EMMERSON RESOURCES LIMITED — Capital/Financing Update 2010

Apr 18, 2010

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ASX Announcement

ASX: ERM

ABN: 53 117 086 745

19 April 2010

Emmerson Launches Landmark 2010 Drilling Program

Key Points:

• Aggressive program of up to 40,000m of drilling planned during 2010 at Tennant Creek (NT)

• • Focus on multiple existing and new undercover Tier 1 targets (+1.0Moz Gold Equivalent)

Emmerson Resources Limited (ASX: ERM – Emmerson) is pleased to announce the commencement of its 2010 drilling program in the Tennant Creek Mineral Field (“TCMF”) in the Northern Territory, marking one of the largest and most significant drilling campaigns in the region’s history.

Emmerson is aiming to undertake a very aggressive 40,000m drilling program over the course of the 2010 field season , all of which will be focused on a broad range of exciting undercover Tier 1 projects developed over the past two years (defined as having the potential for +1.0Moz gold equivalent ).

This includes a balance of more advanced projects (such as Pinnacles North , Rising Star , Tinto and Voltan ) and some exciting new early stage areas that have been generated from the refinement of geological concepts and processing technologies over the northern wet season.

Exploration continues to be funded by Ivanhoe Australia Limited as part of an $18.0 million, 3-year Farm-In Joint Venture established last year. Under this Joint Venture, Ivanhoe can earn a 51% interest in the majority of Emmerson’s Tennant Creek tenement package ( see ASX Announcement of 16th April 2009 ). The 2010 drilling program is being launched in three key stages:

• RAB (rotary air blast) drilling has already commenced at the Tier 1 Voltan project, which forms part of the larger Northern Project Area in the Company’s tenement portfolio in the Tennant Creek Mineral Field (see Figures 1 & 2).

• RC (Reverse Circulation) drilling is scheduled to commence on 21 April (weather permitting), also at the Voltan Project before moving to the Tinto Project . This drilling will comprise both pre-collars and target testing.

• Diamond Drilling is scheduled to commence on May 16 at the Pinnacles North project, then move on to Voltan , Tinto and Rising Star . It will then test a number of other Tier 1 projects identified from an enhanced understanding of the geology and geophysics derived from last year’s drilling campaign, as well as from additional gravity and electrical geophysics collected this year.

Emmerson Resources Limited 3 Kimberley Street, West Leederville, Western Australia, 6007 PO Box 1573, West Perth, Western Australia, 6872 Telephone: (+61 8) 9381 7838 Facsimile: (+61 8) 9381 5375 Email: info@emmersonresources.com.au Website: www.emmersonresources.com.au

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– RAB Drilling Initial 25,000m Program

An initial program of 8,500m of RAB drilling is underway at the Voltan target after some delays due to heavy seasonal rains, with approximately 7,000m completed to date. This program is designed to in-fill and extend multi-element (plus gold) RAB geochemistry identified in the Company’s initial reconnaissance geochemical drilling in this area in December 2009 ( see Figure 2 ).

The drilling is expected to be completed within the week and results should be available in early May 2010.

Once this program is complete, a 5,500m RAB program will commence at Pinnacles North (Southern Project Area), where Emmerson has so far tested only a small portion of a very large (2km x 800m) system. This drilling is aimed at detecting leakage of metals (gold, copper, bismuth and silver) in the sub-surface above untested gravity and magnetic anomalies.

After this, the RAB rig will undertake a 2,000m program at Tinto (Southern Project Area) to follow up anomalous historic geochemistry and test for leakage of metals and shallow hematite ironstone (a potential host to supergene gold mineralisation).

On completion of the Tinto drilling the RAB rig will target six recently defined undercover reconnaissance targets within the central part of the Tennant Creek Mineral Field, known as the Red Bluff area ( see Figure 1 ).

First Phase of RC & Diamond Drilling

RC drilling is scheduled to commence on Wednesday 21 April in advance of the diamond rig, which is confirmed for 16 May 2010.

The Pinnacles North drilling campaign is still being finalised pending the processing of new geophysical data. However, given the very positive results from last year and the off hole magnetic anomaly (potential near miss scenario) detected late last season in PNDD026, this program is of obvious significance and will be announced shortly.

At Voltan , two stratigraphic diamond and three RC drill holes have been designed to provide geological context to the exciting geochemical anomalies ( see Figure 2 ). Approximately 750 metres of RC and RC pre-collar’s are planned after which the rig will move to the Tinto target where approximately 1,000m of RC and RC pre-collars are designed ahead of the commencement of diamond drilling.

Emmerson currently has two geophysical crews collecting ground gravity and induced polarisation (IP) data over several key prospects including Pinnacles North, Voltan and Rising Star. These surveys are expected to be completed within the next two weeks and will guide the deeper diamond drilling programs.

ENDS

Emmerson Resources Limited 3 Kimberley Street, West Leederville, Western Australia, 6007 PO Box 1573, West Perth, Western Australia, 6872 Telephone: (+61 8) 9381 7838 Facsimile: (+61 8) 9381 5375 Email: info@emmersonresources.com.au Website: www.emmersonresources.com.au

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Media Enquiries: Released by: Nicholas Read Mr Rob Bills Read Corporate Managing Director & Chief Executive Officer Telephone: (+61-8) 9388 1474 Emmerson Resources Ltd Telephone: (+61-8) 9381 7838 www.emmersonresources.com.au

Competency Statement

The information in this report relating to Exploration Results 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. Mr Russell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears ( Figures 1, 2 and 2a)

Emmerson Resources Limited 3 Kimberley Street, West Leederville, Western Australia, 6007 PO Box 1573, West Perth, Western Australia, 6872 Telephone: (+61 8) 9381 7838 Facsimile: (+61 8) 9381 5375 Email: info@emmersonresources.com.au Website: www.emmersonresources.com.au

Figure 1 Activity Location Plan

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Figure 2: Voltan target area highlighting well defined N-S residual bouguer gravity ridge, previous company drilling and Emmerson’s 2009 & recent 2010 drilling.

Figure 2a: Voltan target area highlighting well defined N-S best in hole Cu anomalies returned from Emmerson’s 2009 RAB drilling.

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Golden Slipper Mine
INSET
North
RAB Assay ‐ Max Cu ppm North
Anomaly A
Golden Slipper Mine
INSET
Anomaly B
8m @ 0.56 g/t Au & 0.11% Cu
Anomaly C
Stratigraphic RC
& Diamond drill hole
positions
Previous company drilling Em merson Resources Limited 2010 infill & extensional
2009 Emmerson RAB drilling 3 Kimberley Street, West Leederville, Western Australia, 6007 RAB drill lines
PO Box 1573, West Perth, Western Australia, 6872
1 km 2010 Emmerson RAB drilling Telephone: (+61 8) 9381 7838 Facsimile: (+61 8) 9381 5375 1 km
2010 Stratigraphic drilling Email: info@emmersonresources.com.au Website: www.emmersonresources.com.au
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