Mr. David Watkinson reports

EMERGENT METALS CORP. PROVIDES AN UPDATE ON ITS GROWING ROYALTY PORTFOLIO

Emergent Metals Corp. has provided an update on its growing portfolio of royalty assets in Nevada and Quebec. Emergent is a project accelerator, and has an acquisition and divestiture business model. With that model, the company has generated, and continues to generate, a series of royalty interests that have the potential to bring long-term benefits to the company. These interests are described below.

Troilus North property royalty

The Troilus North property is an 11,300-hectare property that is part of Troilus Gold Corp.'s Troilus gold project in Quebec. The project is a past-producing copper and gold mine being advanced toward production by Troilus.

Emergent has a 1-per-cent net smelter royalty on the TN property, which Troilus can acquire at any time for $1.0-million. Note that the TN property is on strike and northeast of the main resource areas defined by Troilus to date, but no mineral resources have yet been defined on the property.

David Watkinson, president and chief executive officer of Emergent, stated, "We are excited by Troilus's progress to bring the Troilus project back into production, and it will rank as one of the largest gold equivalent ounce producers in Canada."

On June 28, 2024, Troilus completed a feasibility study (available under Troilus's corporate filings at SEDAR+) for the Troilus copper-gold deposit, which reaffirmed its position as a large-scale, long-life mining project. The study outlined a 22-year open-pit mine operation projected to produce an average of 303,000 gold equivalent ounces annually (see Troilus press release dated Jan. 7, 2025). In addition, Troilus has arranged for over $1.3-billion (U.S.) in potential project financing through letters of interest from several internationally recognized top-rated credit agencies (see Troilus press releases dated Nov. 13, Nov. 19 and Nov. 31, 2024). Troilus is currently completing an environmental and social impact assessment, which is in its final stages, and it expects provincial and federal permitting decisions in late 2026/early 2027.

Mr. Watkinson stated: "While Troilus is still a few years away from production, the project is advancing at a steady pace. We hope that their exploration efforts will continue over the next few years and Troilus will extend their resource areas to the northeast and eventually onto the TN property where Emergent's TN NSR will be applicable."

East-West property royalty

The East-West property is a 184-hectare property that is part of Agnico Eagle Mines Ltd.'s Canadian Malartic complex. Agnico Eagle acquired the EW property through its acquisition of O3 Mining Inc. by way of a takeover bid (see Agnico Eagle press release dated March 18, 2025). One of the results of this transaction was to consolidate O3 Mining's Marban property, containing the Marban deposit, with Agnico Eagle's adjacent Canadian Malartic complex, which is located to the south and west and hosts the second-largest operating gold mine in Canada.

Agnico Eagle recently announced that it had completed a technical evaluation of the Marban deposit during the fourth quarter of 2025. It updated the probable mineral reserve for the Marban deposit to 1.58 million ounces of gold (51.6 million tonnes grading 0.95 gram per tonne gold at a cut-off grade of 0.31 g/t gold and using a gold price of $1,650 (U.S.) per ounce) as of Dec. 31, 2025 (see Agnico Eagle's Feb. 12, 2026, press release). Marban is part of Agnico Eagle's fill the mill strategy at the Canadian Malartic complex, with anticipated production from the Marban deposit in 2033 (see Agnico Eagle fourth quarter and full-year 2025 results presentation, Feb. 13, 2025).

Emergent has a 1-per-cent net smelter royalty attached to the EW property, which Agnico Eagle can acquire for: (i) $500,000 within the first three years of signing the purchase agreement; (ii) $1.0-million within the fourth and fifth years of signing the purchase agreement, after which the back-in right expires. The original purchase agreement was signed between O3 Mining and Emergent on May 3, 2022. Note that the EW property is on strike and southeast of the Marban open pit and underground reserves, but no mineral resources have yet been defined on the EW property.

Mr. Watkinson stated: "We are excited about Agnico Eagle's acquisition of the EW property and that it will now become part of one of the largest gold mines in Canada, operated by one of the top mining companies in the world. We hope that Agnico Eagle will extend the Marban resource and reserves onto the EW property."

York property royalty

On Oct. 23, 2025, Emergent announced the sale of its York claims to Lahontan Gold Corp. As part of the transaction, Emergent retained a 1-per-cent net smelter return royalty on the York property. At any time before the third anniversary of the agreement, Lahontan may purchase the York NSR for $500,000 (U.S.). After the third and before the seventh anniversary of the agreement, Lahontan may purchase the York NSR for $1-million (U.S.).

