Empire Metals Regulatory News (EEE)

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

12 September 2013

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

Positive Soil Sampling Results at Schonberg Project, Austria

Issue of Equity

Noricum Gold Limited, the Austrian focused gold exploration and development company, is pleased to announce positive results following the successful completion of the first phase of its systematic soil sampling and geochemistry programme at the 100% owned Schonberg Gold and Precious Metals Project.

Highlights

· Previous work performed by the Company identified a structural corridor hosting 8 veins over 3 km of strike

· The soil sampling programme was designed to test the extent of the mineralisation present in these veins

· Sampling returned multiple significant anomalies, including 0.419ppm gold and 0.22% copper, from a first pass of 109 samples collected

· Results confirm the Company's view that this area is a high priority exploration target

· Follow up work will comprise approximately 2,000 sample locations on a 15m by 50m spacing over the main areas of interest

· This programme will assist in the design of a first phase reverse circulation ('RC') drill campaign

Noricum Gold Managing Director Greg Kuenzel said, "Having already identified an exciting exploration target at Schonberg, the results from our initial soil sampling work are very encouraging. Importantly, they confirm our belief that oxide resources may be present above the primary sulphide mineralisation as evidenced by results in the ppm range for gold and the percent range for copper. With this in mind, we will now commence our follow up sampling programme at closer spacings to firm up these targets and I look forward to providing updates at the appropriate time.

"With resource drilling well underway at the previously producing mine within our primary Rotgulden gold project, these results at Schonberg highlight the additional prospectivity within our overall portfolio of gold and precious metal projects, located in Austria."

Schonberg Precious Metals Project

Background

The Schonberg leases cover a total of 37 sq km located around 30km southwest of Leoben, Austria and 100km due east of the Company's Rotgülden Gold and Precious Metals Project. These licences are centred on the towns of Knittelfeld and Flatschach. The latter is part of an historic copper mining zone.

The Company has confirmed the presence of an attractive exploration target with up to eight veins across the main mining districts within the licence area: Brunngraben, Weissenbachgraben and Adlitzgraben (from west to east). The former mining district of Tremmelberg is situated further east and it is thought to be the continuation of the ore bearing structures. Three of the known veins were the main focus of historical mining and are considered main ore veins. The veins are sub-parallel, generally trending northeast and steeply dipping to the northwest. These are the initial target for the exploration work just completed and the next exploration phase soon to begin.

First Phase Soil Sampling Results

A total of 109 soil samples were taken from two areas, Brunngraben and Weissenbachgraben, in order to determine if mineralised structures can be located by soil sampling, the amount of surface dispersion of value elements (gold 'Au', copper 'Cu' and silver 'Ag'), and to allow the determination of background values by testing a significant amount of country rock, while also allowing the testing of some potentially prospective areas. This survey was to form the basis for further work in the area and is considered to be the first step in regimented and systemic exploration following on from mapping and sampling last year.

As a first pass, this survey derived some significant anomalies. Gold and copper anomalism at Brunngraben up to 0.419ppm Au and 0.22%Cu was noted and requires follow up and infilling. As expected a good correlation between gold, silver and copper was noted.

Figure one shows the gold anomalism in the sample area with assays up to 0.419ppm Au. The main veins defined by mapping are represented and the anomalous results are concentrated around these main veins. Further sampling is expected to better define the anomalism and thus entail better decision making as exploration efforts move towards drilling.

Figure 1 - Results from first phase (Au in ppm) overlaid on the vein structures (in blue) from mapping and sampling programme.

The main ore minerals are pyrite, chalcopyrite, arsenopyrite, fahlore, bornite and native gold, some siderite is present. Malachite, azurite and limonite are formed in the oxidised zone. Copper ore can form flakes but also occurs in disseminated and massive form. Native copper has been noted in the Fuchs drive. The northern veins contain more chalcopyrite, whereas the southern veins are dominated by arsenopyrite. It was also noted that chalcopyrite content increased with depth.

Second Phase Soil Sampling

A follow up programme of soil sampling has been designed and will be implemented in the coming weeks when appropriate weather and field crew are available. The total programme is expected to comprise around 2,000 sample locations on 15m by 50m spacing (refer Figure 2) over the main areas of interest. Brunngraben will be completed first.

Figure 2 - Results from first phase overlaid on the vein structures (in blue). Second phase lines numbered 1 to 51.

Issue of Equity

Additionally, on 11 September 2013 the Company issued 391,305 new ordinary shares of no par value ("New Shares") to a consultant to the Company, in lieu of fees, at a price of 1.15 pence per share.

The New Shares rank pari passu in all respects with the existing ordinary shares of the Company. Application has been made to the London Stock Exchange for the New Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Shares will commence on 18 September 2013.

As a result of the issue of the New Shares, the Company's issued share capital now consists of 755,189,377 ordinary shares of no par value.

Competent Person Statement

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Jeremy Whybrow, who is a Member of The Australasian Institute of Mining and Metallurgy.

Jeremy Whybrow is a director of the Company.

Jeremy Whybrow has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Jeremy Whybrow has reviewed this announcement and consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

**ENDS**

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