Empire Metals Limited Announces Eclipse Mining Licence Sale Extension

Rhea-AI Summary

Empire Metals (OTCQX:EPMLF) has agreed a one‑month extension to 30 April 2026 for the sale of its 75% interest in the Eclipse Mining Licence to allow the purchaser extra time for due diligence after delayed assay results.

The purchaser drilled 10 RC holes (514 metres). A non‑refundable deposit of A$50,000 has been received and a balance of A$700,000 is due on settlement, subject to satisfactory due diligence. The sale supports Empire's strategy to divest non‑core assets and focus capital on the Pitfield Titanium Project.

Positive

• A$50,000 non‑refundable deposit received
• Potential A$700,000 balance due at settlement
• Purchaser completed 10 RC holes totaling 514 metres
• Sale aligns with strategy to divest non‑core assets

Negative

• Assay laboratory delays forced due diligence extension
• Sale extended one month to 30 April 2026
• Balance payment contingent on satisfactory due diligence

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

LONDON, UK / ACCESS Newswire / March 31, 2026 / Empire Metals Limited,the AIM-quoted and OTCQX-traded exploration and development company, notifies the market that the sale of its 75% interest in the Eclipse Mining Licence ("Eclipse ML") has been extended by one month to 30 April 2026, with the purchaser granted additional time to complete due diligence following delays to drilling assay results.

The sale of Empire's 75% interest in the Eclipse ML is ongoing. The extension reflects the following:

• The purchaser has completed a drill programme, with a total of 10 RC holes drilled for 514 metres.

• Assay results have been delayed due to longer laboratory turnaround times than anticipated, and the purchaser requires additional time to complete their analysis.

• As per the RNS dated 30 December 2025, A$50,000 non-refundable deposit has been received, with the balance of A$700,000 due at settlement, pending successful due diligence.

The Eclipse ML sale is consistent with Empire's strategy to divest non-core assets and focus capital on the Pitfield Titanium Project.

Market Abuse Regulation Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

**ENDS**

For further information please visit www.empiremetals.co.uk or contact:

Empire Metals Ltd Shaun Bunn / Greg Kuenzel / Arabella Burwell	Tel: 020 4583 1440
S. P. Angel Corporate Finance LLP (Nomad & Joint Broker) Ewan Leggat / Adam Cowl	Tel: 020 3470 0470
Canaccord Genuity Limited (Joint Broker) James Asensio / Christian Calabrese / Charlie Hammond	Tel: 020 7523 8000
Shard Capital Partners LLP (Joint Broker) Damon Heath	Tel: 020 7186 9950
Tavistock (Financial PR) Emily Moss / Josephine Clerkin	empiremetals@tavistock.co.uk 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Empire Metals Limited

View the original press release on ACCESS Newswire

FAQ

Why did Empire Metals (EPMLF) extend the Eclipse ML sale to 30 April 2026?

The extension allows extra time for purchaser due diligence after delayed assay turnaround. According to the company, laboratory delays on assay results required more time to complete analysis before settlement.

What drilling work did the purchaser complete on the Eclipse Mining Licence for EPMLF?

The purchaser completed a drill programme of 10 RC holes for a total of 514 metres. According to the company, those holes are the subject of assays now delayed by longer laboratory turnaround times.

What are the payment terms for the Eclipse ML sale announced by Empire Metals (EPMLF)?

A non‑refundable deposit of A$50,000 has been received, with a balance of A$700,000 due at settlement. According to the company, the final payment is conditional on successful due diligence.

How does the Eclipse ML sale fit Empire Metals' (EPMLF) broader strategy?

The sale is intended to divest a non‑core asset and free capital for Pitfield Titanium. According to the company, proceeds will help focus resources on the Pitfield Titanium Project.

Does the extension to 30 April 2026 change the status of the Eclipse ML transaction for EPMLF shareholders?

The extension only gives the purchaser additional time to complete due diligence; the sale remains ongoing. According to the company, the extension follows assay delays and does not alter deposit or payment terms.