REG - Empire Metals Ltd - Conditional Sale of 75% of Eclipse Gold Project

Empire MetalsAnnouncement

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RNS Number : 0285N  Empire Metals Limited  30 December 2025

Empire Metals Limited / LON: EEE, OTCQX: EPMLF / Sector: Natural Resources

 

 30 December 2025

Empire Metals Limited

("Empire" or "the Company")

 

Conditional Sale of 75% Interest in Eclipse Gold Project

 

Empire Metals Limited (AIM: EEE | OTCQX: EPMLF), the AIM-quoted and
OTCQX-traded exploration and development company, is pleased to announce that
it has entered into a conditional sale and purchase agreement for its 75%
interest in the Eclipse Mining Lease ("Eclipse ML" or the "Project"), a
non-core gold asset located near Kalgoorlie, Western Australia.

 

The agreement includes a three-month exclusivity and due diligence period,
during which the proposed purchaser will complete technical and commercial due
diligence on the Project.

 

Highlights

 

·    Conditional sale of Empire's 75% interest in the Eclipse ML, a
non-core gold asset

·    Purchaser is a reputable Western Australian mining services company
operating in the Kalgoorlie region

·    Total consideration of A$750,000 cash for Empire's interest, subject
to successful completion of due diligence

·    Transaction supports Empire's strategy to focus capital and resources
on the Pitfield Titanium Project

 

Shaun Bunn, Managing Director, said: "This conditional sale represents a
further step in our strategy to streamline the portfolio and focus management
attention and capital on advancing the Pitfield Project. Eclipse is a non-core
asset for Empire, and this transaction provides an opportunity to unlock value
while reducing ongoing holding and resourcing costs. We look forward to
progressing the due diligence phase with the purchaser."

 

The Eclipse ML Project

The Eclipse ML is a small granted mining lease located near Kalgoorlie,
Western Australia, which has historically been subject to gold exploration. As
part of its broader portfolio rationalisation strategy, Empire has been
actively reviewing options to reduce exposure to non-core assets and is
pleased to have entered into an exclusivity arrangement with the purchaser in
respect of its interest in the Project.

 

Sale Terms

Key terms of the conditional sale agreement include:

·      The sale relates to Empire's 75% interest in mining lease M27/153
(Eclipse ML)

·      The agreement includes a three-month exclusivity and due
diligence period

·    During the exclusivity period, the purchaser may conduct a small RC
drilling programme as part of its due diligence

·      Total consideration of A$750,000 for Empire's 75% interest,
comprising:

o  A$50,000 non-refundable cash deposit, payable within five days of
execution of the agreement; and

o  A$700,000 cash payable on completion, following successful due diligence

 

Next Steps

The anticipated next steps are as follows:

·     The due diligence period last three months, to be conducted by the
Purchaser.

·    A Program of Works has been submitted to the Department of Mines,
Petroleum and Exploration (DMPE) to support a small drill campaign, to be
funded by the Purchaser

·     Subject to a successful due diligence period, settlement is
expected to occur in early April.

·   Empire continues to review options for other non-core assets,
consistent with its strategy to accelerate development activities at the
Pitfield Project.

 

**ENDS**

 

For further information please visit www.empiremetals.co.uk
(http://www.empiremetals.co.uk) or contact:

 

 Empire Metals Ltd                                              Tel: 020 4583 1440

 Shaun Bunn / Greg Kuenzel / Arabella Burwell

 S. P. Angel Corporate Finance LLP (Nomad & Joint Broker)      Tel: 020 3470 0470

 Ewan Leggat / Adam Cowl

 Canaccord Genuity Limited (Joint Broker)                      Tel: 020 7523 8000

 James Asensio / Christian Calabrese / Charlie Hammond

 Shard Capital Partners LLP (Joint Broker)                     Tel: 020 7186 9950

 Damon Heath

 Tavistock (Financial PR)                                      empiremetals@tavistock.co.uk (mailto:empiremetals@tavistock.co.uk)

 Emily Moss / Josephine Clerkin                                Tel: 020 7920 3150

 

 

 

About Empire Metals Limited

Empire Metals Ltd (AIM: EEE and OTCQX: EPMLF) is an exploration and resource
development company focused on the commercialisation of the Pitfield Titanium
Project, located in Western Australia.  The titanium discovery at Pitfield is
of unprecedented scale and hosts one of the largest and highest-grade titanium
resources reported globally, with a Mineral Resource Estimate (MRE) totalling
2.2 billion tonnes grading 5.1% TiO₂ for 113 million tonnes of contained
TiO₂.

 

Titanium mineralisation at Pitfield occurs from surface and displays
exceptional grade continuity along strike and down dip. The MRE extends across
just 20% of the known mineralised footprint, providing substantial potential
for further resource expansion.

 

Conventional processing has already produced a high-purity product grading
99.25% TiO₂, suitable for titanium sponge metal or pigment feedstock. With
excellent logistics and established infrastructure, Pitfield is strategically
positioned to supply the growing global demand for titanium and other critical
minerals.

 

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