Business
Execution of SPA for Eclipse Mining Lease
Empire Metals Limited has executed a definitive sale and purchase agreement for its 75% interest in the non-core Eclipse Mining Lease for a total consideration of A$750,000, comprising a A$50,000 deposit already received and A$700,000 payable on completion. This divestment aligns with the company's strategy to focus capital and management resources on advancing the Pitfield Titanium Project, a significant global titanium discovery. Completion of the sale is anticipated in the near term, subject to customary conditions precedent. Disclaimer*
About this update from Empire Metals Limited
[{"type":"text","content":"\n\nEmpire Metals Limited / LON: EEE, OTCQX: EPMLF / Sector: Natural Resources\n \n \n19 May 2026\nEmpire Metals Limited\n(\"Empire\" or \"the Company\")\n \n Execution of Sale and Purchase Agreement for Eclipse Mining Lease\n \nEmpire Metals Limited (AIM: EEE | OTCQX: EPMLF), 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 executed a definitive sale and purchase agreement (the \"Sale Agreement\") for the sale of its 75% interest in the Eclipse Mining Lease (\"Eclipse ML\"), a non-core gold asset located near Kalgoorlie, Western Australia, on the terms previously announced.\n \nHighlights\n· Definitive Sale Agreement executed for the disposal of Empire's 75% interest in the Eclipse ML.\n· Total consideration for Empire's 75% interest payable is A$750,000, including a A$50,000 non-refundable deposit already received and A$700,000 payable in cash on completion.\n· The Eclipse ML sale is consistent with Empire's strategy to divest non-core assets and focus capital and management resources on advancing the Pitfield Titanium Project, in Western Australia.\n \nShaun Bunn, Managing Director, said: \"We are pleased to confirm execution of the definitive sale and purchase agreement for Empire's 75% interest in the Eclipse Mining Lease. The transaction allows the Company to direct capital and management focus to advancing the Pitfield Titanium Project, one of the largest titanium discoveries globally. Completion of the sale is expected in the near term, subject to satisfaction of the remaining conditions.\"\n \nBackground\nAs announced on 30 December 2025, Empire's wholly-owned Australian subsidiary entered into a conditional sale agreement for its 75% interest in mining lease M27/153 (Eclipse ML), held in joint venture with the holder of the remaining 25% interest. The agreement included a three-month exclusivity and due diligence period, which was extended by one month on 31 March 2026 to enable the purchaser to complete its analysis of assay results from a 10-hole, 514-metre RC drilling programme carried out at the Project during the due diligence period.\n \nSale Terms\nKey terms of the Sale Agreement includ...