EMERALD RESOURCES NL - Capital/Financing Update 2024

ASX Announcement & Media Release

13 December 2024

Fast Facts

Shares on issue: 657,045,406 Market Cap: ~A$2.5 billion Cash: A$157.4m (US$109.1m) (30 Sep 2024) Bullion: A$23.4m (US$16.2m) (30 Sep 2024)

Board & Management

Jay Hughes, Non-Executive Chairman Morgan Hart, Managing Director Mick Evans, Executive Director Ross Stanley, Non-Executive Director Billie Slott, Non-Executive Director Michael Bowen, Non-Executive Director Mark Clements, Company Secretary Bernie Cleary, Operations Manager Okvau Josh Redmond, Operations Manager DRGP Brett Dunnachie, Chief Corporate Officer Shannon Campbell, Chief Financial Officer

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;
2024 production guidance achieved of 114koz gold production at AISC US$818/oz;

Growth

Significant exploration and resource growth potential in Cambodia: o Okvau Gold Mine reserve expansion; o Memot Project (100%) open pit inferred resource of 19.5MT @ 1.65g/t Au for 1.03Moz
1,428km[2] of prospective tenure
Significant exploration and resource growth potential in Australia: o Dingo Range Gold Project (100%) located on the underexplored Dingo Range greenstone belt
~950km[2] of prospective tenure
o Resource expected calendar 2024

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

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Memot Gold Project Resource Increases by 120% to 1,030,000ozs

Highlights

Memot Gold Project Indicated and Inferred Mineral Resource Estimate of 19.5Mt @ 1.65g/t Au for 1.03Moz;
This represents an increase of 120% from the previous estimate announced in December 2023;
68% of resource estimate classified as “Indicated”;
Memot Gold Project remains open in all directions and at depth. Four double shifting diamond drill rigs continue targeting extensions of the mineralisation with the aim of a mid-2025 resource update;
The style of mineralisation intersected to date, gives the Company confidence that the Memot Gold Project can lend itself to either selective mining (higher grade) or bulk mining (higher tonnage) options when developed;
+85% metallurgical recoveries anticipated from conventional CIL flow sheet;
Feasibility studies continue in advance of a development decision and anticipated commencement of development in 2025;
Work to date supports Emerald’s view that the Memot Gold Project has the potential to be a second standalone operation for the Company in Cambodia;
Results in the Updated Resource Estimation include:
6m @ 348.76g/t Au from 125m including 1m @ 2,090g/t Au from 130m (DD24MMT243);
9m @ 12.61g/t Au from 193m including 1m @ 64.50g/t Au from 197m (DD24MMT256);
14.8m @ 3.94g/t Au from 288.4m including 0.6m @ 58.10g/t Au from 292.4m (DD24MMT303); and
4m @ 13.49g/t Au from 63m including 2m @ 26.31g/t Au from 63m (RCDD24MMT158).

Emerald’s Managing Director, Morgan Hart, commented:

“Emerald is pleased to announce the updated Gold Resource at our 100% owned Memot Gold Project following the completion of the 50,000m Stage 2 drill program. Results from the recently completed program has seen the resource ounces over double, demonstrating that the deposit remains open in all directions and at depth and confirms our view that the Memot Gold Project will become our second operation in Cambodia.

“In parallel with the Stage 2 drill program, the Company has been progressing with feasibility studies which will continue along with licencing and permitting with the view of commencing development of the Project in 2025.

“The positive results obtained from ongoing metallurgical studies confirm a high gravity component in the orebody that suggests a conventional CIL process flow sheet will be economically optimal. Results to date give Emerald the flexibility to investigate the development of the Project as a standalone conventional CIL circuit that allows a lower cut to be incorporated in the resource model and ultimately a larger resource.

“With significant progress at the Memot Gold Project, alongside the current operations at our 100% owned Okvau Gold Mine in Cambodia and exploration activities at our 100% owned Dingo Range Gold Project in Western Australia, Emerald continues on the pathway of becoming a +300koz per annum multi-mine gold producer with operations across two continents.”

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29 April 2022

Introduction

The 107km[2] Memot Exploration Licence is 100% owned and is located in Cambodia, 95km to the southeast of the 1.3Moz Okvau Gold Mine (current and mined resource) (refer Figure 1).

In January 2021, the Company announced its successful application of a highly prospective gold exploration licence at the Memot Gold Project, which was selected based on the presence of extensive artisanal workings and the prospective location relative to the same Intrusive belts that hosts the Okvau Gold Mine.

By December 2023, the Company had completed 130 collars (19,315 metres) of Resource definition drilling including 9,601 metres of diamond and 9,714 metres of RC drilling and announced a maiden inferred resource of 8Mt @ 1.84g/t Au for 470koz (refer ASX announcement 21 December 2023).

In February 2024, the Company mobilised 5 drill rigs (both diamond and RC) and completed a 182 collar (52,083 metres) infill resource to a nominal drill spacing of 50 x 50m with some closer spaced 25 x 25m grids to increase the confidence in the grade continuity. The program includes 43,391 metres of diamond and 8,692 metres of RC drilling.

Drilling used in the Memot 2024 Resource estimation includes 312 collars (71,399 metres) including 52,993 metres of diamond and 18,406 metres of RC drilling.

Figure 1 | Emerald Resources Cambodian licences with Memot Gold Project highlighted

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Recent Drill Results

Since the previous exploration update (refer ASX announcement 30 October 2024) circa 5,000 assay results were returned before the database was closed in mid-November 2024 for the Memot 2024 Resource estimate. Recent significant intercepts include (refer Figure 2 and Appendix One):

14.8m @ 3.94g/t Au from 288.4m including 0.6m @ 58.10g/t Au from 292.4m (DD24MMT303);
3.2m @ 11.11g/t Au from 120.8m including 0.6m @ 57.60g/t Au from 120.8m (DD24MMT311);
0.8m @ 39.10g/t Au from 15.6m (DD24MMT321);
2.4m @ 11.31g/t Au from 384m including 0.6m @ 42.20g/t Au from 384m (DD24MMT303);
21m @ 1.25g/t Au from 191m (DD24MMT310);
0.8m @ 31.20g/t Au from 325.6m (DD24MMT315);
5.2m @ 4.60g/t Au from 152.6m (RCDD24MMT034);
0.6m @ 38.00g/t Au from 170.2m (DD24MMT309);
9.8m @ 2.24g/t Au from 162.2m (DD24MMT305);
0.6m @ 36.20g/t Au from 207.6m (DD24MMT303); and
3.6m @ 5.61g/t Au from 118.6m (DD24MMT313).

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29 April 2022 Figure 2 | Plan view of the collars and significant intercepts from drilling completed with aerial drone photography

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Significant Intercepts (Previously announced)

Significant intercepts included in drilling completed in the 2024 Memot Resource infill drill program includes:

6m @ 348.76g/t Au from 125m including 1m @ 2,090g/t Au from 130m (DD24MMT243)[2] ;
9m @ 12.61g/t Au from 193m including 1m @ 64.50g/t Au from 197m (DD24MMT256)[3] ;
4m @ 13.49g/t Au from 63m including 2m @ 26.31g/t Au from 63m (RCDD24MMT158)[ 1] ;
2.5m @ 20.67g/t Au from 134.5m (DD24MMT200)[2] ;
31m @ 1.80g/t Au from 239m including 0.7m @ 21.80g/t Au from 257.6m (DD24MMT168)[2] ;
0.8m @ 63.30g/t Au from 99m (DD24MMT298)[ 3] ;
1.1m @ 44.30g/t Au from 214m (DD24MMT219)[ 3] ;
15.2m @ 3.11g/t Au from 246.4m including 1m @ 29.9g/t Au from 252m(DD24MMT292)[ 3] ;
1m @ 46.00g/t Au from 135m (DD24MMT188)[2] ;
7m @ 6.13g/t Au from 277m including 1m @ 40.00g/t Au from 277m (DD24MMT243)[2] ;
3m @ 13.95g/t Au from 72m including 1m @ 36.40g/t Au from 73m (RCDD24MMT159)[1] ;
2m @ 20.63g/t Au from 21m (RC24MMT197)[2] ;
1.5m @ 27.00g/t Au from 206.2m (RCDD24MMT269)[3] ;
8.4m @ 4.74g/t Au from 278.8m including 0.6m @ 28.10g/t Au from 278.8m (DD24MMT299)[ 3] ;
1m @ 38.70g/t Au from 280.8m (DD24MMT290)[ 3] ;
1.1m @ 33.30g/t Au from 288m (RCDD24MMT197)[ 3] ;
1m @ 35.10g/t Au from 131m (DD24MMT279)[ 3] ;
23.8m @ 1.47g/t Au from 197m (DD24MMT287)[ 3] ;
1m @ 33.60g/t Au from 162m (DD24MMT192)[2] ;
2m @ 16.33g/t Au from 355m (RCDD24MMT151)[2] ;
1m @ 32.60g/t Au from 226m (RCDD24MMT172)[ 3] ;
1m @ 28.50g/t Au from 365m (RCDD24MMT197)[ 3] ;
2m @ 14.13g/t Au from 294.6m (DD24MMT287)[ 3] ;
4.6m @ 6.02g/t Au from 187.8m (DD24MMT301)[ 3] ;
1.1m @ 25.00g/t Au from 252m (RCDD24MMT266)[ 3] ;

