Edmonton, Alberta--(Newsfile Corp. - July 16, 2026) - Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) ("Emperor" or the "Company") is pleased to announce that it has commenced work on an updated National Instrument 43-101, Standards of Disclosure for Mineral Projects, Technical Report for its Lac Pelletier Gold Project, located approximately 4 kilometers southwest of Rouyn-Noranda, Quebec.

The updated technical report represents an important milestone in advancing the Lac Pelletier Project toward the next stage of development. The report will integrate historical exploration and development data with the Company's recent technical work to provide an updated and comprehensive assessment of the Project in accordance with current NI 43-101 disclosure standards.

CEO John Florek commented:

"Initiating an updated NI 43-101 Technical Report is another important step in systematically advancing the Lac Pelletier Project. We have assembled a substantial amount of historical and recent technical information, and this work will consolidate those datasets into a current technical framework that will guide the next phase of development. Together with the ongoing environmental permitting process, this work continues to de-risk the project as the Company advances toward engineering studies and, ultimately, production."

The updated NI 43-101 Technical Report is expected to be completed in the coming months and will provide a comprehensive, current assessment of the Lac Pelletier Gold Project in accordance with National Instrument 43-101 disclosure standards. The report will integrate historical drilling, geological modelling, underground development, metallurgical data, geotechnical and hydrogeological studies, and other technical work completed to date, establishing a robust technical foundation for the Company's next phase of project advancement.

Upon completion of the updated technical report, Emperor intends to commence a Pre-Feasibility Study ("PFS"), which will further refine the project's mining methods, processing flowsheet, infrastructure requirements, capital and operating cost estimates, and overall economic potential. Together, these studies represent key milestones in advancing Lac Pelletier toward a future production decision.

Lac Pelletier is an advanced-stage gold project with significant existing infrastructure, including approximately 3.3 kilometers of underground development, a portal, ventilation raise, settling ponds, and more than 100,000 meters of historical drilling. The project also benefits from a fully authorized underground mining permit allowing production of up to 1,000 tonnes per day, providing a clear regulatory pathway toward development. Previously advanced to the threshold of production under prior ownership, Lac Pelletier represents a unique opportunity to leverage existing infrastructure and permits to accelerate project advancement.

The Company is executing a disciplined, phased development strategy designed to systematically de-risk the project while maximizing long-term shareholder value. The updated NI 43-101 Technical Report and forthcoming PFS, supported by comprehensive geotechnical, hydrological, geochemical, metallurgical, and mineral processing programs, will further enhance the technical confidence necessary to support future engineering and development decisions.

Subject to favourable technical study results, regulatory approvals, financing, and environmental permitting, subsequent development activities are expected to include underground dewatering and rehabilitation, detailed engineering, and staged surface and underground mine construction. Collectively, these initiatives are intended to position the Lac Pelletier Gold Project for a future production decision and potential commercial operations.

The technical information in this press release was reviewed and approved by John Florek, P. Geo., President and CEO 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 January 7, 2025 available on SEDAR+.

About Emperor Metals Inc.

Emperor Metals Inc. is a Canadian mineral exploration company dedicated to advancing high-quality gold projects in Quebec's prolific Southern Abitibi Gold Belt. For more information, please refer to SEDAR+ (www.sedarplus.ca) under the Company's profile

ON BEHALF OF THE BOARD OF DIRECTORS

John Florek

Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cautionary note regarding forward-looking statements: Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would".

Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

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