Mr. Mark Patchett reports

EMPIRE CLOSES $220,000 FINANCING

Empire Metals Corp. has closed its previously announced private placement financing of 3,666,666 units at six cents per unit for proceeds of $220,000. Each unit comprises one common share and one five-year transferable warrant, with each warrant entitling the holder to purchase one additional share at a price of eight cents per share. Of the proceeds, $144,000 was issued on a flow-through basis. The flow-through shares comprising the 2.4 million flow-through units and 2.4 million flow-through shares issuable upon exercise of the warrants comprising the flow-through units will entitle holders to receive tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada).

Participation by one insider of Empire, for 166,667 units or $10,000, comprising 4.5 per cent of the total amount raised, constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Empire is relying on the exemptions contained in sections 5.5(a) and 5.7(1)(a) as the fair market value of the participation in the private placement by the insider does not exceed 25 per cent of the market capitalization of Empire, as determined in accordance with MI 61-101. Empire's board of directors and specifically the independent members of the board, as applicable, reviewed and approved the private placement subscription by the insider. Empire did not file a material change report in respect of the related party transaction at least 21 days before closing of the private placement as the date of closing was not previously known.

Proceeds of the financing will be used to finance exploration and pay debt and for working capital and corporate purposes. The terms of the financing have been accepted for filing by the TSX Venture Exchange. The units are restricted from trading until April 29, 2024.

Empire is a Canadian exploration and development company. Empire holds a 100-per-cent interest in the Buck Lake platinum, palladium, nickel and gold project, located in Ontario, near the Lac Des Iles platinum palladium mine. Empire also holds a controlling interest in the Fox Creek lithium project in Alberta and the Gwyn Lake gold project, located in the heart of the historic Beardmore-Geraldton greenstone gold belt in Ontario.

We seek Safe Harbor.