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2m @ 13.62g/t Au from 54m (RC24MMT251)[2] ;
9m @ 3.02g/t Au from 96m (DD24MMT208)[2] ;
0.6m @ 45.30g/t Au from 234.6m (RCDD24MMT195)[ 3] ;
0.6m @ 44.60g/t Au from 115m (DD24MMT294)[3] ;
2m @ 12.49g/t Au from 146m including 1m @ 23.60g/t Au from 146m (RC24MMT155)[1] ;
6m @ 4.07g/t Au from 1m (RC24MMT198)[2] ;
18m @ 1.39g/t Au from 242m (DD24MMT221)[3] ;
1m @ 23.10g/t Au from 143m (RC24MMT157)[1] ;
7.4m @ 3.11g/t Au from 338m (DD24MMT287)[ 3] ;
2m @ 11.3g/t Au from 152m (RCDD24MMT264)[ 3] ;
0.6 @ 36.80g/t Au from 364m (DD24MMT291)[ 3] ;
1m @ 21.50g/t Au from 45m (DD24MMT168)[2] ;
0.6m @ 35.80g/t Au from 389.60m (RCDD24MMT265)[ 3] ;
7m @ 3.04g/t Au from 138m (RCDD24MMT175)[2] ;
1m @ 19.6g/t Au from 122m (RC24MMT191)[2] ; and
1m @ 13.5g/t Au, 89g/t Ag, 0.74% Pb and 4.33% Zn from 282m (DD24MMT194)[2] .
1 refer ASX announcement 19 April 2024
2 refer ASX announcement 18 July 2024 3 refer ASX announcement 31 October 2024

Previously announced significant intercepts included in the Memot Maiden Resource (21 December 2023) include:

5m @ 15.36g/t Au from 210m including 1m @ 67.4g/t Au from 214m (DD23MMT136)[6] ;
2m @ 23.29g/t Au from 131m (DD23MMT090)[5] ;
1m @ 37.20 g/t Au from 33m (DD21MMT005)[1] ;
4m @ 8.06g/t Au from 151m including 1m @ 19.90g/t Au from 154m and 1m @ 12.30g/t Au from 151m (DD22MMT080W)[4] ;
1m @ 31.70g/t Au from 49m (DD21MMT010)[1] ;
1m @ 31.4g/t Au from 132m, 0.52% Cu and 0.52 % Zn (RC22MMT073)[3] ;
4m @ 7.85g/t Au from 30m including 1m @ 10.25 g/t Au from 30 and 2m @ 9.48g/t Au from 32m (DD22MMT080W)[4] ;
1m @ 27.8g/t Au from 249m (DD23MMT081)[4] ;
5.6m @ 4.85g/t Au and 0.67% Cu from 187m including 0.6m @ 31.60 g/t Au, 6.04% Cu, 0.16% Pb and 0.25% Zn from 192m (DD22MMT080W)[5] ;
1m @ 25.40 g/t Au from 30m (DD21MMT006)[1] ;
4m @ 5.74g/t Au from 131m including 2m @ 9.74g/t Au from 133m and 0.46% Zn (RC22MMT074)[4] ;
1m @ 21.30g/t Au from 69m and 1.06% Cu (RC22MMT039)[3] ;
1m @ 11.10 g/t Au from 28m (DD21MMT002)[1] ;
0.3m @ 29.10g/t Au from 159m (DD22MMT023)[2] ;
0.4m @ 18.55g/t Au from 150.9m (DD22MMT022[2] ;
0.4m @ 17.70 g/t Au, 230 g/t Ag, 2.78% Cu, 0.56% Pb and 1.74% Zn from 190m (DD22MMT013)[2] ;
0.3m @ 23.10g/t Au from 50.15m (DD22MMT019)[2] ;

1 refer ASX announcement 31 January 2022 2 refer ASX announcement 29 April 2022

3 refer ASX announcement 31 January 2023

4 refer ASX announcement 28 April 2023

5 refer ASX announcement 4 July 2023

6 refer ASX announcement 30 October 2023

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Memot 2024 Resource Estimation Summary

The Memot Indicated and Inferred Mineral Resource is 19.5Mt at 1.65 g/t Au with 1,030,000 ounces and is reported at a 0.7g/t Au cut-off grade as summarised in Table 1. The Mineral Resource estimates are reported in accordance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code).

Table 1 | Updated Memot Indicated and Inferred Resource Estimate (December 2024)

	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate
	Measured Resources Indicated Resources Inferred Resources *Total Resources
Au Lower	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained
Cut off	(t)	(g/t Au)	Au (oz)	(t)	(g/t Au)	Au (oz)	(t)	(g/t Au)	Au (oz)	(t)	(g/t Au)	Au (oz)
0.5	-	-	-	15,900,000	1.49	760,000	9,400,000	1.26	380,000	25,300,000	1.41	1,150,000
0.625												1,070,000
	-	-	-	13,700,000	1.64	720,000	7,600,000	1.43	350,000	21,400,000	1.56

0.7	-	-	-	12,600,000	1.72	700,000	6,900,000	1.52	330,000	19,500,000	1.65	1,030,000
0.9	-	-	-	10,000,000	1.97	630,000	4,900,000	1.80	280,000	14,900,000	1.91	920,000
1	-	-	-	9,000,000	2.08	600,000	4,400,000	1.90	270,000	13,400,000	2.02	870,000
1.5	-	-	-	5,500,000	2.62	460,000	2,500,000	2.40	200,000	8,000,000	2.55	660,000
2	-	-	-	3,500,000	3.16	350,000	1,500,000	2.83	140,000	5,000,000	3.06	490,000

*tonnage is rounded to the nearest 100Kt, grade is rounded to the second decimal point and ounces are rounded to the nearest 10,000oz

Resource Parameters

In accordance with ASX Listing Rule 5.8.1, the following summary information is provided for the understanding of the reported estimates of the Resources.

Geology and Geological Interpretation

The Memot Deposit is largely hosted in a Cretaceous diorite intrusion emplaced within an upper Triassic metasedimentary host rock package. Gold mineralisation is contained in a set of parallel, north-east dipping veins. The veins are hosted primarily within the diorite intrusion, however, have been observed to extend beyond the diorite contact into the hornfels metasediments. Gold mineralisation is concentrated along a network of parallel, sub horizontal sulphide-rich veins. The mineralised veins typically comprise 30cm to 3m wide zones of highly sulphidic material. Structural and geological observations were used to determine the overall orientation of the individual lodes.

Figure 3 | North Mineralised veins in Memot Diamond Core. Quartz veining with Pyrite, Arsenopyrite, Pyrrhotite, Chalcopyrite and Sphalerite sulphides. Top: DD21MMT001 - 1m @ 8.91g/t Au, 2.16% Cu from 48m Middle: DD22MMT013 - 0.4m @ 17.70 g/t Au, 230 g/t Ag, 2.78% Cu, 0.56% Pb and 1.74% Zn from 190m Bottom: DD21MMT006 – 1m @ 25.4 g/t Au, 73 g/t Ag, 1.81% Cu, 0.1% Zn

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The mineralisation has been delineated over a strike length of approximately 1,100m, a width of approximately 900m and to a depth of 450m below surface.

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29 April 2022

Drilling Techniques, Sampling and Assaying

Drilling used in the Memot 2024 Resource estimation includes 312 collars (71,399 metres) including 52,992 metres of diamond and 18,406 metres of RC drilling.

The Memot 2024 Resource Estimate is based on a database of 312 drill holes, for a total of 71,399 metres. The database is comprised of 139 diamond holes (39,541 metres), 117 RC drill holes (12,411 metres) and 56 RC with diamond tails (RC 5,995 metres and diamond 13,452 metres). Drill spacing for the Memot 2024 Resource Estimate is approximate 50m by 50m with some selected areas drilled to 25m by 25m for the purpose of adding to the confidence of the grade continuity (refer Figures 4, 5 and 6).

The diamond core was sampled using half-core where the core is cut in half down the longitudinal axis. The core was predominantly sampled on 1m sample intervals with a minimum sample interval of 0.6 metres, as determined by a geologist based on viewing potential mineralisation. In zones of interpreted waste the core was sampled at 2m intervals.

