EMPIRE RESOURCES LIMITED — Capital/Financing Update 2016

Dec 27, 2016

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ACN 092 471 513

28 December 2016

ASX Release

EMPIRE SIGNS AGREEMENT FOR PROCESSING PENNY’S FIND ORE

Empire Resources Ltd (ASX code: ERL) is pleased to announce the signing of an agreement with Golden Mile Milling Pty Ltd for the toll treatment of ore from the Penny’s Find gold deposit.

Golden Mile Milling operates the Lakewood Mill located on the southern outskirts of Kalgoorlie-Boulder, WA, being 63km by road from Penny’s Find (Figure 1). A recent inspection of the plant facilities has confirmed the suitability of the Lakewood Mill for treatment of the free milling Penny’s Find ore.

The agreement outlines industry standard terms and conditions for the batch treatment of Penny’s Find ore at the Lakewood Mill with each treatment campaign scheduled to process between 15,000 and 20,000 tonnes of ore.

The toll treatment agreement follows other recent Penny’s Find progress announced in recent weeks, including:-

• The successful completion of the road diversion around the mine

• The appointment of Steven Rodgers as Project Manager to oversee the commissioning and production start at Penny’s Find

• Upgraded potential for mine life extension following continued underground mining studies.

All of these developments are key factors as Empire moves towards full Penny’s Find mining operations early in the New Year.

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Figure 1 : Location of Penny’s Find gold deposit and Lakewood Mill

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Figure 2 : Lakewood Mill

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Figure 3 : Lakewood Mill ROM pad

Penny’s Find contains a probable ore reserve of 146,000 tonnes @ 4.62g/t Au as announced to the ASX on the 15 February 2016.

PENNY'S FIND OPEN PIT ORE RESERVE - FEBRUARY 2016	PENNY'S FIND OPEN PIT ORE RESERVE - FEBRUARY 2016	PENNY'S FIND OPEN PIT ORE RESERVE - FEBRUARY 2016	PENNY'S FIND OPEN PIT ORE RESERVE - FEBRUARY 2016
**DESCRIPTION **	TONNES	GRADE	GOLD TO
		g/t Au	MILL(ozs)
PROVED	-	-	-
PROBABLE	146,000	4.62	21,700
TOTAL	146,000	4.62	21,700

DAVID SARGEANT MANAGING DIRECTOR December 2016

For further information on the Company, David Sargeant – Managing Director Tel: +61 8 9361 3100 Visit: www.resourcesempire.com.au

Competent Persons Statement - Ore Reserves

The scientific and technical information in this report that relates to Ore Reserves estimates for the Penny’s Find Project is based on information compiled by Mr Roselt Croeser, an independent consultant to Empire Resources Limited. Mr Croeser is a Member of the Australasian Institute of Mining and Metallurgy. Mr Croeser has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Croeser consents to the inclusion in the report of the matters related to the Ore Reserve estimate in the form and context in which it appears.