EMMERSON RESOURCES LIMITED — Capital/Financing Update 2017

Jun 19, 2017

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ASX Announcement ASX: ERM ABN: 53 117 086 745

20 June 2017

Drilling Underway on New Edna Beryl Targets

• 6,700m drill program underway at the Edna Beryl project

• Ultra-high-resolution ground gravity surveys have revealed:

• Likely extensions to the ironstones that host the high grade bonanza gold mineralisation at Edna Beryl

• Untested Edna Beryl “look alike” targets immediately to the north

• Potential to discover a new generation of hematite hosted gold deposits

• High grade gold and bismuth results along strike from newly defined gravity targets that includes:

• 2m at 81.5g/t gold incl. 1m at 161g/t gold (from 260m) at Thrace

• 7g/t gold and 2.3% bismuth rock chips at Carraman

Emmerson Resources Limited (“Emmerson” ASX: ERM) is pleased to announce the commencement of a reverse circulation and diamond drill program at its 100% owned Tennant Creek project in the Northern Territory (fig 1). These drill targets were generated from the application of an ultra-high resolution ground gravity survey completed earlier this year. This survey was trialled over the known high grade gold, Edna Beryl mineralisation that is hosted in a series of subparallel hematite ironstones. Following the success in delineating these ironstones and highlighting possible extensions to the west, the survey was extended to encompass additional structural targets (fig 2). This revealed a new target, some 400m north of Edna Beryl and between the Macedon and Carraman prospects – both will be drilled in this campaign (green dots, figure 2).

Based on the success of last year’s drilling within the immediate Edna Beryl mineralisation (ASX: 30 January 2017), further drill holes are planned to test the continuity of the ironstones and chlorite alteration some 350m below the surface (figures 2&3).

2017 Exploration Program

• First campaign of 6,700m of drilling confined to the Edna Beryl project area – aimed at near mine and new regional greenfields targets.

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• If drilling is successful in verifying additional hematite ironstones (the host to the high grade gold), further high resolution gravity surveys will be deployed over a range of similar structural/geological targets.

• Exploration is now well underway in NSW with detailed high-resolution magnetic surveys completed over the EL’s 8463 (Wellington), 8465 (Temora), 8464 (Fifield) and the Kadungle area (JV with Aurelia Metals). The first drill hole at Kadungle (by Emmerson) has intersected mineralisation (ASX:30 May 2017), with assay results pending.

About Tennant Creek and Emmerson Resources

Emmerson is a leading gold and copper gold explorer with projects in the Northern Territory and New South Wales and is led by a board and management group of experienced Australian mining executives including former MIM and WMC mining executive Andrew McIlwain (non-executive chairman), and former senior BHP Billiton and WMC executive Rob Bills (Managing Director and CEO).

The Northern Territory projects are centred around the Tennant Creek Mineral Field (TCMF), which is one of Australia’s highest grade gold and copper fields producing >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’s track record of discovery includes copper and gold mineralisation at Goanna, Monitor, Mauretania and more recently, the discovery of very high-grade gold at Edna Beryl - the first discoveries in the TCMF for over a decade.

Emmerson holds 2,500 km[2] of ground in the TCMF, owns the only gold mill in the region and is in the process of monetising a pipeline of small high-grade exploration targets via a Tribute Agreement with a specialised small mines company. The first of these small mines will be at Edna Beryl, with production to commence in 2017.

Exploration in the TCMF is funded via a Farm-in agreement with Evolution Mining Limited (EVN), where EVN is sole funding exploration expenditure of $15 million by 31 December 2017 to earn a 65% interest (Stage 1 Farmin). EVN then has a further option to sole fund a further $10 million over two years to earn an additional 10% (Stage 2 Farm-in). Emmerson is the operator and manager during the Stage 1 Farm-in.

Emmerson has recently commenced exploration on new gold-copper projects in NSW, identified (with our strategic alliance partner Kenex Limited) from the application of “big multiple independent datasets” – aimed at increasing the probability of discovery through enhanced predictive capability (particularly important in covered terrains). The highly prospective Macquarie Arc hosts >80Mozs gold and >13Mt copper but with these resources heavily weighted to areas of outcrop or limited cover. Emmerson’s five exploration projects cover some 1,500 km[2] of Macquarie Arc rocks and contain many attributes of the known deposits but remain under explored due to historical impediments, including overlying cover (plus farm lands) and a lack of exploration focus. Kadungle is an option (and potential JV) with Aurelia Metals covering 43km[2] adjacent to Emmerson’s Fifield project.

