Mr. David Watkinson reports

EMERGENT METALS EXPANDS ITS NEW YORK CANYON PROJECT

Emergent Metals Corp. has expanded its New York Canyon property in Nevada by acquiring 634 unpatented lode claims from Kennecott Exploration Company (KEX).

The property now consists of 21 patented claims and 786 unpatented mining claims totalling about 16,000 acres (6,500 hectares). Located about 30 miles (48 kilometres) east of Hawthorne, New York Canyon hosts copper skarn and porphyry exploration targets including Longshot Ridge, Copper Queen, Champion and Emma.

As part of the transaction, Emergent is acquiring 266 claims that were staked by KEX as part of an earn-in with option to joint venture agreement between Emergent and KEX. This agreement was terminated in June, 2023, by KEX after spending over $6.7-million (U.S.) in exploration on the property. KEX is transferring these claims to Emergent as part of that agreement.

In addition, Emergent is acquiring 368 claims that were staked by KEX outside the area of influence of the agreement. Emergent will grant KEX a 1.0-per-cent net smelter royalty on the additional claims. Most of these claims surround the Emma exploration target, identified by KEX as part of its 2022 exploration program (see press release dated Jan. 26, 2023).

The northern boundary of New York Canyon is adjacent to and abutting Lahontan Gold Corp.'s Santa Fe project, a past-producing gold mine, being explored and advanced toward production by Lahontan. Emergent will reimburse KEX for 2023/2024 Bureau of Land Management and Mineral County claim maintenance fees paid by KEX in September, 2023, for both the option and additional claims no later than 30 days after closing of the transaction.

David Watkinson, president and chief executive officer of Emergent, stated: "Emergent has consolidated a major land position at the New York Canyon property, hosting multiple copper exploration targets with a very low acquisition cost. The property has seen over $6.8-million (U.S.) in recent exploration expenditures completed by KEX, as well as exploration completed by other past owners going back to the 1970s. Emergent's exploration database now includes approximately 139,000 feet (42,400 metres) of historic drilling, 19,000 feet (5,800 metres) of recent drilling by KEX, surface mapping, alteration mapping, surface rock chip and soil sampling, and geophysics. Emergent has begun the process of searching for a new partner to advance the property."

About Emergent Metals Corp.

Emergent is a gold and base metal exploration company focused on Nevada and Quebec. The company's strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sale, joint ventures, option, royalty and other transactions to create value for its shareholders (an acquisition and divestiture business model).

We seek Safe Harbor.