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EMPIRE RESOURCES LIMITED Capital/Financing Update 2018

May 15, 2018

64875_rns_2018-05-15_edf5e236-eaa5-484d-a7e3-0cd247ee1085.pdf

Capital/Financing Update

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ACN 092 471 513

16 May 2018

ASX Release

FULL REPAYMENT OF BLUE CAP MINING ADVANCE

Empire Resources Ltd (ASX code:ERL) on behalf of the Penny’s Find Joint Venture is pleased to announce that Blue Cap Mining Pty Ltd (“BCM”) has confirmed that all outstanding monies owed to BCM under the provisions of the Funding Agreement dated 16 August 2017, arising from the development and mining of the Penny's Find mine, have been paid to BCM.

A final processing summary for the fourth treatment campaign will be issued to the market once Mint and mill reconciliations have been finalised.

DAVID SARGEANT MANAGING DIRECTOR

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