Mr. John Florek reports

EMPEROR SHARES ARE NOW LISTED IN THE UNITED STATES ON OTCQB WITH DTC ELIGIBILITY FOR ELECTRONIC CLEARING AND SETTLEMENT

Emperor Metals Inc.'s common shares are now listed for trading in the United States on the OTCQB Venture Market under the symbol EMAUF. The company has additionally secured Depository Trust Company (DTC) eligibility for its common shares traded in the United States.

For this listing, the company profile can be viewed at the OTC Market website where North American and international investors can find real-time Level 2 quotes (denominated in U.S. dollars) along with current market information and company news. Emperor's common shares will continue to trade in Canada on the Canadian Stock Exchange (the CSE) under the symbol AUOZ and primary reporting for public disclosure will continue to be found under the company profile on SEDAR+.

Emperor chief executive officer John Florek commented: "This initiative will enable shareholders to benefit from the growing market interest in gold and the Duquesne West gold project from U.S.-based retail and institutional investors as we continue our advanced AI-assisted exploration strategy to define a modern mineral resource estimate (MRE). Our new OTCQB listing with DTC eligibility now provides exemptions from U.S. state securities laws or blue sky exemptions which will enable U.S.-based investment advisors to research and recommend investment in Emperor. It will also enable U.S.-based investors to execute orders with greater ease on many popular trading platforms such as Fidelity, TD Ameritrade, Charles Schwab, TradeStation, FirstTrade, Interactive Brokers and E-Trade where access to Emperor's common shares listed on the CSE may have been limited previously."

About the Duquesne West gold project

Emperor's flagship Duquesne West gold property is located 32 kilometres northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi greenstone belt in the Superior province.

Under an option agreement, Emperor agreed to acquire a 100-per-cent interest in a mineral claim package comprising 38 claims covering approximately 1,389 hectares, located in the Duparquet township of Quebec, from Duparquet Assets Ltd., a 50-per-cent-owned subsidiary of Globex Mining Enterprises Inc. For further information on the Duquesne West property and option agreement, see Emperor's press release dated Oct. 12, 2022, available on SEDAR+.

The property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 grams per tonne Au. The mineral resource estimate predates modern Canadian Institute of Mining, Metallurgy and Petroleum guidelines and a qualified person has not reviewed or verified the mineral resource estimate on behalf of Emperor, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.

Reinterpretation of the existing geological model was completed using artificial intelligence (AI) and machine learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold-endowed structural zones.

Qualified person disclosure

The technical content for the Duquesne West project in this news release has been reviewed and approved by Mr. Florek, MSc, PGeol, a qualified person pursuant to CIM guidelines.

About Emperor Metals Inc.

Emperor Metals is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield.

We seek Safe Harbor.