EMERALD RESOURCES NL — Capital/Financing Update 2026

May 5, 2026

ASX Announcement & Media Release

6 May 2026

EMERALD RESOURCES NL

Fast Facts

ASX Goals: EMR

Shares on issue: 660.775.844

Market Cap: -A$1.88

Cash, Billion & Loted Investments (Mar26)

Cash: A$337.8M (US$231.2M)

Billion: A$39.2M (US$26.8M)

Listed investments: A$22.3M (US$15.3M)

Board & Management

Jay Hughes, Non Executive Chairman

Morgan Hart, Managing Director

Mick Evans, Executive Director

Bass Stanley, Non-Executive Director

Billie Slott, Non-Executive Director

Michael Bowen, Non-Executive Director

Josh Redmond, Chief Operating Officer

Mark Clements, Company Secretary

Bernie Cleary, Operations Manager Cambodia

Brett Domaschio, 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;
• ~495Koz gold produced project to date

Growth

• Significant exploration and resource growth potential in Cambodia
• Okvau Gold Mine reserve expansion;
• Memot Project (100%) open pit indicated and inferred resource of 45.0M @ 1.1grt Au for 1.7Moz
• 1.085km² of prospective tenure
• Significant exploration and resource growth potential in Australia
• Dingo Range Gold Project located on the underexplored Dingo Range greenstone belt
• Dingo Range open pit measured, indicated and inferred resource of 46.9M @ 1.1grt Au for 1.4Moz
• 1.110km² of prospective tenure

SSG

• Focussed on a net positive impact on near-mine environmental and social values by targeting strict compliance with corporate governance, international guidelines (IEC 85'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 8243 0032

W: www.emeraldresources.com.au

Works Approval Granted for Dingo Range Gold Project

• Commitment to Purchase Long Lead Capital Equipment

Emerald Resources NL (ASX: EMR) ("Emerald" or "Company") advises that Works Approval for the Company's 100% owned Dingo Range Gold Project has been granted by the Western Australian Government's Department of Water and Environmental Regulation.

This is the final regulatory approval required for the Project, with Dingo Range now clear to commence works development.

The granted Works Approval covers the Project's processing plant, power station, tailings storage facility and other ancillary infrastructure associated with enabling gold production to commence once development, which is to be entirely internally funded, is completed.

Emerald has completed and commissioned the Project's camp which will house construction personnel and operational staff on commencement of production.

Drilling programs are to continue throughout 2026 to support mineral resource updates, focusing on open pit extensions and underground development potential and work supporting a Maiden Ore Reserve is advanced.

Emerald has also committed to the purchase of two 8,000kW Metso SAG Mills – one for Dingo Range and another for the 100% owned Memot Gold Project in Cambodia, along with a crushing circuit for Dingo Range, at a total cost of circa A$30M, demonstrating the Company's confidence in the development of both projects.

The SAG Mills are expected to be supplied in circa 12-13 months and represent the key long lead capital item that dictates the timing of first gold from both projects, which are fully licenced and funded for development.

Emerald's Managing Director Morgan Hart said

"Emerald is pleased that the Works Approval has been granted for Dingo Range and we are now fully permitted for development and operations which is a significant milestone for the Company.

"The commitment to purchase long lead capital equipment is the second key construction and infrastructure milestone at Dingo Range following the completion of the camp.

"The Board and Management of Emerald have worked closely with the team at Metso on previous development projects, including the 100% Okvau Gold Mine and are very pleased to continue the relationship on the development of the Dingo Range and Memot Gold Projects. Securing this long lead capital equipment on a very competitive delivery schedule assists with de-risking the development timeline for both projects and is an important step in the Company's growth trajectory to achieve its strategic objective of becoming a multi-mine 300K-400Kozs gold producer across two continents."

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

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EMERALD RESOURCES NL

Forward Looking Statement

Certain statements contained in this document, including information as to the future financial or operating performance of the Company and its projects, are forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Forward looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Given these uncertainties, recipients are cautioned to not place undue reliance on any forward looking statement. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements in this document to reflect any change in expectations in relation to any forward looking statements or any change in events, conditions or circumstances on which any such statement is based.

No New Information

To the extent that 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 change.

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