EMU NL (EMU or the Company) to provide an announcement of interpreted results from Fixed Loop Electromagnetic (FLEM) surveys recently completed at its Graceland and Viper Nickel-Copper-PGE Projects, both located in the WA wheatbelt near Hyden and Jerramungup respectively. EMU's systematic and highly successful exploration approach which included reprocessing magnetic data, auger drilling for soil geochemistry, rock chip sampling, mapping and FLEM geophysics surveys have established coincident anomalies representing very promising drill targets at both Graceland and Viper projects. Significantly, soil geochemistry and geophysical magnetic anomalies coincide at each project, thereby elevating confidence in the targets.

Planning is underway for a 2,500 – 3,000m RC drill programme to test these highly prospective targets in second quarter of 2022. Graceland Project - EMU engaged its geophysical consultants. Resource Potentials, to undertake reprocessing of EMU's magnetic data to obtain clearer resolution of the anomalous magnetic feature which lies "blind", under cover and beneath an active farming property.

The results of this work identified a potential mafic-ultramafic unit which is also coincident with a regional gravity high. EMU completed a 3 loop FLEM survey during February, targeting bedrock magmatic nickel sulphide mineralisation. The processed EM data delineated a series of significant EM conductors located along the eastern margin of the interpreted ultramafic (magnetic) unit which, significantly, are further coincident with auger soil nickel, copper and chrome geochemical anomalism.

The multi-element geochemical distribution was identified by EMU in 2021 following a systematic auger drilling programme. EMU will target the relatively shallow EM conductors at Graceland with a planned approximately 2,500m RC drilling programme designed to test for nickel sulphide mineralisation. EMU will extend the cover of the FLEM geophysical surveying with the completion of an additional (single loop) FLEM to add additional definition for drill positioning.

Following the success of the geophysics work in early 2022, EMU applied for an additional exploration licence totaling 10 blocks, contiguous to the Graceland Project. This new application area also has the characteristic regional gravity and aeromagnetic properties considered prospective for nickel mineralisation. Viper Project - A single loop FLEM geophysical survey was completed at the Viper Project covering the historic Netty Copper Mine and surrounding areas including the parallel mafic dyke system and multielement geochemical anomalism delineated in EMU's successful auger drilling programme in 2021.

Three EM conductors have been delineated, two of which are coincident with elevated copper and nickel occurrences identified in the auger soil geochemistry. EMU has planned an initial approximately 500m RC drilling programme targeting the three shallow EM conductors for nickel sulphide mineralisation. EMU will also drill to test extensions of the mineralised zones beneath the historic high-grade Netty Copper Mine looking for zones of broad disseminated copper and seeking a greater understanding of the setting and mineralisation style.