Emperor Metals Initiates Updated NI 43-101 Report for Lac Pelletier Gold Project in Quebec

Emperor Metals Progresses Lac Pelletier Toward Production Readiness

Emperor Metals has taken a major step forward in the structured development of the Lac Pelletier Gold Project by initiating work on an updated National Instrument 43-101 Technical Report. Announced on July 16, 2026, this move demonstrates the company's dedication to utilizing existing infrastructure and regulatory approvals to expedite project advancement within Quebec's Southern Abitibi Gold Belt.

The updated report will form a comprehensive base for the project's next development phase. Instead of generating new data from the ground up, it will consolidate and harmonize extensive historical exploration and development information alongside the company’s recent technical efforts. This strategy enables Emperor Metals to evaluate the entire knowledge base accumulated on the property while ensuring compliance with current NI 43-101 disclosure standards for Canadian mineral projects.

Technical Foundation Supported by Extensive Historical and Recent Data

The Lac Pelletier Gold Project boasts a strong technical heritage. The update will combine historical drilling records, geological modelling outcomes, underground development information, metallurgical studies, geotechnical investigations, and hydrogeological assessments. The project benefits from more than 100,000 metres of historical drilling data, providing a substantial basis for technical evaluation and resource estimation.

Existing infrastructure at Lac Pelletier further enhances the project's technical strength. The site includes approximately 3.3 kilometres of underground development, a portal, ventilation raise, and settling ponds. This established underground infrastructure, together with the extensive technical datasets incorporated in the report, allows the company to advance more efficiently than would be possible for an early-stage project lacking such facilities.

Clear Regulatory Pathway for Production Development

A notable advantage of the Lac Pelletier Gold Project is its advanced regulatory status. Emperor Metals holds a fully authorized underground mining permit enabling production of up to 1,000 tonnes per day. This permit significantly reduces project risk by providing a clear regulatory path toward development, avoiding the uncertainties typically involved in securing initial mining permits.

The announcement highlights that the project was previously developed to near-production under former ownership, confirming that Lac Pelletier is not a greenfield site but an advanced-stage project. This history, combined with current permits, substantially lowers regulatory risk compared to earlier-stage exploration properties.

Pre-Feasibility Study to Follow Technical Report Completion

The updated technical report is an important intermediate milestone in Emperor Metals’ broader development plan. After the report’s completion, the company intends to start a Pre-Feasibility Study (PFS) aimed at refining key project parameters such as mining methods, processing flowsheet design, infrastructure needs, and capital and operating cost estimates.

This phased strategy enables the company to establish a strong technical and regulatory foundation before committing to more detailed feasibility engineering. The updated report is expected to be finished in the coming months, though no specific timeline for the subsequent PFS has been provided.

Comprehensive Technical Programs Enhance Project De-risking

Emperor Metals is executing a disciplined, phased development strategy designed to systematically reduce project risks while maximizing long-term shareholder value. Alongside the updated technical report and upcoming PFS, the company is conducting extensive geotechnical, hydrological, geochemical, metallurgical, and mineral processing studies.

These specialized investigations aim to boost technical confidence and support future engineering and development decisions. By addressing multiple technical disciplines early, the company seeks to identify and mitigate potential challenges before detailed engineering phases, lowering the risk of unforeseen obstacles during later stages.

Future Development Activities Dependent on Study Outcomes and Approvals

The company outlines that, subject to positive technical study results, regulatory approvals, financing, and environmental permits, development activities may include underground dewatering and rehabilitation, detailed engineering, and staged surface and underground mine construction.

Explicitly noting conditions such as favourable study outcomes, regulatory clearances, financing availability, and environmental permitting reflects Emperor Metals’ recognition that multiple factors must align for the project to progress to commercial production. The mention of environmental permitting confirms the company is actively pursuing formal environmental assessments as part of its phased approach.

Lac Pelletier Situated in Established Mining District

The Lac Pelletier Gold Project is located roughly 4 kilometres southwest of Rouyn-Noranda within Quebec’s Southern Abitibi Gold Belt. This region is one of Canada’s most prolific and established gold mining areas, offering operational and logistical benefits. The Abitibi district has a long-standing gold production history and benefits from developed mining infrastructure, an experienced workforce, and established permitting frameworks.

Emperor Metals identifies as a Canadian mineral exploration company focused on advancing high-quality gold projects in Quebec’s Southern Abitibi Gold Belt. This regional focus reflects a strategic commitment to exploration and development in a geologically prospective area with proven gold resources.

CEO Remarks on Project Advancement Strategy

John Florek, President and CEO of Emperor Metals, commented that initiating the updated NI 43-101 Technical Report is a vital step in methodically advancing the Lac Pelletier Project. He noted that the company has compiled extensive historical and recent technical data to be integrated into a current technical framework guiding the next development phase.

Florek emphasized that the updated report, alongside ongoing environmental permitting efforts, continues to reduce project risks as the company moves toward engineering studies and eventual production. This indicates that environmental permitting is progressing concurrently with technical assessments, potentially streamlining the path to development readiness.

Qualified Person Review and Compliance with Regulations

The announcement confirms that John Florek, P. Geo., President and CEO of Emperor Metals, has reviewed and approved the technical information in the press release as the company’s "qualified person" under National Instrument 43-101. This ensures that technical disclosures comply with Canadian securities regulations for mineral project information.

The company also referenced its January 7, 2025 press release on the Lac Pelletier Property, noting additional information is available on SEDAR+. This indicates that Emperor Metals has provided detailed project disclosures to securities regulators through prior announcements and filings.