Future Metals NL — Capital/Financing Update 2011

May 25, 2011

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25 May 2011

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

By E‐ Lodgement

Red Emperor to List on AIM

Red Emperor Resources NL (ASX: RMP) is pleased to advise that it has today lodged its “Pre‐admission Announcement” for the admission of the Company's ordinary shares to trade on the AIM market of the London Stock exchange ("AIM Admission"). Allowing for the required 20 business day notice period, it is anticipated that the Company will be admitted to AIM on or about 23 June 2011.

Cairn Financial Advisers LLP has been appointed as the Company's Nominated Adviser and Old Park Lane Capital plc has been engaged as the Company's AIM Broker.

The Company's ordinary shares will continue to be listed and trade on the ASX.

As part of the AIM Admission process, the Directors and their associates have agreed not to dispose of any of their securities currently held in the Company for one year from date of admission to AIM.

Further information is contained in the AIM Pre Admission Announcement and Appendix that have been submitted to the London Stock Exchange and will be available on Red Emperor’s website at www.red‐emperor.com following release by AIM.

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 in 2011. These two exploration areas cover nearly 40,000km[2] and have independently been assessed to potentially contain over 19.5 billion barrels of oil in‐place. Red Emperor’s joint venture partner and PSA operator Africa Oil Corp. (TSXV: AOI) has signed a letter of intent with a drilling subcontractor and expects the first well to be drilled in Dharoor in Q3, 2011.

• 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 (ASX: RRS; AIM: RRL) recently completed a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing

945 Wellington Street West Perth Western Australia 6005 PO Box 1263 West Perth Western Australia 6872 Telephone: +61 8 9322 7600 Facsimile: +61 8 9322 7602 Website: www.red‐emperor.com Email: admin@red‐emperor.com

an estimated 2.045 billion barrels of oil‐in‐place (on a mean 100% basis). Mobilisation has commenced with the first exploration well due to spud June 2011.

• In Western Australia, Red Emperor has a 25% free carried interest in the Jillawarra Project. The project consists of three mining tenements and covers part of the Mingah Range Greenstone Belt which is located between 50‐75km WNW of Meekatharra, within the Meekatharra Mineral Field in the Murchison Province of Western Australia.

945 Wellington Street West Perth Western Australia 6005 PO Box 1263 West Perth Western Australia 6872 Telephone: +61 8 9322 7600 Facsimile: +61 8 9322 7602 Website: www.red‐emperor.com Email: admin@red‐emperor.com