Reverse circulation (RC) drilling is used to collect both a 4m composite and 1m samples. The 4m composites are taken from the excess bagged material from the cyclone, taken every 1m. A spear sampling technique is then used to produce a 3-5kg composite sample. The 1m samples are split with a three tier riffle splitter at the drill rig to produce a 3-5kg sub-sample. These 1m samples are submitted after the results of the 4m composites are received to identify the zones of mineralisation.

Sample preparation was carried out at a commercial off-site laboratory (ALS Phnom Penh). Gold assays are conducted at ALS Vientiane, Laos, utilising Au-AA26 50g fire assay read by AAS. Multi-element assay is completed at ALS, Brisbane, Australia with ME-MS44 and ME-ICP44 + Au 50g (Au-TL44) aqua regia extraction with ICP-MS finish.

Potential for Eventual Economic Extraction

The Memot 2024 Resource Estimate used costs that are currently utilised by the current Open Pit mining operations at the Okvau Gold Project and is based on a gold price of US$2,500/oz. The resource is reported above a lower cut-off grade 0.7g/t Au (refer Table 1).

A metallurgical investigation was carried out at ALS using exploration diamond drill hole intersections across the Memot Deposit and across a range of depths. The tested intercepts mainly consist of fresh rock. Comprehensive head assays were conducted on each intercept used to generate the metallurgical testing composite sample, which identified gold and sulphides at similar concentrations to Okvau. Screen fire assays on also conducted on these intersections identified coarse gold in support of logging observations identifying visible gold presence.

A metallurgical test program based on the Okvau flowsheet but with a gravity gold recovery process was developed with additional whole ore comparative leaching testwork. Whole ore leach testwork at a grind size of 106microns was able to extract 86% of the gold of which 40% of the gold was recovered via the gravity gold recovery stage. Comparative flotation testwork at the same grind size was able to recover 98% of the gold to a gravity concentrate. Leaching of the flotation concentrate was able to extract 84% of the gold including the gravity gold recovered component. Additional leach testing of flotation concentrate samples did not demonstrate an economic advantage from concentrate regrinding. This preliminary testing program identified that there is a significant amount of easily recoverable gravity gold, that an intricate Okvau gold extraction flowsheet is not warranted and gold can be readily recovered by a conventional CIL gold flowsheet.

Mineral Resource Estimation

The gold estimate is based on mineralised domains (estimation domain) generated using Micromine’s implicit vein modelling tool, using drill holes coded with a mineralisation interpretation by Emerald technical staff. Selections were considered when interpreting subsequent sections to maintain lode shape and continuity. A nominal 0.2g/t Au lower cutoff grade was utilized and includes a maximum 5 metres of internal dilution plus 1 metre of external dilution and was generated using the known geological controls on gold mineralisation. The mineralised domain outline incorporates lower grades if the general shape and continuity of mineralisation appeared consistent. The modelled lithology includes diorite and metasedimentary (hornfels) host rocks. An oxidation surface representing the top of fresh rock was also modelled.

The Mineral Resource was determined using Ordinary Kriging (‘OK’) within the mineralisation zone constraints. A ‘parent’ block size of 5 mN x 10 mE x 2.5 mRL was used and the model was constrained by a topographic survey and the geological model. Due to historical mining activities at surface, and subsequent reworkings, in-situ oxide material was excluded from the resource calculation.

The OK estimate was generated using a three-pass estimation approach, with search parameters of 70m x 70m x 14m for pass 1 and with expanded dimensions for pass 2 and 3 to allow interpreted mineralisation to be estimated. Blocks were estimated with a minimum distance of approximately 25m from data (maximum distance of 120m) with the sample searches optimised based on geostatistical investigations and variography generated for gold variables.

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29 April 2022 The grade estimates are based on 2m down-the-hole composites of the RC and diamond drilling. High-grade cuts were applied to the composite data to limit the influence of high-grade outliers. High-grade cuts have been determined via outlier analysis studies with a high-grade cut of 30g/t Au being applied to the data set.

Estimates located within approximately 25 metres of drilling, with an average distance of less than 50 metres, are classified as an Indicated Mineral Resource. Conversely, estimates situated within approximately 25 metres of drilling but with an average distance greater than 50 metres and less than 90 metres have been classified as an Inferred Mineral Resource.

In the resource no rigorous application has been made of minimum mining width, internal or external dilution or other modifying factors and the Resource is reported in situ. The grade estimate was validated statistically and visually.

The Memot Gold Project remains open along strike and at depth. The Company has continued drilling at the Memot Gold Project, with the aim of upgrading the Inferred Mineral Resource classification and to test the continuity of the mineralisation further along strike and at depth. Further resource estimate updates are planned within first half calendar year 2025.

Additional prospective targets include two nearby diorite intrusions interpreted with data collected by geophysical surveys (Ground magnetics and Gradient Array IP) with coincident Au and Cu in-soil anomalies (refer ASX announcement dated 29 July 2022). These geochemical and geophysical anomalies located within 3kms of the Memot 2024 Resource Estimation.

Figure 4 | Plan View of the collars used in the mineral resource estimation and the resource above 0.7 g/t Au coloured by grade

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29 April 2022 Figure 5 | Cross section of the Memot Gold Project with the inferred resource block model (red). Significant intercepts announced after February 2024 are highlighted in blue, with the black highlights drilling completed before February 2024

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Figure 6 | Oblique Long section of the Memot Gold Project. Significant intercepts announced after February 2024 are highlighted in blue, with the black highlights drilling completed before February 2024

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29 April 2022

Bulk Density

A bulk density dataset (+2,000 measurements) was collected throughout the deposit via the immersion method of core billets. Bulk densities of 1.80g/cm³ and 2.84g/cm³ were assigned to oxidised and fresh material respectively.

Illegal Artisanal Mining Activities

With the assistance of the Cambodian government and by actively collaborating with community leaders, all artisanal mining operations at the Memot Gold Project had ceased early in 2024.

Figure 7 | Previous artisanal mining activities at the Memot Gold Project

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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

About Emerald Resources NL

Overview

Emerald is a developer and explorer of gold projects. Emerald’s Okvau Gold Mine, Cambodia was commissioned in June 2021 and in full production by September 2021. Emerald has now poured ~350kozs of gold from its operations.

Emerald has significant exploration and resource growth potential in Cambodia through its holdings in a number of other projects which are made up of a combination of granted mining licences (100% owned by Emerald) and interests in joint venture agreements. Together, Emerald’s interests in its Cambodian Projects covers a combined area of 1,428km².

Emerald has significant exploration and resource growth potential in Australia with ~950km² of highly prospective Western Australian tenure at the Dingo Range Gold Project covering the entire Dingo Range greenstone belt.

Emerald has a highly experienced management team, undoubtedly one of the best credentialed gold development teams in Australia with a proven history of developing projects successfully, quickly and cost effectively. They are a team of highly competent mining engineers and geologists who have overseen the successful development of gold projects in developing countries such as the Bonikro Gold Project in Cote d’Ivoire for Equigold NL and more recently, the Okvau Gold Mine in Cambodia.

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29 April 2022

Forward Looking Statement

This document contains certain forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections about the industry in which Emerald Resources operates, and beliefs and assumptions regarding the Company’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”’ “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known or unknown risks, uncertainties and other factors, some of which are beyond the control of the Company, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, which reflect the view of Emerald Resources only as of the date of this announcement. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Emerald Resources will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. This document has been prepared in compliance with the current JORC Code 2012 Edition and the ASX listing Rules.

The Company believes that is has a reasonable basis for making the forward-looking statements in this announcement, based on the information contained in this announcement. Reference is made to the ASX announcement dated 21 December 2023.

Competent Persons Statements

The information in this report that relates to Exploration Drill Results for the reported Resource from Memot is based on information compiled by Mr Keith King, who is an employee to the Company and who is a Member of The Australasian Institute of Mining & Metallurgy. Mr Keith King has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr King has reviewed the contents of this release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources for the Memot Project was prepared by Robert Wilson, who is an employee to the Company and who is a Member of The Australasian Institute of Mining & Metallurgy. Mr Wilson has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Wilson has reviewed the contents of this release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.

The work completed by Mr Robert Wilson has been peer reviewed by Brian Wolfe, Principal Consultant of International Resource Solutions Pty Ltd. Mr Wolfe is independent of Emerald and was Competent Person for the Maiden Inferred Resource estimation announced on the 21 December 2023.

