EMMERSON RESOURCES LIMITED — Capital/Financing Update 2011

Mar 1, 2011

2 March 2011

==> picture [595 x 43] intentionally omitted <==

ASX Announcement ASX: ERM

ABN: 53 117 086 745

Aggressive Exploration Program for 2011 Tennant Creek Field Season

Highlights

Three Fold Strategy of:

• Implementation of new geophysical technology to define the five highest ranking, undercover greenfields projects and drill test

• Identify extensions of known mineralisation utilising proprietary geophysical technology in the brownfields environment and drill test

• Undertake a reassessment of the in-situ resources at Warrego, Gecko, Chariot, Orlando and TC8 using current metal prices and mining costs

• This ~ $7m exploration program will consist of approximately 30,000m of RC and diamond drilling; and a minimum of 2,000 line kms of new geophysical surveys

First Application of new geophysical technology

• First application of the world’s most powerful time-domain electromagnetic (TEM) geophysical system to search for gold and copper mineralisation within the company’s extensive tenement package

• Preliminary studies indicate this Helicopter born TEM system is well suited to identifying a new generation of gold – copper deposits that have remained undercover and undetected by previous exploration

• Phase 1 of the survey to commence in mid March 2011

• Survey fully funded by Ivanhoe Australia Limited as part of their $28m Farm in and Joint Venture

==> picture [595 x 43] intentionally omitted <==

Overview

Emmerson Resources Limited (ASX: ERM) remains focussed on unlocking the next generation of gold and copper deposits within its Tennant Creek project in the Northern Territory. ERM has consolidated 95% of the highly prospective Tennant Creek Mineral Field which historically has produced in excess of 5.5Mozs of gold and 470,000t of copper at average grades of 15-20g/t gold but within individual deposits, grades of up to 56g/t gold.

ERM’s exploration approach is underpinned by an ongoing investment in new geophysical data and state-of-theart processing technology, coupled with new geological concepts which are applicable to analogous IOCG provinces such as those that host the giant Olympic Dam copper-gold-uranium deposit and Prominent Hill copper-gold deposit in South Australia, as well as various others in the Cloncurry belt of Queensland and overseas.

One of the most exciting recent developments has been recognition that many of these larger gold and copper deposits in Tennant Creek may be directly targeted with electromagnetic geophysics. Furthermore, systematic testing of new ERM targets is now possible through the commercialisation of the world’s most powerful airborne time-domain electromagnetic system.

Tier 1 Targets

The 2011 exploration program will initially consist of flying the new Heli TEM system over existing Tennant Creek deposits to test its efficacy and if successful, then move onto covering ERM’s undercover Tier 1 (defined as +1moz gold equivalent) greenfields targets. This program is fully funded by the $28m Farm in and Joint Venture with Ivanhoe Australia Limited (Ivanhoe).

Tier 2 Targets

In parallel, a pipeline of tier 2 (defined as < 250,000ozs gold equivalent) brownfields projects will be drill tested commencing mid April 2011.

These projects have either historic gold or copper intersections but the full extent of mineralisation remains untested or, have been generated from ERMs proprietary geophysical processing techniques.

Whilst the exact funding mix is not expected to be finalised until late March 2011, under the terms of the Farm-In agreement with Ivanhoe, ERM can “sole fund sole risk” projects which are categorised as “likely tier 2 potential”. Given ERM’s strong cash position of $11.0 million, this is a compelling opportunity to establish a resource pipeline particularly as we have 100% ownership of the only mill in the area.

Reassessment of In Situ Resources

ERM has just awarded the contract to a well regarded external consultancy to review the in-situ resources at Warrego, Gecko, Orlando, Chariot and White Devil. This is a two phase process where the initial phase will focus on ascertaining the economics of these resources, given that there has been considerable escalation in the metal prices since these mines were closed. Phase 2 will consist of a detailed analysis that will include such considerations of upgrading the resources to JORC standards and also identifying the potential of further near mine resources.

==> picture [595 x 43] intentionally omitted <==

Commenting on the upcoming 2011 Field Season, ERM’s Managing Director and CEO, Rob Bills said “this threefold strategy is aimed to provide a balanced risk to reward portfolio and to unlock significant unrealised value for Emmerson.”

“Emmerson has gained a greater understanding of the Tennant Creek Mineral Field and we intend to continue systematic target testing until we achieve the exploration success that in time will elevate us to producer status.”

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