About Evolution Mining

Evolution Mining is a leading, growth-focussed Australian gold miner. Evolution operates six wholly-owned mines – Cowal in New South Wales; Mt Carlton, Mt Rawdon, and Cracow, in Queensland; and Mungari and Edna May in Western Australia. In addition, Evolution holds an economic interest in the Ernest Henry copper-gold mine that will deliver 100% of future gold and 30% of future copper and silver produced from an agreed life of mine area.

Outside of the life of mine area Evolution will have a 49% interest in future copper, gold and silver production. In FY16 Evolution produced 803,476 ounces of gold at an AISC of A$1,014 per ounce generating an operating cash flow of A$628.4 million.

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As a result of the acquisition of an economic interest in Ernest Henry in November 2016, Evolution revised its FY17 Group gold production guidance to 800,000 – 860,000 ounces at an AISC of A$900 – A$960 per ounce.

Regulatory Information

The Company does not suggest that economic mineralisation is contained in the untested areas, the information contained relating to historical drilling records have been compiled, reviewed and verified as best as the Company was able. The Company is planning further drilling programs to understand the geology, structure and potential of the untested areas below current mineralisation. The Company cautions investors against using this announcement solely as a basis for investment decisions without regard for this disclaimer.

Competency Statement

The information in this report which relates to Exploration Results is based on information compiled by Mr Steve Russell BSc, Applied Geology (Hons), MAIG, MSEG. Mr Russell is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition and the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Russell is a full-time employee of the Company and consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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~~Figure 1: Location of Emmerson’s tenement package (light blue) and the Edna Beryl Project Area~~

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Figure 2 : Edna Beryl gravity survey showing dense rocks (red) and proposed drill hole collars (green dots= new regional targets, white dots= Edna Beryl down plunge targets).

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Figure 3 : Schematic N-S cross section through the Edna Beryl Mine area and the new gravity anomaly (between Carraman and Macedon). Note trace of proposed ~~drill holes to test for down plunge “near mine extensions” (white dot) and new green fields targets (green dots).~~

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Table 1: Assay results from rock chips samples collected at the Carraman mine area, Edna Beryl exploration target area.

Sample ID	East (MGA94_53)	North (MGA94_53)	RL AHD	Au (g/t)	Ag (g/t)	Bi (ppm)	Cu (ppm)	Fe (%)	Pb (ppm)	Zn (ppm)	Mo (ppm)	Sb (ppm)	Sample **Type **	Sample Geology
95291	416899.17	7865463.51	334	0.04	0.86	445	128	25.9	62.3	13.0	85.1	14.6	Rock	Hematite Rock
95292	416898.74	7865467.71	333	1.79	1.44	1.36%	219	26.6	572	10.0	56.7	25.5	Rock	Hematite Rock and Shale
95293	416883.05	7865450.71	333	0.73	3.93	2.31%	368	21.2	1681	4.0	78.3	26.4	Rock	Sheared Hematite Rock
95294	416875.50	7865448.90	325	6.96	6.93	1.57%	153	27.1	664	4.0	32.0	29.1	Rock	Sheared Hematite Rock

Table 2: Significant intersections from the Thrace and Macedon prospects within the Edna Beryl District. Both these holes were drilled by Giants Reef Mining

Hole ID	East (MGA94_53)	North (MGA94_53)	RL AHD	Dip (deg)	Azi (mag)	From (m)	To (m)	Width (m)	Au (g/t)	Bi (ppm)	Cu (%)	Fe (%)	Date Drilled	Drill **Type **	Intersection Geology
MCR004	416154.09	7865283.13	297.8	-63	173.0	167	176	9	0.08	781	0.96	47.7	Aug, 2000	RC	Chalcopyrite rich magnetite ironstone
					Incl.	170	174	4	0.05	713	1.41	45.2
THRD002	415860.19	786560.23	298.8	-64.4	170.8	253	257	4	0.21	737	1.38	17.2	Aug, 2000	½ NQ2	Hematite Ironstone
						259	261	2	81.5	533	0.20	16.3			Carbonate Alteration Zone
					Incl.	260	261	1	161	650	0.05	15.5			Chlorite Rock

Note:

• (1) THRD002 results are ½ diamond core samples.

