EMPIRE RESOURCES LIMITED — Capital/Financing Update 2010

Mar 31, 2010

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ACN 092 471 513

Thursday 1 April 2010

ASX Release

Please refer to the attached announcement lodged with the ASX by Freedom Eye Limited announcing that the conditions precedent to the completion of the acquisition of the Yarlarweelor Uranium Project from Empire Resources Limited have been met.

Subject to confirmation from the ASX that Freedom Eye Limited complies with Chapters 1 and 2 of the ASX Listing Rules, FYI will allot and issue the shares subscribed for under the Prospectus dated 27 November 2009 and the Supplementary Prospectus dated 26 February 2010 and issue 12,829,807 for the acquisition of the Yarlarweelor tenement to Empire Resources Ltd.

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

David Sargeant – Managing Director Phone: +61 8 9361 3100 Adrian Jessup – Executive Director Phone: +61 8 9361 3100

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Completion of Capital Raising and Acquisition of Yarlarweelor Uranium Project

SUMMARY

• Minimum subscription raised and capital raising complete

• Conditions precedent to Yarlarweelor Acquisition Agreement complete

• Company to seek re-quotation on the ASX

Perth, Australia. 31 March 2010 : The Board of Directors of Freedom Eye Ltd hereby announces that it has closed the Prospectus dated 27 November 2009 and the Supplementary Prospectus dated 26 February 2010, having raised the minimum subscription amount of $1.6 million.

The Board of Freedom Eye Limited also announces that all of the conditions precedent to the completion of the acquisition of Exploration License E52/2095 (the ‘Yarlarweelor Uranium Project’) from Empire Resources Limited have been met. As such, subject to confirmation from the ASX that Freedom Eye Limited complies with Chapters 1 and 2 of the ASX Listing Rules, Freedom Eye Limited will now proceed to:

• Change its name to FYI Resources Limited;

• Allot and issue the shares subscribed for under the Prospectus dated 27 November 2009 and the Supplementary Prospectus dated 26 February 2010; and

• Seek from the ASX to have all ordinary shares in FYI Resources Limited to be requoted on the ASX

As announced previously by Freedom Eye Limited a drilling program is scheduled to commence on the Yarlarweelor Project on 2 April 2010.

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Further Information:

Mr Russell BarnettChairmanMob: 0438 710 917	Dr David SparlingDirectorMob: 0417 721 972

www.freedomeye.com

53 Canning Highway, VICTORIA PARK, WA 6100 Postal: PO Box 375, WEST PERTH, WA 6872 Tel: +61 8 9361 3100 Fax: +61 8 9361 3184 Website: freedomeye.com.au