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EMPIRE RESOURCES LIMITED AGM Information 2021

Nov 22, 2021

64875_rns_2021-11-22_cb5a943a-be82-482d-86d0-ca362427dfdb.pdf

AGM Information

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Focussed on Building Value

AGM Presentation

23 November 2021

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Disclaimer

This presentation is for information purposes only.

This presentation has been prepared by Empire Resources Limited (“Empire” or the “Company”) and contains general background information about Empire’s activities as at the date of this presentation (“Information”). It is Information in a summary form only and does not contain all the Information necessary to fully evaluate any investment.

While the Information in this presentation has been prepared with due care, Empire:

  • (i) disclaims all responsibility for the contents of this presentation to the fullest extent permitted by law, and

  • (ii) is not to be held liable for any statement in, or omission from, this presentation.

Each recipient of this presentation must check the accuracy or otherwise of the materials contained in this presentation.

Forward looking statements in this presentation may involve known and unknown risks, uncertainty, or may be subject to factors outside the control of Empire that may cause the actual results, performance or achievements of Empire to differ materially from those expressed or implied by those statements. Further information on Empire can be obtained from www.resourcesempire.com.au.

This presentation is not a prospectus or a product disclosure statement under the Corporations Act 2001 (Cth) and has not been lodged with the Australian Securities and Investment Commission (“ASIC”). This presentation is neither an offer nor an invitation to subscribe for securities in Empire or representation that any securities issue will take place. Any such offer or invitation will only be made (if at all) by a disclosure document under the Corporations Act or by another document to exempt investors not requiring disclosure under the Corporations Act.

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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2021 Highlights

Significant progress in exploration over the past 12 months

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13,140m of drilling completed at Penny’s & Yuinmery Projects

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+1,500 soil samples collected at Nanadie Project Diamond drilling planned to commence December 2021 at Yuinmery Appointment of Exploration Manager[[1]]

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Expanded project portfolio

Granted exploration tenement holdings doubled to 449km[2] Additional 387km[2] of tenement applications

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Two new projects – Nanadie (Cu-Au) and Meekatharra (Au)

Balance sheet continues to strengthen

Sale of Dacian holding for $2.6M profit (175% ROI)[[2]]

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$2.0M cash as at 23 November 2021

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Rights issue to raise $1.5M open until 30 November 2021[[3]]

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Investor Dashboard

[(at 22 November 2021)] Capital Structure

Capital Structure (at 22 N ovember 2021 )
Share Price $ 0.012
FPO Shares Outstanding m 908.75
Cash(Unaudited) $m 2.08
Debt & Other Liabilities $m 0.00
Market Capitalisation $m 10.90

Shareholder Distribution

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34%
ERL Board
Other
66%
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Board & Management

Michael Ruane Non-Executive Chairman Sean Richardson Managing Director - Jeremy Atkinson Non Executive Director

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ASX:ERL Share Price Performance
2.0
1.5
1.0
0.5
Nov-20 Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21
50
25
0
Close (cps)
Vol (m)
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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Investments – Penny’s Gold Mine Royalty

5% Net Smelter Royalty for first 50,000oz, 2.5% thereafter[[4]]

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Plus $400,000 in remaining staged milestone payments High grade gold mine 50km northeast of Kalgoorlie Open pit production – 138,272t @ 4.47g/t Au for 18,356oz Au[[5]] Underground Resource – 250,000t @ 5.22g/t Au for 42,000oz Au[[6]] Horizon Minerals Limited (ASX:HRZ) rapidly advancing the Penny’s Gold Mine towards production[[6]]

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Resource definition and extension drilling completed April 2021 Resource update completed July 2021 Maiden Ore Reserve expected December Quarter 2021 Fully permitted with toll milling agreement executed for H2 2022

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Empire Projects

449km[2] of granted tenements

387km[2] in tenement applications Yuinmery (Au, Cu-Au, Cu-Ni-Co & PGM’s)

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370km NE of Perth

7km to Youanmi Mine Site Nanadie (Cu-Au)

70km east of Meekatharra Penny’s Gold Project (Au) 45km NE of Kalgoorlie

Barloweerie (Zn-Pb-Ag-Au) 150km west of Cue

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Yuinmery Project

Polymetallic VMS base metals and orogenic gold mineralisation

Multiple deposits, prospects and targets

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2 deposits – 1 JORC Resource

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26 prospects – 6 untested below 75m

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18 defined targets – 9 untested by drilling

+100,000m (>2,000 holes) of historical drilling

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Only 10% of drilling below 75m Anomalism in shallow drilling across multiple targets