• (2) MCR002 results are reverse circulation 5[1/4 ] drill chip samples

• (3) Gold analysis method by 50g fire assay with ICP-OES finish.

• (4) Multi element analysis method by 4 acid digest & ICP-OES, ICP-MS finish.

• (5) Intersections are reported as downhole lengths and not true width.

• (6) Minimum cut-off of 1 g/t Au. No maximum cut-off.

• (7) Minimum cut-off of 0.5% Cu. No maximum cut-off.

• (8) Maximum of 2m internal dilution.

• (9) ½ NQ[2 ] represents Diamond Drill core sawn in half.

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SECTION 1 SAMPLING TECHNIQUES AND DATA–EDNA BERYL EXPLORATION TARGET

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• Rock chip samples collected from the Carraman mine area were collected as part of a broader mapping project conducted in February 2017. • Outcropping rock samples were collected in the field. • Limited outcrop occurs within the mapping area and are likely to be biased towards outcrop around previous / historical mining activity. • The gravity survey reported in the accompanying ASX release was conducted by Daishsat Geodetic Surveyors, Report Number 16029. • The survey as completed during March, 2017. • THRD002 was sampled via NQ2 diamond drilling (1/2 core). Drilling company was Stanley Drilling for Giants Reef Mining (GRM). • MCR004 was sampled via 1m 5/1/4RC face sampling hammer. • Sampling was carried out under GRM standard protocols which have been reviewed by the Competent Person and are of industry standard for that period (2000). • Caution must be taken when assessing the reported gold and copper intersections from MCR004 & THRD002. Original assay sheets confirm the nature and tenor of mineralisation however it is not apparent that GRM had a strict QAQC protocol.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what _method, etc). _	• NQ2diamond drilling (THRD002) • 5/1/4RC face sampling hammer (MCR004)
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• Diamond core recovery was recorded on GRM recovery sheets. Recoveries from THRD002 are considered good. • RC sample recovery (MCR004) has been recorded on GRM paper geological logs and is considered to be good to very good. • There is no bias noted between sample recovery and grade. Good recoveries are recorded for both holes.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or _costean, channel, etc) photography. _	• Standard operating procedures are employed by Emmerson for logging rock chip samples. • Rock chip samples are lithologically logged in the field. • The logging is qualitative lithology, oxidation & alteration. • THRD002 and MCR004 have both been geologically logged in full by GRM geologists. • Logs have been reviewed and checked against diamond core by Emmerson geologists for consistency and correctness. No issues were discovered.

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Criteria	JORC Code explanation	Commentary
	• The total length and percentage of the relevant intersections logged.	• RC chips from MCR004 have been recovered from a storage shed however the chip trays are in poor condition. • Logging is considered to be quantitative in nature.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• Samples were hammered off outcrops using a rock hammer. Sample weight was approximately 1-3kgs. • These samples are considered point samples and may be biased towards mineralised examples (ironstone). • The size of the samples is considered appropriate for this type of work. • The gravity survey was achieved using a two man walking team. • A scintrex CG-5 Autograv gravity meter was used exclusively for field acquisition. • 1,911 new gravity stations were collected. • Diamond core was sawn in half. Duplicate samples were quarter core. • The same side core was sent for assay. • RC samples were riffle split and composited to 4m at the drill site. • 100% of the RC samples were dry. • Due to the age of the drilling data for THRD002 & MCR004 it is difficult for the Competent Person to clearly comment on the QAQC effectiveness as poor records were kept by Giants Reef. The reader is cautioned when assessing the reported assay results. • The sample sizes reported are considered to be appropriate for the style of mineralisation reported – Tennant Creek Style IOCG.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• Rock chip samples were processed by Interek-Genalysis Laboratories. Samples were prepared in Alice Springs, NT and processed in Perth, WA. • Samples were : • Dried and crushed to 2mm • Pulverised to 80% % passing 80 microns • Samples were assayed using a 4 acid digest with an ICP- OES or ICP-MS (element dependant) finish. Analytes were: • Cu, Fe, Bi, Ag, Mo, Pb, Sb, Se, Zn • Gold analysis was by 25gram Aqua Regia dilution • No certified reference material (CRM’s) as assay standards including blanks or duplicates were submitted as part of the rock chip sample batch. • Laboratory checks include CRM’s and in-house controls, blanks, splits, and replicates that are analysed with each batch of samples submitted. These QC results are reported along with sample values in the final analytical report. • QAQC data is uploaded with the sample values into ERM’s database through an external database administrator (contractor). • A QAQC database is created as a separate table in the database and includes all field and internal laboratory QC samples. • QC dataisreported througha series ofcontrolchartsfor

