Emperor Metals, Inc. · CSE:AUOZ
Emperor Metals — Investor Presentation (October 2025)
29 slides from Emperor Metals's investor presentation, October 2025
Slide 1: Advancing High-Grade Gold Projects in Quebec's Prolific Abitibi Greenstone Belt
ADVANCING HIGH-GRADE GOLD PROJECTS IN QUEBEC'S PROLIFIC ABITIBI GREENSTONE BELT
Slide 2: Cautionary Statements and Disclaimer
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 termis defined in the Trading Rules and polic
Slide 3: 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 Billio
Slide 4: Mineral Resource Estimate
• • • • • • • • • • (1) Derived from the technical report entitled "NI 43-101 Technical Report and Maiden Mineral Resource Estimate, Duquesne West Property, Quebec, Canada" dated effective July 2, 2025 by Warren E. Black, M.Sc., P.Geo. Fallon Clarke, B.Sc., P.Geo. and Kristopher Raffle, B.Sc., P.Geo
Slide 5: Capital Structure
CAPITAL STRUCTURE As of September 2025 Shares Outstanding 144,377,030 Working Capital Est. $1.0 M CAD Warrants *28,700,986 Options *10,650,000 Fully Diluted 183,728,016 Rob McEwen "lam pleased with the progress Emperor Metals has made on the Duquesne West Gold project and the recent acquisition of t
Slide 6: Lac Pelletier Project and Historical Estimate
(2) (1) Derived from the technical report entitled "NI 43-101 Technical Report and Maiden Mineral Resource Estimate, Duquesne West Property, Quebec, Canada" dated effective July 2, 2025 by Warren E. Black, M.Sc., P.Geo. Fallon Clarke, B.Sc., P.Geo. and Kristopher Raffle, B.Sc., P.Geo., a copy of whi
Slide 7: 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 8: Duquesne West Resource Estimate
• • • • • (1) Derived from the technical report entitled "NI 43-101 Technical Report and Maiden Mineral Resource Estimate, Duquesne West Property, Quebec, Canada" dated effective July 2, 2025 by Warren E. Black, M.Sc., P.Geo. Fallon Clarke, B.Sc., P.Geo. and Kristopher Raffle, B.Sc., P.Geo., a copy
Slide 9: Duquesne West Resource Estimate and Historical Estimate
(1) Derived from the technical report entitled "NI 43-101 Technical Report and Maiden Mineral Resource Estimate, Duquesne West Property, Quebec, Canada" dated effective July 2, 2025 by Warren E. Black, M.Sc., P.Geo. Fallon Clarke, B.Sc., P.Geo. and Kristopher Raffle, B.Sc., P.Geo., a copy of which i
Slide 10: Our Edge - AI - Machine Learning
Our Edge - Al - Machine Learning PNIPEROR 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 minerali
Slide 11: Potential Stope Grade and Thickness
ad POTENTIAL STOPE GRADE AND THICKNESS EMPEROR METALS Historical Highlight Drilling Assays 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
Slide 12: 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 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 8,579 m drilling complete + 3,000 m of historical core sent for assays Hole No. From To (m) Interval Au (g/t Au) Resource Expansion Target DQ23-01 661.8 663.85 415 2.77 High-Grade Zone DQ23-01 531.3, 543, 11.7 5.63 High-Grade Zone DQ23-02 540.25 550.9 10.65 3.97 High-Grade Z
Slide 15: 2024 Drilling Results
FROM TO Interval Au HOLE NO. Expansion Target (m) (m) (m) (g/t Au) DQ 24-12 46 76.5 30.5 0.45 DQ 24-13 215.7 224.9 9.2 0.92
Slide 16: Open Pit Concept: Phase and Ultimate Pit Scenario
