EMMERSON RESOURCES LIMITED - Capital/Financing Update 2013

==> picture [593 x 33] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

ASX Announcement ASX: ERM ABN: 53 117 086 745

19 March, 2013

New Sole Fund Areas Secured for Immediate Drilling

Emmerson Resources (ASX:ERM) is pleased to announce it has secured a further two “sole fund” areas from the Ivanhoe/Emmerson JV tenements. The North project in particular has a number of “walk up” drill targets that will be tested in the forthcoming drill campaign commencing early April 2013. This campaign will consist of approximately 3,500m of mainly RC drilling with assay results expected in late April 2013 and additional drilling campaigns to follow.

A reinterpretation of the North project has revealed a number of new, untested geological and geophysical targets – some in the vicinity of historical high grade gold and copper prospects (fig 1). Some of the best historical intercepts at these prospects and mines include:

6m at 133g/t gold from 77m at Edna Beryl;
7m at 170g/t gold and 0.54% copper from 164.5m at Marathon;
11m at 16.5g/t gold from 260m and 5m at 1.26% copper from 253m at Thrace; and
30.2m at 4.3% copper from 269.8m including 11.6m at 8.3% copper from 287.6m at Troy.

Figure 1: North Project: A new gold –copper province showing historical prospects and mines plus best drill hole intersections. (Background image is aeromagnetics)

All drill hole intersections and mine production figures have been sourced from internal company reports.

==> picture [491 x 274] intentionally omitted <==

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

ASX Announcement ASX: ERM ABN: 53 117 086 745

==> picture [593 x 33] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

Whilst these drill holes may not be representative of the overall grades of mineralisation, they nonetheless signal the potential for an emerging high grade gold-copper province.

The Eastern project is immediately along strike from the historical Nobles Nob mine (produced 1.11Mozs at a grade of 16.2g/t Au). Nobles Nob is one of the few known, non magnetic deposits in the Tennant Creek Mineral Field (TCMF) and would likely have remained hidden except for its surface expression. The opportunity for Emmerson is to find more of these non magnetic style deposits under cover utilising new technology and ideas, something we have already established a track record of through the recent discoveries at Goanna and Monitor.

Other drilling scheduled in this campaign consists of a deep diamond hole under GRC 1406 (ASX 13 February 2013) which was one of our thickest intersections of copper and gold (99m at 0.43% copper which includes multiple higher grade zones up to 1.7% copper). Recent 1m resplits of the previous 3m composite samples from this hole provide better definition of the emerging deeper gold zone as follows:

5m at 3.63g/t gold, 0.60 % copper and 0.28% bismuth (from ~ 350m below the surface) which includes:
2m at 5.67g/t gold, 0.35% copper and 0.31% bismuth.

As stated before, the transition from copper to gold with high grade bismuth augers well for the discovery of further gold mineralisation either in the general vicinity or at depth – keeping in mind that these intersections are approximately at the same level as the adjacent historic development of the nearby Gecko mine.

Drilling will also occur at a new project south west of Gecko where a confluence of surface ironstones, prospecting shafts and deeper, geology and geophysics suggest potential for GoannaMonitor style mineralisation. This area is within the 100% Emmerson owned, Gecko sole fund block.

Emmerson managing director, Rob Bills, said, “We have a very exciting drill program lined up for 2013 – the early part of the program will be focussed on some potential high impact targets, mainly in the new North Project sole fund block where Emmerson now has 100% of the exploration rights (subject to a clawback agreement with Ivanhoe Australia). In addition, we remain confident of extending the copper mineralisation at Goanna and defining deeper, high grade gold in what is becoming an ever expanding, footprint of mineralisation. The JV with Ivanhoe continues to add tremendous value to Emmerson shareholders as it provides a mechanism for Emmerson to explore new areas in its own right (under the sole fund/sole risk option) but also to participate with IVA and explore the more regional greenfields opportunities (funded by IVA under the remaining $10m sole fund obligation to maintain 51% in the JV tenements).

The longer term exploration program for 2013 will consist of similar activities and approach that Emmerson has successfully pioneered at Goanna and Monitor – consisting of systematic airborne electromagnetics (e.g. HeliTEM) followed by detailed ground geophysics and geology.

ASX Announcement ASX: ERM ABN: 53 117 086 745

==> picture [593 x 33] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

We are also working hard on continuing to build our resource inventory and remain on track to deliver an updated resource for the Orlando deposit (based on drilling by ERM in 2012) and also, a maiden resource for our recent discovery at Goanna (both are within 100% owned ERM sole fund blocks).

In addition, we have commenced a high level evaluation of further brownfield opportunities that offer the potential to increase our existing JORC resources.”

To build on the growth of Emmerson’s resource inventory at Tennant Creek, an independent consultant has been engaged to calculate an updated resource estimate for the Orlando goldcopper deposit and to incorporate the latest Goanna drilling results.

Emmerson aims, ultimately, to resume mining at Tennant Creek. Proximity to the existing Gecko and Orlando mine developments and ownership of the region’s only ore processing mill gives Emmerson a significant advantage.

ASX Announcement ASX: ERM ABN: 53 117 086 745

==> picture [593 x 33] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

About Tennant Creek and Emmerson Resources

The Tennant Creek Mineral Field (TCMF) is one of Australia’s most prolific gold-copper districts producing over 5.5 Mozs of gold and 470,000 tonnes of copper from a variety of deposits including Gecko, Orlando, Warrego, White Devil, Chariot and Golden Forty, all of which are within Emmerson Resources (ASX: ERM) exploration and joint venture portfolio.

Emmerson holds 3,300km[2] of ground in the TCMF, owns the only gold mill in the region and holds a substantial geological database plus extensive infrastructure and equipment. Emmerson has consolidated 95% of the highly prospective TCMF where only 8% of the historical drilling has penetrated below 150m. Emmerson Resources is exploring the TCMF both in its own right and with Ivanhoe Australia Limited pursuant to a Farm-in and Joint Venture agreement whereby Ivanhoe is sole funding $28 million in exploration to acquire and retain 51%. As part of the agreement, ERM retains the right to nominate areas of “sole fund sole risk” under which IVA retains certain clawback rights.

Emmerson is using new, high technology search techniques to explore the TCMF and in late 2011 made two high-grade discoveries, Goanna and Monitor, which are a new style of mineralisation undetected by previous explorers. The discoveries are close to the underground mine development at the historic Gecko deposit and are within the 100% owned ERM sole fund blocks.

Emmerson also continues to build and upgrade its resource inventory ahead of an eventual start of production. To date detailed analysis and additional drilling has been completed on Gecko and Orlando with resources detailed below. Further brownfields exploration will continue in 2013.

Table 1: JORC compliant resource as released to ASX on 24 October 2011

Classification	Tonnes ('000)	Gold grade (g/t)	Copper grade (%)	Gold equivalent grade (g/t)	Gold ounces (‘000)	Copper metal (t)	Gold equivalent ounces('000)

Gecko - Anomaly 3, L25 and K44 Lower (reported above a 1% copper cut-off)
Indicated Inferred	1,400 80	- -	2.5 1.6	5.2 3.2	- -	35,600 1,300	230 10
Sub-total Gecko	1,480	-	2.5	5.1	-	36,900	240
Orlando - Lenses 2 and 7 (reported above a 1.0 g/t gold equivalent cut-off)
Indicated Inferred	680 300	2.1 1.6	1.3 1.7	4.7 5.1	50 20	8,800 5,100	100 50
Sub-total Orlando	980	2	1.4	4.8	70	13,900	150
TOTAL	2,460	2*	2.1	5.0	70*	50,800	390

Grade of gold ore and quantity of gold metal reported for Orlando only

==> picture [593 x 33] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

ASX Announcement ASX: ERM ABN: 53 117 086 745

Figure 2: Tenement Map with the location of the new North and East Project.

(Background image is the ERM aeromagnetics with warm to white colours representing magnetic anomalies)

==> picture [492 x 349] intentionally omitted <==

ASX Announcement ASX: ERM ABN: 53 117 086 745

==> picture [593 x 33] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

Figure 3: East Project: Showing historical prospects and mines.

Note the apparent magnetic anomaly at Nobles Nob is from the tailings and other cultural factors.

(Background image is aeromagnetics)

Mine production figures have been sourced from internal company reports.

==> picture [482 x 352] intentionally omitted <==

==> picture [593 x 33] intentionally omitted <==

==> picture [124 x 67] intentionally omitted <==

ASX Announcement ASX: ERM ABN: 53 117 086 745

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

Released by: Mr Rob Bills Managing Director & CEO 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.

The information in this report which relates to Mineral Resources is based upon information compiled by Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Ian Glacken is an employee of Optiro Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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. Ian Glacken consents to the inclusion in the report of a summary based upon his information in the form and context in which it appears (Table 1).

AI assistant

EMMERSON RESOURCES LIMITED Capital/Financing Update 2013

64876_rns_2013-03-18_8a3f737b-1eb7-4181-aae1-b951e76bb161.pdf

New Sole Fund Areas Secured for Immediate Drilling

About Tennant Creek and Emmerson Resources

Figure 2: Tenement Map with the location of the new North and East Project.

Figure 3: East Project: Showing historical prospects and mines.

AI assistant

EMMERSON RESOURCES LIMITED — Capital/Financing Update 2013

64876_rns_2013-03-18_8a3f737b-1eb7-4181-aae1-b951e76bb161.pdf

New Sole Fund Areas Secured for Immediate Drilling

About Tennant Creek and Emmerson Resources

Figure 2: Tenement Map with the location of the new North and East Project.

Figure 3: East Project: Showing historical prospects and mines.

More from EMMERSON RESOURCES LIMITED

EMMERSON RESOURCES LIMITED Capital/Financing Update 2013