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Criteria	JORC Code explanation	Commentary
		analysis and interpretation by the Exploration Manager or his/her delegate.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Emmerson’s Exploration Manager (Competent Person) has discussed in detail the mapping and rock chip collection procedures with the geologist and is satisfied that best practice has been followed. • Emmerson’s Exploration Manager (Competent Person) has discussed sample preparation and analyses with Genalysis Intertek sample Prep and Lab Manager to confirm the integrity of the sample assay process. • Emmerson’s Exploration Manager (Competent Person) has discussed gravity data collection and post processing with Daishsat Geodetic Surveyors and confirms the integrity of the gravity survey completed. • Do to the high grade nature of the rock chip samples several repeats have been carried out and the repeatability is considered to be reasonable. • Emmerson’s Exploration Manager (Competent Person) has verified the reported intersections for THRD002 and MCR004 by locating and checking the primary assay data sheets returned from the Laboratory (ALS). No apparent issues arose.
Location of data points	• Accuracy and quality of surveys used to locate drillholes (collar and downhole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Sample locations are shown in Table 1 within the main text. • Drilling locations are shown in Table 2 within the main text. • A handheld GPS was used to position each rock sample. Accuracy is considered to be +/- 5 metres. • Both drill holes were “picked up” by an Emmerson Company surveyor in 2009 with a DGPS. • Accuracy is considered to be 10cm • Co-ordinate system GDA_94, Zone 53. • Topographic measurements are collected from the final gravity survey.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• Rock chip samples were collected at non-regular intervals according to the observations at the time in the field. • Gravity survey data points were collected along 25 metre spaced lines and station intervals (25m x 25m grid). • THRD002 and MCR004 are separated by 500m. The current spacing is not considered sufficient to assume any geological or grade continuity of the mineralised system. • Downhole surveys were collected using a single shot Eastman camera and collected at 30m intervals. • Gravity grid25m x 25m grid.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• Rock chip samples were collected according to observations in the field. • Considering the lack of systematic drilling between the Thrace Prospect (THRD002) and the Macedon Prospect (MCR004), it is unclear whether the sampling will or won’t achieve unbiased results.
Sample security	• The measures taken to ensure sample security.	• Rock samples were transported from the field to the lab via local courier. • The assay laboratory confirms that all samples have been received and that no damage has occurred during transport. • Tracking is available through the internet and designed by theLaboratoryfor ERMto trackthe progress ofbatches of

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Criteria	JORC Code explanation	Commentary
		samples. • Sample receipt is logged into ERM’s sample ledger. • While the rock samples are being prepared in the Lab they are considered to be secure. • While samples are being analysed in the Lab they are considered to be secure. • Sample security could not confidently be determined for THRD002andMCR004.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	A review of the gravity report produced by Daishsat Geodetic Surveyors was undertaken by the Competent Person. No issues identified.

