EMPIRE RESOURCES LIMITED — Capital/Financing Update 2021

Nov 8, 2021

ASX Release

9 November 2021

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DESPATCH OF PROSPECTUS

The despatch of the Prospectus and Entitlement and Acceptance Forms to Eligible Shareholders in respect of a non-renounceable pro-rata rights issue has been mailed to all Eligible Shareholders today.

The offer is for approximately 129,821,432 New Shares, on the basis of 1 New Share for every 7 Shares held on the record date (4 November 2021) at an issue price of 1.2 cents per New Share, to raise up to approximately $1,557,857 before costs and approximately 64,910,716 New Options on the basis of 1 free attaching New Option for every 2 New Shares issued, with each New Option having an exercise price of 1.6 cents and an expiry date of 30 November 2023.

The offer closes 30 November 2021.

Target Market Determination (“TMD”)

The Company advises that following the introduction of new product design and distribution obligations on 5 October 2021, the Company is required to prepare and publish a TMD in relation to the offer to issue the New Options, as made by the Company under the Prospectus.

The TMD is available on the company’s website through the following link:

https://www.resourcesempire.com.au/wp-content/uploads/2021/11/Target-MarketDetermination.pdf

This announcement is authorised for release by:

Sean Richardson Managing Director

For further information on the Company Phone: +61 (0)8 6389 1032 www.resourcesempire.com.au

www.resourcesempire.com.au info@resourcesempire.com.au 159 Stirling Highway, Nedlands WA 6009

t +61 (0) 8 6389 1032

EMPIRE RESOURCES LIMITED ACN 092 471 513 ASX: ERL

ASX Announcement 9 November 2021

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About Empire

Empire Resources Limited (ASX:ERL) is a gold and copper focussed exploration and development company. Empire owns four highly prospective projects. The Yuinmery Copper-Gold Project 470km northeast of Perth in the Youanmi Greenstone Belt, the Barloweerie multi-element precious and base metal project, the Nanadie Copper-Gold Project southeast of Meekatharra in the Murchison Region and the Penny’s Gold Project 45km northeast of Kalgoorlie in the prolific Eastern Goldfields Region of Western Australia. Empire’s projects have numerous exploration targets with excellent potential.

Empire has an experienced team of exploration, development and financial professionals who are committed to developing a sustainable and profitable mineral business. Empire seeks to extract value from direct exploration in its existing projects as well as identifying value accretive investment opportunities that complement the Company’s development objectives.

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Empire Resources Project Locations

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EMPIRE RESOURCES LIMITED ASX: ERL