No New Information

To the extent that this announcement contains references to prior exploration results and Mineral Resource estimates, which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new material information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Page 10 of 23

==> picture [137 x 33] intentionally omitted <==

29 April 2022

Appendix One | New Significant Intercepts - Memot Resource definition infill. Blank values for Ag, Cu, Pb and Zn indicate assays are still pending. (>2 gram metre Au or anomalous Ag, Cu, Pb or Zn values)

Prospect	Hole Name	Easting WGS84	Northing IND60	RL	Azi	Dip	End Depth (m)	From (m)	To (m)	Interval (m)	Gold g/t	Silver (g/t)	Copper (ppm)	Lead (ppm)	Zinc (ppm)
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	288.4	303.2	14.8	3.94	2.52	660	43	62
	including							292.4	293	0.6	58.10	17.30	1,450	60	53
Memot	DD24MMT311	633,784	1,318,219	45	225	-77	402	120.8	124	3.2	11.11	13.96	1,933	304	2,342
								120.8	121.4	0.6	57.60	71.00	9,540	1,180	12,050
Memot	DD24MMT321	633,497	1,318,357	42	225	-65	384	15.6	16.4	0.8	39.10	-	-	-	-
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	384	386.4	2.4	11.31	1.55	345	32	121
								384	384.6	0.6	42.20	1.30	247	3	37
Memot	DD24MMT310	633,791	1,317,649	48	45	-75	347	191	212	21.0	1.25	-	-	-	-
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	325.6	326.4	0.8	31.20	-	-	-	-
Memot	RCDD24MMT034	633,355	1,317,946	46	225	-77	357	152.6	157.8	5.2	4.60	4.57	963	47	227
Memot	DD24MMT309	633,451	1,317,833	47	210	-63	367	170.2	170.8	0.6	38.00	28.10	4,690	176	420
Memot	DD24MMT305	633,432	1,317,874	48	220	-73	371	162.2	172	9.8	2.24	2.46	496	43	267
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	207.6	208.2	0.6	36.20	17.70	1,725	175	205
Memot	DD24MMT313	633,500	1,317,793	46	225	-68	203	118.6	122.2	3.6	5.61	2.37	430	42	51
Memot	DD24MMT324	633,463	1,318,250	43	225	-69	375	138.6	142.6	4.0	4.74	-	-	-	-
Memot	DD24MMT325	633,808	1,317,744	50	221	-60	377	303.8	304.4	0.6	29.90	-	-	-	-
Memot	DD24MMT310	633,791	1,317,649	48	45	-75	347	131	131.8	0.8	22.30	-	-	-	-
Memot	DD24MMT324	633,463	1,318,250	43	225	-69	375	325.2	326	0.8	20.80	-	-	-	-
Memot	DD24MMT320	633,550	1,318,197	44	225	-68	404	289.8	290.4	0.6	27.30	-	-	-	-
Memot	DD24MMT325	633,808	1,317,744	50	221	-60	377	183	187	4.0	4.09	-	-	-	-
Memot	DD24MMT305	633,432	1,317,874	48	220	-73	371	148.2	155	6.8	2.30	0.65	230	4	29
Memot	RCDD24MMT248	633,956	1,318,034	51	225	-64	504	479.8	480.4	0.6	26.00	-	-	-	-
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	194.4	195	0.6	25.50	10.90	1,460	43	179
Memot	DD24MMT309	633,451	1,317,833	47	210	-63	367	33.6	34.2	0.6	24.60	32.40	1,925	2,430	1,945
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	217.8	218.4	0.6	23.50	-	-	-	-
Memot	DD24MMT319	633,395	1,318,177	43	225	-62	248	132	135.6	3.6	3.86	-	-	-	-
Memot	DD24MMT311	633,784	1,318,219	45	225	-77	402	34.9	36.4	1.5	8.79	7.47	1,186	72	140
Memot	DD24MMT325	633,808	1,317,744	50	221	-60	377	134	139.2	5.2	2.51	-	-	-	-
Memot	DD24MMT324	633,463	1,318,250	43	225	-69	375	370.2	370.8	0.6	21.50	-	-	-	-
Memot	DD24MMT312	633,815	1,318,033	48	225	-66	439	184.4	185	0.6	20.20	-	-	-	-
Memot	DD24MMT212	633,420	1,317,717	44	225	-60	208	136.1	140	3.9	3.02	1.67	119	708	871
Memot	DD24MMT313	633,500	1,317,793	46	225	-68	203	134.4	135	0.6	19.45	18.90	4,760	117	268
Memot	DD24MMT313	633,500	1,317,793	46	225	-68	203	143.6	144.2	0.6	19.25	21.50	807	228	61
Memot	RCDD24MMT199	633,888	1,318,054	50	45	-72	452	319	330	11.0	1.04	-	-	-	-
Memot	DD24MMT258	633,816	1,318,068	46	330	-70	391	160	162	2.0	5.65	0.35	282	2	28
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	308	308.8	0.8	13.75	8.70	1,005	281	760
Memot	DD24MMT239	633,322	1,317,833	44	225	-65	228	107.4	108	0.6	15.95	2.70	547	3	52
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	314.2	318.2	4.0	2.37	4.42	1,449	25	76
Memot	DD24MMT306	633,728	1,317,727	51	210	-62	347	157.6	160.2	2.6	3.57	22.19	5,814	147	1,244
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	155.7	156.4	0.7	13.15	47.00	5,040	944	6,490
Memot	DD24MMT302	633,594	1,317,705	46	225	-70	372	276.8	277.6	0.8	11.35	32.10	411	5,060	5,860
Memot	DD24MMT280	633,808	1,317,887	49	225	-62	453	210.4	211	0.6	14.25	12.90	2,620	197	478
Memot	DD24MMT306	633,728	1,317,727	51	210	-62	347	234	240	6.0	1.37	0.80	63	194	336
Memot	DD24MMT312	633,815	1,318,033	48	225	-66	439	59	59.6	0.6	13.55	-	-	-	-

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Memot	DD24MMT322	633,301	1,318,224	43	225	-63	197	144.2	145.8	1.6	4.93	-	-	-	-
Memot	DD24MMT306	633,728	1,317,727	51	210	-62	347	72.2	73	0.8	9.80	6.40	1,915	24	106
Memot	DD24MMT317	633,575	1,318,153	44	225	-63	429	371	373.6	2.6	2.85	-	-	-	-
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	272	272.6	0.6	12.10	14.80	1,625	522	120
Memot	DD24MMT314	633,799	1,318,164	46	225	-72	441	214	219.6	5.6	1.29	4.20	960	62	327
Memot	DD24MMT307	633,847	1,317,825	48	215	-64	454	165.2	166.8	1.6	4.49	43.10	9,062	277	1,545
Memot	DD24MMT220	633,466	1,317,622	45	225	-65	242	184	184.6	0.6	11.80	-	-	-	-
Memot	RCDD24MMT171	633,566	1,318,074	45	225	-63	441	356.6	357.2	0.6	11.55	-	-	-	-
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	214.4	220	5.6	1.15	4.21	277	692	40
Memot	DD24MMT312	633,815	1,318,033	48	225	-66	439	271.8	273.6	1.8	3.58	-	-	-	-
Memot	DD24MMT317	633,575	1,318,153	44	225	-63	429	193.8	195.8	2.0	3.17	-	-	-	-
Memot	DD24MMT302	633,594	1,317,705	46	225	-70	372	42	46.6	4.6	1.37	3.57	157	352	94
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	260.4	261	0.6	10.45	4.30	477	68	88
Memot	DD24MMT309	633,451	1,317,833	47	210	-63	367	133	135	2.0	2.96	0.33	167	3	35
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	353	355	2.0	2.95	-	-	-	-
Memot	RCDD24MMT034	633,355	1,317,946	46	225	-77	357	203	204	1.0	5.89	2.30	128	6	80
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	244	244.6	0.6	9.64	-	-	-	-
Memot	RCDD24MMT171	633,566	1,318,074	45	225	-63	441	437.2	437.8	0.6	9.64	-	-	-	-
Memot	DD24MMT314	633,799	1,318,164	46	225	-72	441	260.2	261.2	1.0	5.73	23.90	8,230	602	880
Memot	DD24MMT258	633,816	1,318,068	46	330	-70	391	30.8	35.6	4.8	1.17	1.27	223	103	137
Memot	DD24MMT305	633,432	1,317,874	48	220	-73	371	184.2	188.6	4.4	1.22	0.94	589	8	37
Memot	RCDD24MMT248	633,956	1,318,034	51	225	-64	504	426.4	428.4	2.0	2.64	-	-	-	-
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	195	196.4	1.4	3.73	-	-	-	-
Memot	DD24MMT233	633,664	1,317,654	47	205	-55	324	9.6	10.7	1.1	4.57	-	-	-	-
Memot	DD24MMT304	633,617	1,318,064	46	220	-71	445	238.2	238.8	0.6	8.24	19.60	1,695	233	1,225
Memot	DD24MMT305	633,432	1,317,874	48	220	-73	371	273.2	275	1.8	2.71	6.60	280	418	529
Memot	DD24MMT312	633,815	1,318,033	48	225	-66	439	424.8	425.4	0.6	7.75	-	-	-	-
Memot	DD24MMT312	633,815	1,318,033	48	225	-66	439	380.4	384.2	3.8	1.20	-	-	-	-
Memot	RCDD24MMT248	633,956	1,318,034	51	225	-64	504	326.6	330	3.4	1.33	-	-	-	-
Memot	DD24MMT319	633,395	1,318,177	43	225	-62	248	115	116	1.0	4.44	-	-	-	-
Memot	DD24MMT250	633,744	1,318,115	45	225	-71	415	184	184.6	0.6	7.26	-	-	-	-
Memot	DD24MMT322	633,301	1,318,224	43	225	-63	197	77	81	4.0	1.08	-	-	-	-
Memot	DD24MMT302	633,594	1,317,705	46	225	-70	372	339	339.6	0.6	6.86	7.40	286	179	1,325
Memot	DD24MMT324	633,463	1,318,250	43	225	-69	375	151.8	152.4	0.6	6.72	-	-	-	-
Memot	DD24MMT320	633,550	1,318,197	44	225	-68	404	351.8	352.4	0.6	6.57	-	-	-	-
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	231.4	232	0.6	6.06	4.40	212	36	31
Memot	RCDD24MMT034	633,355	1,317,946	46	225	-77	357	246.8	247.4	0.6	6.02	1.60	119	44	67
Memot	DD24MMT280	633,808	1,317,887	49	225	-62	453	350.2	351.2	1.0	3.58	36.20	3,680	1,020	17,250
Memot	DD24MMT307	633,847	1,317,825	48	215	-64	454	274.4	277.6	3.2	1.11	3.66	576	100	82
Memot	RCDD24MMT178	633,404	1,318,391	43	225	-55	345	173	174	1.0	3.52	0.40	117	2	19
Memot	RCDD24MMT248	633,956	1,318,034	51	225	-64	504	411.8	412.4	0.6	5.80	-	-	-	-
Memot	DD24MMT312	633,815	1,318,033	48	225	-66	439	373.8	374.4	0.6	5.75	-	-	-	-
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	231	232	1.0	3.39	-	-	-	-
Memot	DD24MMT312	633,815	1,318,033	48	225	-66	439	0.6	1.6	1.0	3.32	-	-	-	-
Memot	DD24MMT306	633,728	1,317,727	51	210	-62	347	108.6	109.2	0.6	5.42	6.80	2,160	48	97
Memot	DD24MMT250	633,744	1,318,115	45	225	-71	415	344.6	345.2	0.6	5.33	-	-	-	-
Memot	DD24MMT250	633,744	1,318,115	45	225	-71	415	306	307.8	1.8	1.77	-	-	-	-
Memot	DD24MMT311	633,784	1,318,219	45	225	-77	402	4	4.7	0.7	4.55	1.60	282	10	54