SECTION2 REPORTING OF EXPLORATION RESULTS – EDNA BERYL EXPLORATION TARGET

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	• The Edna Beryl Exploration Target lies wholly within Mineral Lease C705 (ML C705). • The Edna Beryl Exploration Target is located 37kms north of Tennant Creek Township and 3kms east of the Stuart Highway. • Edna Beryl is situated on map sheet SE53-14 Tennant Creek 1:250,000 and sheet 5759 Flynn 1:100,000 at GDA coordinate 416500mE 7864700mN. • ML C705 is located within Aboriginal Freehold Land held by the Warumungu Aboriginal Land Trust (NT portion 1754). The tenement is 100% held by Emmerson Resources Limited. • An agreement under the Aboriginal Land Rights (Northern Territory) Act 1976 has been entered into between Emmerson Resources and the Central Land Council on behalf of the Aboriginal landowners. The agreement provides for the protection of sites, the payment of compensation and allows the landowners unfettered access to the lease area (other than the immediate mine site where there are restrictions). • Emmerson Resources are in Joint Venture with Evolution Mining. • Exclusion Zones are identified within MLC 705 however do not impact on the Edna Beryl Exploration Target area. • MLC 705 is in good standing and no known impediments exist.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Edna Beryl was discovered in 1935 and mined in the 1940s and 1950s. Production up until 1952 was reportedly 2,700 tonnes of ore at an average grade of 53 grams gold per tonne. • Giants Reef Mining conducted all known “modern” exploration in and around the Edna Beryl Exploration Target Area. • Giants Reef has carried out exploration on the Edna Beryl area from 1990 to 2005 and during this time identified significant gold mineralisation below the original workings. • In 2004 – 2005 mining was conducted by the Edna Beryl Mining Company (formally known as Craig’s Mining Services) in a Tribute arrangement with Giants Reef Mining. Approximately 410 ounces was produced during this period from the upper mineralised pod from an exploration shaft and drive to current depth of 52m. • Influx of underground water plus declining gold price ceased the operation in July 2005. • The Carraman Mine has a reported production of 35 tonnes at120 g/tfor 4kg ofgoldfrom 1947 – 1951.

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Criteria	JORC Code explanation	Commentary
		• All known drilling with the Edna Beryl Exploration Target Areais shown withthemaintext ofthe document.
Geology	• Deposit type, geological setting and style of mineralisation.	• Gold and copper-gold deposits discovered in the Tennant Creek gold field to date, are hosted in the Lower Proterozoic Warramunga Formation; a metamorphosed (greenschist facies) • Greywacke-siltstone-shale sedimentary sequence that usually displays a pronounced east-west cleavage. Ore occurs adjacent to steeply dipping, lenticular or pipe-like magnetite/haematite/chlorite/quartz bodies (‘ironstone’) that are found along east-west trending structures. It is generally thought that the magnetite / haematite was hydrothermally formed in dilation zones along the controlling structures, and that the deposition of gold, sulphides and associated alteration minerals was a later event with mineralisation possibly being derived from a different source but following the same structurally controlled path. • In plan view, the ironstone bodies tend to be narrowest in the north-south direction and elongated east west, reflecting the regional cleavage and shearing. Edna Beryl clearly follows this pattern. Their vertical dimensions may run to hundreds of metres, beyond the reach of surface drilling. • Ore grades may occur over substantial vertical intervals of an ironstone pipe or lens, but are not expected to occur over the entire length. • The mineralisation style is considered to be Iron Oxide Copper Gold. • Supergene enrichmentisvery evident.
Drillhole information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drillholes: o easting and northing of the drillhole collar o elevation or RL of the drillhole collar o dip and azimuth of the hole o downhole length and interception depth o hole length.	• All information is recorded in Table 2.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• As stated below Table 2. • No weighted averages are reported. • Intersection lengths are downhole intervals and not considered to be true widths. • Not Applicable • Not Applicable

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Criteria	JORC Code explanation	Commentary
Relationship between mineralization widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported. • If it is not known and only the downhole lengths are reported, there should be a clear statement to this effect (eg ‘downhole length, true width _not known’). _	• Not Applicable • The drill intersections reported are not considered true widths. Additional drilling is required to determine the geometry of the intersected mineralisation.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drillhole collar locations and appropriate sectional views.	• Refer to Figures in body of text.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• Emmerson considers the Edna Beryl mineralisation to be an Early stage Exploration Target. • It is uncertain that following evaluation and/or further exploration work that the historical estimate will be able to be reported as Mineral Resources or Ore Reserves in accordance with the requirements in Appendix 5A (JORC Code).
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• Not Applicable
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• RC and diamond drilling (Phase 1) is to be completed. This information will further assist in confirming the geological model and presence of hematite ironstones that may have been undetected. • Optical / Acoustic televiewer survey of selected drill holes. • Planned drill hole spacing is considered too wide to enable an accurate Mineral Resource Estimate. • Higher gold grade intersections are to be selected for screen fire assay. • Petrological study of selected core and drill chips. • Broader gravity survey is being considered centred on the EdnaBeryl mine.

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