EMPIRE RESOURCES LIMITED — Board/Management Information 2019

Jul 3, 2019

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ACN 092 471 513

4 July 2019

ASX Release

MANAGING DIRECTOR APPOINTMENT

Empire Resources Ltd (“Empire” or the “Company”) is pleased to advise that it has appointed Mr Sean Richardson as Managing Director of the Company. Mr Richardson will replace Mr David Sargeant, who will remain as a Non-Executive Director.

Mr Richardson is an experienced Minerals Executive, a graduate of the Western Australian School of Mines (WASM) and a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Richardson has over 25 years’ operational, consultancy and managerial experience in Australian, North American, African, South-East and Central Asian mineral projects. His experience ranges from exploration through project development to production, having held senior management positions for a number of ASX listed and private exploration, mining and consultancy companies including; Bardoc Gold Limited, North West Nickel and Atlas Iron.

The key terms and conditions of Mr Richardson’s appointment are as follows:

Commencement Date: 4 July 2019. Term: Appointment on an on-going basis. Fixed Remuneration: $219,000 per annum, comprising base salary and superannuation. Long Term Incentive: 20 million performance rights in Empire which vest when the price of Empire's shares remain at or above a 20 day VWAP price of 1.5 cents for a period of not less than 20 days and within a period of two years of continuous employment from the date of engagement. The issue of the performance rights are subject to shareholder approval, which will be sought at the next general meeting of shareholders. Termination and Notice: The MD may terminate the agreement by providing one months’ notice. The Company may terminate the agreement by providing three months’ notice.

Dr Michael Ruane

Non-Executive Chairman For further information on the Company Phone: +61 8 9361 3100 www.resourcesempire.com.au

PRINCIPAL AND REGISTERED OFFICE

159 Stirling Highway Tel: +61 (0)8 9386 4699 Nedlands WA 6009 Fax: +61 (0)8 9386 9473