Empire Resources : Excellent Assay Results from Smiths Well

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ASX Announcement 2 March 2022

SUMMARY

Empire Resources (ASX:ERL, Empire) advises that it has completed the diamond drilling program at its Yuinmery Project [2]. A total of five holes were drilled for 1,427.6m targeting extensions to mineralisation at Smiths Well, YT01 and Constantine prospects where highly encouraging copper-gold,copper-nickel-cobalt and platinum group metals were encountered in recent deep RC drilling in July 2021 [3].

Results from a priority batch of twenty (20) assays have been received from Empire's preferred commercial laboratory. The priority submission encompassed 17.6m of the previously reported 30m of massive to disseminated pyrrhotite-chalcopyrite-pyritesulphides [1] in diamond hole YDD22-02 at the Smiths Well prospect. The 17.6m returned 0.70% Cu, 0.21% Ni & 0.04% Co from 286m, including 2m @ 1.79% Cu, 0.18% Ni & 0.03% Co from 287m and 1m @ 1.09% Cu, 0.18% Ni & 0.04% Co from 294m.

Results for the remaining 12.4m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides observed in YDD22-02, along with other samples collected from YDD22-01 (YT01) and YDD22-02 are included in the assay batch due in April 2022.

The final batch of samples from diamond holes YDD22-03 (Smiths Well) and YRCD21-21 (Constantine) have been collected and submitted for laboratory analysis. Assay results from the final batch of samples is anticipated to be received in May 2022.

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Figure 2 - Smiths Well Oblique Cross Section YDD22-02

Visual estimates of sulphide abundance are based on the Company's sulphide field logging guideline (Table 3). Visual estimates of sulphide mineral abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory analysis is required to determine the widths and grades of visual sulphide estimates.

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Figure 3 - January 2022 DHEM Conductors & Drill Collars

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