Emperor Metals, Inc. · CSE:AUOZ
Emperor Metals — Investor Presentation (September 2025)
40 slides from Emperor Metals's investor presentation, Sep 9, 2025
Slide 1: Emperor Metals
EMPEROR METALS CSE: AUOZ OTCQB: EMAUF FRA: 9NH
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: Management and Directors
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: Historical Mineral Resource Estimate
• • • • • • • ⮚ • • • • • *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 reso
Slide 5: Capital Structure
ad CAPITAL STRUCTURE EMPEROR METALS As of August 2025 . Rob McEwen Public Float 9.6% 17.8% Board of Directors Shares Outstanding 144,377,030 G53 Working Capital Est. $1.0 M CAD qin 2.9% iti Warrants *28,700,986 biachialii-tiriaaiag: wa Duparquet Assets Ltd. Options *10,650,000 aon “BSE Fully Diluted
Slide 6: Abitibi Greenstone Belt Map
@ Producing or Historical Mine Mi @ Cevelopment Project & Geological Fault Abitibi Greenstone Belt Company Mine Company Development Project Hist. Production Current RAR Hist. Production Current R&R Discovery Hoyle Pond 4.2. Moz AU (08 Moz Au Pan American Bell Creek (0.6 Moz Au an American /Newmer Wh
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: 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 9: 2023 AI 3D Modelling Targets
ad 2023 Al 3D MODELLING TARGETS EMPEROR Preliminary Model - Grade x Thickness (Looking North) —- Long Section METALS 320L ‘ - op doweg giwreneete 3 mg 9-05-40 sehen eee 240 L ¢ ie Lil a Gold (gt) x Thickness 460L iS ae a -999,000 <= I < 7.500 tee Z d 7.500 <« I < 8.500 ool ote *- 8500 <= [J < 9.500
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: 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: Long Section of DQ-23-05 and DQ24-11 Intercept
LONG SECTION OF DQ-23-05 and DQ24-11 INTERCEPT av 20R METALS Expanding Footprint of High-Grade Lens = =a (Long Section-Looking North) —— 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 Optimi 124-1
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: Opportunity
uf OPPORTUNITY EMPEROR METALS iS ES
Slide 15: 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 16: Open Pit Concept: Phase and Ultimate Pit
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: 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 18
Slide 19: Conceptual Open Pit Model
CONCEPTUAL OPEN PIT MODEL 15.05 m of 0.9 g/t Au 56.1 m of 0.5 g/t Au (Including 18.0 of 0.7 g/t Au) 68.3 m of 0.6 g/t Au (Including 23.0 of 1.2 g/t Au) 400 m Depth —, Gold Grades g/t 21.7 m of 35.1 g/t Au 0.000 < <= 0.400 (Including 2.5 of 301 g/t Au) 0.400 < J <= 0.500 0.500 < J <= 0.800 0800 < 28
Slide 20: Visible Gold
VISIBLE GOLD Occurrences in DQ24-12 21.7 m of 35.2 g/t Au (Includes 2.5 m of 301 g/t Au) Lad EMPEROR METALS 20
Slide 21: Model Poorly Informed
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 22: 2023 Drilling Highlights
ad 2023 DRILLING HIGHLIGHTS EMPEROR METALS 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 DQ23-01 661.8 663.85 415 277 High-Grade Zone DQ23-01 531.3 543, 11.7 5.63 High-Grade Zone DQ23-02 540.25 550.9 10.65 3
Slide 23: 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 24: Drilling Results Table
HOLE FROM TO Interval Au Expansion Target NO. (m) (m) (m) (g/t Au)
Slide 25: Maiden Mineral Resource Estimate - July 2025
Lad DUQUESNE WEST GOLD PROJECT EMPEROR Maiden Mineral Resource Estimate - July 2025 METALS An Inferred Mineral Resource of 26.9 million tonnes (Mt), containing 1.46 million ounces (Moz) of gold (Au) at an average grade of 1.69 grams per metric ton (g/t) Au. + Resource Growth: Represents a 100% incre
Slide 26: Maiden Mineral Resource Estimate Tables
DUQUESNE WEST GOLD PROJECT vad EMPEROR Maiden Mineral Resource Estimate - July 2025 METALS Pit-Constrained Mineral Resource Estimate Au (Moz) CEO Commentary “We are very pleased to announce an Initial Mineral Resource Estimate for Emperor Metals. Through strategic exploration and focused execution,
Slide 27: Oblique View of 2025 MRE Conceptual Pit Shell
vad DUQUESNE WEST GOLD PROJECT oY PEROR Maiden Mineral Resource Estimate - July 2025 METALS Oblique View of the 2025 Duquesne West MRE Conceptual Pit Shell (beige) and Gold Block Model (gradational colour bar), and drillholes (black traces). N vx d Au (g/t) <0235 ME 0.250050 EE 0500080 1 08000100 1.
Slide 28: 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 29: Company Comparable Analysis
COMPANY COMPARABLE ANALYSIS EMPEROR updated Sept 3, 2025 METALS 700 600 Cc 3 aa 500 o N i 400 2 o 300 (S) i x 200 ~ ic . ° —= ° — ° ef Pa Ro e % é ; & é eae ee < S a & PROJECT DPUQUESNE Tower fFenn-Gib MossGold O’Brien Chevrier Duparquet —_— Perron Novador Queensway WEST ROUYN Timmins Val-d'Or NW Ro
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: Duquesne West Gold Project - 2025
vad EMPEROR METALS Duquesne West Gold Project - 2025 Period Highlight 2° % Complete ACTIVITY Se Comptnre PERIODS 2024-Q1 Q2 Q3 Q4 (VA 31
Slide 32: Lac Pelletier
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 33: Emperor's Production Potential
⮚ ⮚ ⮚ ⮚ ⮚ ⮚ ⮚ ⮚ ⮚ Emperor’s Production Potential
Slide 34: Blue Sky Potential
BLUE SKY POTENTIAL Nearby Stadacona Mine 2.74 Mt @ 5.25 g/t Au (462Koz Au)
Slide 35: Investment Summary
aq vad INVESTMENT SUMMARY EMPEROR METALS vy Proven management team with a track record of growing gold deposits and successfully selling them to major gold-producing mining companies. vy Exploring in a prime mining jurisdiction, surrounded by 50 active and historical mines. v_ The flagship Duquesne
Slide 36: Investor Relations Contact Us
vad EMPEROR METALS Investor Relations Contact Us John Florek Alex Horsley President, CEO, Director & Co-Founder Vice President, Director & Founder 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:
Slide 37: Thundermin-Alexis Option property history
2005 2010 2015 2021 Thundermin-Alexis Option Queenston merges Queenston Eldorado merges with Alexis with Queenston vs Thundermin Rambler merges Maritime buys Rambler’s with Thundermin Lac Pelletier and NFLD Asset. Arbitration favored property to revert back to Thundermin Property was partition with
Slide 38: 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 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
Slide 40: 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
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