EMPIRE RESOURCES LIMITED — Board/Management Information 2009

Nov 30, 2009

ASX Release

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ACN 092 471 513

1 December 2009

Empire Option Plan

As approved by shareholders at the Company’s annual general meeting in November 2009, Empire Resources Limited (“ Empire” or the “Company”) has established the Empire Resources Option Plan to ensure that it has appropriate mechanisms in place to continue to attract and retain the services of directors and employees of a high calibre.

Empire has today made offers to directors, staff and some consultants to apply for options, under the terms of the Empire Resources Option Plan. Under the offers participants will be granted 2.7 million Options in total, if and when shareholder approval (where required) is obtained under the requirements of the Corporations Act 2001 and the ASX Listing Rules. Shareholder approval for the grant of the options to directors will be sought at the next general meeting of Empire shareholders.

The terms and conditions of the offer are set out below.

Option term: 3 years from the date of grant.

Option exercise price: $0.137, being the price calculated by the VWAP (volume weighted average price) over 30 ASX Business Days before today, plus 50%.

Corporate goal that must be met before the options may be exercised: Empire’s market capitalization reaching $10.77 million (which is the current market capitalisation of the Company plus 50%) and remaining at that level for 50 ASX Business Days.

The options will be subject to the terms and conditions set out in the Empire Resources Option Plan, namely:

• (a) Options granted under the plan are not transferable.

• (b) Options granted under the plan expire six months after the retirement or retrenchment of the holder (as those terms are defined within the plan rules) or death or bankruptcy of the holder (or person through whom they have been granted) or one month after the holder (or person through whom they have been granted) cease to be eligible to hold them.

The Company also wishes to announce that Mr Adrian Griffin, who is chairman of the board of directors, has indicated that he intends to resign from the board once a suitably qualified individual has been found to replace him as a director of the Company. Mr Griffin, who

continues to be a strong supporter of the Company, will continue to be available to act as a consultant to the Company and to provide support to its management in their ongoing activities. It is with regret that Mr Griffin has taken this step to resign as a director, which he has done because of heavy work commitments elsewhere.

CONTACT:

Empire Resources Limited

David Sargeant -- Managing Director Tel. 08 9361 3100 Adrian Jessup -- Executive Director Tel. 08 9361 3116

Website: www.resourcesempire.com.au