Dr. Dan McCoy reports

KINROSS INCREASES OWNERSHIP IN EMINENT TO 13.8% AND FILES EARLY WARNING REPORT

Kinross Gold Corp. has exercised 3,787,118 common share purchase warrants of the company and now owns 11,361,355 common shares of Eminent Gold Corp., representing approximately 13.8 per cent of the issued and outstanding common shares (on a non-diluted basis). This warrant exercise represents continued participation and support from the company's strategic partner Kinross.

Kinross exercised the above-noted warrants for gross proceeds of $2,650,983. In connection with the warrant exercise, the company issued an additional warrant for each warrant exercised. Each incentive warrant entitles the holder to acquire an additional common share at a price of $1.50 per share until May 2, 2027, consistent with the terms previously announced by the company.

Early warning disclosure of Kinross Gold

This press release is being issued in accordance with the requirements of National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the early warning report (as defined herein) which will be filed by Kinross in connection with its warrant exercise and the issuance of the incentive warrants.

Prior to the warrant exercise and the issuance of the incentive warrants, Kinross exercised control and direction over, directly or indirectly, 7,574,237 common shares and 3,787,118 warrants, representing approximately 9.7 per cent of Eminent's issued and outstanding common shares, on a non-diluted basis and 13.8 per cent of the issued and outstanding common shares on a partially diluted basis. Immediately following the completion of the warrant exercise and issuance of the incentive warrants, Kinross exercises control or direction over, directly or indirectly, 11,361,355 common shares and 3,787,118 Incentive warrants, representing approximately 13.8 per cent of Eminent's issued and outstanding common shares on a non-diluted basis and 17.6 per cent of Eminent's issued and outstanding common shares on a partially diluted basis.

An early warning report filed by Kinross in connection with the warrant exercise will be available on Eminent's SEDAR+ profile. Alternatively, you may contact Luke Crosby, senior vice-president, general counsel, at 647-788-4478 to obtain a copy of the early warning report. Kinross is organized under the laws of the Province of Ontario and its head office is located at 25 York St., 17th floor, Toronto, Ont., M5J 2V5. Eminent's head office is located at 3849 Thurston St., Burnaby, B.C., V5H 1H9.

Kinross exercises control and direction over the aforementioned common shares and incentive warrants for investment purposes. Kinross may, from time to time, increase or decrease its investment in Eminent through market transactions, private placements, treasury issuances or otherwise, including pursuant to the terms of the investor rights agreement between Kinross and Eminent dated April 2, 2025.

Dr. Dan McCoy, chief executive officer of Eminent, commented:

"I would like to thank Kinross for their support. The proceeds from their warrant exercise will enable us to resume drilling at our 100-per-cent-owned Hot Springs Range project in the near term and to advance our Celts project toward drilling in the coming months.

"We are also appreciative of Kinross's continued engagement with our technical team, as their insights have been and continue to be valuable to Eminent. Their participation provides further validation of the new oxide, Carlin-style gold system we are in the early stages of identifying."

About Eminent Gold Corp.

Eminent Gold is a gold exploration company focused on the discovery of high-quality gold deposits in Nevada. The company's multidisciplinary team has a record of exploration success and applies modern, science-driven approaches to target new gold systems in the Great Basin. Eminent's portfolio includes the Hot Springs Range, Gilbert South and Celts projects.

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