Emperor Metals drills high-grade gold near surface at Duquesne West Project, Quebec

Emperor Metals Inc. [CSE: AUOZ; OTCQB: EMAUF; FSE: 9NH] reported final assay results from six new drillholes from its 2026 exploration campaign at the Duquesne West Project, Quebec. The program currently integrates more than 20,479 metres of new drilling with 8,000 m of targeted historical core resampling, with the resumption of drilling we are targeting up to 33,000 metres of new data to further refine and expand the resource model in the 2026 drill program.

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

Exploration Highlights – Near-surface gold results: DQ26-61 returned 24.8 m grading 7.0 g/t Au from approximately 85 m vertical depth. DQ26-57 returned 8.4 m grading 8.7 g/t Au from approximately 41 m vertical depth. DQ26-63 returned 18.9 m grading 4.0 g/t Au, from approximately 100 m vertical depth. DQ26-59: returned 8.6 m grading 6.1 g/t Au from approximately 46 m vertical depth. DQ26-62: returned 11.4 m grading 2.6 g/t Au from approximately 57 m vertical depth.

More results to come: Results have now been reported for 55 of 66 holes from the completed program. Fully funded drilling has resumed: Emperor has resumed its fully funded diamond drilling program, with an additional 3,000 to 5,000 m planned, building on the 20,479 m completed to date.

CEO John Florek commented: “We are energized. The team continues to deliver on the commitments we’ve made to investors by consistently demonstrating, through the drill bit, the robust thickness and grade of the mineralized system both near surface and at depth. These results continue to strengthen our vision of a future mining operation that combines a large-scale open pit above a high-grade underground mine.

“Multiple mineralized lenses are converging to support this dual mining concept, highlighting the scale, continuity, and flexibility of the deposit.

“These results further reinforce the potential for a phased open-pit development strategy. Higher-grade, near-surface areas could support an initial Phase 1 pit with attractive economics with inherently lower stripping ratios, while Emperor continues to expand the project toward a larger ultimate pit. A Phase 1 open pit has the potential to accelerate payback and enhance the project’s long-term profitability.”

Importantly, these results also suggest that an updated economic evaluation may justify extending the conceptual Phase 1 pit to greater depths due to the increase thickness and grade just below the shallower high-grade intercepts, potentially capturing additional high-grade mineralization and further improving the project’s early-stage economics.

Emperor has commenced drilling with funds for an additional 3,000 to 5,000 metres drilling program at the Duquesne West Gold Project.

This program is now exceeding the originally planned 15,000 m while remaining within budget for the work completed due to the efficiency of defining higher grade shallow mineralization as presented in this press release. Assay results reported to date cover 55 of the 66 completed holes, representing approximately 83% of the metres drilled in that campaign. These results account for approximately 61% of the total assays expected from the broader 2025-2026 exploration season, which includes drilling and sampling of previously unsampled historical core.

Results continue to refine the geological understanding of Duquesne West and strengthen the technical foundation supporting Emperor’s conceptual open-pit development strategy. By integrating AI-assisted geological modelling with the ongoing 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 Emperor 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 multi-million-ounce gold resource.

Next Steps: Additional assay results remain pending, providing a steady pipeline of near-term exploration catalysts.

Fully funded drilling has resumed: An additional 3,000 to 5,000 metres of diamond drilling is planned.

Use the results to define and expand mineralization, targeting additional ounces both within the current resource footprint and through step-out and expansion drilling with our ongoing drilling campaign.

Planning for selective overburden stripping across a conceptual Phase 1 open pit to expose mineralization for detailed geological mapping, structural interpretation, and pit optimization. Overburden is between 0 m to 5 m depth.

Future PEA with an updated 43-101 for Duquesne West: Emperor is also advancing toward a PEA with an updated 43-101 for Duquesne West, with the updated geological model expected to help inform the timing of this milestone.

The Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.

Emperor is targeting a multi-million-ounce gold resource at Duquesne West through a combination of conceptual open-pit and underground mining scenarios. The Property currently hosts an updated inferred mineral resource estimate (MRE) of 26.9 million tonnes (Mt) containing 1.46 million ounces (Moz) of gold at an average grade of 1.69 g/t Au.

Under an option agreement, Emperor agreed to acquire a 100% interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the Duquesne West Property) from Duparquet Assets Ltd., a 50%-owned subsidiary of Globex Mining Enterprises Inc. [GMX-TSX].

A reinterpretation of the existing geological model was created using AI and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold-endowed structural zones.

Emperor Metals is focused on Quebec’s Southern Abitibi Greenstone Belt, leveraging AI-driven exploration techniques. Emperor is dedicated to unlocking the substantial resource potential of the Duquesne West Gold Project and the Lac Pelletier Project (currently under purchase agreement) both situated in this Tier 1 mining district.