Page 12 of 23

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Memot	DD24MMT307	633,847	1,317,825	48	215	-64	454	214.8	216.2	1.4	2.21	5.37	2,325	63	1,113
Memot	DD24MMT320	633,550	1,318,197	44	225	-68	404	294.8	295.4	0.6	5.02	-	-	-	-
Memot	RCDD24MMT224	633,774	1,317,612	48	215	-55	282	153.2	154.6	1.4	2.14	-	-	-	-
Memot	DD24MMT309	633,451	1,317,833	47	210	-63	367	149.6	150.2	0.6	4.62	10.90	4,600	102	215
Memot	DD24MMT305	633,432	1,317,874	48	220	-73	371	309	311.2	2.2	1.24	2.40	268	127	2,607
Memot	DD24MMT258	633,816	1,318,068	46	330	-70	391	47	50	3.0	0.88	0.07	125	2	54
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	433	434.2	1.2	2.18	8.90	1,510	104	151
Memot	RCDD24MMT199	633,888	1,318,054	50	45	-72	452	388.6	390	1.4	1.87	-	-	-	-
Memot	DD24MMT258	633,816	1,318,068	46	330	-70	391	71	73	2.0	1.30	0.08	122	1	27
Memot	RCDD24MMT248	633,956	1,318,034	51	225	-64	504	451.8	452.4	0.6	4.32	-	-	-	-
Memot	DD24MMT258	633,816	1,318,068	46	330	-70	391	53	55	2.0	1.29	0.35	197	8	145
Memot	DD24MMT313	633,500	1,317,793	46	225	-68	203	14	15	1.0	2.56	0.10	80	2	105
Memot	DD24MMT317	633,575	1,318,153	44	225	-63	429	19.8	21.8	2.0	1.28	-	-	-	-
Memot	DD24MMT302	633,594	1,317,705	46	225	-70	372	79.6	81.8	2.2	1.12	0.30	110	15	44
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	10	10.6	0.6	4.06	12.40	1,625	443	86
Memot	RCDD24MMT171	633,566	1,318,074	45	225	-63	441	301	301.6	0.6	3.97	-	-	-	-
Memot	RCDD24MMT248	633,956	1,318,034	51	225	-64	504	273.4	274	0.6	3.92	-	-	-	-
Memot	DD24MMT258	633,816	1,318,068	46	330	-70	391	25	27.6	2.6	0.90	0.61	217	8	234
Memot	DD24MMT319	633,395	1,318,177	43	225	-62	248	56.6	57.4	0.8	2.92	-	-	-	-
Memot	DD24MMT316	633,593	1,317,606	46	225	-60	281	185	186	1.0	2.31	-	-	-	-
Memot	DD24MMT313	633,500	1,317,793	46	225	-68	203	67.2	68	0.8	2.85	2.30	299	124	1,180
Memot	DD24MMT310	633,791	1,317,649	48	45	-75	347	271	272.6	1.6	1.39	-	-	-	-
Memot	DD24MMT310	633,791	1,317,649	48	45	-75	347	188	190	2.0	1.11	-	-	-	-
Memot	DD24MMT302	633,594	1,317,705	46	225	-70	372	16	17.2	1.2	1.84	4.50	974	24	145
Memot	DD24MMT250	633,744	1,318,115	45	225	-71	415	193.6	194.2	0.6	3.64	-	-	-	-
Memot	RCDD24MMT248	633,956	1,318,034	51	225	-64	504	253	253.6	0.6	3.64	-	-	-	-
Memot	DD24MMT305	633,432	1,317,874	48	220	-73	371	327.4	328.6	1.2	1.76	0.45	401	3	21
Memot	DD24MMT314	633,799	1,318,164	46	225	-72	441	231.4	232	0.6	3.52	11.10	2,190	62	176
Memot	DD24MMT309	633,451	1,317,833	47	210	-63	367	14.5	15.4	0.9	2.34	1.00	66	10	66
Memot	DD24MMT250	633,744	1,318,115	45	225	-71	415	362	363	1.0	2.10	-	-	-	-
Memot	DD24MMT302	633,594	1,317,705	46	225	-70	372	116.4	117	0.6	3.49	14.80	948	934	101
Memot	DD24MMT320	633,550	1,318,197	44	225	-68	404	226	227	1.0	2.07	-	-	-	-
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	161	161.6	0.6	3.44	-	-	-	-
Memot	DD24MMT309	633,451	1,317,833	47	210	-63	367	141.4	142	0.6	3.41	3.60	669	95	92
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	60	60.6	0.6	3.40	-	-	-	-
Memot	DD24MMT222	633,427	1,317,685	44	225	-60	204	133	134.2	1.2	1.67	-	-	-	-
Memot	DD24MMT250	633,744	1,318,115	45	225	-71	415	83.6	85.4	1.8	1.10	-	-	-	-
Memot	DD24MMT307	633,847	1,317,825	48	215	-64	454	356.4	357	0.6	3.29	11.80	1,340	422	15,250
Memot	DD24MMT311	633,784	1,318,219	45	225	-77	402	209.1	209.8	0.7	2.81	12.30	3,200	161	256
Memot	DD24MMT314	633,799	1,318,164	46	225	-72	441	23.4	24.1	0.7	2.79	6.60	653	90	63
Memot	RCDD24MMT034	633,355	1,317,946	46	225	-77	357	217	217.8	0.8	2.41	1.00	115	13	105
Memot	DD24MMT307	633,847	1,317,825	48	215	-64	454	318	318.6	0.6	3.13	0.40	316	1	22
Memot	DD24MMT310	633,791	1,317,649	48	45	-75	347	295	295.6	0.6	3.13	-	-	-	-
Memot	DD24MMT258	633,816	1,318,068	46	330	-70	391	208.4	209	0.6	3.12	4.20	875	86	116
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	362.6	363.2	0.6	3.05	4.00	1,555	9	95
Memot	DD24MMT258	633,816	1,318,068	46	330	-70	391	224.4	225	0.6	3.01	3.90	2,160	7	69
Memot	DD24MMT312	633,815	1,318,033	48	225	-66	439	431	431.6	0.6	3.01	-	-	-	-
Memot	DD24MMT305	633,432	1,317,874	48	220	-73	371	22.2	22.8	0.6	2.94	3.30	222	99	413

