Future Metals NL — Board/Management Information 2011

Sep 27, 2011

28 September 2011

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Manager of Company Announcements ASX Limited Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000

By E‐Lodgement

BOARD & MANAGEMENT

Mr Greg Bandy EXECUTIVE DIRECTOR

Mr Jason Bontempo NON‐EXECUTIVE DIRECTOR

Mr Stephen Brockhurst NON‐EXECUTIVE DIRECTOR

Georgian Drilling Update

Red Emperor Resources NL (ASX: RMP | AIM: RMP) along with its joint venture partners Strait Oil and Gas UK Ltd and Range Resources Limited is pleased to announce that while drilling has been hampered over the past 10‐12 days due to the loss of a drill collar in the hole. The drill collar has been successfully recovered from the hole with new drill collars having been sourced and delivered to site late last week. Drilling recommenced over the weekend and is currently at 1,452m, with a target depth of 3,500m.

The Mukhiani Well is targeting the Vani 3 prospect which has the following estimated undiscovered stock tank oil‐in‐place ("STOIIP"):

undiscovered stock tank oil‐in‐place ("STOIIP"):	undiscovered stock tank oil‐in‐place ("STOIIP"):	undiscovered stock tank oil‐in‐place ("STOIIP"):
Vani 3 Prospect ‐ STOIIP(MMbbls)P90P50
	P90	P50	P10	Mean
Gross (100%)	41.7	92.7	178.2	115.2
Net Attributable to RMP (20%)	8.3	18.5	35.6	23.0

Ms Rebecca Sandford COMPANY SECRETARY

REGISTERED OFFICE 945 Wellington Street West Perth WA 6005

POSTAL ADDRESS PO Box 1263 West Perth WA 6872

CONTACT DETAILS

Tel: +61 8 9322 7600 Fax: +61 8 9322 7602

WEBSITE

www.redemperorresources.com

The geochemical helium survey undertaken by JV partner, Range Resources, confirmed the suitability of the first drill location with oil exploration and development prospectivity complementing the earlier seismic work completed on the target.

For and on behalf of the Board

Greg Bandy Executive Director

Background

Red Emperor Resources NL (ASX: RMP) is a natural resources exploration company with interests in the frontier state of Puntland, Somalia, the Republic of Georgia and Western Australia.

• In Puntland, Red Emperor holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys. These two exploration areas cover over 36,000km[2] and have independently been assessed to potentially contain a combined 19 billion barrels of oil in‐place. Red Emperor’s joint venture partner and PSA operator Africa Oil Corp. (TSXV: AOI) has signed a contract with a drilling company Sakson Drilling and Oil Services and expects the first well to be drilled in Dharoor in Q4, 2011.

SHARE REGISTRY Computershare Level 2 45 St Georges Terrace Perth WA 6000 Tel: 1300 555 159

NOMINATED ADVISER Cairn Financial Advisers LLP 61 Cheapside London EC2V 6AX Tel: +44 (0) 207 148 7900 Fax: +44 (0) 207 148 7909

ASX CODE RMP

AIM CODE

RMP

• In the Republic of Georgia, Red Emperor has a 20% working interest in onshore blocks VIa and VIb, covering approx. 6,500km[2] . Joint Venture partner Range Resources Limited (ASX: RRS | AIM: RRL) last year funded a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing an estimated 2.045 billion barrels of oil‐in‐place (on a mean 100% basis). Two wells are to be drilled this year as part of the proposed drill program.

• The Company also has a 25% interest in the Jillewarra Project, a copper and gold project in Western Australia. This interest is free carried through until bankable feasibility study.