The Conversation (0)
The Board of Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the resource exploration and development company, would like to respond to recent sharp decline in the Company's share price and would like to clarify that there has been no material change to the Company's operational or financial position to account for this movement. The Board remains confident in the Company's strategy, the progress being made at the Pitfield Titanium Project and the long-term value proposition for shareholders.
Empire continues to advance technical and commercial workstreams to unlock the Project's full potential and will update the market in due course on further developments. The Company is well funded to achieve upcoming milestones, underpinned by £4.5m fundraising in Q2 2025 and as at 30 June 2025 the Company's cash position was £6.3m.
Overview
- Maiden Mineral Resource Estimate on track for release in October 2025.
- The maiden MRE will provide a platform for mine scoping studies.
- Expanded metallurgical testwork and optimisation programmes are underway, leading to continuous pilot-scale operations.
Shaun Bunn, Managing Director, commented:
"Empire has achieved exceptional progress at Pitfield in a very short time and its operational trajectory continues to impress. The combination of outstanding drill results, breakthrough metallurgy, and further injection of capital in May has transformed the Company. These fundamentals remain unchanged and continue to strengthen. Pitfield is now firmly established as a project of global significance, with a unique combination of scale, grade and processing simplicity that sets it apart from other titanium projects worldwide.
"We look forward to sharing further milestones in the coming weeks as we add further tangible value to the Company through the delineation of a maiden MRE at Pitfield."
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQX-traded exploration and resource development company (LON: EEE, OTCQX: EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiOâ‚‚) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiOâ‚‚ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
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. For further information, please contact rns@lseg.com or visit www.rns.com.
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