Empire Resources advised that it has received the first batch of results from its recently completed AC drilling campaign at its 100% owned Penny's Gold Project 45km east of Kalgoorlie in Western Australia. The Penny's Gold Project targets lie immediately adjacent to and along strike of the existing 270,000t @ 4.99g/t Au for 43,000oz Resource at the Penny's Find Gold Mine. Empire is entitled to royalties on gold production from mining operations undertaken at the Penny's Find Gold Mine which is currently owned by Horizon Minerals Limited.

Empire completed 69 air core holes for 5,289m, testing multiple gold prospects including previously drilled aircore gold anomalies, aeromagnetic structural trends and historic MMI anomalies. The first batch of assays returned multiple mineralised intervals including high- grade gold ±arsenic; the final batch of assays are expected to be reported early November. Drilling at PF07 and PF09 intersected basalt with a fine spinifex texture locally and domains of mafic schist.

The weathering profile ranged from 30-130m thick. Gold was intersected in regolith and in end of hole lithology associated with quartz veining, pyrite<2% and foliated basalt. Final assays results from recently completed diamond drilling holes YDD22-06 at Smiths Well and YDD22-07 at YT01 Prospect have been received.

Downhole Electromagnetic (DHEM) geophysical surveys have also been completed. Diamond drillhole YDD22-06 at Smiths Well intersected 5.5m of disseminated pyrrhotite- chalcopyrite-pyrite sulphides from 357.0m downhole. Assay results include: 5.46m @ 0.25% Cu from 365.54m, including 0.25m @ 0.75% Cu from 366.9m, and 0.3m @ 0.64% Cu from 370.15.

DHEM surveys completed on holes YDD22-05 and YDD22-06 at Smiths Well to determine the extent of the sulphide conducting bodies. The DHEM surveys confirmed the extents of the conductor down plunge of the existing drilling. Diamond drillhole YDD22-07 at YT01 confirms previously intercepted sulphide mineralisation.

The lithologies intercepted are similar to those encountered in previous drilling which includes zones of disseminated chalcopyrite and stringer sulphides (chalcopyrite-pyrite) in altered basaltic rocks. Assay results include: 8.0m @ 0.33% Cu & 0.1g/t Au from 292m, including 1.2m @ 0.65% Cu & 0.2g/t Au from 294.3m. DHEM surveys completed at YT01 did not detect the presence of sufficiently conductive bodies.

Empire will continue to explore YT01 for extensions of previously identified mineralisation along strike.