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Ongoing exploration

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Yuinmery – Base Metals

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Yuinmery – A Zone

1.3km along strike from Just Desserts Previous intersections include[[7]]

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12m @ 2.05% Cu fr. 138m (YRC18-01) 19m @ 1.9% Cu fr. 160m (YRC11-16)

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7m @ 3.2% Cu fr. 192m (YRC11-26) 10m @ 1.8% Cu fr. 222m (YRC11-39) 8m @ 2.4% Cu Fr. 275m (YRC11-41D)

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Limited exploration since 2011 Open in all directions Recent 2021 RC drilling results[[8]] 4m @ 1.03%Cu fr. 128m (YRC21-22)

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Yuinmery – Smiths Well

Broad zones of disseminated sulphides Extensive Cu-Ni-Co mineralisation Open along strike and down dip Recent 2021 RC drilling results[[8]]

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16m @ 0.51%Cu, 0.16%Ni & 0.031%Co fr. 255m (YRC21-28)

Diamond drilling planned for March Quarter 2022

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Yuinmery – YT01

Target identified late 2019

Geochemical signature over 3.5km First pass AC drilling late 2019 RC drilling commenced early 2020

PGM mineralisation discovery[[9]]

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20m @ 0.39% Cu & 0.11% Ni fr. 143m inc 12m @ 0.34g/t Pd, 0.11g/t Pt

Recent 2021 RC drilling results[[8]]

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36m @ 0.34%Cu, 0.07%Ni & 0.19g/t PGE fr. 188m (YRC21-16)

Diamond drilling planned for March Quarter 2022

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Nanadie Project

Copper-Gold mineralisation in Greenstones 127km[2] granted exploration tenements Proximal to Nanadie Well Copper Project (ASX:CYM) 36.07Mt @ 0.42% Cu & 0.064g/t Au for 151kt Cu & 74koz Au[[10]]

Minimal historical exploration Field exploration commenced September 2021[[11]] Detailed geological mapping completed +1,500 soil samples collected Detailed geophysical review underway

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Nanadie – Soils Sampling

+1,500 soil samples collected October 2021 Targeting prospective areas identified by geological mapping and geophysical imagery 200m line spacing, 50m sample spacing Aircore drilling programs dependant on results Results expected March Quarter 2022

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Penny’s Gold Project

  • 19.1km[2] granted tenements

  • 8.8km[2] tenement applications

50km from Kalgoorlie

Proximal to Penny’s Find Gold Mine (ASX:HRZ)

250,000 tonnes @ 5.22g/t Au for 42,000oz[[6]]

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Multiple targets, limited drill testing

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Targeting structurally controlled and supergene gold

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  • 5 drill ready targets – 3 untested below the oxide interface

+15,500m of historical drilling

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Only 9% of drilling below 75m

Ongoing exploration

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Penny’s Gold Project – PF09

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Widespread supergene mineralisation Bedrock quartz, pyrite & arsenopyrite Recent RC drilling identified bedrock mineralisation

Open in all directions Further aircore drilling planned to test extents of supergene mineralisation

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Penny’s Gold Project – PF04

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Dominant surficial arsenic plume Structurally controlled mineralisation Historical drilling ended in mineralisation and/or failed to reach design depth Recent RC drilling results[[12]]

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4m @ 3.1g/t Au fr. 36m (PRC20-07)

Open in all directions Further RC drilling planned

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Barloweerie

150km west of Cue 112km[2] granted tenements 378km[2] under application Base metals and gold mineralisation Multiple walk-up Zn-Pb-Ag-Cu-Au targets Strong mineralisation in historical 1980’s drilling

5m @ 4.8% Zn fr. 38m (SDH34) 1m @ 3.9% Pb fr. 15m (SDH19) 5m @ 100.0g/t Ag fr. 28m (SDH31) 2m @ 0.58% Cu fr. 19m (SDP8) Limited modern exploration since 1987

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Source: Open file WAMEX open file report a021129

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Barloweerie – B1 Prospect

Outcropping mineralisation over 2km strike Granite-mafic intrusive/extrusive contact offset by NNE faulting

Historical logging identifies mineralisation associated with intense silicification and sulphide minerals including chalcopyrite, sphalerite, galena, pyrrhotite and pyrite Mineralisation open along strike and at depth Site visit in 2021 confirmed geological setting and access Land access and approvals progressing

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Source: Open file WAMEX open file report a021129