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: Minable Stope Optimizer Shapes
Minable Stope Optimizer Shapes UG Criteria: >2.5 m Thickness of >3.0 g/t Au Open Pit Criteria: >5.0 m Thickness of >0.3 g/t Au
Slide 18: Nip Zone Drill Intercepts
15.05 m of 0.9 g/t Au 56.1 m of 0.5 g/t Au 21.5 m of 0.6 g/t Au (Including 18.0 of 0.7 g/t Au) (Projected to Surface) Nip Zone 68.3 m of 0.6 g/t Au 16 m of 6.06 g/t Au (Including 23.0 of 1.2 g/t Au) 2.5 m of 51.88 g/t Au 17.0 m of 3.02 g/t Au 400 m Depth 43.9 m of 0.74 g/t Au Gold Grades g/t 21.7 m
Slide 19: Model Improvements with DQ24-12
Model Poorly Informed MSO Shapes Breaking Up ? 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
Slide 20: Timeline: Duquesne West Gold Project 2025
vad TIMELINE oY PEROR Duquesne West Gold Project - 2025 Period Highlight 2° % Complete ACTIVITY ERT penis §=—- 2025-03 Q4 2026-Q1 Q2 ‘START COMPLETE 12.3 4.5 6 7 8 9 101112 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 5
Slide 21: Mineral Resource Estimate Derivation
(1) (1) Derived from the technical report entitled "NI 43-101 Technical Report and Maiden Mineral Resource Estimate, Duquesne West Property, Quebec, Canada" dated effective July 2, 2025 by Warren E. Black, M.Sc., P.Geo. Fallon Clarke, B.Sc., P.Geo. and Kristopher Raffle, B.Sc., P.Geo., a copy of whi
Slide 22: 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 23: Option Agreement Cost/Ounce - CAD
OPTION AGREEMENT COST/OUNCE - CAD $/oz Current Cost L $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 $o w 3) z 5 ° ~ Q & w g a a $/oz Short Term Vision > $/oz Long Term Vision vad EMPEROR METALS >
Slide 24: o (1) Derived from the technical report entitled "NI 43-101 Technical Report and Maiden
✓ ✓ ✓ o ✓ ✓ ✓ (1) Derived from the technical report entitled "NI 43-101 Technical Report and Maiden Mineral Resource Estimate, Duquesne West Property, Quebec, Canada" dated effective July 2, 2025 by Warren E. Black, M.Sc., P.Geo. Fallon Clarke, B.Sc., P.Geo. and Kristopher Raffle, B.Sc., P.Geo., a c
Slide 25: Contact Us
via EMPEROR METALS Contact Us O. John Florek President, CEO, Director & Co-Founder & Johnf@emperormetals.com S) 807.228.3531 = emperormetals.com Q Head Office 250 Southridge, NW, Suite 300 6) CSE: AUOZ Edmonton, Alberta sv OTCQB: EMAUF Canada, T6éH 4M9 FRA: 9NH LAS METALSGROUP
Slide 26: Lac Pelletier Historical Estimate
(1) (1) Derived from "NI 43-101 Technical Report and Mineral Resource Estimate for the Lac Pelletier Gold Project, Quebec" prepared for Maritime Resources by InnovExplo, 2022 (the "Lac Pelletier Historical Estimate") The Lac Pelletier Historical Estimate is considered historical in nature. A qualifi
Slide 27: Emperor's Production Potential
⮚ ⮚ ⮚ ⮚ ⮚ ⮚ ⮚ ⮚ ⮚ (`) Derived from "NI 43-101 Technical Report and Mineral Resource Estimate for the Lac Pelletier Gold Project, Quebec" prepared for Maritime Resources by InnovExplo, 2022 (the "Lac Pelletier Historical Estimate") The Lac Pelletier Historical Estimate is considered historical in nat
Slide 28: Blue Sky Potential
BLUE SKY POTENTIAL Nearby Stadacona Mine 2.74 Mt @ 5.25 g/t Au (462Koz Au)
Slide 29: 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
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