Completion of Sale of Eclipse Mining Lease
Empire Metals Limited has completed the sale of its 75% interest in the non-core Eclipse Mining Lease for a total consideration of A$750,000 cash, comprising a A$50,000 deposit and A$700,000 received upon completion. This divestment aligns with the company's strategy to focus capital and resources on advancing the Pitfield Titanium Project. Empire no longer holds any interest in the Eclipse ML and continues to review other non-core assets.
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Empire Metals Limited, the AIM-quoted and OTCQX-traded exploration and development company, is pleased to announce that its wholly-owned Australian subsidiary, Empire Metals Australia Pty Ltd, has completed the sale of its 75% interest in the Eclipse Mining Lease ("Eclipse ML"), a non-core gold asset located near Kalgoorlie, Western Australia, following satisfaction of all conditions precedent under the previously announced sale and purchase agreement (the "Sale Agreement").
Highlights
| • | Completion of the disposal of Empire's 75% interest in the Eclipse ML, on the terms previously announced. |
| • | Total consideration of A$750,000 cash, comprising the A$50,000 non-refundable deposit previously received and the balance of A$700,000 received by the Company on completion. |
| • | The disposal completes the rationalisation of this non-core asset and is consistent with Empire's strategy to focus capital and management resources on advancing the Pitfield Titanium Project. |
Shaun Bunn, Managing Director, said: "We are pleased to confirm completion of the sale of our 75% interest in the Eclipse Mining Lease. With all conditions now satisfied and the consideration received in full, this transaction concludes the divestment of a non-core asset and allows us to direct our full attention and resources to advancing the Pitfield Titanium Project."
Background
As announced on 30 December 2025, Empire entered into a conditional sale and purchase agreement for its 75% interest in mining lease M27/153 (Eclipse ML), held in joint venture with the holder of the remaining 25% interest, for total cash consideration of A$750,000. On 15 May 2026 the Company announced that the definitive Sale Agreement had been executed.
All conditions precedent under the Sale Agreement have now been satisfied and the sale has completed, with the balance of the cash consideration received by the Company. Following completion, Empire no longer holds any interest in the Eclipse ML.
Empire continues to review options for other non-core assets, consistent with its strategy to accelerate development activities at the Pitfield Titanium Project.
MAR disclosure
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.