Emperor Closes $1.2 Million Private Placement

10545 - 45 Avenue NW

250 Southridge, Suite 300

Edmonton, AB CANADA T6H 4M9

EMPEROR CLOSES $1.2 MILLION PRIVATE PLACEMENT

Vancouver, British Columbia, December 21, 2023 – Emperor Metals Inc. (“Emperor”) (CSE: AUOZ, OTCQB:

EMAUF, FSE: 9NH ) is pleased to announce that it has completed the non-brokered private placement

financing previously announced on December 14, 2023.

The Company issued : (i) 6,600,000 flow-through common shares (“QFT Shares”) within the meaning of

subsec. 66(15) of the federal Income Tax Act (Canada) and sec. 359.1 of the Taxation Act (Quebec) at a

price of $0.1 25 per QFT Share to raise gr oss proceeds of $ 825,000; and (ii) 3,436,362 flow-through

common shares (“FT Shares”) within the meaning of subsec. 66(15) of the federal Income Tax Act (Canada)

only at a price of $0.11 per FT Share for gross proceeds of an additional $ 378,000 (collectively, the

“Offerings”) for Canadian exploration expenses on the Duquesne West Gold Project, Quebec.

In connection with the Offerings, the Company paid a total of $72,180 in cash, and issued 672,181 finder’s

warrants (the “ Finder’s Warrants ”) to eligible finders for certain of the FT Shares sold. Each Finder ’s

Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.20

per share until December 21, 2025.

All securities issued are subject to a hold period until April 22, 2024.

About Emperor Metals Inc.

Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing high-

quality gold properties situated in the Canadian Shield. For more information, please refer to SEDAR +

(www.sedarplus.ca), under the Company’s profile.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “Alexander Horsley”

Alexander Horsley, Director

For further information, please contact:

Alexander Horsley

Phone: 778-323-3058

Email: [email protected]

Website: www.emperormetals.com

THIS NEWS RELEASE MAY CONTAIN CERTAIN “FORWARD LOOKING STATEMENTS”. FORWARD-LOOKING

STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES, ASSUMPTIONS AND OTHER FACTORS THAT

MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY

DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY THE

FORWARD-LOOKING STATEMENTS. ANY FORWARD-LOOKING STATEMENT SPEAKS ONLY AS OF THE DATE OF THIS

NEWS RELEASE AND, EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS, THE COMPANY DISCLAIMS ANY

INTENT OR OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENT, WHETHER AS A RESULT OF NEW

INFORMATION, FUTURE EVENTS OR RESULTS OR OTHERWISE.