Emerald Resources NL (ASX: EMR) ('Emerald' or 'Company') refers to its previous announcements in relation to the recommended and unconditional takeover bid for all of the issued shares of Bullseye Mining Limited (Bullseye) that it does not already own (Offer).

The Offer is unconditional and remains open for acceptance, as such Emerald encourages all Bullseye shareholders who are yet to accept the Offer made to them to do so and reminds them they will be issued with their Emerald shares within 10 business days of their acceptance being processed in accordance with the terms of the Offer. Emerald notes that any Bullseye shareholder who accepts the Offer and disposes of any of the Emerald shares issued to them as consideration, is deemed to have forfeited their withdrawal rights.

Emerald has today resolved to extend the closing date of the Offer to 5.00pm (AWST) on Friday 5 April 2024 (subject to further extensions to be made by Emerald to ensure the Offer remains open until 5:00pm (AWST) on the date that is 10 business days after the date of Bullseye's Supplementary Target's Statement). Emerald refers to today's update from Bullseye in relation to the timing of the release of the Supplementary Target's Statement (which includes the independent expert's report) (refer www.bullseyemining.com.au) which is expected no later than 5 April 2024. Further details regarding the effect of the Takeovers Panel Orders are set out in the Company's announcement dated 9 October 2023.

Emerald will update the market regarding further extensions to the closing date of the Offer and exercise of withdrawal rights once the Supplementary Target's Statement has been released. Attached to this announcement is a formal notice under section 650D of the Corporations Act 2001 (Cth) (Corporations Act) in relation to extension of the closing date. This ASX release was authorised on behalf of the Emerald Board by: Morgan Hart, Managing Director.

Contact:

Tel: +61 8 9286 6300

Fax: +61 8 6243 0032

Web: www.emeraldresources.com.au

Forward Looking Statement

This document contains certain forward looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates and projections about the industry in which Emerald Resources operates, and beliefs and assumptions regarding the Company's future performance. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks'' 'estimates', 'potential' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known or unknown risks, uncertainties and other factors, some of which are beyond the control of the Company, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, which reflect the view of Emerald Resources only as of the date of this announcement. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Emerald Resources will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. This document has been prepared in compliance with the current JORC Code 2012 Edition and the ASX listing Rules. The Company believes that is has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any production targets and financial estimates, based on the information contained in this announcement. Reference is made to ASX Announcement dated 1 May 2017, 26 November 2019 and 31 August 2023. All material assumptions underpinning the production target or the forecast financial information continue to apply and have not materially changed. 100% of the production target referred to in this announcement is based on Probable Ore Reserves. Emerald has a highly experienced management team, undoubtedly one of the best credentialed gold development teams in Australia with a proven history of developing projects successfully, quickly and cost effectively. They are a team of highly competent mining engineers and geologists who have overseen the successful development of gold projects in developing countries such as the Bonikro Gold Project in Cote d'Ivoire for Equigold NL and more recently, Regis Resources Ltd

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