Emergent Resources Limited is pleased to advise that it has entered into a conditional agreement to acquire West Rock Resources Limited, repositioning the Company as a Colombian-focused base and precious metals explorer. West Rock is an Australian entity which has established an exploration team in Colombia, and, through its wholly owned subsidiaries, has the rights to a highly prospective exploration and exploitation licence located in the Southern Antioquia region of Colombia.

The licence consists of 1 fully granted tenement covering a total land area of 1,998Ha (approximately 20km2) and is located near the town of Tarso, in the Southern Antioquia region of Colombia and in close proximity to the world class deposits of Marmato and Titiribi (Figure 2). Commenting on the West Rock acquisition, Emergent chairman Mr Wolfgang Fischer stated: “We are very excited about exploring in Colombia, unlocking the tremendous potential of the West Rock assets and building the project portfolio in such a prolifically mineralised and underexplored jurisdiction.

West Rock’s tenement is strategically located in an area where there have been many exciting, world class mineral discoveries. The West Rock team’s strong understanding of the mineralisation and geology of Colombia will be invaluable towards the exploration and development of Tarso and other future projects. “The proposed transaction is further enhanced by the alliance between Cliffs Natural Resources and West Rock which offers Emergent remarkable growth possibilities by partnering with a proven minerals giant like Cliffs. The West Rock-Cliffs alliance speaks volumes about the confidence and respect Cliffs has for the professionalism and expertise of the West Rock team members.

“This ‘company making’ transaction is a unique opportunity combining projects with exceptional potential and a very strong, professional team with extensive exploration and commercial experience.” Consideration for this transaction will consist of the issuing of Emergent ordinary shares and options to the West Rock shareholders, together with the potential issuance of further shares based on project related milestones being met. The key terms of the acquisition including consideration and conditions precedent are outlined in Appendix 1 of this announcement. Following the completion of the acquisition, Emergent plans to launch an aggressive exploration campaign in Colombia initially focusing on the Tarso project area.

The Tarso project area is located in one of the world's most prospective new gold belts with resources of over 50Moz Au reported discovered in the last 5 years by major mining houses. The project lies in close proximity to areas known to host high quality precious and base metals projects including Continental Gold's Buritica project, which has a NI 43-101 compliant measured and indicated resource of 1.6Moz at 13.6g/t Au Buritica project (3g/t cut-off); Sunward Resources’ Titiribi project, which has a NI 43-101 compliant measured and indicated resource of 4.6Moz Au and 6.3Moz AuEq, and Gran Colombia Gold’s Marmarto project, which has NI 43-101 compliant measured and indicated resource of 11.8Moz Au / 80Moz Ag. Following this transaction, Emergent plans to add to its project portfolio in Colombia by acquiring additional, high-quality exploration assets and targets to deliver further shareholder value. To date, West Rock has assessed in excess of 300 projects in Colombia from which it has selected several that are being assessed in more detail at present.