EMMERSON RESOURCES LIMITED — Capital/Financing Update 2012

Feb 14, 2012

ASX Announcement ASX: ERM ABN: 53 117 086 745

15 February, 2012

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Game Changing Drilling Program Commences at Tennant Creek

• Accelerated $10 million drilling program has commenced in the Tennant Creek Mineral Field

• Initial drilling to test the potential for deeper bonanza gold mineralisation at Goanna and Monitor, as indicated by the very high and consistent bismuth grades intercepted to date

• Secondary drilling to test for extensions to the high grade copper zone discovered at Goanna and Monitor and then move onto new regional targets

• The aggressive, 30,000 metre drilling program for 2012, combined with new geophysical and geological concepts is designed to unlock the next generation of Tennant Creek discoveries

Emmerson Resources Limited (ASX: ERM) is pleased to announce that a major new drilling program, designed to unlock a new generation of copper/gold deposits at the Tennant Creek Mineral Field, has commenced. Last year Emmerson made two significant discoveries at Goanna and Monitor and aims to build on this in the 2012 field season with a very aggressive exploration program and expenditure.

Emmerson Managing Director, Rob Bills, said, “ This new drilling program, starting earlier in the season than ever before, has the potential to be a game changer for Emmerson.

The geophysical and geological work we have completed over the past few years, combined with the recent string of drilling success based on the HeliTEM airborne survey completed in 2011, positions the company with what we believe is an unprecedented understanding of the copper/gold mineralisation in the well endowed Tennant Creek Mineral Field.

We are aiming to replicate our 2011 success and the 2012 drilling program is shaping up as the most important in the company’s history .”

Drilling Program for 2012 ‐ Overview

This new round of drilling will initially extend several previously drilled RC holes that, due to the depth limitations of the 2011 drill rig, did not test the potential for deeper gold mineralisation. The first diamond hole to be drilled will be an extension to RC drill hole, GRC1372 (Goanna) which terminated in mineralized ironstone within the interpreted central shear zone.

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A further rig (RC) will commence in early March (contingent on the Northern Territory wet season) and will test for extensions to the high grade copper zone discovered at Goanna and Monitor and then move onto new regional targets.

The aggressive 2012 drilling campaign is planned to consist of approximately 30,000m of drilling at a cost of approximately $10 million. With this drilling program and the application of new geophysical and geological concepts, Emmerson is confident it will be able to unlock the next generation of commercial gold‐copper deposits within the Tennant Creek Mineral Field.

Funding for these programs will come from a mix of the $28m Farm‐in and Joint Venture with Ivanhoe Australia and also from the strong free cash position of Emmerson Resources (approximately $12 million as at 31 January 2012).

Media Enquiries: Released by: Ian Howarth Mr Rob Bills Collins Street Media Managing Director & Chief Executive Officer Ph: (+61‐3) 9223 2465 Emmerson Resources Ltd ian@collinsstreetmedia.com.au Telephone: (+61‐8) 9381 7838 www.emmersonresources.com.au

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About Emmerson Resources

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

This year ERM will continue to build on its discoveries at both Monitor and Goanna with the drill testing of some exciting new HeliTEM targets in the regional greenfields environment. The exploration program will be split between further drilling within the 100% ERM sole fund blocks and regional exploration in the Joint Venture area, funded as part of the $28m Ivanhoe JV.