Empire Resources Limited announced that it has intersected 22.38m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 328.42m in diamond drillhole YDD22-04 and 11.33m of massive to disseminated pyrrhotite-chalcopyrite-pyrite sulphides from 386.12m in diamond drillhole YDD22-05 at the Smiths Well prospect, Yuinmery. Diamond hole YDD22-04 (Figure 1) was designed to target the strong conductor modelled from downhole electromagnetic (DHEM) surveys completed in March 2022. The sulphide intercept is interpreted to be a down plunge extension to the Smiths Well mineralisation, where 30.1m @ 0.60% Cu, 0.17% Ni & 0.034% Co was recently intersected in drillhole YDD22-02.

Diamond hole YDD22-05 was designed to test the limits of the modelled DHEM conductor approximately 60m down plunge from YDD22-04. The massive to disseminated intercepts lie within an interpreted mafic sequence comprising coarse grained gabbroic rocks with very coarse grained (glomeroporphyritic) domains and horizons dominated by ferromagnesium minerals and dolerite. Basalt occurs in the footwall of the mineralisation.

The highly conductive copper-nickel-cobalt horizon is interpreted to occur in the mafic sequence proximal to the basalt contact. YDD22-03 Assay Results: Assay results for YDD22-03 drilled at Smiths Well during the March 2022 quarter have been received from Empire's preferred commercial laboratory. YDD22-03 intercepted three zones of mineralisation.

Assay results include: 1.25m @ 0.20% Cu, 0.21% Ni & 0.041% Co from 215.35m. 10m @ 0.65% Cu & 0.10g/t Au from 253m including 0.7m @ 1.26% Cu & 0.20g/t Au from 255.3m and 0.9m @ 1.13% Cu & 0.15g/t Au from 258.7m. 2m @ 0.80% Cu & 0.17g/t Au from 313m including 1m @ 1.19% Cu & 0.23g/t Au from 314m.

The upper copper-nickel-cobalt horizon intercepted at 215.35m is associated with semi-massive sulphide, primarily fine pyrrhotite with lesser pyrite and chalcopyrite similar to the highly conductive copper-nickel-cobalt zone. While this interval has copper-nickel-cobalt chemistries similar to the highly conductive zone the relationship between the two is unclear at present. The strongly mineralised 10m @ 0.65% Cu & 0.10g/t Au from 253m is considered to be a separate copper-gold horizon located below the highly conductive copper-nickel-cobalt horizon.

The intersection occurs within a broader 18m wide zone of copper anomalism. Chalcopyrite is the main sulphide mineral present, occurring as net textured and disseminations in quartz-carbonate-sericite-pyrite veins hosted in Gabbro. The third mineralised zone from 313m is associated with fine crackle brecciation with silica- carbonate matrix, silicification and aggregates of fine magnetite in a ferromagnesium section of the gabbro.

Chalcopyrite is the main sulphide mineral and predominately occurs within the mafic clasts as disseminations or net textured. Mineralisation is likely the result of brittle deformation in the less ductile lithologies. FORWARD PLAN: Samples from YDD22-04 and YDD22-05 have been collected and submitted for laboratory analysis.

Assay results from the YDD22-04 and YDD22-05 batch of samples is anticipated to be received during the June Quarter. Diamond drillhole YDD22-06 at Smiths Well has also been completed, targeting the down dip extents to the modelled DHEM plate conductor and to test for the presence of the new copper- gold horizon identified in diamond hole YDD22-03. Logging of YDD22-06 is ongoing.

Drilling continues at Yuinmery with drill hole YDD22-07 at YT01 testing down dip extensions to mineralisation intercepted in diamond drillhole YDD22-01. Samples will be collected and submitted for petrographic analysis to characterise the host geology and sulphide mineralogy. The Company will also investigate petrophysical testing of drill core to assist in optimising geophysical techniques and further refine data processing.

Geophysical surveys, including the use of downhole electromagnetic (DHEM) will continue to be used to plan and target drilling. Geophysical surveys will commence as soon as a geophysical crew is available.