Empire Metals Limited Announces GBP8m Subscription by Institutional Shareholders

About this update from Empire Metals Limited

LONDON, UK - Empire Metals Limited ('Empire' or 'the Company') (LON: EEE) (OTCQX: EPMLF), the AIM-quoted and OTCQX-traded resource exploration and development company, is pleased to announce that it has raised gross proceeds of GBP8 million by way of a subscription of 26,666,667 new ordinary shares of no par value in the capital of the Company at a price of 30 pence per ordinary share (the 'Subscription Shares') to existing institutional shareholders (the 'Subscription'). Highlights Subscription raises gross proceeds of GBP8 million from existing institutional shareholders Pro-forma cash position circa GBP14.5 million on completion Proceeds will fund key value accretive workstreams including Mineral Resource Estimate ('MRE') updates and mine planning work, metallurgical batch and continuous pilot scale testwork and engineering and economic studies Product development testwork and marketing studies advancing, focusing on the TiO2 rutile pigment and titanium sponge metal markets ASX dual listing on track for H2 2026, with Canaccord Genuity (Australia) to act as lead adviser Shaun Bunn , Managing Director, said: 'Existing institutional investors increasing their positions reflects strong support for our strategy and the progress at Pitfield. With momentum across all workstreams and our ASX dual listing on track for H2 2026, this investment underpins the strategic value of a high-grade titanium project of Pitfield's quality and scale in a Tier-1 jurisdiction.' Use of Proceeds The proceeds will allow acceleration of current development work at Pitfield and fund Empire's development studies, principally Engineering and economic studies - mining, process plant, infrastructure and energy workstreams Resource growth - MRE expansion drilling and classification upgrade Product and market development - pilot-scale production and offtake engagement with TiO2 pigment and titanium metal end-users Corporate - ASX listing costs and general working capital Application for Admission and Total Voting Rights The Subscription Shares will rank pari passu in all respects with the existing ordinary shares of no par value in the capital of the Company. Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective at 8:00 a.m. on 15 May 2026 . As a result of the issue of the Subscription Shares as described above, the issued share capital of the Company now consists of 757,559,888 ordinary shares of no-par value. Contact: Shaun Bunn Tel: 020 4583 1440 Ewan Leggat Tel: 020 3470 0470 Emily Moss Email: [email protected] 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. (C) 2026 Electronic News Publishing, source ENP Newswire

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