Emperor Metals, Inc. · CSE:AUOZ
Emperor Metals — Investor Presentation (July 2025)
40 slides from Emperor Metals's investor presentation, Jul 3, 2025
Slide 1: Emperor Metals in Quebec's Prolific Abitibi Greenstone Belt
lad EMPEROR METALS IN QUEBEC'S PROLIFIC ABITIBI GREENSTONE BELT CSE: OTCQB: FRA:
Slide 2: Cautionary Statements
vad CAUTIONARY STATEMENTS EMPEROR METALS DISCLAIMER Emperor Metals Inc. is a Canadian mineral exploration company listed on the Canadian Securities Exchange, or CSE, which is operated by CNSX Markets Inc. Neither the CSE nor its Market Regulator (as that term is defined in the Trading Rules and poli
Slide 3: *Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered
• • • • • • • • • • • • *Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent Canadian Institute of Mining and Metallurgy (CIM) standards (2014) and guidelines (2019) for mineral resour
Slide 4: Management and Board
JOHN FLOREK - M.SC., P.GEOL. JOHN WILLIAMSON - P.GEOL. Management & Advisory of >20 Public Mining Companies with >200 years of President, CEO, & Director experience and 12 successful exits in the Public Mining Sector & Capital Markets. Board of Directors own 8.5% of Emperor and have raised >$1 Billi
Slide 5: Capital Structure
CAPITAL STRUCTURE As of July 2025 Maritime Resources 9.2% Shares Outstanding 139,965,060 Working Capital Est. $1.0 M CAD Warrants *30,839,788 Options *10,725,000 Fully Diluted 181,529,848 Rob McEwen “am pleased with the progress Emperor Metals has made on the Duquesne West Gold project and the recen
Slide 6: Flagship Duquesne West Gold Project
FLAGSHIP DUQUESNE WEST GOLD PROJECT et DEROR METALS RICH HISTORY OF PROLIFIC MINING The Abitibi Region is one of the world's most prolific gold producing districts with ~200 million ounces of gold produced to date! Total historical gold production from the many high-grade gold deposits along the eas
Slide 7: Tier 1 District - Abitibi Greenstone Belt
TIER 1 DISTRICT —- Abitibi Greenstone Belt vad HISTORIC PROLIFIC AND PRODUCTIVE MINING _ _ EMPE ROR \ @ Producing Mine ! | @ Development Project | # Geological Fault N Abitibi Greenstone Bett TDG 200MOzAuProduced = & ; Ponce Eacle 7 = Hoyie Pon! es) Hislop DUQUESNE WE HighGold i aT Wunv-Croesus! [ve
Slide 8: District Ownership - Neighborhood Deposits
DISTRICT OWNERSHIP NEIGHBORHOOD DEPOSITS vad EMPEROR METALS Mayfair Fenn-Gib Ind: 3,383,000 o7 Au Fist Mining Duparquet Gold Moneta Gold Tower Gold Ind: 4,460,000 oz Au Inf: 8,292,000 oz Au Agnico Eagle Agnico Eagle Macassa Upper Beaver Ind: 867,000 07 Au uy Ind: 400,000 oz Au Inf: 675,000 o2 Au Inf
Slide 9: AI Machine Learning
Al MACHINE LEARNING EME ROR METALS Advantages of Al Increased Efficiency: Al automates data analysis, expediting exploration workflows and optimizing resource allocation Improved Accuracy and Precision: Machine learning minimizes human bias, ensuring accurate identification of mineralization pattern