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Memot	DD24MMT307	633,847	1,317,825	48	215	-64	454	261	262	1.0	1.75	0.20	238	4	25
Memot	DD24MMT318	633,312	1,318,313	43	225	-60	222	196	197	1.0	1.74	-	-	-	-
Memot	DD24MMT305	633,432	1,317,874	48	220	-73	371	119.4	120	0.6	2.84	0.80	208	8	50
Memot	DD24MMT250	633,744	1,318,115	45	225	-71	415	324	324.8	0.8	2.12	-	-	-	-
Memot	RCDD24MMT171	633,566	1,318,074	45	225	-63	441	401	401.6	0.6	2.81	-	-	-	-
Memot	DD24MMT303A	633,820	1,317,794	49	225	-58	16	10.2	11.2	1.0	1.68	3.50	348	379	104
Memot	DD24MMT302	633,594	1,317,705	46	225	-70	372	142.4	143	0.6	2.74	5.10	319	257	79
Memot	DD24MMT307	633,847	1,317,825	48	215	-64	454	374	375	1.0	1.61	1.60	279	114	601
Memot	DD24MMT303	633,821	1,317,795	49	225	-58	442	163	164	1.0	1.60	0.05	237	0	37
Memot	DD24MMT319	633,395	1,318,177	43	225	-62	248	71	72	1.0	1.60	-	-	-	-
Memot	DD24MMT311	633,784	1,318,219	45	225	-77	402	195.2	196	0.8	1.99	4.10	804	33	77
Memot	DD24MMT306	633,728	1,317,727	51	210	-62	347	143.8	144.4	0.6	2.63	0.20	127	3	20
Memot	DD24MMT307	633,847	1,317,825	48	215	-64	454	267	267.6	0.6	2.63	4.90	1,545	78	73
Memot	RCDD24MMT171	633,566	1,318,074	45	225	-63	441	330.6	331.2	0.6	2.61	-	-	-	-
Memot	DD24MMT318	633,312	1,318,313	43	225	-60	222	107	108	1.0	1.56	-	-	-	-
Memot	DD24MMT212	633,420	1,317,717	44	225	-60	208	28.2	28.8	0.6	2.59	2.50	528	17	63
Memot	DD24MMT321	633,497	1,318,357	42	225	-65	384	158	159	1.0	1.55	-	-	-	-
Memot	DD24MMT315	633,469	1,317,949	47	235	-68	397	252	252.6	0.6	2.58	-	-	-	-
Memot	DD24MMT306	633,728	1,317,727	51	210	-62	347	1.1	2	0.9	1.69	6.80	1,070	351	1,365
Memot	DD24MMT310	633,791	1,317,649	48	45	-75	347	181	182	1.0	1.52	-	-	-	-

Appendix Two | JORC Code, 2012 Edition | ‘Table 1’ Report

Section 1 Sampling Techniques and Data from Drilling included in Resources

(Criteria in this section apply to all succeeding sections).

Criteria JORC Code explanation Commentary Sampling • Nature and quality of sampling (eg cut • Diamond drilling is used to recover a continuous core techniques channels, random chips, or specific specialised sample of bedrock. As a standard 1m length half-core industry standard measurement tools samples are submitted for assay, in a small number of appropriate to the minerals under cases sample interval lengths have been modified to use investigation, such as down hole gamma geological boundaries as the limit of sample interval for sondes, or handheld XRF instruments, etc). assay. These examples should not be taken as limiting • Reverse circulation (RC) drilling is used to collect both a the broad meaning of sampling. 4m composite and 1m samples. The 4m composites are
• Include reference to measures taken to ensure taken from the excess bagged material off the cyclone sample representivity and the appropriate taken every 1m. A spear sampling technique is then calibration of any measurement tools or used to produce a 3-5kg composite sample. The 1m systems used. samples are split with a riffle splitter at the drill rig to
- Reverse circulation (RC) drilling is used to collect both a 4m composite and 1m samples. The 4m composites are taken from the excess bagged material off the cyclone taken every 1m. A spear sampling technique is then used to produce a 3-5kg composite sample. The 1m samples are split with a riffle splitter at the drill rig to produce a 3-5kg sub-sample. These 1m samples are submitted after the results of the 4m composites are received to identify the zones of mineralisation.
Aspects of the determination of mineralisation that are Material to the Public Report.
In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.
Current drill sample preparation is carried out at a commercial off-site laboratory (ALS Phnom Penh). Gold assays are conducted at ALS Vientiane, Laos utilising a 50gram subsample of 85% passing 75µm pulped sample using Fire Assay with AAS finish on and Aqua Regia digest of the lead collection button. Multi-element assay is completed at ALS, Brisbane and Perth, Australia on a 1g pulp subsample digested by Aqua Regia and determined by ICP-AES or ICP-MS for lowest available detection for the respective element.
Certified reference materials and blanks are inserted in sample batches to assess laboratory performance.
Field duplicates are inserted regularly to assess the repeatability and variability of the mineralisation.

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Criteria	JORC Code explanation	Commentary
		• Laboratory duplicates were also completed approximately every 15th sample to assess the precision of the laboratory as well as the repeatability and variability of the gold mineralisation. • Results of the QAQC sampling were considered acceptable.
Drilling techniques	• Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	• A track-mounted Boart Longyear LF70 M/P drill rig is used to drill HQ3 and NQ2 diamond core. Man-portable rigs were used to drill HQ and NTW diamond core. • A track mounted Boart Longyear DB540 M/P drill rig is used to drill 5.25 inch RC holes. • Core diameter varies –HQ, HQ3, NQ2, NTW used at various times. • Core was oriented by means of a REFLEX ACT orientation tool,followinga standard operating procedure.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• All RC 1m samples and sub-samples (pre- and post-split) are weighed at the rig, to check that there is adequate sample material for assay. Any wet or damp samples are noted and that information is recorded in the database; samples are usually dry. • Diamond core recovery is routinely monitored by comparing recovered core vs drill run lengths – recovery is consistently high. Recovery data are recorded on drill run lengths. • There is no observed relationship between sample recoveryandgrade.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• All RC chips and diamond core is routinely logged (qualitatively) by a geologist, to record details of regolith (oxidation), lithology, structure, mineralisation and/or veining, and alteration. In addition, the magnetic susceptibility of all samples is routinely measured. All logging and sampling data are captured into a database, with appropriate validation and security features. • A geotechnical log is produced for all diamond core. • Core has been logged to an appropriate level of detail by a geologist to support mineral resource estimation. • 100% of core is logged, with the mineralised intersections logged in greater detail. • In addition to the geological logging, other features recorded are: location of bulk density samples; downhole camera survey calibration, intervals confidentlyoriented;and core condition.
Sub- sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material beingsampled.	• Field duplicates are inserted at regular intervals downhole (every 25m) and are collected at the RC drill rig to monitor sampling precision; while coarse crush duplicates of diamond core are generated at the sample prep stage (because of the need to preserve drill core). • This sample technique is industry standard and is deemed appropriate for the deposit style at Memot.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determiningthe analysis including	• All samples are sent to the NATA accredited ALS Laboratory in Vientiane, Laos, for single Aqua Regia digest with a 50g charge with an ICP-MS finish. Samples are sent to the similarly accredited ALS Lab in Brisbane, Australia and ALS Lab Perth, Australia, for multielement ICP analysis, after partial extraction by aqua regia digest then via a combination of ICP-MS and ICP-AES. This

