Empire Metals Limited, the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce the results from its most recent titanium dioxide (‘TiO₂‘) product development testwork programme, carried out on mineral flotation concentrates produced from the in-situ mineralised weathered cap that extends across the giant Pitfield Project (‘Pitfield’), located in Western Australia.

Highlights

• A very high-purity TiO₂ product, assaying at 99.25% TiO₂ has been achieved through conventional beneficiation, leaching and refining processes.
• The TiO₂ product contains non-detectable, or extremely low levels of deleterious impurities and is expected to be suitable for high-quality titanium sponge metal or high-grade titanium dioxide pigment production.
• Bulk samples collected from the weathered cap (announced 17 February 2025) have been delivered to the metallurgical laboratory and these will be utilised to produce multiple, finished product samples for marketing purposes.

Shaun Bunn, Managing Director, said: ‘We have achieved an extraordinary outcome from our most recent product development testwork, which has delivered an exceptional high-grade, high-purity TiO₂ product that should be ideal for either titanium sponge metal or high-quality TiO₂ pigment production.

‘It is remarkable that our technical team has so rapidly produced a high-purity TiO₂ product. We believe this not only highlights the effectiveness of our processing approach but also underscores the potential value of our product. Metallurgical testing and process optimisation continues, and with the availability of the 70 tonnes of bulk sample collected in February we will now be able to significantly scale up the testwork and produce a variety of final product samples to share with prospective downstream end-users.’

Product Development Testwork

An acid bake-water leach process using sulphuric acid was applied, with parameters similar to that tested during the initial product development test programme (announced 10 March 2025). The TiO₂ product purification and product finishing stages were tested at ALS Metallurgy laboratories, located in Perth, Western Australia. All assays were conducted at ALS Metallurgy by their in-house metallurgy-specific assay lab.

The most recent product development metallurgical test work was undertaken on flotation concentrates recovered from the near surface, highly weathered in-situ saprolitic zone. Diamond drill core collected from two holes, DD24TOM004 and DD24TOM005, formed the feed composite (refer Figure 1). The composite sample was passed through a wet scrubber to break up the clays and attrition the ore prior to desliming the resulting slurry over a 38µm screen. The coarse material was fed to a gravity test circuit and the finer fraction (-38µm) was processed via froth flotation. The rougher (first stage) flotation concentrate generated from multiple, repetitive flotation tests were then blended to form the feedstock for a subsequent acid leach stage (refer Figure 2).

Two subsamples of flotation concentrate were leached under the following different conditions:

1. Direct acid bake followed by hot water leach

2. Dilute acid pre-leach followed by direct acid bake and hot water leach.

For both tests iron filings were added to the hot water wash phase to reduce the iron in the ferric (Fe³⁺) state to the ferrous (Fe²⁺) state, thus removing the iron from the solution. In this acid leach stage the titanium is recovered from the mineral concentrates into the liquor as titanyl sulphate (TiSO₄) and the residue solids and liquor are then separated after the water leach step, using filtration, with the liquor moving forward for purification and product finishing testwork.

The next step in the purification process is the hydrolysis stage, which involves the heating of the liquor, thus breaking down the titanyl sulphate and resulting in the production of hydrated TiO₂ and the recovery of H₂SO₄. This step was carried out in two stages without seed TiO₂ material, an improvement from previous work. The solution was heated to 106 degrees C and held at temperature whilst being stirred for 2 hours. The resulting slurry was then centrifuged to separate the liquor from the precipitated solids. Finally, as part of the product finishing stage, the hydrated TiO₂ was separated from the liquor using a centrifuge, and the solids were then calcined to remove water and produce a high-purity TiO₂ compound (see figure 3).

The final chemical analysis of the TiO₂ product indicates a very high purity of 99.25% TiO₂ by mass with non-detectable or extremely low amounts of deleterious impurities (see table 1).

Figure 1. Saprolite composite sample before scrubbing/attritioning

.

Figure 2. Flotation test on the saprolite composite slimes fraction

Table 1. Finished Product Analysis

Figure 3. Purification and product finishing testwork, photos from left to right: titanyl sulphate solution from leaching stage, hydrated TiO₂ produced from hydrolysis, and the calcined TiO₂ product.

The Pitfield Titanium Project

Located within the Mid-West region of Western Australia, near the northern wheatbelt town of Three Springs, the Pitfield titanium project lies 313km north of Perth and 156km southeast of Geraldton, the Mid West region’s capital and major port. Western Australia is ranked as one of the top mining jurisdictions in the world according to the Fraser Institute’s Investment Attractiveness Index published in 2023, and has mining-friendly policies, stable government, transparency, and advanced technology expertise. Pitfield has existing connections to port (both road & rail), HV power substations, and is nearby to natural gas pipelines as well as a green energy hydrogen fuel hub, which is under planning and development (refer Figure 4).

Figure 4. Pitfield Project Location showing theMid-West Region Infrastructure and Services.

Competent Person Statement

The scientific and technical information in this report that relates to process metallurgy is based on information reviewed by Ms Narelle Marriott, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Ms Marriott is a member of the AusIMM and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Ms. Marriott consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.

The technical information in this report that relates to the geology and exploration of the Pitfield Project has been compiled by Mr Andrew Faragher, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Mr. Faragher is a member of the AusIMM and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Faragher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.

**ENDS**

For further information please visit www.empiremetals.co.uk or contact:

About Empire Metals Limited

Empire Metals is an AIM-listed and OTCQB-traded exploration and resource development company (LON:EEE)(OTCQB:EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.

The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.

An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO₂. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO₂.

The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.

Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.

The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.

*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Click here to connect with Empire Metals (OTCQB:EPMLF, AIM:EEE) to receive an Investor Presentation

Source

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$105,464 as markets opened for the week, up 1.9 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$105,426 and a high of US$107,826.

Bitcoin price performance, June 9, 2025.

Chart via TradingView

Rising institutional enthusiasm countered cautious macro sentiment over the weekend propping up Bitcoin’s value. A standout factor was Circle’s (NYSE:CRCL) June 5 IPO, shares surged 70 percent (US$117.53) following its debut debut and reinforced growing investor confidence in digital-assets infrastructure.

Meanwhile, markets have remained wary ahead of US–China trade talks in London.

Ethereum (ETH) began the day at US$2,518.20, a .13 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,482.70 and saw a daily high of US$2,544.95.

Altcoin price update

• Solana (SOL) opened at US$152.10, up 3.9 percent over 24 hours. SOL experienced a low of US$149.53 and reached a high of US$156.16 on Monday.

• XRP is trading at US$2.21, trading flat over the past 24 hours. The cryptocurrency reached a daily low of US$2.23 and a high of US$2.29.

• Sui (SUI) peaked at US$3.22, showing an increaseof 3.9 percent over the past 24 hours. Its lowest valuation on Monday was US$3.19, and its highest was US$3.34.

• Cardano (ADA) is trading at US$0.6651, up 0.9 percent over the past 24 hours. Its lowest price of the day was US$0.6586, and it reached a high of US$0.6777.

Today’s crypto news to know

Crypto funds hit record high in May

Crypto investment funds saw their assets surge to a record US$167 billion in May, driven by a growing appetite for risk and shifting investor strategies amid global market uncertainty.

According to data from Morningstar, nearly US$7.1 billion flowed into 294 tracked crypto funds last month—the largest inflow since December.

Analysts say the trend reflects a dual motivation: investors hedging against potential US market downturns and diversifying their portfolios beyond equities and gold.

Bitcoin, which rose over 15 percent since the start of the year (US$94,393 – US$107,761), has outpaced both the MSCI World Index and gold, reinforcing its appeal as a “new age” store of value.

Bitcoin and ether ETFs in the US are also driving institutional inflows, while gold and equity funds saw significant outflows last month.

Michael Saylor dismisses quantum threat to Bitcoin

Despite warnings from researchers and even BlackRock that quantum computing could break crypto’s encryption, Strategy (NASDAQ:MSTR) chairman Michael Saylor isn’t sweating it.

Speaking on CNBC, Saylor waved off the existential threat narrative, comparing it to marketing hype from those pushing “quantum tokens.”

He argued that any true quantum threat would be neutralized through a software upgrade to the Bitcoin protocol as major companies continue to patch security holes.

Behind the scenes, crypto developers are already drafting proposals to transition Bitcoin to quantum-resistant systems, including potential hard forks.

For now, the market remains unfazed—Bitcoin continues to trade above US$100K, with no sign of quantum fear priced in.

Bitcoin enters Kibera, Africa’s largest slum

Through a nonprofit initiative by fintech firm AfriBit Africa, roughly 200 residents in Soweto West now use Bitcoin to pay for goods and services, including vegetables and motorcycle rides.

Most of the crypto circulation stems from a local garbage collection program, where youth are paid in small Bitcoin grants after weekend cleanups.

Advocates say the effort provides financial access to the undocumented and unbanked, bypassing high fees from Kenya’s dominant M-PESA mobile system.

1. Applied Digital and CoreWeave strike major deal

Applied Digital was the top performer on the S&P 500 (INDEXSP:.INX) on Monday (June 2) after the company announced two long-term lease agreements with cloud infrastructure company CoreWeave.

Under the terms of the agreements, Applied Digital will deliver 250 megawatts of IT load to host CoreWeave’s AI and high-performance computing infrastructure at its Ellendale, North Dakota, data center campus. The arrangements are expected to generate approximately US$7 billion in total revenue for Applied Digital.

News of the deal sent shares of Applied Digital up by over 22 percent to close at US$10.14 on Monday afternoon. CoreWeave’s share price saw an increase of 3.35 percent, closing at US$118.24.

The companies finished the week up 67 percent and 20 percent, respectively.

2. Broadcom shares slip post-earnings

Broadcom shares rose 3.2 percent on Tuesday (June 5), hitting a record high of US$264.89 after the company announced that it began shipping its latest networking chip, the Tomahawk 6.

However, enthusiasm faded after Broadcom reported its earnings after the markets closed.

Despite beating estimates on both earnings and revenue, the chip supplier’s forecast for the third quarter wasn’t enough to impress investors, who sent its share price down in after-hours trading.

The company is calling for Q3 revenue of US$15.8 billion, below analysts’ forecasts of US$15.71 billion.

“High expectations drove a bit of downside,” Bernstein analyst Stacy Rasgon said in a note.

Despite this, Broadcom ended the week priced at US$246.93, 1.5 percent above Monday’s opening price.

3. Cohere targets new funding round

Canadian AI company Cohere is seeking US$500 million in new funding, targeting a valuation of US$5.5 billion to US$6.5 billion, according to a Financial Times report released on Sunday (June 3).

The outlet cites three sources with inside knowledge of ongoing discussions that are still in early stages.

The company was founded by former Google (NASDAQ:GOOGL) researchers; it prioritizes enterprise users and specializes in privacy solutions. Cohere has not released any consumer apps, but has debuted a family of open-source models: Aya, as well as North, a platform available to limited users that allows businesses to develop customized AI agents. According to the sources, Cohere doubled its annual recurring revenue to more than US$100 million in May.

Apple, Broadcom, Applied Digital and CoreWeave performance, June 2 to 6, 2025.

Chart via Google Finance.

4. Delays and court rulings challenge Apple’s strategies

The Financial Times reported on Monday that Apple’s rollout of AI services in China is being delayed by Beijing regulators due to the ongoing trade war between China and US President Donald Trump’s administration.

In February, Apple made a deal with Alibaba (NYSE:BABA) to power Apple Intelligence using Alibaba’s proprietary Qwen large-language models. However, the rollout has been stalled, potentially due to ongoing geopolitical tensions, although Chinese regulators have not confirmed any particular reasons for the delay.

In other news, a federal appeals court denied Apple’s request for a stay of a court order that forbids the company from collecting commission on external payment links, a result of its legal battle with Epic Games.

Apple “bears the burden of showing that the circumstances justify an exercise of (our) discretion,” according to the order. “After reviewing the relevant factors, we are not persuaded that a stay is appropriate.”

The rejection by the appellate court forces Apple to adhere to the original ruling, which aims to increase competition and offer users diverse payment choices. The decision’s consequences are substantial, potentially impacting Apple’s existing revenue structure. Additionally, it could reshape the overall landscape of the mobile app market.

5. Anduril valuation soars after latest funding round

Defense startup Anduril Industries, known for supplying weapons to the US government, has secured US$2.5 billion in a new funding round led by Founders Fund, Peter Thiel’s venture capital firm. The firm contributed US$1 billion, according to Anduril Executive Chairman Trae Stephens, who spoke to Bloomberg Television on Thursday (June 5).

The newest round has more than doubled the company’s valuation, bringing it to US$30.5 billion.

Anduril has become a key player in modern defense tech with its autonomous drones, surveillance towers and AI-driven systems, part of a broader shift toward software-defined warfare.