EMMERSON RESOURCES LIMITED - Capital/Financing Update 2011

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ASX Announcement

ASX: ERM ABN: 53 117 086 745

8 July 2011

Drillin of HeliTEM Anomalies Now Underwa g y

Highlights

Application of powerful HeliTEM geophysics provides new insights into the Emmerson Resources Tennant Creek gold-copper project
Successful “proof of concept” from HeliTEM anomalies that correspond to known mineralisation at the Gecko and Orlando deposits
Exciting new drill targets in both the near mine and greenfields environments
An initial 5,000m Reverse Circulation drilling program is underway
A Diamond drill rig will commence a minimum 2,000m program in mid July

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: [email protected] Website: www.emmersonresources.com.au

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Earlier this year Emmerson flew the world’s most powerful helicopter geophysical survey (HeliTEM) over 5 discrete blocks, 2 of which host some of the major historic producers within the Tennant Creek Mineral Field (TCMF). We are now pleased to report that the first data back from block 1 (the Gecko – Orlando block) has provided “proof of concept” in confirming that these historic deposits have associated HeliTEM conductors, consistent with the earlier studies on drill core which established that in the case of Gecko, the copper-gold mineralisation was many times more conductive than the background rocks.

Of particular interest is that the HeliTEM survey highlighted potential extensions to the productive corridors at both Gecko and Orlando, which may indicate the mineralised trends extend well outside that defined by the magnetic surveys (fig 1). Based on this new data, a number of new drill targets have been defined within the near mine and greenfields environments, with the latter outside of the known mineralised corridors.

The near mine targets were generated in 3D by integrating a number of datasets such as selecting the most conductive and continuous of the HeliTEM anomalies; reconstituting the historic drill database, the gravity and magnetic surveys and where available reconstruction of the historic geological cross sections and geochemistry. Ground based Fixed Loop Electro Magnetics (FLEM) and Induced Polarisation (IP) geophysical surveys were also conducted over a select number of the HeliTEM anomalies to better refine the targets ahead of drilling.

Near mine opportunities identified by this process include the Gecko ESE and 4N targets (see fig 2), and the Orlando Deeps targets. Based on best available mine records, it is believed the Orlando Deeps targets are immediately down plunge of the historic underground workings (see fig 3)

The greenfields targets of Gecko North and NE occur along a prominent, reactivated fault zone (Quartz Hill Fault) and given they are not associated with magnetic anomalies, may represent a new style of mineralisation (fig 1, 2). Similarly for the greenfields targets at Orlando, both the Orlando South and SE targets occur along a sub parallel structure to the Orlando Mine corridor and unlike the typical geophysical signature of the historic Tennant Creek deposits, have subdued magnetic responses (fig 3). Conversely, the Pigale target is associated with a discrete magnetic anomaly that has limited historic drilling, with the best intercept being 7.7m @ 8.0 g/t Au, 2.7% Cu and 0.2% Bi from 184.3m (fig 3).

Over the course of the next few months, drilling will firstly focus on testing those “near mine” areas where there is good geological understanding, before moving out to the less known greenfields targets.

An initial 5,000m Reverse Circulation drilling program is now underway and a 2,000m diamond drilling program is scheduled to commence in mid July. This drilling will be sole funded by Emmerson Resources as provide for in the Farm In and Joint Venture agreement, with Ivanhoe retaining earn in rights to the projects. Whilst this is an exciting period for ERM, it is only the start of a much larger program involving screening the HeliTEM anomalies in the remaining 4 blocks against all of our other datasets, this work continues to be funded by Ivanhoe.

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ABOUT TENNANT CREEK

The Tennant Creek mineral field has produced over 5.5 Mozs of gold and 470,000 tonnes of copper, being one of the highest grade goldfields in Australia. Emmerson Resources (ERM) has consolidated 95% of this highly prospective mineral field where only 8% of the historical drilling has penetrated below 150m. Some of the most prospective rocks in the field lie hidden beneath recent cover.

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ABOUT EMMERSON RESOURCES

Emmerson Resources ( ASX: ERM – “Emmerson” ) is an Australian-based gold company and was floated on the ASX in December 2007. It is 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] .

ERM’s exploration approach is underpinned by an ongoing investment in new geophysical technology and state-of–the art processing, coupled with new geological concepts which are applicable to exploring beneath the cover and unlocking the next generation of gold-copper deposits.

Emmerson is progressing exploration on the TCMF in Joint Venture with Ivanhoe Australia Limited pursuant to a Farm-in agreement whereby Ivanhoe is sole funding $28 million exploration to acquire and retain 51%.

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.

Media Enquiries: Ian Howarth Collins Street Media Ph: (+61-3) 9223 2465 [email protected]

Released by: 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 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 3)

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----- Start of picture text ----- Appendix:Figures 1, 2, 3----- End of picture text -----

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Figure 1: Isometric view of select HeliTEM anomalies beneath the surface (red/yellow/green colours depicting the relative conductivities of the HeliTEM anomalies above the magnetics)

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Figure 2: Isometric view of select HeliTEM anomalies at Gecko beneath the surface (red/yellow/green colours depicting the relative conductivities of the HeliTEM anomalies above the magnetics)

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Figure 3: Isometric view of select HeliTEM anomalies at Orlando beneath the surface (red/yellow/green colours depicting the relative conductivities of the HeliTEM anomalies above the magnetics)

AI assistant

EMMERSON RESOURCES LIMITED Capital/Financing Update 2011

64876_rns_2011-07-07_706a1b3d-2feb-44dc-bd31-75da006c1ba6.pdf

ASX Announcement

Drillin of HeliTEM Anomalies Now Underwa g y

Highlights

ABOUT TENNANT CREEK

ABOUT EMMERSON RESOURCES

Competency Statement

AI assistant

EMMERSON RESOURCES LIMITED — Capital/Financing Update 2011

64876_rns_2011-07-07_706a1b3d-2feb-44dc-bd31-75da006c1ba6.pdf

ASX Announcement

Drillin of HeliTEM Anomalies Now Underwa g y

Highlights

ABOUT TENNANT CREEK

ABOUT EMMERSON RESOURCES

Competency Statement

More from EMMERSON RESOURCES LIMITED

EMMERSON RESOURCES LIMITED Capital/Financing Update 2011