Empire Resources : Sulphides Intersected at Yuinmery YT01 Prospect

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7 February 2022

ASX Release

SULPHIDES INTERSECTED AT YUINMERY YT01 PROSPECT

HIGHLIGHTS

Sequence of mafic-ultramafic intrusive rocks intersected in diamond drilling at YT01 Prospect (YDD22-01)

Broad zones of disseminated and vein pyrite-chalcopyrite sulphides intersected in strongly chlorite-talc altered ultramafic and basalt.

21m of 5-25% pyrite-chalcopyritesulphide domains intercepted within layered ultramafic from 239m

10m of stockwork carbonate-quartz-pyrite-chalcopyriteveinlets in silicified basalt intercepted from 169m

Logging and processing of core is ongoing with selected sampling for laboratory analysis

Downhole Electromagnetic (DHEM) geophysical surveys planned to identify potential conductors

Diamond core drilling continues at Yuinmery with hole YDD22-02 targeting a strong down plunge DHEM conductor within the Smiths Well sulphide system.

Empire Managing Director, Sean Richardson commented:

"An excellent result from the first drill hole for 2022 at the Yuinmery Project. YT01 was identified by the Company in late 2019 and has progressed well through to the diamond drilling phase. The presence of strong sulphides within ultramafic rocks demonstrates the potential for the prospect to host economic mineralisation. Further geophysical work is warranted at YT01 subject to analytical laboratory analysis.

"The diamond drilling program continues at Yuinmery in earnest with the second hole for 2022 underway (YDD22-02) targeting down plunge extensions to the Smiths Well prospect. The Company looks forward to updating the market as results from this drilling becomes available."

EMPIRE RESOURCES LIMITED	www.resourcesempire.com.au	t [phone]
ACN 092 471 513	[e-mail]
ASX: ERL	159 Stirling Highway, Nedlands WA 6009

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ASX Announcement 7 February 2022

SUMMARY

Empire Resources (ASX:ERL, Empire) advises that it has intersected two broad sulphidic zones comprising 5-25%pyrite-chalcopyrite sulphides in diamond drilling at Yuinmery.

Diamond hole YDD22-01(Figure 2) was designed to target down dip extensions to previously intercepted Cu-Ni-PGM mineralisation at the YT01 prospect of 36m @ 0.34% Cu, 0.07% Ni, 0.16% Pd, 0.03% Pt and 0.07g/t Au from 188m (YRC21-16)[1].

The upper sulphidic zone from 169m is 10m downhole width consisting of a stockwork of quartz-carbonate-pyrite-chalcopyrite veinlets in silicified basalt, minor disseminated sulphides also occur. This zone is interpreted to be the extension of the upper mineralisation zone intersected in YRC21-16.

The lower sulphidic zone from 239m is 21m downhole width comprising disseminated-matrixpyrite-chalcopyrite sulphide hosted within a layered ultramafic sequence. Weak to moderate shearing overprints the layered ultramafic.

Figure 1 - Lower Sulphide Zone YDD22-01

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These observations are preliminary in nature and estimates of sulphide minerals are visual only. Samples are currently being collected onsite for submission to a commercial laboratory for chemical analysis. Downhole Electromagnetic (DHEM) geophysical surveys are planned to test for the presence of conductors while petrographic samples will be collected for rock and mineralogy classification.

YT01 Prospect

In June 2020, RC drilling intercepted a broad zone of Cu-Ni-PGM mineralisation. YRC20-28 returned 20m @ 0.39% Cu, 0.11% Ni, 0.02% Co, 0.21g/t Pd & 0.07g/t Pt from 143m [3], including 12m @ 0.38% Cu, 0.34g/t Pd & 0.11g/t Pt from 151m.

In July 2021 [1], one 250m deep RC hole (YRC21-16,Figure 2) was drilled under YRC20-28 to test for continuity of mineralisation at depth. In the targeted downdip position, this hole intersected 36m of mineralisation assaying 0.34% Cu, 0.07% Ni, 0.16% Pd, 0.03% Pt and 0.07g/t Au. These encouraging results demand follow-up and a single deep diamond core hole (YDD22-01) has been drilled.

The geology of the YT01 Prospect is poorly understood. Information gained from YDD22-01 on mineralisation, lithology and structure will assist in future targeting at the YT01 prospect.

There is an observed zonation to the mineralisation with gold-copper predominating above 120m vertical depth, below which the mineral assemblage also includes nickel, palladium and platinum, as well as copper and gold.

Figure 2 - YT01 Prospect 687,250mE Cross Section

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Figure 3 - YT01 Drillhole Collar Locations

Base Image 2009 VTEM B_field_ch25_1641us Geophysics

The current 1,800m drilling program at Yuinmery [2] is designed to target 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.

Drilling continues at Yuinmery where hole YDD22-02 is underway at the Smiths Well Prospect. Drilling at Smiths Well is targeting the down-plunge extensions to recently encountered broad zones of mineralisation, included 16m @ 0.51% Cu, 0.16% Ni & 0.031% Co from 255m in drillhole YRC21-28[1].

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ASX Announcement 7 February 2022

This announcement is authorised for release by:

Sean Richardson

Managing Director

For further information on the Company

Phone: [phone]

www.resourcesempire.com.au

Additional Information

Further details relating to the information in this release can be found in the following ASX announcements:

1. ASX:ERL "Excellent Results from Yuinmery Drilling" 22 September 2021
2. ASX:ERL "Diamond Drilling Commences at Yuinmery" 15 December 2021
3. ASX:ERL "Encouraging Cu-Ni-PGM Mineralisation in Drilling at Yuinmery" 23 July 2020

Competent Person Statements

The information in this report that relates to Exploration Results is based on information compiled and/or reviewed by Mr Mark Shelverton, who is a Member of the Australian Institute of Geoscientists. Mr Shelverton is a full-time employee of Empire Resources and has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Shelverton consents to the inclusion in this presentation of the matters based on this information in the form and context in which they appear.

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