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Criteria	JORC Code explanation	Commentary
	instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	method has a lower detection limit of 1ppm gold. If the Au result is greater than 100ppm Au then sample is reassayed by a 50g gravimetric analysis with a high upper detection limit. Fire assay is considered a total gold assay. • This method has a lower detection limit of 0.01g/t Au. • All magnetic susceptibility measurements of drill samples are made with a Terraplus KT-10 magnetic susceptibility meter. • An appropriate sample preparation and analytical quality control program confirms that the gold fire assay values are of acceptable quality to underpin mineral resource estimation. • Industry-standard QAQC protocols are routinely followed for all sample batches sent for assay, which includes the insertion of commercially available CRMs and blanks into all batches - usually 1 of each for every 20 field samples. Some blanks used are home-made from barren basalt or quarry granite. QAQC data are routinely checked before any associated assay results are reviewed for interpretation, and any problems are investigated before results are released to the market. • All assay data, including internal and external QA/QC data and control charts of standard, replicate and duplicate assay results, are communicated electronically. • Reviews of QA/QC data by senior Emerald Technical staff concluded that the quality of assay data is sufficient to support reporting of the Memot 2024 Resource Estimate.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• The calculations of all significant intercepts (for drill holes) are routinely checked by senior management. • Two close spaced (twin) holes confirm confidence in the existence and projection of mineralised intercepts over short ranges. • All field data associated with drilling and sampling, and all associated assay and analytical results, are managed in a relational database, with industry-standard verification protocols and security measures in place. • Emerald Senior Resource Geologist and Competent Person, Robert Wilson visited the site in several times throughout 2023 and 2024 and visually verified the results in the assay database against mineralised intersections evident in the stored half core.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Drill hole collar locations are surveyed with a differential GPS used in RTK survey mode. The instrument has sub centimetre accuracy for both horizontal coordinates and vertical coordinates. • All locations are surveyed to the WGS84 UTM grid. • A topography surface was generated using data collected from a UAV (drone) survey referencing established survey control. This topography surface was confirmed by the survey positions of the drill collars and was applied to this Study. • Emerald technical staff with the assistance of contract surveyor (Aruna Technology Ltd) recorded the collar locations and generate digital terrain models of the site. • All drillholes are surveyed downhole at regular intervals, usually 25-30m, for all types of drilling, using a single- shot REFLEX survey tool (operated by the driller and checked bythe supervising geologist).
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological andgrade continuityappropriate for the	• Intersection spacing for the Memot 2024 Resource Estimate is approximately 50m by 50m. Some selected areas are drill tested to approximately 25m by 25m drill spacing to provide additional confidence of the grade continuity.

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Criteria	JORC Code explanation	Commentary
	Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• This drill spacing is considered to be sufficient to establish geological and grade continuity appropriate for the declaration of a Mineral Resource. • No samples within a “zone of interest” are ever composited.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• Drill holes are usually designed to intersect target structures with a “close-to-orthogonal” intercept. • Drilling has been done at various orientations; moderately to steeply southwest dipping is the most common. • Most of the drill holes intersect the mineralised zones at sufficient angle for the risk of significant sampling orientation bias to be low.
Sample security	• The measures taken to ensure sample security.	• The chain of custody for all drill samples from the drill rig and soil/auger samples from the field to the ALS Sample Preparation facility in Phnom Penh is managed by Renaissance Minerals (Cambodia) Limited personnel. Drill samples are transported from the drill site to the Memot exploration core farm, where they are logged and all samples are batched up for shipment to Phnom Penh. • Sample submission forms are sent to the ALS Sample Prep facility in paper form (with the samples themselves) and also as an electronic copy. Delivered samples are reconciled with the batch submission form prior to the commencement of any sample preparation. • ALS is responsible for shipping sample pulps from Phnom Penh to the analytical laboratories in Vientiane, Brisbane and Perth and all samples are tracked via their Global Enterprise Management System. • All bulk residues are stored permanently at the ALS laboratoryin Phnom Penh.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• All QAQC data are reviewed routinely, batch by batch, and on a quarterly basis to conduct trend analyses, etc. Any issues arising are dealt with immediately and problems resolved before results are interpreted and/or reported. • Senior Emerald technical staff routinely review the available quality data and have concluded the data quality is robust and appropriate for resource estimation studies.

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29 April 2022 Section 2 Reporting of Exploration Results from Recent Drilling at Memot

(Criteria listed in the preceding section also apply to this section)

Criteria	Explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaininga licence to operate in the area.	• The Memot licences are held (100%) in the name of Renaissance Minerals (Cambodia) Limited which is a wholly owned subsidiary of Emerald Resources NL. • The tenure is considered to be secure.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Some shallow (<60 metre depth) diamond drill core was previously completed by “Sun Trading” in 2008. But no other modern exploration techniques have been used prior to the Company’s involvement with theproject.
Geology	• Deposit type, geological setting and style of mineralisation.	• Gold occurrences within the licences is interpreted as a “intrusion-related gold system” related mineralisation. Gold mineralisation is hosted within quartz and/or sulphide veins and associated within or proximal distance to a Cretaceous age diorite.
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: - easting and northing of the drill hole collar; - elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar; - dip and azimuth of the hole; - down hole length and interception depth; - hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• Drilling used in the Memot 2024 Resource Estimate includes 312 collars (71,399 metres) including 52,993 metres of Diamond and 18,406 metres of RC drilling. Intersection spacing for the Memot Resource Estimate is approximately 50m by 50m. Some selected areas are drill tested to approximately 25m by 25m drill spacing to provide additional confidence of the grade continuity.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• No high grade top cuts have been applied. • The reported significant intersections in Appendix One are above 2 gram metre intersections and allow for up to 4m of internal dilution with a lower cut trigger values of greater than 0.5g/t.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	• All reported intersections are down hole lengths. True widths are unknown and vary depending on the orientation of target structures.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be	• Appropriate map is included in the body of this release.

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Criteria	Explanation	Commentary
	included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• All significant drilling results being intersections with a minimum 2 gram metre values are reported in Appendix One.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminatingsubstances.	• Surface geological mapping and detailed structural studies have helped inform the geological model of the Memot Deposit. • Milling, flotation and bottle-roll leach testing used for metallurgical testwork is commonly practiced by other operations using similar flowsheets to those tested to date for Memot.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Further drilling at the Memot Gold Project will be undertaken to test extensions of the known mineralisation. • Further drilling will be undertaken to test new targets, as potential is recognized. • Further extensive metallurgical testwork is planned. This will include locking down of a flowsheet, optimisation of conditions using composites and variability samples covering possible mineralogical domains.

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29 April 2022

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in the preceding section also apply to this section)

Criteria	Explanation	Commentary
Database integrity	• Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. • Data validation procedures used.	• Geological metadata is centrally stored in a SQL database managed using Micromine’s Geobank Software. Emerald employ a database administrator responsible for the integrity of data imported and modified within the system. All geological and field data is entered using logging software with lookup tables and fixed formatting (and protected from modification), thus only allowing data to be entered using the Emerald geological code system and sample protocol. Data is then emailed to the Emerald database administrator for validation and importation into a SQL database using Geobank. Sample numbers are unique and pre- numbered calico sample bags are used. • Following importation, the data goes through a series of digital and visual checks for duplication and non- conformity, followed by manual validation by senior Emerald technical staff.
Site visits	• Comment on any site visits undertaken by the Competent Person and the outcome of those visits. • If no site visits have been undertaken indicate why this is the case.	• Emerald Senior Resource Geologist and Competent Person Rob Wilson has undertaken numerous visits to the Cambodian Projects since 2023. • The ALS sample preparation laboratory in Phnom Penh was reviewed by senior Emerald technical staff in October 2023. No material issues were identified. • A review of the ALS Assay Laboratory in Vientiane, Laos was conducted by senior Emerald technical staff in October 2023 and no material issues were identified. • Diamond drilling was being completed during the aforementioned site visit. The drilling and sampling was completed consistent with good industry practice. • The core management facilities were observed and appeared to be organised and well suited to managing the logging and sampling procedure efficiently. • RC drilling was being completed during the site visit. The drilling and sampling protocols were reviewed and are considered to represent good industry practices. • Based on the site reviews, no data quality issues have been identified sufficient to affect the currently designated classification of the resources.
Geological Interpretation	• Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit. • Nature of the data used and of any assumptions made. • The effect, if any, of alternative interpretations on Mineral Resource estimation. • The use of geology in guiding and controlling Mineral Resource estimation. • The factors affecting continuity both of grade and geology.	• The confidence in the geological interpretation is high. The mineralisation is hosted within a stacked set of shallow north-east dipping, sulphide rich veins within diorite host rock. At the current drill spacing, the continuity of the interpreted mineralisation wireframes can be considered extended and further drilling is required to confirm the overall continuity. Uncertainty in the mineralisation interpretation is reflected in the MRE classification. • A wireframe representing the top of fresh material has been interpreted by Emerald technical staff. • Wireframes of the mineralised domains were created by Emerald technical staff using implicit vein modelling in Micromine. The interpretation included 1m of external dilution and a maximum 5m internal dilution. This interpretation was completed applying the interpreted geological controls.
Dimensions	• The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	• The mineralisation has been delineated over a strike length of approximately 1,100m, a width of approximately 900m and to a depth of 450m below surface.

