Mr. John Florek reports

EMPEROR ADVANCES LAC PELLETIER TOWARD PRODUCTION WITH SUBMISSION OF UPDATED REMEDIATION PLAN

Emperor Metals Inc. has provided an update on the Lac Pelletier mine property, located approximately four kilometres southwest of the city of Rouyn-Noranda, Que.

In collaboration with Eldorado Gold and with support from Norda Stelo, Emperor has completed updates to the Lac Pelletier remediation and closure plan. Work undertaken during the winter and spring included updating and evaluating the geochemistry of waste rock remaining from historical exploration activities, as well as conducting assessments of soil and groundwater environmental quality.

The updated plan is a key step in enabling Emperor to assume environmental responsibility for the Lac Pelletier project, which is currently held by Eldorado Gold. The revised remediation and closure plan has been submitted to the Ministere des Ressources naturelles et des Forets (MRNF) for review and comment, with regulatory approval anticipated before the end of the third quarter.

Chief executive officer John Florek commented:

"The submission of the updated remediation and closure plan marks another important milestone for the project. It establishes a clear path for the environmental aspects of future permitting and reflects the steady progress we're making toward our long-term goal of bringing the project into production."

The project holds a fully authorized underground extraction permit, enabling production of up to 1,000 tonnes per day (tpd). This mining permit positions Lac Pelletier as a near-development-stage operation, providing a clear pathway to production and revenue following the dewatering of existing underground workings and the completion of additional development activities. The permit underscores the project's advanced permitting status and highlights its readiness as a derisked development opportunity.

The Lac Pelletier project is progressing under a phased development strategy designed to systematically progress the asset and advance it toward production. Following regulatory approval, Emperor intends to initiate a prefeasibility study (PFS), which will refine the project's technical and economic parameters and provide the foundation for advancing development toward a production decision.

A comprehensive suite of technical programs, including geotechnical, hydrological, geochemical and mineral processing studies, along with an updated National Instrument 43-101 technical report, will provide the foundation for the prefeasibility study. Subject to positive study results, environmental permitting, financing and regulatory approvals, subsequent project advancement is expected to include underground dewatering and rehabilitation, detailed engineering, and staged surface and underground mine development, positioning the Lac Pelletier project for potential commercial production.

This disciplined, phased approach prioritizes regulatory readiness, technical confidence and capital efficiency, positioning Lac Pelletier as a construction-ready, financeable mining project.

The current development schedule targets production ramp-up in early 2028, positioning the project to deliver significant near and long-term value for shareholders. To date, the project has benefited from more than 100,000 metres of drilling, approximately 3.3 kilometres of underground development accessed via a portal, the completion of a ventilation raise and the construction of settling ponds to support mine dewatering and water discharge. These existing underground and surface infrastructure investments are expected to reduce development risk, shorten the path to production and enhance the overall economics of the project.

The technical information in this press release was reviewed and approved by John Florek, PGeo, president and chief executive officer of Emperor in his capacity as the company's qualified person. For further information on the Lac Pelletier property see Emperor's press release dated Jan. 7, 2025, available on SEDAR+.

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.

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