Mr. Paul Sun reports

EMINENT GOLD PROVIDES DRILLING UPDATE ON HOT SPRINGS RANGE PROJECT

Eminent Gold Corp. has provided an update on drilling progress at the Hot Springs Range project (HSRP) in Nevada, along with key 2024 achievements marking a year of strategic advancements and substantial progress.

Eminent has completed the first core hole of the maiden drill program at the Otis target within the Hot Springs Range project to an approximate depth of 500 metres. The drilling objective is to test the thesis that HSRP is a direct analogue to the prolific Getchell trend (approximately 50-million-ounce gold endowment) 15 kilometres across the Eden Valley in northern-central Nevada.

Eminent is testing the hypothesis that the Eden Valley fault is an extension of the Getchell fault, which intersects the nearby Turquoise Ridge deposit, where 7.4 million ounces of gold have been produced at an average gold grade of 16.9 grams per tonne. The host rock being tested at HSRP is the Home Ranch terrane, consisting of similar but slightly older rocks than those at Turquoise Ridge, which consist of a strongly deformed sequence of basalt and andesite volcanics intercalated with strongly deformed limestone. Phase 1 specifically targets the intersection of the steeply dipping northeast-oriented feeder faults near their convergence with both thrust faults and the Eden Valley fault within the Home Ranch terrane.

Visual inspection of the drill core has revealed extensive alteration in the volcanic-dominated portion of the Home Ranch terrane. The alteration consists of strong hematite, clay gouge and silicification in the Home Ranch terrane volcanic host rocks and adjoining deformed limestone. Most of the strong hematite alteration and clay gouge occur in faulted volcanic rocks, whereas the dominant alteration in the limestone is silicification. Observations indicate that the first hole was parallel to one of the northeast feeder faults, as indicated in Eminent's controlled-source audio frequency magnetotellurics (CSAMT) model, beneath a late Tertiary postmineral basalt and a less deformed Permian sandstone. Assays from the first hole are pending and expected in January. The information obtained from this core provides a clear path for the second drill hole, which will target the intersection of northeast faults with the NW Eden Valley fault as well as the thrust fault bounding the lower contact of the Home Ranch terrane.

Dan McCoy, chief geologist and director, commented: "The Hot Spring Range project has never been drilled previously and represents a great opportunity to make a world-class discovery in Nevada due to its proximity to the 50-million-ounce Getchell trend, similar host rocks, comparable geochemistry and similar structural architecture as revealed by CSAMT geophysics and geologic mapping.

"We are very encouraged by the amount and intensity of alteration noted in the first drill hole and look forward to starting our second hole in early to mid-January."

Key 2024 milestones:

• Successfully raised $2.4-million, advancing key strategic initiatives;
• Acquired the Celts project within the Walker Lane trend, a direct analogue to the nearby AngloGold Ashanti silicon project, having a total gold resource of 4.2 million ounces;
• Launched the maiden drill program at the Hot Springs Range project;
• Initiated the permitting process for the Gilbert South project within the Walker Lane trend.

Looking ahead

Eminent is planning to drill all three of its key projects -- HSRP, Gilbert South and Celts -- in 2025 subject to additional financing. This plan represents the company's dedication to its portfolio approach for a new world-class gold discovery in Nevada defined through new concepts and maiden drill programs.

Paul Sun, president and chief executive officer of the company, commented: "This is an exciting time for the company and our shareholders as we await the initial results of the first hole at Hot Springs Range. The target is significant; success could range from confirming structures to finding trace gold or significant gold intercepts. Although we did not cross the main structure, which will be drilled in our next hole, we did intersect key faults feeding off the structure and observed great alteration and the presence of fluids in the rock.

"We are preparing for a very active 2025, with plans to finance and drill the other two projects in the company's portfolio. We are also excited to start expanding our visibility to investors through our partnership with Spark Newswire."

The company is pleased to announce it has entered into a marketing consulting services agreement with Spark Newswire Inc., pursuant to which, among other things, Spark is to provide certain promotional services to the company in accordance with Policy 3.4, Investor Relations, Promotional and Market-Making Activities, of the TSX Venture Exchange.

Spark's engagement is for an initial term of one month, with the option for another month at the same monthly budget amount, and will commence in January, 2024. Following the initial term, the Spark agreement will automatically renew in one-month increments until cancelled with a written notice of seven days in accordance with its terms. During the initial term, the company shall provide Spark with an active monthly budget of $100,000 (U.S.). Following the initial term, the company may elect to continue with an active monthly budget or switch to a maintenance monthly budget of $50,000 (U.S.) that provides for reduced services.

Spark, which operates out of Vancouver, B.C., provides consulting and capital market advisory services to public companies. Through Spark's engagement, the company hopes to increase investor engagement and create more awareness for the company.

The appointment of Spark is subject to the approval of the TSX-V.

The company has approved the grant of 1.35 million incentive stock options to directors, officers and consultants of the company. The options vest one-third every six months following the grant date and are exercisable at a price of 45 cents for a period of five years.

All scientific and technical information in this news release has been prepared by or approved by Michael Dufresne, PGeo. Mr. Dufresne is a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Eminent Gold Corp.

Eminent Gold is a gold exploration company focused on creating shareholder value through the exploration and discovery of world-class gold deposits in Nevada. Its multidisciplinary team has had multiple successes in gold discoveries and brings expertise and new ideas to the Great basin. The company's exploration assets in the Great basin include Hot Springs Range, Gilbert South and Celts.

We seek Safe Harbor.