The York property is part of the Santa Fe mine, being advanced by Lahontan toward production. The Santa Fe mine has an indicated mineral resource of 1,112,000 ounces gold equivalent (grading 1.14 g/t AuEq) and an inferred mineral resource of 544,000 oz AuEq (grading 1.00 g/t AuEq), all pit constrained (see Lahontan's press release dated Jan. 17, 2023, for details). The York property is just to the south and abutting the York resource located on the Santa Fe mine property.

Lahontan is pursuing permitting and exploration activities at the Santa Fe mine. On Nov. 13, 2025, it announced that the Bureau of Land Management has approved its exploration plan of operations to allow the company to move forward with a greatly expanded drilling and mine development program at Santa Fe, allowing it to conduct drilling across a 12.2-square-kilometre area. On April 8, 2026, Lahontan announced the closing of a private placement for an aggregate of $13.6-million. Lahontan plans to use the funds for exploration at the Santa Fe mine and West Santa Fe project.

Mr. Watkinson stated: "Emergent believes the Santa Fe mine has potential to be fast-tracked into production by Lahontan, and the transaction on the York property will benefit both companies in the short and long term. As part of the York property transaction, Emergent became a shareholder of Lahontan, with two million shares, which have appreciated since the transaction."

Other developing royalty interests

Lahontan has an option to acquire Emergent's West Santa Fe property in Nevada by completing $1.8-million (U.S.) in cash payments and $1.4-million (U.S.) in work over seven years (see Emergent's July 20, 2023, press release for details). As part of the transaction, Lahontan, or its designee, will grant a 1-per-cent net smelter royalty in favour of Emergent's U.S. subsidiary on claims it acquired from Nevada Sunrise LLC (Mind 1 through Mind 12). In addition, Lahontan, or its designee, will grant a 1.5-per-cent net smelter royalty in favour of Emergent's U.S. subsidiary for any additional claims not currently having a net smelter return royalty. Lahontan will have the right to purchase 50 per cent of this 1.5-per-cent WSF2 NSR royalty for $200,000 (U.S.) before the fifth anniversary of the signing of the agreement, or for $500,000 (U.S.) after the fifth anniversary of the signing of the agreement.

As announced by press release on March 24, 2026, Emergent has signed a definitive agreement to sell its Golden Arrow property, Nevada, to Fairchild Gold Corp. Emergent shall retain a 0.5-per-cent net smelter return royalty on the property. Fairchild shall have the option of acquiring the GA NSR by paying Emergent $1-million (U.S.) prior to the fourth anniversary of the definitive agreement. Fairchild shall have the option of acquiring the GA NSR by paying Emergent $1.5-million (U.S.) if exercised between the fourth and seventh anniversaries of the definitive agreement. The buyout rights expire after the seventh anniversary of the definitive agreement. This transaction is in progress and remains subject to Toronto Venture Exchange approval.

Mr. Watkinson stated: "As part of our business model as a project accelerator, we are putting together a series of royalties which offer upside to the company and its shareholders through either buyout of the royalty or potentially through net smelter return payments if and when the various property owners achieve production. Each of these projects is being advanced towards production by its owners."

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 sales, joint ventures, options, royalties and other transactions to create value for its shareholders -- an acquisition and divestiture business model it calls a project accelerator.

In Nevada, Emergent's Golden Arrow property is an advanced-stage gold and silver property with a well-defined measured and indicated resource and a plan of operations and environmental assessment in place to conduct a major drilling program. As announced by press release on Sept. 29, 2025, Emergent is in the process of selling Golden Arrow to Fairchild Gold. New York Canyon is an advanced-stage copper skarn and porphyry exploration property. The West Santa Fe property is a gold, silver and base metal property, subject to a lease with an option to purchase agreement with Lahontan Gold. Buckskin Rawhide East is a gold and silver property leased to Rawhide Mining LLC, operator of the Rawhide mine.

In Quebec, the Casa South property is a gold exploration property located south of and adjacent to Orezone Gold Corp.'s operating Casa Berardi mine and north of and adjacent to Iamgold Corp.'s Gemini Turgeon property. The Trecesson property is a gold exploration property located about 50 kilometres north of the Val d'Or mining camp.

Emergent has a 1-per-cent NSR in the Troilus North property, part of the Troilus gold project, being advanced by Troilus Mining toward production. The company has a 1-per-cent NSR in the East-West property, part of Agnico Eagle Mines' Canadian Malartic complex. Emergent also has a 1-per-cent NSR on the York property, part of Lahontan Gold's Santa Fe mine in Nevada, being advanced toward production.

Note that the location of Emergent's properties adjacent to producing or past-producing mines or advanced-stage properties does not guarantee exploration success at Emergent's properties or that mineral resources or reserves will be delineated.

Qualified person

All scientific and technical information disclosed in this new release was reviewed and approved by Mr. Watkinson, PEng, an employee of Emergent, a non-independent qualified person under National Instrument 43-101.

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