Slide 10: AI Geological Model
ad Al GEOLOGICAL MODEL EMPEROR METALS Cross Section of |[DQ23-05) (Looking west) +/- 20 m Window First ever geological model on property (Al Developed) n - — |lluminates' competency contrast for previously unrecognized additional mineralized zones/ targets - — Enlightens the controls to mineralizati
Slide 11: 2023 AI 3D Modelling Targets
vad 2023 Al 3D MODELLING TARGETS EMPEROR Preliminary Model - Grade x Thickness (Looking North) - Long Section METALS 320L 2404 160L 80L OL -B0L -160L °240L 320L 400 L 480 L 560 L 640 L T20L B00 L -999,000 <= I < 7.500 7.500 <« I < 8.500 ie 8500 <= ff} <9.500 is oe 9.500 <= fj < 11,000 11.000 <= fj <
Slide 12: Potential Stope Grade and Thickness
ad POTENTIAL STOPE GRADE AND THICKNESS EMPEROR METALS GRADE (Au, g/t) | STOPE THICKNESS (m) CRITERIA USED ee ae Minable Shape Optimizer (MSO) used 15.860 1138 Gold Cutoff of 3 g/t Au and Gold Cap 15.669 11.37 of 30 g/t Au 15.399 14.68 » — Minimum dimensions 2.5 m (width) x 14.249 14.75 8 m (length)
Slide 13: Phase I Assays and Core
ad PHASE I ASSAYS AND CORE EMPEROR SUMMER 2023 DRILLING — DQ23-01 & DQ23-05 METALS DQ23-02 (10.65 m of 3.97g/t Au (includes 5.0 m of 5.34 g/t Au))- core depth of 540.25 m DQ23-02 (25.0 m of 1.69 g/t Au)
Slide 14: 2023 Drilling Highlights
2023 DRILLING HIGHLIGHTS EMPEROR Maiden 2023 drilling completed November 2023, for a total of 8,579 m METALS Hole No. oe ie , a (g i) Expansion Target DQ 23-01 661.8 663.85 415 2.77 Underground DQ 23-01 531.3 543 11.7 5.63 Underground DQ 23-02 | 540.25 550.9 10.65 3.97 Underground DQ 24-02 667.1 679
Slide 15: Opportunity
uf OPPORTUNITY EMPEROR METALS iS ES
Slide 16: Open Pit Concept
OPEN PIT CONCEPT SHOWING BOTH PHASE 1 AND ULTIMATE PIT SCENARIO Ultimate Pit Concept i ¥ Open Pit Mineralization (>0.4 g/t Au) Phase 1 Focus (Early exploration plan) pe ad EMPEROR METALS Legend Gold Grades (g/t) 999,000 « [Jl] <= -1.000 -1.000 < 0.000 0.000 < fl <= 0.300 0300 < ff <= 0.500 0500 < [J
Slide 17: Open Pit Concept
OPEN PIT CONCEPT EMPEROR METALS It is estimated around 50% of historical drill core from surface to 500 meters is unsampled/assayed because previous operators overlooked the open pit potential. 2,500 m of historical core was assayed in 2023 successfully adding to the resource footprint and another 8
Slide 18: Long Section of DQ-23-05 and DQ24-11 Intercept
LONG SECTION OF DQ-23-05 and DQ24-11 INTERCEPT avi 20R METALS Expanding Footprint of High-Grade Lens a (Long Section-Looking North) ——— Ww Increasing ounces! Expanding footprint of os p g p 023-05 (DDH Pierce Point) as . high-grade zones (10.8 m @ 15.8 g/t Au) significantly Minable Stopes Optimiz 12
Slide 19: Footwall Zone Minable Stope Optimizer Polygons
Footwall Zone Minable Stope Optimizer Polygons Criteria: >2.5 m of >3.0 g/t Au 6.2 m of 16.3 g/t Au 8.7 m of 6.5 g/t N Au 17.2 m of 3.5 g/t Au Inset 3.65 m of 6.25 g/t Au Legend 4.1 m of 6.7 g/t DQ23-02 Intercepts Au Stope Model Thickness (m) & Grade (g/t Au) – Historical Drilling DDH location relat
