Empire Metals Limited announced that the terms of the Joint Venture Agreement ('JV') covering the Pitfield Project in Western Australia (Pitfield or the Project) have been amended to include all minerals discovered within the Project tenements. Under the revised terms of the 70% Empire and 30% Century Minerals Pty Ltd., there are no exemptions or other separate mineral rights applying to Pitfield. The consolidation of all minerals under the one JV simplifies the ownership structure and eliminates the potential for multiple parties to be working on the same ground, exploring for different commodities and allows for the continued rapid development of Pitfield.

Under the original terms of the Sale and Purchase Agreement (dated 6th April 2022) Century retained 100% of the rights to Mineral Sands and the JV retained 100% of all mineral rights to any and all bedrock mineral deposits, inclusive of titanium minerals. Although both Empire and Century have made it clear that the titanium mineralisation discovered at Pitfield, hosted within the bedded sedimentary bedrock, was not classified as Mineral Sands and thus formed part of the existing JV property, the consolidation of all minerals under the JV prevents other potential third parties in the future from exploring for other minerals and allows for the continued and unencumbered development of Pitfield. Under the amended agreement, Empire has secured a redefinition of rights at the Pitfield Project, to 70% of all minerals present regardless of their physical or chemical nature, for a consideration of AUD 250,000 (approximately £129,000).

This investment is aimed at continuing to create value for all shareholders. The consideration will be funded from existing cash reserves and will not impact the Company's strong financial position and fully funded work programmes. Located within the Mid West region of Western Australia, near the northern wheatbelt town of Three Springs, Pitfield lies just 313km north of Perth and 156km south of Geraldton, the Mid West region's capital.

Western Australia is ranked as one of the top mining jurisdictions in the world according to the Fraser Institute's Investment Attractiveness Index published in 2023, and has mining-friendly policies, stable government, transparency, and advanced technology expertise. Pitfield has existing connections to port (both road & rail), HV power substations, and is nearby to natural gas pipelines as well as a green energy hydrogen fuel hub, which is under planning and development. Pitfield lies in a unique geological setting along the western boundary of the Yilgarn Craton, within the Yandanooka Basin which consists mainly of interbedded siliciclastic sedimentary rocks.

Importantly, the Yandanooka Basin lies near the junction of two major structures, the Darling Fault and Yandanooka-Cape Riche Lineament, the likely plumbing system for the hydrothermal fluids that have strongly altered the sedimentary rocks within the Basin and were responsible for the titanite mineralisation event. The drilling to date has confirmed that there is extensive, higher-grade TiO2 mineralisation in the thick sandstone-rich beds, which are returning consistently higher-grade TiO2 mineralisation than the adjacent conglomerate or siltstone-rich beds. Two, near-surface, km-scale zones of higher grade bedded sandstone-rich TiO2 mineralisation have been identified and are the focus of delineation for initial resource development and to provide necessary metallurgical samples.