Future Metals NL — Capital/Financing Update 2012

Apr 25, 2012

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26 April 2012

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

By E-Lodgement

Raises £6.24 Million in Placing and Appoints Fox-Davies as Joint Broker

Red Emperor Resources NL (ASX | AIM: RMP), the oil and gas exploration company with interests in Puntland and Georgia, is pleased to announce a placing, through Fox-Davies Capital Limited and Old Park Lane Capital, of 19,500,000 new ordinary shares at 32 pence per share (the "Placing Shares") to raise £6.24 million before expenses (the "Placing").

The funds raised under the Placing will be used for exploration activities at the Company’s high impact exploration projects in Puntland and in the Republic of Georgia.

Application has been made to the London Stock Exchange for admission of the Placing Shares to trading on AIM (“Admission"). It is expected that Admission will become effective and that trading in the Placing Shares will commence on or about 1 May 2012. The Placing Shares will rank pari passu in all respects with existing ordinary shares in the Company.

Following Admission, the Company will have 258,484,221 ordinary shares in issue. This figure may be used by shareholders in the Company as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest, under the Disclosure and Transparency Rules.

The Company also announces the appointment of Fox-Davies Capital Limited as joint broker to the Company with immediate effect. Fox-Davies is an established investment bank that specializes in supporting growth companies in the Oil & Gas and Mining sectors internationally and is an AIM NOMAD and broker.

BOARD & MANAGEMENT Mr Greg Bandy EXECUTIVE DIRECTOR

Mr Jason Bontempo NON-EXECUTIVE DIRECTOR

Mr Stephen Brockhurst NON-EXECUTIVE DIRECTOR

Ms Rebecca Sandford Ms Shannon Robinson JOINT COMPANY SECRETARY

REGISTERED OFFICE

Ground Floor 1 Havelock Street West Perth WA 6005

POSTAL ADDRESS PO Box 1440 West Perth WA 6872

CONTACT DETAILS Tel: +61 8 9488 5220 Fax: +61 8 9324 2400

WEBSITE

www.redemperorresources.com

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

For and on behalf of the Board

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Greg Bandy Executive Director

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

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Background

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

• 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] . The operator and 60% interest holder, Horn Petroleum Corp. (TSXV: HRN) is currently drilling the first well in a two well programme targeting 300mmbls of best estimate Prospective Resources (100% basis). Site construction is nearing completion on the second well (targeting 375mmbls) with the setting of the 30 inch surface casing and drilling of a 50 meter pilot hole in readiness for spudding following completion of the first well.

• 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) previously funded a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing an estimated 2.045 billion barrels of undiscovered oil–in–place (on a mean 100% basis) with the first (Mukhiani-1) of two exploration wells having spudded in July 2011. Re-interpreted seismic supported by the Mukhiani-1 vertical seismic profiling has identified new fault and stratigraphic trapping potential with the possibility of a side track well to be drilled post additional seismic in 2H 2012.

Ground Floor, 1 Havelock Street, West Perth WA 6005 | Tel: +61 8 9488 5220 | Fax: +61 8 9324 2400 | www.redemperorresources.com ABN 99 124 734 961