EMERALD RESOURCES NL — Earnings Release 2024

Jan 7, 2024

ASX Announcement & Media Release

8 January 2024

ASX Code: EMR Shares on issue: 624,186,396 Market Cap: ~A$1.87 billion Cash: A$115.6m (US$79.0m) (31 Dec 2023) Bullion: A$22.2m (US$15.2m) (31 Dec 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 and Company Secretary Bernie Cleary, Operations Manager Shannon Campbell, Chief Financial Officer

==> picture [195 x 46] intentionally omitted <==

Okvau Delivers Another Impressive Quarter Quarterly Gold Production – December 2023

The Board of Emerald Resources NL (ASX: EMR or Company) is pleased to announce the results of another impressive Quarter of production in which 29,184 ounces of gold were produced at the Company’s 100% owned Okvau Gold Mine in Cambodia (Okvau). This follows on from the successful September 2023 Quarter which sees Emerald remaining on track to meet FY2024 production guidance.

Highlights

• Okvau’s production for the December 2023 Quarter of 29,184 ounces with gold poured of 30,425 ounces

• December 2023 Quarterly production result is at the upper end of guidance of 25koz - 30koz per quarter

• Emerald has now poured over 9,000kgs of gold doré from its Okvau Gold Mine

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:

• Okvau Gold Mine reserve expansion;

• Memot Project maiden open pit inferred resource of 8MT @ 1.84g/t Au for 470koz

• 1,639km[2] of prospective tenure

• Significant exploration and resource growth potential in Australia (Bullseye Mining Limited ~77%):

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

• Resource and reserve expected early 2024

• o 1,200km[2] of prospective tenure

ESG

• Focussed on a net positive impact on nearmine 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

• Gold sales for the December 2023 Quarter of 30,447 ounces at an average of US$1,983/oz

• Cash and bullion holdings increased to A$137.8 million (US$94.2 million) at the end of the December Quarter (Sept 2023: A$109.0 million)

• Indicative AISC for the December 2023 Quarter remains in line with previously disclosed guidance

• A comprehensive update of operations and exploration activities will be provided in the December 2023 Quarterly Report to be released later this month

Okvau Gold Mine Gold Pour

==> picture [263 x 260] intentionally omitted <==

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

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

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 over 9,000kgs of gold doré from its operations.

Emerald also holds a number of other projects in Cambodia 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 1,639km².

Emerald has a controlling interest in Bullseye Mining Limited (~77%), an unlisted Australian public company with two Western Australian gold projects totalling in excess of 1,200km² of highly prospective gold tenure including the North Laverton Gold Project which covers in excess of 800km² of 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, Regis Resources Ltd.

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

This document should be read in conjunction with Emerald’s other periodic and continuous disclosure announcements lodged with the ASX, which will be available on Emerald’s website.

This document contains information extracted from the following ASX market announcements:

• Quarterly Activities Report dated 28 April 2017;

• Quarterly Activities Report dated 26 July 2017;

• Quarterly Activities Report dated 29 January 2021;

• Exploration Results Continue to Demonstrate Strong Potential dated 29 July 2022;

• Significant Gold Exploration Results at Okvau and Bullseye dated 7 October 2022

• Significant Gold Exploration Results at Bullseye and Memot dated 31 January 2023;

• Significant Exploration Results Continue at EMR Prospects dated 28 April 2023;

• Significant Exploration Results Continue at EMR Prospects dated 4 July 2023;

• Okvau Mineral Resource and Ore Reserve Update dated 31 August 2023;

• Significant Exploration Results Continue at EMR Prospects dated 30 October 2023;

• Quarterly Report dated 31 October 2023;

• Maiden Memot Gold Project Resource Statement dated 21 December 2023.

The Company confirms that it is not aware of any new information as at the date of this announcement that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates in the Company’s previous announcements continue to apply and have not material changed.

Page 2 of 2