Emperor Metals Renews Option ON Duquesne WEST GOLD Project
10545 - 45 Avenue NW
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EMPEROR METALS RENEWS OPTION ON
DUQUESNE WEST GOLD PROJECT
VANCOUVER, BRITISH COLUMBIA, January 24, 2025 – EMPEROR METALS INC.
(“Emperor” or the “ Company”) (CSE: AUOZ | OTCQB: EMAUF | FRA: 9NH ) is pleased to
announce that it has paid Duparquet Assets Ltd., a private company owned 50% by Globex Mining
Enterprises (“Globex”), the second year ’s option payment to maintain Emperor’s option on the
Duquesne West property in Duparquet township, Quebec, NTS -32D06. The option renewal for
2025 consisted of a $500,000 cash payment and the issuance of 3,671,569 common shares of
Emperor equivalent to $300,000 based upon a 20-day volume weighted average price.
CEO John Florek Commented: “ We are excited to continue progressing with this option
agreement. The compelling results from the 2024 drilling season have revealed the presence of
visible gold within lower -grade zones, which could significantly impact both grade and total
ounces in the open-pit environment. Infill drilling supports this scenario, and we look forward to
the upcoming Q1 mineral resource estimate update.”
During 2024, Emperor undertook a 19- hole drill campaign totalling 8,166 meters and collected
7,994 meters of historical core as part of a program focused on outlining a near surface lower grade
open pittable gold deposit rather than an underground higher grade mine. Pursuant to previous
press releases, Emperor has announced both high grade and low grade intersections building upon
the Company’s open pit model. Additional drill hole results are pending.
The Duquesne West property straddles the Porcupine -Destor Fault several kilometres east of the
town of Duparquet, Quebec. A number of previous drill campaigns have outlined a historical
inferred resource of 4.17 million tonnes grading 5.42 g/t Au (cut) or 6.36 g/t Au (uncut) as reported
in the NI 43-101 report “Technical Report and Mineral Resource Estimate Update for the
Duquesne-Ottoman Property, Quebec, Canada ” by Watts, Griffis and McOuat, David Power -
Fardy, M.Sc., Senior Geologist and Kurt Breede, P.Eng., Senior Resource Engineer dated October
20, 2011. This report is available on Globex’s website and is considered relevant and reliable. A
“qualified person” as defined under NI 43 -101 has not done sufficient work to classify the
historical estimate as current mineral resources or mineral reserves. The Company is not treating
the historical estimate as current mineral resources or mineral reserves.
The technical information in this press release was reviewed and approved by John Florek, P. Geo.,
President and CEO of Emperor in his capacity as the Company’s “qualified person”. For further
information on the Duquesne West Property see Emperor’s press release dated October 12, 2022
available on SEDAR+.
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.
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ON BEHALF OF THE BOARD OF DIRECTORS
John Florek
For further information, please contact:
Mr. John Florek
Phone: 807-228-3531
Email: [email protected]
Website: www.emperormetals.com
Mr. Alexander Horsley
Phone: 778-323-3058
Email: [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 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.