EMMERSON RESOURCES LIMITED — Capital/Financing Update 2009

Mar 23, 2009

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EMMERSON ANNOUNCE COMMENCEMENT OF THE 2009 DRILLING PROGRAM AND GEOCHEMICAL INTERCEPTS FROM THE TRINITY PROJECT, TENNANT CREEK

24 March 2009

Emmerson Resources Limited ABN 53 117 086 745

3 Kimberley Street West Leederville WA 6007

PO BOX 1573 West Perth WA 6872

Tel: (08) 9381 7838 Fax: (08) 9381 5375

Email: info@emmersonresources.com.au

HIGHLIGHTS

• Emmerson Board has approved a further $4.3m for exploration in the

• 2009 field season.

• Drilling of approximately 20,000m of Reverse Circulation (RC) and 25,000m of Rotary Air Blast (RAB) drilling will commence in April.

• Emmerson’s significant investment last year in new geophysical surveys

• and proprietary processing has resulted in a portfolio of exciting new drill targets.

• Significant geochemical anomalies have been defined at the Troika

• project which is part of the larger Trinity area. Emmerson has now received assays from RAB geochemical intercepts which include:

• 4m @ 17.5g/t Au from 32m (Troika 7)

Web:

www.emmersonresources.com.au

ASX Code: ERM 203.5 million ordinary shares 22 million unlisted options

Directors Andrew McIlwain Non-executive Chairman

Rob Bills Managing Director & CEO

Timothy Kestell Non-executive Director

Simon Andrew Non-executive Director

• 4m @ 0.26g/t Au from 36m (Troika 7)

• 4m @ 0.30g/t Au from 52m (Troika 3)

Announcement

Emmerson Resources Limited (ASX: ERM – “Emmerson”) is pleased to report that it has approved a $4.3m exploration budget for the 2009 field season. This budget will allow aggressive drill testing and advancement of existing successful projects from last year and the testing of a number of new generation iron-oxide gold targets. These new targets have been generated from a large $2m investment in gravity and high resolution aeromagnetic surveys. Various proprietary processing techniques have now been applied to these new geophysical datasets, which has revealed a number of poorly explored, new undercover target areas.

The Trinity area is one such example and consists of 14 discrete targets plus an area to the east called Troika (figures 1 & 2). As the Trinity and Troika areas are undercover, an orientation geochemical program utilising RAB drilling was undertaken to sample the subsurface geology above the discrete magnetic anomalies (figures 1 & 2).

The Troika prospects (T2 to T7) lie approximately 6km west of the Tennant Creek Township, within Perpetual Pastoral Lease 1142 and are within Emmerson’s 100% owned, Exploration Licence 24980. The prospects are located along the “Chariot” structural corridor which hosts the historic TC8, Chariot and Malbec mines, which have collectively produced 153,000 oz Au. In total, 205 RAB holes for 8,338m were drilled on a 50m by 30m grid, testing seven (T2 to T7) areas. As this program was orientation in nature, the

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resultant high gold values provide additional confidence in the quality of these new undercover targets. The next stage will include, deeper RC drilling to locate the source of the gold at and extend the RAB program across the remainder of the Trinity targets.

Yours Sincerely

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Mr. Rob Bills Managing Director and Chief Executive Officer

Released by: Nicholas Read/ Kate Bell Read Corporate Telephone: (+61-8) 9388 1474

On behalf of: Mr Rob Bills Managing Director & Chief Executive Officer Emmerson Resources Ltd Telephone: (+61-8) 9381 7838 www.emmersonresources.com.au

Competency Statement

The information in this report relating to Exploration Results and Mineral Resources is based on information compiled by Mr Steve Russell who is a Member of the Australian Institute of Geoscientists and has sufficient exploration experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Russell is a full time employee of Emmerson Resources Ltd and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. (attachment: Figures 1, 2, & 3 &Table 1).

Background – Emmerson Resources

Emmerson Resources ( ASX: ERM – “Emmerson” ) is an Australian-based gold company focused on the exploration and development of the richly-endowed Tennant Creek Mineral Field (TCMF) in the Northern Territory of Australia, where it has a dominant ground position covering some 2,700km[2] . The Company listed on the ASX in December 2007 following a successful A$20 million IPO.

Emmerson has implemented an aggressive exploration program aimed at delineating extensions to existing mineralisation in the brownfields environment and also to discover a new generation of Au-Cu deposits in the greenfields environment. The strategy is based around the application of modern and innovative exploration techniques to reactivate the world class Tennant Creek Mineral Field - a field which produced over 5.5 million ounces of gold and 470,000 tonnes of copper since its discovery in the 1930s.

The Company’s asset base also includes ownership of the only gold treatment facility in the region (the Warrego carbon-in-pulp processing plant) and a substantial geological database plus extensive infrastructure and equipment.

Emmerson is headed by a group of experienced Australian mining executives including former MIM and WMC mining executive Andrew McIlwain as Non-Executive Chairman, and former senior BHP Billiton and WMC executive Rob Bills as Managing Director and CEO.

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Table 1. Significant RAB drilling results returned from the Troika Prospect targets.

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Start (0 – 1m)
4m @ 17.5 g/t Au from 32m
TROIKA T7-
TRB195
End (53-54m)
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Emmerson RAB Rig (LH photo) and geochemically anomalous gold samples from Troika T7 target

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