EMPIRE RESOURCES LIMITED — Capital/Financing Update 2008

Jul 2, 2008

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ACN 092 471 513

ASX Release Thursday 3 July, 2008

Empire places 5 million shares to Apex and signs MOU to - progress Yuinmery copper gold project in WA

Empire Resources Ltd (ASX “ERL”) is pleased to advise that it has reached an agreement with Apex Minerals N.L. (“Apex”) to raise $850,000. Integral to this is a potential processing opportunity to accelerate development of its Yuinmery coppergold project in Western Australia.

The placement and MOU signed with ASX listed gold and nickel group, Apex Minerals NL - follows Empire’s announcement last week of high grade copper-gold intersections from the flagship Just Desserts Prospect at Yuinmery, 85 kilometres southwest of Sandstone.

The details of the deal are as follows

• Empire has placed 5 million shares at 17 cents per share with Apex to raise A$850,000, positioning Apex as a substantial shareholder in Empire with the right to nominate a representative to join the Empire Board of Directors.

The funds raised will be used to progress exploration of volcanogenic massive sulphide (VMS) style copper-gold occurrences within Empire’s Yuinmery tenements, including diamond drilling to test down plunge extensions of mineralised zones identified at Just Desserts, and an initial resource calculation.

• Both companies have signed a Memorandum of Understanding (MoU) to enter into commercial negotiations relating to the Yuinmery Project.

Apex owns a processing plant at Youanmi, just 6.5 kilometres southwest of Just Desserts. Under the MoU, Empire and Apex will investigate the possibility of future development and production for Yuinmery.

For further information on the Company visit www.resourcesempire.com.au

ADRIAN JESSUP EXECUTIVE DIRECTOR

David Sargeant – Managing Director Phone: +61 8 93613100 Adrian Jessup – Executive Director Phone: +61 8 93613116

PRINCIPAL AND REGISTERED OFFICE

53 Canning Highway Victoria Park WA 6100

Tel: +61 (0)8 93613100 Fax: +61 (0)8 93613184

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PRINCIPAL AND REGISTERED OFFICE

53 Canning Highway Victoria Park WA 6100

Tel: +61 (0)8 93613100 Fax: +61 (0)8 93613184