Slide 20: Expansion Potential
vad EXPANSION POTENTIAL EMPEROR METALS Duquesne West Gold Project, Quebec \ 1.1km == Z | — gap — +— Area of3D | Blue Si (ee Geophysical Model \ 16.0 m of 6.06 g/t Au || 17.0mots.ozg/tau \\ 2.5 m of 51.88 g/t Au 1.0 m of 32.23 g/t Au 20
Slide 21: 2024 Drilling Program
2024 DRILLING PROGRAM \\ 2024 Drilling B Blue Sky Potential ad EMPEROR METALS 21
Slide 22: Duquesne West Open Pit Concept
ad DUQUESNE WEST OPEN PIT CONCEPT EMPEROR METALS N Minable Stope Optimizer Shapes Open Pit Criteria: >5.0 m Thickness of >0.3 g/t Au 7 \ * Opportunity to Increase Resources with Additional Drilling * Strategy to Coalesce Satellite Pits 400 m Depth Gold Grades g/t 0.000 < |_| <= 0.400 2.5mof10.3¢/tAu
Slide 23: Duquesne Open Pit Concept
DUQUESNE OPEN PIT CONCEPT Oblique View Looking West Minable Stope Optimizer Shapes Open Pit Criteria: >5.0 m Thickness of >0.3 g/t Au 56.1 m of 0.5 g/t Au (Including 18.0 of 0.7 g/t Au) Nip Zone 68.3 m of 0.6 g/t Au (Including 23.0 of 1.2 g/t Au) 400 m Depth 38.3 m of 20.0 g/t Au Gold Grades g/t (In
Slide 24: Minable Stope Optimizer Shapes
N DQ24-12 68.3 m of 0.6 g/t Au (Including 23.0 of 1.2 g/t Au) Gold Grades g/t 38.3 m of 20 g/t Au Minable Stope Optimizer Shapes (Including 21.7 of 35.2 g/t Au) Open Pit Criteria: >5.0 m Thickness of >0.3 g/t Au Significant Model Improvements 100 m 24
Slide 25: Duquesne Open Pit Concept
DUQUESNE OPEN PIT CONCEPT Oblique View Looking West Minable Stope Optimizer Shapes Open Pit Criteria: >5.0 m Thickness of >0.3 g/t Au 7.1m of 1.3 g/t Au 30.5 m of 0.5 g/t Au Nip Zone 20.4 m of 0.6 g/t Au 16.3 m of 0.8 g/t Au 14.2m of 1.2 g/t Au Gold Grades g/t 8.1 m of 1.0 g/t Au N 2024 Drillhole Tr
Slide 26: Duquesne Open Pit Concept
DUQUESNE OPEN PIT CONCEPT Oblique View Looking West Minable Stope Optimizer Shapes Open Pit Criteria: >5.0 m Thickness of >0.3 g/t Au 15.05 m of 0.9 g/t Au 2.5 m of 8.62 g/t Au 8.63 m of 1.26 g/t Au N 4.7 m of 1.4 g/t Au and 9 m of 1.3 g/t Au Gold Grades g/t 43.9 m of 0.74 g/t Au 7.2 m of 1.22 g/t A
Slide 27: Duquesne Open Pit Concept
DUQUESNE OPEN PIT CONCEPT Oblique View Looking West Minable Stope Optimizer Shapes Open Pit Criteria: >5.0 m Thickness of >0.3 g/t Au 6.88 m of 1.14 g/t Au 7.92 m of 1.59 g/t Au 21.7 m of 35.2 g/t Au (DQ24-12) 11.75 m of 0.58 g/t Au 6 m of 2.28 g/t Au 4.54m of 1.05 g/t Au Nip Zone 2.35 m of 4.2 g/t
Slide 28: Drill Hole Table
FROM TO Interval Au HOLE NO. Expansion Target (m) (m) (m) (g/t Au)
Slide 29: Drill Hole Table
HOLE FROM TO Interval Au Expansion Target NO. (m) (m) (m) (g/t Au)
Slide 30: Geophysics 2023
GEOPHYSICS 2023 Vv A 424 line-km aeromagnetic geophysical survey comprising of 14.5 km2 was completed at the Duquesne West Gold Project in February 2024. v The survey enhances Emperor's exploration strategy by refining geological models and targeting capabilities for gold deposition. v Used to assis
