2024 at AISC US$780-US$850/oz;

Growth

• Significant exploration and resource growth potential in Cambodia: o Okvau Gold Mine reserve expansion; o Memot Project maiden resource expected 2023

An Appendix 2A reflecting the revised capital structure following the issue of the above securities has been released with this announcement.

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

• 1,639km[2] of prospective tenure

• Significant exploration and resource growth potential in Australia (Bullseye Mining Limited (~76.5%):

• North Laverton Gold Project located on the underexplored Dingo Range greenstone belt

• Resource and reserve expected early 2024

• 1,200km[2] of prospective tenure

ESG

• 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 laws by engaging and collaborating with all stakeholders.

• Commitment to carbon neutral operations in Cambodia

Registered Office

1110 Hay Street West Perth WA 6005

T: +61 8 9286 6300 F: +61 8 6243 0032

W: www.emeraldresources.com.au