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Criteria	Explanation	Commentary
Estimation and modelling techniques	• The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen, include a description of computer software and parameters used. • The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. • The assumptions made regarding recovery of by-products.	• Ordinary Kriging (OK) was chosen as the most appropriate estimation method for the Memot Open Pit gold resource. • The mineralisation domains to constrain the estimation was modelled as described above. • A downhole composite length of 2m has been used in this estimation. Each composite is located by their mid- point co-ordinates and assigned a length weighted average gold grade. • The variography applied to grade estimation has been generated using Isatis geostatistical software. Variography was based on combined gold grade domains. • A three-pass estimation strategy was applied whereby the second and third passes utilise expanded sample search neighbourhood parameters to allow successive estimation of the blocks not estimated in the first pass. • Sample neighbourhood of dimensions of 70m x 70m x 14m, was used for estimation pass 1 and with expanded dimensions of 120m x 120m x 24m for pass 2 and 3 to allow interpreted mineralisation to be estimated. • A minimum of six composites were required for grade estimation for the first two passes with a maximum number of 3 composites from any drill hole allowed to estimate a single block. For the third pass, the criteria have been relaxed to a minimum of 3 composites with no restriction on composite numbers per drillhole. A total maximum of 12 composites was used for all 3 passes. • Composite grades were capped at 30g/t. • Composite gold grades were length weighed in the estimate to account for the relatively large number of short or residual composite lengths constrained by the mineralised wireframes. • An expanded drilling footprint and increased target depth has led to an increase in the total MRE calculated for Memot. • No by-products were modelled. • No check estimates or production data is available for the Memot Gold Project.
	• Estimation of deleterious elements or other non-grade variables of economic significant (eg Sulphur for acid mine drainage characterization). • In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. • Any assumptions behind modelling of selective mining units. • Any assumption about correlation between variables. • Description of how the geological interpretation was used to control the resource estimates. • Discussion of basis for using or not using grade cutting or capping. The process of validation, the checking process used, the comparison of model data to drillhole data, and use of reconciliation data if available.	• No deleterious elements have been estimated or are expected to be important to the project economics\planning at Memot. • A parent block size of 5mE x 10mN x 5mRL was used for grade estimation. Blocks were sublocked to 5mE x 5mN x 2.5mRL for block model volume resolution. • The topography surface was generated using data collected from a UAV (drone) survey referencing established survey control. • The selected block size for the estimate may approximate a potential SMU. • No correlated variables have been estimated. • The grade estimate is based on mineralisation domains which have been interpreted based on a geological logging interpretation of individual veins and vein sets and a nominal 0.2g/t Au lower cut-off grade. Grade was estimated within each domain. The mineralisation constraints have been used as hard boundaries for grade estimation wherein only composite samples within that domain are used to estimate blocks coded as within that domain. • A review of the composite data captured within the mineralisation constraints was completed to assess the need for high grade cutting (capping). This assessment was completed both statistically and spatially to determine if the highgrade data clusters or were

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Criteria	Explanation	Commentary
		isolated. On the basis of the investigation it was decided that a top-cut of 30g/t appropriate. • The grade estimates were statistically and visually validatedprior to acceptance.
Moisture	• Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	• Tonnages are estimated on a dry basis, as described above.
Cut-off parameters	• The basis of the adopted cut-off grade(s) or quality parameters applied.	• The resource model has been designed to be robust for a range of lower cut-off grades between 0.5gt Au to 2.0gt Au.
Mining factor s or assumptions	• Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, extraction) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the miningassumptions made.	• The resource model assumes open cut mining is completed and a moderate to high level of mining selectivity (SMU dimension of 5mE x 10mN x 2.5mRL) is achieved in mining. This level of mining selectivity is consistent with the grade control approach but mining modifiers are required to account further for ore loss and dilution. • It has been assumed that high quality close spaced grade control will be applied to ore/waste delineation processes using RC drilling, or similar, applying a pattern sufficient to ensure adequate coverage of the mineralisation zones.
Metallurgical factors or assumptions	• The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	• Emerald has undertaken metallurgical testwork on the Memot Gold Project to evaluate flowsheet amenability. Cyanide bottle-roll results indicate better recoveries to the initial bottle-roll recoveries observed at the Okvau Gold Mine. In addition, flotation testwork indicates similar recoveries to flotation work conducted for Okvau Gold Mine. The mineralogy at Memot is similar to that found at Okvau except for Memot having a gravity recoverable portion, and thus, similar or better recoveries are expected.
Environmental factors or assumptions	• Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing option. While at this stage the determination of potential environmental impact, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.	• Due to the low relief and reasonably open topography of the area, and the lack of land conflict issues, it is assumed that waste and process residue would not preclude the project from progressing. • Further environmental impact studies will be completed as part of upcoming scoping studies for the Memot Gold Project.
Bulk density	• Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples. • The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc.), moisture and differences between rock and alteration zones within the deposit.	• Over 2,000 dry bulk density measurements were taken from selected core samples and measured using the immersion method. • The measurements are predominantly from fresh samples. Mineralisation is localised to high sulphide veins, intervals of which have been selectively sampled. • Based on the above the bulk densities have been assigned as either 1.80t/m³ or 2.84t/m³ for oxide and fresh respectively. • No grade estimate has been undertaken in the oxide material.

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ASX Announcement& Media Release 29 April 2022	ASX Announcement& Media Release 29 April 2022
Criteria	Explanation	Commentary
	• Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.
Classification	• The basis for the classification of the Mineral Resources into varying confidence categories. • Whether appropriate account has been taken of all relevant factors (ie. Relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data). • Whether the result appropriately reflects the Competent Person’s view of the deposit.	• The estimate has been classified as Indicated and Inferred based on the quality of the data collected, the density of data, the confidence of the geological model and mineralisation model, and the gold grade estimation quality. • Block grade estimates that were within approximately 25m of drilling and with an average distance to all informing composites of 50m or less have been categorised as an Indicated Mineral Resource. Blocks that were within approximately 25m of drilling and with an average distance to all informing composites of 50m to 90m have been categorised as Inferred. This approach has ensured that only the areas that have been drilled at an appropriate spacing have been categorised as Indicated. • The result appropriately reflects the Competent Person’s view of the deposit.
Audits or reviews	• The results of any audits or reviews of Mineral Resource estimates.	• The resource estimation has been peer reviewed by Mr Brian Wolfe, Principal Consultant of International Resource Solutions Pty Ltd. Mr Wolfe is an independent of Emerald and Competent Person for the Maiden Inferred Resource estimation announced on 21 December 2023.
Discussion of relative accuracy/ confidence	• Where appropriate, a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. • The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. • These statement of relative accuracy and confidence of the estimate should be compared with production data, where available.	• The Indicated and Inferred classification assigned locally to the estimation is considered appropriate to represent the relative accuracy and confidence. • No quantitative analysis in confidence limits has been undertaken. • The OK estimate was compared against the global change of support for the selected SMU and both are considered closely matched.

Page 23 of 23

AI assistant

EMERALD RESOURCES NL Capital/Financing Update 2024

64849_rns_2024-12-12_4770c2de-e2f6-4c6c-90e1-a6c66ae70b2c.pdf

ASX Announcement & Media Release

Fast Facts

Board & Management

Company Highlights

Gold Production

Growth

ESG

Memot Gold Project Resource Increases by 120% to 1,030,000ozs

Highlights

Emerald’s Managing Director, Morgan Hart, commented:

29 April 2022

Introduction

Recent Drill Results

Significant Intercepts (Previously announced)

Memot 2024 Resource Estimation Summary

Resource Parameters

Geology and Geological Interpretation

Potential for Eventual Economic Extraction

Mineral Resource Estimation

29 April 2022

Bulk Density

Illegal Artisanal Mining Activities

Figure 7 | Previous artisanal mining activities at the Memot Gold Project

Morgan Hart Managing Director

About Emerald Resources NL

Overview

29 April 2022

Forward Looking Statement

Competent Persons Statements

No New Information

29 April 2022

Appendix Two | JORC Code, 2012 Edition | ‘Table 1’ Report

Section 1 Sampling Techniques and Data from Drilling included in Resources

AI assistant

EMERALD RESOURCES NL — Capital/Financing Update 2024

64849_rns_2024-12-12_4770c2de-e2f6-4c6c-90e1-a6c66ae70b2c.pdf

ASX Announcement & Media Release

Fast Facts

Board & Management

Company Highlights

Gold Production

Growth

ESG

Memot Gold Project Resource Increases by 120% to 1,030,000ozs

Highlights

Emerald’s Managing Director, Morgan Hart, commented:

29 April 2022

Introduction

Recent Drill Results

Significant Intercepts (Previously announced)

Memot 2024 Resource Estimation Summary

Resource Parameters

Geology and Geological Interpretation

Potential for Eventual Economic Extraction

Mineral Resource Estimation

29 April 2022

Bulk Density

Illegal Artisanal Mining Activities

Figure 7 | Previous artisanal mining activities at the Memot Gold Project

Morgan Hart Managing Director

About Emerald Resources NL

Overview

29 April 2022

Forward Looking Statement

Competent Persons Statements

No New Information

29 April 2022

Appendix Two | JORC Code, 2012 Edition | ‘Table 1’ Report

Section 1 Sampling Techniques and Data from Drilling included in Resources

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EMERALD RESOURCES NL Capital/Financing Update 2024