Empire Metals Regulatory News (EEE)

Noricum Gold Limited / EPIC: NMG / Sector: Natural Resources

7 October 2015

Noricum Gold Limited ('Noricum Gold' or 'the Company')

Continued Positive Results from Mapping and Sampling, Walchen, Austria

Noricum Gold Limited, the European focused base and precious metals exploration and development company, is pleased to provide an update on its exploration activities at the Company's 100% owned Walchen VMS Deposit ('Walchen or the 'Project'), located in Austria.

Highlights

· Walchen's potential to host significant multi element mineralisation highlighted again through recent sampling of high grade dumps during a drill planning site visit:

o Rock samples returned grades of up to 2.25% copper ('Cu'), 0.8 g/t gold ('Au'), 94.9 g/t silver ('Ag'), 2.44% lead ('Pb') and 1.84% zinc ('Zn')

· Planning a drill programme to test the near surface mineralisation located in earlier mapping and sampling work this year

· Underground channel sampling of low-grade ore at Leopoldi drive in progress

· On-going exploration activities focused on outcrops and underground workings

· Low cost work programmes are being completed in tandem with activities in Georgia

Noricum Gold Managing Director Greg Kuenzel said, "Our work in Austria continues positively with a focus on the Walchen VMS deposit. Further multi-element mineralisation with solid grades have been received through sampling work undertaken in conjunction with our detailed mapping campaign, again reinforcing Walchen's potential, and therefore we are now planning for a first phase drill programme to test the near surface mineralisation.

"As our work in Georgia begins to pick up pace, we will continue to progress Walchen with a focus on the near surface outcropping mineralisation that was only recently uncovered by a new forestry road cutting. This road provides the perfect access for further exploration and will be utilised in the future drilling programme."

Sampling and Microscopy Programme

As part of an investigation of some accessible underground infrastructure, some dumps were sampled that contained ore mineralisation. All of the four samples taken had precious and base metal mineralisation of significance further reinforcing the merits of the Walchen area. The ore shown in the Leopoldi zone will be sampled in the near future. This was a lower grade zone that was not mined extensively in historical mining operations.

The table below shows the samples taken.

Some microscopy has also been completed on four mixed samples. The dominant sulphide in each of the samples was pyrite followed by chalcopyrite with associated sphalerite and galena, stannite and trace arsenopyrite and bismuth. Several different phases of sulphides were noted from different samples but as can be seen from the assay results all had significant mineralisation.

Walchen Overview

The volcanogenic massive sulphide (VMS) deposit of Walchen is located in the Eastern Alps, Styria Provence, central Austria. The deposit is 6km south-east of Oblarn, located in the Enns Valley and access is by sealed and then forestry roads. The nearest major town is Salzburg, 120km to the northwest.

The Walchen property hosts a previously producing mine, the data from which highlights the project's prospectivity. In consideration of this, the Company commenced an initial exploration programme in tandem with on-going review of the historic data.

It is unclear when mining initially started at Walchen, possibly in the 1200s, but later in 1434 an operational smelter was described in historical literature. Mining became increasingly important through the 17th and 18th centuries and in 1824 an annual production of 34kg of gold, 2550kg of silver and 406 tonnes of copper was reported. A short hiatus in mining was followed by intermittent production again between 1891 and 1958 when pyrite was mined to produce sulphuric acid.

The most recent mapping completed by Noricum has delineated three, north dipping, ore horizons. The southernmost mineralised horizon is well exposed laterally for 4km between the valley floor (835 masl) and 1550 masl. The northern mineralised horizon has less exposure at surface and can only be traced for 3km. The third horizon contains mainly carbonates and seems to be of less importance.

The ore minerals at Walchen are dominated by pyrite, with lesser amounts of the base metal sulphides chalcopyrite, galena and sphalerite. Pyrrhotite is present at deeper levels of the deposit. The average grade of the Walchen ore from 1942 was 1.71% Cu, 3.23% Zn, 2.48% Pb, 83g/t Ag, 0.5g/t Au. Recent assays have shown that pyrite and pyrrhotite can carry nickel and cobalt.

Historical exploration since the last cessation of mining has included an aerial geophysical survey utilising electromagnetic and radiometric methods was completed in 1980. The report detailing the survey mentions an anomaly at Walchen, and several other anomalies nearby, most are at relatively shallow depths.

The Company has published a Summary of Assays and Production Numbers from Historic Reports on its website. To view them, please go to www.noricumgold.com.

**ENDS**

For further information please visit www.noricumgold.com or contact: