Empire Completes Fully Subscribed $3 Million Private

Empire Completes Fully Subscribed $3 Million Private Placement 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/24/12 -- Empire
Mining Corporation (TSX VENTURE:EPC) ("Empire") is pleased to
announce that it has closed the second and final tranche of its
non-brokered private placement announced on August 20, 2012 and
September 6, 2012. Each tranche involved the issuance and sale of
15,000,000 common shares (each, a "Share") at $0.10 per Share (no
warrants were included); across both tranches Empire was fully
subscribed and raised aggregate gross proceeds of $3,000,000. Empire
expects to use such funds in connection with its mineral properties
and for general working capital purposes. Shares issued in the second
tranche are subject to a four-month hold period expiring on February
24, 2013. 
Empire has also paid finders' fees in connection with the second
tranche, under which it has paid $112,700 cash and issued 213,000
Shares to certain finders. First Quantum Minerals Ltd. ("FQML")
subscribed for the entirety of the first tranche, and now holds
15,000,000 Shares, representing approximately 16.1% of Empire's
issued and outstanding Shares. FQML also holds a contractual
pre-emptive right to maintain its percentage holdings in certain
future transactions. 
Robert F. Giustra, Chairman 
This release contains forward-looking information and statements, as
defined by law including without limitation Canadian securities laws
and the "safe harbor" provisions of the US Private Securities
Litigation Reform Act of 1995 ("forward-looking statements"),
respecting the pre-emptive right and the use of proceeds.
Forward-looking statements involve risks, uncertainties and other
factors that may cause actual results to be materially different from
those expressed or implied by the forward-looking statements,
including without limitation the ability to obtain required
authorizations; FQML's ability and desire to exercise the pre-emptive
right in the future; political risk; cost increases; availability of
qualified workers; competition for mining properties; risks
associated with exploration projects, mineral reserve and resource
estimates (including the risk of assumption and methodology errors);
dependence on third parties for services; non-performance by
contractual counterparties; title risks; and general business and
economic conditions. Forward-looking statements are based on a number
of assumptions that may prove to be incorrect, including without
limitation assumptions about: that Empire will be successful in
obtaining required authorizations; general business and economic
conditions; the timing and receipt of required approvals;
availability of financing; power prices; ability to procure equipment
and supplies; and ongoing relations with employees, partners and
joint venturers. The foregoing list is not exhaustive and Empire
undertakes no obligation to update any of the foregoing except as
required by law. 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Empire Mining Corporation
Investor Relations
604-634-0970 or 1-888-818-1364
604-634-0971 (FAX)
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