Mr. David Christie reports

HIGH-GRADE GOLD NEAR SURFACE AT DUQUESNE WEST INCLUDING 7.0 G/T OVER 24.8 M

Emperor Metals Inc. has released results from six drill holes from the 2026 drill campaign at the Duquesne West project, which is under option from Duparquet Assets Ltd., a 50-per-cent-owned subsidiary of Globex Mining Enterprises Inc., and in which Emperor may earn a 100-per-cent interest subject to cash and share payments, a gross metal royalty, and other terms and conditions as announced on Oct. 12, 2022, by Globex. The 2026 program was composed 20,479 metres of new drilling and approximately 8,000 metres of targeted historical core resampling. With the resumption of a 3,000- to 5,000-metre drilling program, Emperor is targeting up to 33,000 metres of new data to further refine and expand the resource model from the 2026 drill program.

Duquesne West drilling results highlights:

• Near-surface gold intersections:
  • DQ26-61 returned 7.0 grams per tonne gold over 24.8 metres (81.36 feet) from approximately 85-metre vertical depth.
  • DQ26-57 returned 8.7 g/t gold over 8.40 m (27.55 ft) from approximately 41-metre vertical depth.
  • DQ26-63 returned 4.0 g/t gold over 18.9 m (62.00 ft) from approximately 100-metre vertical depth.
  • DQ26-59 returned 6.1 g/t gold over 8.60 m (28.21 ft) from approximately 46-metre vertical depth.
  • DQ26-62 returned 2.6 g/t gold over 11.4 m (37.40 ft) from approximately 57-metre vertical depth.
• More results to come: Eighty-three per cent of the drill holes have been reported (55 of 66 holes). Of the assay results expected, the results received to date represent 61 per cent of the total assays expected from the broader 2025-2026 drill season, which includes the historic core resampling program.
• Emperor has announced that it has resumed its fully financed diamond drilling program, with an additional 3,000 to 5,000 metres planned, building on the 20,479 metres completed in 2026 to date.
• The goal of the drilling completed to date and the new drilling is to complete a new National Instrument 43-101 mineral resource estimate and a preliminary economic assessment in the near term.

More than 142,000 metres of drilling have been completed at Duquesne West, including historical drilling dating back to the 1930s. Emperor believes that these latest results strengthen the project's geological foundation and support Emperor's objective of advancing toward a preliminary economic assessment in the near term.

Discussion

The drilling and assay results received continue to refine the geological understanding of Duquesne West and strengthen the technical foundation supporting the company's conceptual open-pit development strategy. By integrating artificial-intelligence-assisted geological modelling with the continuing interpretation of drill results, Emperor is identifying underexplored structural controls that are extending mineralization both near surface and at depth. Where these structural controls intersect, drilling continues to delineate thicker, higher-grade zones within the broader mineralized envelope. The recent recognition of abundant free gold throughout the deposit provides additional upside potential for both grade and contained ounces, further enhancing the project's exploration and development potential.

Together, these advances are helping the company refine its exploration priorities, assess the relationship between higher-grade zones and broader bulk-tonnage mineralization, and establish a stronger basis for future resource evaluation. The current drilling program is designed to advance both resource growth opportunities and geological confidence as Emperor works toward its longer-term goal of delineating a multimillion-ounce gold resource.

Next steps:

• There continues to be many additional assay results pending, providing a steady pipeline of near-term exploration catalysts on the Duquesne West project.
• An additional 3,000 to 5,000 m of diamond drilling has started.
• The results will be used to define and expand mineralization, targeting additional ounces both within the current resource footprint and through stepout and expansion drilling with continuing drilling campaign.
• Planning for selective overburden stripping will be across a conceptual phase 1 open pit to expose mineralization for detailed geological mapping, structural interpretation and pit optimization. Overburden is a fewer-than-five-metre depth.
• The company will complete a future PEA with an updated National Instrument 43-101 mineral resource estimate for Duquesne West.

For details on the exploration work completed by Emperor Metals on the Duquesne West project, please refer to its Nov. 3, 2026, press release.

David Christie, PGeo, president and chief operating officer of Globex, in his capacity as a qualified person under NI 43-101, prepared the information that forms the basis of this written disclosure utilizing the information and data in the Nov. 3, 2026, Emperor Metals press release.

We seek Safe Harbor.