Mr. Alexander Horsley reports

EMPEROR CLOSES FLOW-THROUGH PRIVATE PLACEMENT

Emperor Metals Inc. has closed its proposed non-brokered private placement, which it announced on April 27, 2024. In connection with the closing, Emperor has issued 2,943,333 flow-through shares at a price of 26.7 cents per flow-through share for gross proceeds of $785,869.61. Each flow-through share will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The gross proceeds from the issuance of the flow-through shares will be used to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures, as such terms are defined in the Income Tax Act (Canada), and, in addition, with respect to Quebec resident subscribers who purchase flow-through shares who are eligible individuals under the Taxation Act (Quebec), the expenditures will also qualify for inclusion in the exploration base relating to certain Quebec exploration expenses within the meaning of Section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses within the meaning of Section 726.4.17.2 of the Taxation Act (Quebec). Further information on the company's Duquesne West gold project in Quebec and the 2023 exploration results are provided in the company's recent news release dated April 10, 2024, available on SEDAR+ and on the company's website. All qualifying expenditures will be renounced in favour of the subscribers of the flow-through shares effective Dec. 31, 2024.

All flow-through shares issued will be subject to a four-month hold period. The offering is subject to the acceptance of the Canadian Securities Exchange.

About Emperor Metals Inc.

Emperor Metals is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield.

We seek Safe Harbor.