Emerald Resources NL (ASX: EMR) ('Emerald') advises that the Company has extended the voluntary suspension in the Company's securities pending the release of an announcement regarding the determination being given by the Takeovers Panel in relation to application made by Hongkong Xinhe International Investment Company Limited regarding the recommended takeover offer for Bullseye Mining Limited.

The Company's securities will remain in voluntary suspension until the earlier of the announcement to the market or the commencement of trade on 21 January 2022.

This ASX release was authorised on behalf of the Emerald Board by: Morgan Hart, Managing Director.

Contact:

Tel: +61 8 9286 6300

Fax: +61 8 6243 0032

Web: www.emeraldresources.com.au

Forward Looking Statement

This document contains certain forward looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates and projections about the industry in which Emerald Resources operates, and beliefs and assumptions regarding the Company's future performance. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks'' 'estimates', 'potential' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known or unknown risks, uncertainties and other factors, some of which are beyond the control of the Company, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, which reflect the view of Emerald Resources only as of the date of this announcement. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Emerald Resources will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. This document has been prepared in compliance with the current JORC Code 2012 Edition and the ASX listing Rules. The Company believes that is has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any production targets and financial estimates, based on the information contained in this announcement. Reference is made to ASX Announcement dated 1 May 2017 and 26 November 2019. All material assumptions underpinning the production target or the forecast financial information continue to apply and have not materially changed. 100% of the production target referred to in this announcement is based on Probable Ore Reserves. Emerald has a highly experienced management team, undoubtedly one of the best credentialed gold development teams in Australia with a proven history of developing projects successfully, quickly and cost effectively. They are a team of highly competent mining engineers and geologists who have overseen the successful development of gold projects in developing countries such as the Bonikro Gold Project in Cote d'Ivoire for Equigold NL and more recently, Regis Resources Ltd.

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