Mr. Paul Sun reports

EMINENT CLOSES PRIVATE PLACEMENT INCLUDING $3 MILLION STRATEGIC INVESTMENT BY KINROSS GOLD CORP.

Further to its news releases dated April 7, 2025, Eminent Gold Corp. has closed its non-brokered private placement, which included participation by Kinross Gold Corp., one of North America's largest gold producers. As part of the offering, the company issued an aggregate of 10,711,900 units at 40 cents per unit, for gross proceeds of $4,284,760, with Kinross acquiring 7,574,237 units.

Each unit consists of one common share of the company and one-half common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of 70 cents, exercisable for 24 months following the closing of the offering.

Kinross now owns 9.9 per cent of the outstanding shares of the company and has the right to maintain its 9.9-per-cent interest in future financings, subject to certain exceptions. Furthermore, Kinross will have a right to increase its ownership percentage to 19.9 per cent of the outstanding shares, calculated on a partially diluted basis, including other rights and obligations as described in the April 7, 2025, news release.

The net proceeds from the offering will primarily support drilling at the Hot Springs Range project (an analogue to the 50-million-ounce gold Getchell trend) as well as at the Celts project (a direct analogue to AngloGold Ashanti's Silicon deposit in Nevada's prolific Walker Lane trend). In addition, a portion of the proceeds will be allocated to working capital, accounts payable and marketing services.

Paul Sun, president and chief executive officer of the company, commented: "Kinross's strategic investment in Eminent is a strong endorsement of our team, our vision and the exceptional potential of the Hot Springs Range and Celts projects, which exhibit compelling geological similarities to some of Nevada's most significant gold deposits. This funding allows us to advance drilling with a disciplined approach, ensuring efficient execution of our exploration plans, including the launch of our inaugural drill program at Celts. We are excited to build on this momentum and continue unlocking the untapped potential within our projects."

Minvisory Corp. acted as the company's financial adviser and McMillan LLP acted as the company's legal adviser in connection with the strategic investment. The company paid a success fee of $151,484 and 378,711 warrants to Minvisory in connection with the strategic investment. Additionally, the company paid cash fees of $16,510 and issued 27,500 broker warrants to registered dealers in relation to the offering. Each broker warrant entitles the holder to subscribe for one share at 70 cents until May 2, 2027. Furthermore, the company has entered into an agreement with Scout Drilling LLC, under which Scout will receive 520,163 units in exchange for $150,000 (U.S.) for past drilling services rendered by Scout.

The offering is being conducted in reliance upon certain prospectus and private placement exemptions. The securities issued under the offering will be subject to a hold period in Canada expiring Sept. 3, 2025.

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 the Hot Springs Range project, Gilbert South and Celts.

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