Top

Edmonton, Alberta--(Newsfile Corp. - June 30, 2026) - EMPEROR METALS INC. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) ("Emperor" or the "Company") is pleased to provide an update on the Lac Pelletier Mine Property, located approximately 4 km southwest of the city of Rouyn-Noranda, Quebec.

In collaboration with Eldorado Gold and with support from Norda Stelo, Emperor has completed updates to the Lac Pelletier Remediation and Closure Plan. Work undertaken during the winter and spring included updating and evaluating the geochemistry of waste rock remaining from historical exploration activities, as well as conducting assessments of soil and groundwater environmental quality.

The updated plan is a key step in enabling Emperor to assume environmental responsibility for the Lac Pelletier Project, which is currently held by Eldorado Gold. The revised remediation and closure plan has been submitted to the Ministère des Ressources naturelles et des Forêts (MRNF) for review and comment, with regulatory approval anticipated before the end of the third quarter.

CEO John Florek commented:

"The submission of the updated remediation and closure plan marks another important milestone for the project. It establishes a clear path for the environmental aspects of future permitting and reflects the steady progress we're making toward our long-term goal of bringing the project into production."

The project holds a fully authorized underground extraction permit, enabling production of up to 1,000 tonnes per day (tpd). This Mining Permit positions Lac Pelletier as a near-development-stage operation, providing a clear pathway to production and revenue following the dewatering of existing underground workings and the completion of additional development activities. The permit underscores the project's advanced permitting status and highlights its readiness as a de-risked development opportunity.

The Lac Pelletier Project is progressing under a phased development strategy designed to systematically progress the asset and advance it toward production. Following regulatory approval, Emperor intends to initiate a Pre-Feasibility Study (PFS), which will refine the project's technical and economic parameters and provide the foundation for advancing development toward a production decision.

A comprehensive suite of technical programs; including geotechnical, hydrological, geochemical, and mineral processing studies, along with an updated NI 43-101 Technical Report, will provide the foundation for the Pre-Feasibility Study. Subject to positive study results, environmental permitting, financing, and regulatory approvals, subsequent project advancement is expected to include underground dewatering and rehabilitation, detailed engineering, and staged surface and underground mine development, positioning the Lac Pelletier Project for potential commercial production.

This disciplined, phased approach prioritizes regulatory readiness, technical confidence, and capital efficiency, positioning Lac Pelletier as a construction-ready, financeable mining project.

The current development schedule targets production ramp-up in early 2028, positioning the project to deliver significant near and long-term value for shareholders. To date, the project has benefited from more than 100,000 meters of drilling, approximately 3.3 kilometers of underground development accessed via a portal, the completion of a ventilation raise, and the construction of settling ponds to support mine dewatering and water discharge. These existing underground and surface infrastructure investments are expected to reduce development risk, shorten the path to production, and enhance the overall economics of the project.

The technical information in this press release was reviewed and approved by John Florek, P. Geo., President and CEO of Emperor in his capacity as the Company's "qualified person". For further information on the Lac Pelletier Property see Emperor's press release dated January 7, 2025 available on SEDAR+.

About Emperor Metals Inc.

Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield. For more information, please refer to SEDAR+ (www.sedarplus.ca), under the Company's profile.

ON BEHALF OF THE BOARD OF DIRECTORS

John Florek

THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE

Cautionary note regarding forward-looking statements: Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would".

Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While Emperor considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. Emperor does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303368