Massive High-Grade Core Confirmed at Thomas

Empire Metals Limited, the AIM-quoted and OTCQX-traded exploration and development company, is pleased to announce the drilling results from the Thomas Prospect ('Thomas') at the Pitfield Project in Western Australia ('Pitfield' or the 'Project'). These results reflect the February to April 2026 drilling campaign, the most extensive programme undertaken by the Company to date. As announced previously, the campaign focussed on the high-grade titanium mineralisation within the in-situ weathered cap to increase the size and confidence of the existing Mineral Resource Estimate ('MRE').

Highlights

• Exceptional drilling results confirm the scale and continuity of the high-grade weathered central core at Thomas, which extends over an area of approximately 6.25km2 (625 hectares) and to an average depth of 47m in the in-situ weathered zone.
• 178 drill holes completed for 9,816m across the Thomas Prospect, comprising:

o 148 Air Core ('AC') drill holes for a total of 6,828 metres

o 30 Reverse Circulation ('RC') drill holes for a total of 2,988 metres

• Highest TiO2 grades reported to date, with multiple drillholes averaging close to or greater than 8% TiO2 and with a peak intercept sample of 2m @ 21.44% TiO2.
• Thomas drill hole highlights:
• 51m @ 8.79% TiO2 from 0m (AC26TOM250)
• 50m @ 8.29% TiO2 from 0m (AC26TOM278)
• 48m @ 7.90% TiO2 from 0m (AC26TOM246)
• 47m @ 7.87% TiO2 from 0m (AC26TOM279)
• 47m @ 7.77% TiO2 from 0m (AC26TOM245)
• 53m @ 7.74% TiO2 from 0m (AC26TOM280)
• Results reported today cover the Thomas Prospect only; final assays for Cosgrove Prospect and Exploration/Sterilisation remain pending, with further results expected late June and July 2026.
• These drill results will support a significant MRE upgrade which is targeted in Q3 2026 and provide the basis for future mine planning and engineering design studies.

Shaun Bunn, Managing Director, said: "The recent drill campaign, the largest undertaken at Pitfield, has delivered exceptional assay results to date and has significantly improved our understanding of the scale, continuity and exceptional titanium grades to be found within the high-grade central core of the Thomas Prospect. We have delineated a substantial block of high-grade mineralisation averaging 47m in thickness with multiple near-surface intercepts at Thomas. Several of the drilling intercepts averaged close to or above 8% TiO₂, with a peak grade of 2m @ 21.44% TiO₂, underscoring the importance of this drill programme in setting up the Company to rapidly advance its mine planning, engineering design and continuous pilot plant testwork. We look forward to demonstrating a significant MRE upgrade, which is on track for Q3 2026."

February to April 2026 Campaign

Thomas Prospect MRE Grid Drilling

The completion of the Thomas drilling and the return of all geochemical assay results is a significant event for Empire. These results will inform an updated MRE, increasing the scale and confidence level, and provide further logging and geochemical data to support the geological interpretation of the Thomas deposit.

A total of 5,039 samples were analysed at Intertek Laboratory in Perth including blanks, standards and duplicates as part of the Thomas MRE drilling programme. The samples were analysed using a four acid digest with ICP-OES finish and samples that returned >2% Ti was re-analysed with a borate fusion method to provide greater accuracy for the over range Ti values.

AC drilling at Thomas was conducted on a systematic 100m by 100m grid covering over 495 hectares predominantly across the high-grade central core previously identified by diamond drilling (announced 17 March 2026) and was designed to increase the confidence level of the existing MRE and provide key data for economic evaluation studies. RC drilling was designed to complement the AC drilling and extend the boundaries of the known mineralisation.

All AC and RC drill holes returned mineralisation open at depth, including several holes drilled south of the current resource boundary, which could therefore expand the known resource.

The geological and geochemical data generated as part of this drill programme shows that the previously reported central high-grade core of in situ weathered material is now more clearly defined with the central high-grade zone trending approximately NW-SE over 5km and a width of 1.25km. Within the high-grade core there are 120 drillholes containing >6% TiO2 across their total drilled width, the highest grade is 8.79% TiO2. The highest-grade sample intercepted at Pitfield was drilled at Thomas during this programme with a 2m interval returning 21.44% TiO2.

This high-grade central core is found where the original geology consisted of thicker sandstones with fewer interbedded siltstones. These original sandstones have been subjected to intense weathering and now consist of a saprolitic upper zone, weathered sandstone central zone and fresh sandstone bedrock below.

The drilling also denotes the grade of the resource decreasing to the east which is connected to an increased number of siltstone beds which are not mineralised and therefore dilute the overall grade of the resource. The exploration drilling carried out alongside the resource drilling has shown that there is a significant increase in siltstone further to the east. The geochemical results from this drilling is still being received and will be reported separately.

Figure 1. Drillhole collar locations (AC & RC) within Thomas Prospect priority area showing MRE outline and the high-grade central core.

Cosgrove Prospect MRE Grid Drilling Completed - Assay Results Pending

Drilling at Cosgrove consisted of 269 AC holes on a 400m x 200m drillhole spaced grid with an average depth of 45m, for a total of 12,140 metres. In conjunction with the AC drilling 41 x 100m RC holes were drilled within the grid for a total of 4,100m. The AC and RC drilling was focussed on increasing the size of the known mineral resource estimate at Cosgrove which was previously based on significantly less drillholes than at Thomas.

A total of 9189 samples have been submitted to the Intertek Laboratory in Perth and are undergoing geochemical analysis as per the Thomas samples assay regime. Final geochemical analytical results are expected in late June and will be released once QA/QC checks are complete.

Exploration/Sterilisation Drilling Completed - Assay Results Pending

A total of 226 exploration holes for a total of 8,788 metres were drilled across the whole of the Pitfield Project property. This encompassed an area 36km long and 10km wide. The purpose of the drilling was twofold: one to define the extents of the mineralisation at Pitfield and the other to identify areas for potential infrastructure where there was no mineralisation.

A total of 5028 samples have been submitted to the Intertek Laboratory in Perth and are undergoing geochemical analysis as per the Thomas samples assay regime. Final geochemical analytical results are expected in July and will be released once QA/QC checks are complete.

Next Steps

The confirmation of the extent and continuity of the high-grade central core at the Thomas Prospect, and the exceptional TiO2 grades achieved during this drill campaign, provides the Company with an excellent base from which to commence mine planning and engineering design work. With the process flowsheet now successfully tested at a bench scale (announced 11 June 2026) the next key stages of project development will include:

• detailed engineering studies, based on the current process flowsheet - by end of Q4 2026;
• an updated and expanded MRE, based on the recent drilling programme - Q3 2026;
• continued development of the TiO2 product finishing steps targeting coated rutile pigments and Ti sponge metal feedstock - by end of Q4 2026; and,
• continuous metallurgical piloting testwork of the process flowsheet - commencing Q3 2026.

Appendix 1. Drill Hole Assays for Thomas

MAR disclosure