Future Metals NL — Capital/Financing Update 2011

Jul 24, 2011

22 July 2011

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

By E-Lodgement

Pre-Quotation Disclosure

BOARD & MANAGEMENT Mr Greg Bandy EXECUTIVE DIRECTOR

Mr Jason Bontempo NON-EXECUTIVE DIRECTOR

Mr Stephen Brockhurst NON-EXECUTIVE DIRECTOR

Ms Shannon Robinson COMPANY SECRETARY

Red Emperor Resources NL (ASX: RMP | AIM: RMP) confirms that:

• (a) the conditions precedent to the Subscription Agreement dated 20 May 2011 have been satisfied and that 18,000,000 shares in the capital of Strait Oil & Gas (UK) Limited have been issued to the Company's wholly owned subsidiary, Georgian Oil Pty Ltd;

• (b) the conditions precedent to the Shareholder Agreement dated 20 May 2011 have been satisfied;

• (c) the conditions precedent to the Farmout Agreement dated 12 August 2010 have been satisfied;

• (d) the conditions precedent to the Amended and Restated Heads of Agreement dated 15 June 2010 have been satisfied; and

• (e) there are no legal, regulatory or contractual impediments to the Company undertaking the activities the subject of the commitments disclosed in the Updated Statement of Commitments.

For and on behalf of the Board

Greg Bandy Executive Director

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

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