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Summary

Excellent package of highly prospective exploration projects

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Multi-commodity: Au, Cu-Au, Cu-Ni-Co, PGM’s & Zn-Pb-Ag-Cu-Au Greenfields through to advanced exploration with existing JORC Copper Resource Reactivated exploration, continuous news flow

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Strong financial position

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Strong cash position, zero debt

Demonstrated efficient and effective exploration

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Systematic approach to exploration and evaluation Prudent and cost efficient exploration activities

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Continually developing understanding of geological conditions

Experienced team

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History of corporate success

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Strong commercial and technical skill sets

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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159 Stirling Highway Nedlands, WA 6009

PO Box 1104 Nedlands, WA 6909

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P: +61 (0)8 6389 1032

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[email protected] www.resourcesempire.com.au

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ASX:ERL

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EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Appendix I – Just Desserts Copper-Gold Resource April 2016

JORC Resource to th of 170m at 0.5% Cu lower cut off dep

Weathering Indicated Indicated Indicated Indicated Inferred Inferred Inferred Inferred Total Total Total Total
Tonnes Cu% Aug/t Ag g/t Tonnes Cu% Aug/t Ag g/t Tonnes Cu% Aug/t Ag g/t
Partial
Fresh		 97,000
1.05
0.30
0.98
65,000
1.43
0.18
2.21
163,000
1.20
0.25
1.47
1,174,000
1.33
0.67
1.31
1,183,000
1.30
0.34
2.25
2,357,000
1.31
0.51
1.78
Total 1,271,000 1.31 0.64 1.28 1,249,000 1.31 0.33 2.25 2,520,000 1.31 0.49 1.76

JORC Resource to de th of 170m at 1.0% Cu lower cut off p

Weathering Indicated Indicated Indicated Indicated Inferred Inferred Inferred Inferred Total Total Total Total
Tonnes Cu% Aug/t Ag g/t Tonnes Cu% Aug/t Ag g/t Tonnes Cu% Aug/t Ag g/t
Partial
Fresh		 47,000
1.37
0.37
1.09
31,000
2.14
0.22
2.20
78,000
1.68
0.31
1.53
752,000
1.65
0.84
1.54
435,000
2.31
0.49
2.81
1,187,000
1.89
0.71
2.01
Total 799,000 1.63 0.82 1.51 467,000 2.30 0.47 2.76 1,266,000 1.88 0.69 1.97

Refer to ASX:ERL “ Updated copper-gold Resource Yuinmery Project ” 17 May 2016

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Appendix II – Competent Person Statements

The information in this presentation that relates to Exploration Results is based on information compiled and/or reviewed by Mr Mark Shelverton, who is a Member of the Australian Institute of Geoscientists. Mr Shelverton is a full-time employee of Empire Resources and has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Shelverton consents to the inclusion in this presentation of the matters based on this information in the form and context in which they appear.

The information is this presentation concerning the Mineral Resources for the Just Desserts/Trajan Deposit have been estimated by Mr Peter Ball BSc who is a director of DataGeo Geological Consultants and is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Ball has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and qualifies as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Ball consents to the inclusion in this public release of the matters based on his information in the form and context in which it appears.

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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Appendix III – Additional Information

Further details relating to the information in this presentation can be found in the following ASX announcements:

  1. ASX:ERL “ Exploration Manager Appointment ” 1 November 2021

  2. ASX:ERL “ Sale of Dacian Shareholding ” 20 October 2021

  3. ASX:ERL “ Pro-Rata Non-Renounceable Rights Issue Offer ” 29 October 2021

  4. ASX:ONX “ Acquisition of High-Grade Penny’s Find Mine ” 4 March 2019

  5. ASX:ERL “ Quarterly Report for the Period Ending 30 June 2018 ” 31 July 2018

  6. ASX:HRZ “ Penny’s Find JV Resource Update ” 14 July 2021

  7. ASX:ERL “ Further High Grade Copper Intersected at A Zone Prospect ” 8 June 2018

  8. ASX:ERL “ Excellent Results from Yuinmery Drilling ” 22 September 2021

  9. ASX:ERL “ Encouraging Ci-Ni-PGM Mineralisation in Drilling at Yuinmery ” 23 July 2020

  10. ASX:CYM “ Nanadie Well Copper Project Acquisition ” 14 July 2020

  11. ASX:ERL “ Fieldwork Commences at Nanadie Copper-Gold Project ” 7 October 2021

  12. ASX:ERL “ Encouraging Gold Intercepts at Penny’s ” 29 March 2021

EMPIRE RESOURCES LIMITED ASX: ERL www.resourcesempire.com.au

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