EMMERSON RESOURCES LIMITED — Capital/Financing Update 2011

Apr 10, 2011

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ASX Announcement ASX: ERM

ABN: 53 117 086 745

11 April 2011

New Technology to Unlock the next Generation of Deposits in the Tennant Creek Mineral Field

Highlights

• Australia’s first application of the world’s most powerful, helicopter (HeliTEM) geophysical survey system to Emmerson Resources’ Tennant Creek project has commenced (fig 1)

• Stage 1 involves flying orientation over some of the historic gold-copper deposits such as White Devil, Orlando and Gecko

• Stage 2 will target areas prospective for large, tier 1 gold-copper deposits that lie hidden under cover

• The HeliTEM program is fully funded under the $28m Ivanhoe Australia Limited Farm-in and Joint Venture

• Drill testing of HeliTEM anomalies is planned for the 2011 field program.

Overview

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 7% of the historical drilling has penetrated below 150m. Some of the most prospective rocks in the field lie hidden beneath recent cover.

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

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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This year ERM has developed a threefold exploration strategy consisting of:

• 1. Exploration for a new generation of tier 1 (as defined in our Ivanhoe Farm-in and Joint Venture) goldcopper deposits utilising the HeliTEM to screen prospective, large, undercover targets;
• 1. Exploration for extensions to known mineralisation and/or smaller gold-copper deposits (defined as tier 2). These include an untested target immediately above the historic Warrego deposit, the largest deposit in the Tennant Creek Mineral Field and, multiple near-mine targets at Gecko and Golden Forty;
• 1. Re-evaluation of the residual mineral resources. Phase 1 of this study includes a review of the existing resources and reserves but utilising updated metal and mining costs. This has been outsourced to a reputable external consultancy. In-situ mineral resources being reassessed in this study include unmined (but mostly developed) copper orebodies at Gecko; gold resources at Warrego, Chariot, Golden Forty; mixed gold-copper at Orlando and undeveloped copper resources at TC8.

Whilst results of stage 1 of the HeliTEM program are pending, detailed analysis of drill core from many of the major deposits within the ERM tenements suggest that the conductivity of the ironstones (either magnetite or hematite) which contain the mineralisation is many times above the background conductivity of the surrounding host rocks (fig 2). Furthermore, when the ironstones also contain sulphides such as chalcopyrite, conductivities are greatly magnified and in the case of the measurements from the Gecko mine, up to 80 times the background.

The HeliTEM system is not only the world’s most powerful helicopter supported time-domain electromagnetic system, but has a unique low noise receiver to ensure great depth penetration. Moreover its commercialisation on a helicopter platform has, for the first time, provided a cost effective and efficient means of screening ERM’s undercover targets with state-of-the-art detection technology.

Providing the iron-oxide and sulphide-gold bodies are of sufficient size, the HeliTEM survey has the potential to greatly assist in more directly locating mineralisation and identifying tier 1 drill targets.

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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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] . 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%.

Emmerson has implemented an aggressive exploration program aimed at discovering a new generation of AuCu deposits. 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 1930’s.

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 ian@collinsstreetmedia.com.au

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

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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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 (attachments Figure 1, 2)

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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Figure 1: Fugro HeliTEM system in action

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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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Figure 2: Drill Core Conductivity Contrast between Barren Host Rocks and Altered/Mineralised Ironstones. Note 80 times contrast from mineralised magnetite ironstones

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