Figure 1: Lac Pelletier representation of underground workings and current resource footprint.
The Lac Pelletier Property is subject to a one percent (1.0%) net smelter return royalty reserved to Metalla Royalty & Streaming Ltd. pursuant to an underlying royalty agreement.
For further details regarding the Lac Pelletier Property, please refer to Emperor’s press releases of January 7 and 9, 2025, which are available on SEDAR+ (www.sedarplus.ca) as well as Emperor’s website (www.emperormetals.com).
QP Disclosure
The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and an employee and officer of the company.
1NI 43-101 Technical Report and Mineral Resource Estimate for the Lac Pelletier Gold Project, Quebec. Prepared for Maritime Resources by InnovExplo, 2022 (M&I: 89.4 Koz Au of 681,200 tonnes at 4.1 g/t Inferred: 136.6 Koz of 1,099,000 at 3.9 g/t Au)
These mineral resources are not mineral reserves, because they do not have demonstrated economic viability. The results are presented undiluted and are considered to have reasonable prospects of economic viability.
- The estimate encompasses 19 mineralized lenses in two (2) zones (Zone 3 and Zone 4) using the grade of the adjacent material when assayed or a value of zero when not assayed. Dilution zones encompassing all mineralized zones were created to better reflect the internal dilution within the constraining shapes.
- High-grade capping supported by statistical analysis was done on raw assay data before compositing and established on a per-zone basis varying from 25 to 50 g/t Au for mineralized zones and 5 to 10 g/t Au for the dilution zones. Composites (1.5 m) were calculated within the zones using the grade of the adjacent material when assayed or a value of zero when not assayed.
- The estimate was completed using a sub-block model in Leapfrog Edge 2021.2.4. A 5m x 5m x 5m parent block size was used.
- Grade interpolation was obtained by Inverse Distance Squared (ID2) using hard boundaries. Dynamic anisotropy was used for the interpolation of all mineralized lenses.
- A density value of 2.826 g/cm3 was assigned to all mineralized zones.
- The mineral resource estimate is classified as Measured, Indicated and Inferred. The Inferred category is defined with a minimum of two (2) drill holes within the areas where the drill spacing is less than 50 m and shows reasonable geological and grade continuity. The Indicated mineral resource category is defined with a minimum of three (3) drill holes within the areas where the drill spacing is less than 25 m and shows reasonable geological and grade continuity. Measured mineral resources were classified as Mineral Resources present within 10 m of an underground opening within a mineralized zone. Clipping boundaries were used to refine classification based on those criteria.
- The 2022 MRE is locally constrained within Deswik Stope Optimizer shapes using a minimal mining width of 1.8 m for LH and 3.6 m for C&F. It is reported at a rounded cut-off grade of 2.01 g/t Au using the LH method, and 2.60 g/t Au, using the C&F method. The cut-off grades were calculated using the following parameters: mining cost = C$60/t to C$100.00/t; transport to process cost = C$15.00/t; processing cost = C$45.00/t; G&A = C$15.00/t; refining costs = C$5.00/oz; selling costs = C$22.00/oz; gold price = US$1,700.00/oz; USD:CAD exchange rate = 1.30; and mill recovery = 96.0%. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.).
- The number of metric tonnes was rounded to the nearest hundred, following the recommendations in NI 43-101 and any discrepancies in the totals are due to rounding effects. The metal contents are presented in troy ounces (tonnes x grade / 31.10348) rounded to the nearest hundred.
2Agnico Eagles 2024 Annual Report, Feb 26th, 2025
About Emperor Metals Inc.
Emperor Metals Inc. is a high-grade gold exploration and development company focused on Quebec’s Southern Abitibi Greenstone Belt, leveraging AI-driven exploration techniques. The company is dedicated to unlocking the substantial resource potential of the Duquesne West Gold Project and the Lac Pelletier Project, both situated in this prolific mining district.
The company is led by a dynamic group of resource sector professionals who have a strong record of success in evaluating and advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value. For more information, please refer to SEDAR (www.sedar.com), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Florek”
John Florek, M.Sc., P.Geol
President, CEO and Director
Emperor Metals Inc.
Contact
John Florek
President/CEO
T: (807) 228-3531
E: [email protected]
Alex Horsley
Director
T: (778) 323-3058
E: [email protected]
Website: www.emperormetals.com
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 the 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 the company 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. The company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws
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