Slide 31: Visible Gold
VISIBLE GOLD Lad EMPEROR METALS 31
Slide 32: Gold Recovery: CN Leach vs. Fire Assay
Gold recovery: CN leach vs. Fire Assay Fire Assay Samples (Hole ID) CN (Au ppm) Thickness (m) Recovery (Au ppm) • R: Replacement Style Mineralization • Q: Quartz Feldspar Porphyry Related Mineralization Table 1: Results of the bulk leachable gold using modified cyanide (CN) leach vs Fire Assay to de
Slide 33: Company Comparable Analysis
COMPANY COMPARABLE ANALYSIS vad EMPEROR METALS updated July 3, 2025 c & P=} 6 a G & o % S) » ® x rat (J = PROJECT LOCATION DUQUESNE Tower O'Brien Chevrier_ + Moss Gold Perron Fenn-Gib Duparquet Queensway Novador WEST ROUYN Timmins — Rouyn Rouyn NW Rouyn Val-d'Or Rouyn Central Timmins QUEBEC Ontario
Slide 34: Lac Pelletier
LAC PELLETIER EME ROR METALS Historical mineral resource of 89,400 Oz Au Measured & Indicated at 4.08 g/t Au and 137,600 Oz Au at 3.89 g/t Au is contained in several zones of mineralization 227,000 Oz Gold (Au) 105,000 meters of drilling has been completed (both above ground and underground) Over 3.
Slide 35: Blue Sky Potential
BLUE SKY POTENTIAL Nearby Stadacona Mine 2.74 Mt @ 5.25 g/t Au (462Koz Au)
Slide 36: Lac Pelletier Neighbour Deposits
LAC PELLETIER NEIGHBOUR DEPOSITS 0 2.5 SF km 7) —" N = New Senator Rouyn rg<_| 0-23 Moz Au produced —_ Emperor Metals - Lac Pelletier M&il: 89 Koz @ 4.08 g/t Au Falco - Horne 5 M&il: 7.64 Moz @ 2.25 g/t AuEq Inf: 137 Koz @ 3.89 g/t Au Opawica Explorations Bazooka Lac Gold - Augmitto Stadacona Mine 0
Slide 37: Drilling Costs Differentials
ad DRILLING COSTS DIFFERENTIALS EMPEROR Meters Drilled 250,000 200,000 150,000 100,000 50,000 Drilling Costs Differentials Savings Realized $20,000,000 $30,000,000 $40,000,000 Expenditures —$250/m —$450/m ——$650/m $50,000,000 METALS Location, Location, Location Development Plan: 100,000 m Drilling S
Slide 38: Option Agreement to Earn 100% Interest
ad OPTION AGREEMENT TO EARN EMPEROR 100% INTEREST DUQUESNE WEST GOLD PROJECT Year Due Date Cash Shares ~~ > o | ggtement "$500,000 4,500,000 "$250,000 | *Oct,2023 1 “Anniversary Date *$500,000 4,500,000 *$750,000 *Oett 2024 2 *Jan 20,2025 *$500,000 4,500,000 *$7,250,000 Oet4, 2025 3 Jan 20*, 2026 $1
Slide 39: Option Agreement Cost/Ounce - CAD
vad OPTION AGREEMENT COST/OUNCE - CAD EMPEROR METALS $/oz Current Cost L $/oz Short Term Vision — $/oz Long Term Vision —> $20 $18 $16 $14 $12 $10 $8 wi vv z 5 C) ~ Q < wl 3) a a $6 $4 $2 $0 39
Slide 40: Investor Relations Contact Us
vad EMPEROR METALS Investor Relations Contact Us John Florek Alex Horsley President, CEO & Director Vice President & Director 0. (<j ®S Johnf@emperormetals.com Alexh@emperormetals.com 807.228.3531 778.323.3058 = emperormetals.com Q Head Office 250 Southridge, NW, Suite 300 CSE: AUOZ @) Edmonton, Alb