Emmerson's Managing Director, Rob Bills commented: 'The Golden Forty mine reportedly produced more than 50,000 ounces of gold at a high grade of 12g/t gold in the typical high value style of mineralisation seen across Tennant Creek.

Drilling at Golden Forty is aimed at adding further resources to the inventory and mine schedule ahead of establishment of the central mill by our partner TCMG. We have recently announced JORC resource estimates for Chariot and Mauretania under the Small Mines JV with partner TCMG. Providing this current program is successful, we anticipate resource additions from Golden Forty that may be amenable to future open pit mining.

Golden Forty Drill Program - drill testing for high grade gold

The Golden Forty project is within the 100% Emmerson owned Southern Project Area where our JV partner TCMG is earning an interest by funding the exploration. There are several drill targets in the vicinity of the historic Golden Forty Mine that have not seen modern exploration, and now with the completion of the high-resolution drone magnetic survey, Emmerson has identified several potential extensions to the mineralisation. These include drilling to convert the historic Golden Forty remnants to a JORC-compliant estimate, extensions to the mineralisation along strike at Golden Forty East, and some work with the CSIRO on refining the processing of the drone magnetics to better pinpoint potential targets at Golden Forty South.

This latter project has potential to add significant value across the entire Tennant Creek Mineral Field and has been awarded co-funding with the NTGS through the Geophysics and Drilling Collaboration (ASX: 10 June 2022). The historic Golden Forty Mine briefly commenced operations in 1938, however it was not until 1969 that the mine operated as a productive underground operation. Mining was via a vertical shaft to a depth of 150m and via cross-cut development and open-hole stoping on four east-west levels. Production ceased abruptly when failing ground conditions and increased water ingress prevented the safe extraction of ore. The mine was decommissioned in 1983 due to these issues - not due to a lack of ore nor declining grades. The Golden Forty Mine produced 144,056 tonnes of ore at a recovered head grade of 11.9g/t gold between 1969 and 1983 (ASX: 1 September 2008). A total of twenty-two holes (22) with a combined total depth of 4,000m will drill test the Golden Forty area. The first diamond hole has commenced at the Golden Forty East prospect and intersected ironstone which is the typical host to the mineralisation. The drilling program is anticipated to be completed in late October 2022.

Contact:

Rob Bills

Tel: +61 8 9381 7838

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Emmerson Resources Limited's anticipated future events, including future resources and exploration results, and other statements that are not historical facts. When used in this document, the words such as 'could', 'estimate', 'plan,' 'expect,' 'intend,' 'may', 'potential,' 'should,' and similar expressions are forward-looking statements. Although Emmerson believes that its expectations reflected in these forward- looking statements are reasonable, such statements involve risks, assumptions, uncertainties, and other important factors, many of which are beyond the control of the Company, and which may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Forward-looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Given these uncertainties, investors should not place undue reliance on forward-looking statements. The Company cautions investors against using this announcement solely as a basis for investment decisions without regard for this disclaimer.

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