Mr. Alexander Horsley reports

EMPEROR ANNOUNCES PRIVATE PLACEMENT AND STRATEGIC INVESTOR

Emperor Metals Inc. proposes to complete a non-brokered private placement financing of up to 17,064,000 units at a price of 12.5 cents per unit for gross proceeds of up to $2,133,000. Each unit will consist of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share of the company at an exercise price of 25 cents for a period of two years from the date or dates of closing of the offering. The gross proceeds from the sale of the units will be utilized to finance exploration and development of the company's Duquesne West gold project and for general working capital.

The company may pay finders' fees to arm's-length finders in connection with this placement, which are expected to be up to 6.0 per cent of the gross proceeds raised by such finder, in cash, and non-transferable share purchase warrants to acquire common shares of the company of up to 6.0 per cent of the number of units sold to a purchaser or purchasers introduced by the finder(s), and exercisable by the finder(s) at 25 cents per share for a period of up to two years from a closing date. The offering is subject to the approval of the Canadian Securities Exchange, and any finders' fees payable will be issued in accordance with the policies of the CSE and applicable securities laws.

Evanachan Ltd., a private company controlled by Robert McEwen, will acquire eight million units under the offering, representing 46.9 per cent of the total offering. Prior to the offering, EL did not hold any securities of the company. Following the closing of the offering, EL will hold eight million shares and four million warrants of the company, which will represent 8.0 per cent of the then total number of issued and outstanding shares on a non-diluted basis, or 11.6 per cent on a partially diluted basis (assuming exercise of its warrants). The units are being acquired by EL for long-term investment purposes. EL may acquire additional securities of Emperor Metals, including on the open market or through private acquisitions, or sell securities of Emperor Metals in accordance with applicable securities laws, including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that EL considers relevant from time to time.

John Florek, president and chief executive officer, commented: "We would like to welcome Rob McEwen as a shareholder in our company. His significant investment in Emperor Metals is a ringing endorsement of our aligned vision for growth, value and success in the heart of Quebec's Abitibi mining district."

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.