EMPIRE RESOURCES LIMITED — Capital/Financing Update 2013

Jul 15, 2013

ACN 092 471 513

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16 July 2013 ASX release

EMPIRE’S DISCOVERY SUCCESS WINS EXTENSION ON OPTION

- TO ACQUIRE SURROUNDING W.A. COPPER GOLD TENEMENTS

The success by Empire Resources Ltd (ASX: ERL) in discovering significant new copper-gold mineralisation on land in central Western Australia not owned by it but immediately surrounding its flagship Yuinmery project, has won for the Company a 12-month extension on an option to acquire the non-owned tenements.

Empire now has until August next year to elect to exercise the acquisition option, on tenements 89.8% owned by La Mancha Resources Australia Pty Ltd.

Both parties have unanimously agreed that the settlement cost for the acquisition, if proceeded with, in 12 months time, will now be $1 million – up from the $750,000 agreed in the initial terms nearly three years ago.

Empire Managing Director, Mr David Sargeant, today welcomed the extension, saying it provided a sound opportunity for the Company to continue to consolidate its success on its own and the La Mancha land but respecting the challenging external equity market conditions facing junior explorers and developers.

“Both Empire and La Mancha are keen to see this proposal through to conclusion as it has been rewarding for both parties to date despite the recent and current turbulence in the base metals and gold sectors,” Mr Sargeant said.

“We are exceptionally pleased with the outcome of our work on the La Mancha holdings and see value in paying an additional premium to ensure we not only complete our full due diligence and exploration work on this province ahead of an acquisition decision, but protect our position at Yuinmery by having our foot on a sufficiently large contiguous holding offering substantial proven and potential copper-gold mineralisation.”

In September 2010, Empire Resources, a WA-focused gold and copper gold explorer and developer, announced it had entered into an option agreement with La Mancha to purchase an interest in La Mancha’s tenements surrounding Empire’s flagship Just Desserts resource with the Company’s wholly-owned Yuinmery copper-gold project.

The agreement trebled Empire’s tenement holding to 227km² and positioned it as the major land holder in the base metal rich but underexplored Youanmi Greenstone Belt.

Of major interest to Empire Resources was an airborne electromagnetic survey completed by La Mancha over its tenements and which revealed numerous untested conductive zones for base metal sulphides.

Subsequent exploration by Empire on the La Mancha tenements led to the discovery of significant coppergold mineralisation at the A Zone prospect and large widths of low grade platinum – palladium mineralisation (PGM) at the Constantine prospect.

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The total Empire Resources work in the area targeted Reverse Circulation (RC) and diamond drilling programs at more than 10 different prospects on both it and La Mancha’s tenements, with a focus on the A Zone prospect, which straddles the tenement boundary between Empire’s 100% area and La Manche’s.

Under the new developments announced today, Empire now has until 7 August 2014 to elect to acquire the surrounding holdings.

Both holdings are approximately 185km east of the producing Golden Grove polymetallic mine.

DAVID SARGEANT MANAGING DIRECTOR

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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