Emperor Metals Inc. announced additional assay results from the summer 2023 drilling campaign at the Duquesne West Gold Project. Using Artificial Intelligence (A.I.) to model the deposit and plan drill program, a total of 14 diamond drillholes have been completed which represents 8,579 meters. Full results for DQ23-02 extension and DQ23-07 have been released from SGS Laboratories.

These results indicate the potential for resource expansion within and outside the open pit concept. Emperor is targeting a multi-million-ounce resource in a combination of conceptual open pit and underground mining scenarios. DQ23-02 was a step-out hole and originally drilled to test the eastern margin of a mineralized zone, with an intersection of 10.65 m of 3.97 g/t Au that is expected to extend the footprint of mineralization.

The grades and thickness intersected were as expected. However, the hole was extended due to assays identifying a broad thickness of mineralization at the bottom of the hole; 25.0 m of 1.69 g/t Au. This extension of DQ23-02 tested further into the footwall because of indications of mineralization by Emperor's AI modeling; this extension encountered gold values and expanded the mineralized footprint of the deposit (3.65 m of 6.25 g/t Au); DQ23-07 was designed to intersect mineralization in both the near-surface ultimate pit scenario and the underground mining scenario.

Intersection within the open pit scenario contained 15.7 Metres of 0.8 g/t Au (including 7.0 m of 1.80 g/t Au) and 7.2 m of 2.8 g/t Au; additional broad scale mineralization was seen as well (21.5 m of 0.40 g/t Au). Mineralization deeper in the footwall and within the underground mining scenario intercepted a footwall zone containing 2.0 m of 2.42 g/t Au. The open pit concept shows an ultimate pit with a depth extent of 400 meters; the footprint is 1.8 km by 0.8 km.

Initial exploration in 2024 will strategically focus on the area of the phase 1 pit design. This will allow to determine the potential economics as progress through the phases having the necessary assay results for resource evaluation and eventually for economic evaluations. Currently, Emperor is also sampling near-surface core from the historical core library that was not assayed by previous explorers.

Up to 70% of this core has not been assayed. So far, over 3,000 meters have been sampled and will be sent to the laboratory for analysis. In General, mineralization is within and proximal to a fertile, gold endowed, quartz-feldspar porphyry intrusion (QFP), which appears to enrich the greenstone belt along this structural corridor that hosts the Duquesne West Gold Deposit.

Apophyses of this intrusion are more endowed and are close to the most highly replacement type mineralization. Competency contrasts between rock types within this mineralized corridor are good sites for additional mineralization. High and low-grade mineralization are important in Open Pit Mining: Highest grade intercepts are within mafic (+/- ultramafic) breccia zone carapaces mantling the QFPs or highly deformed replacement style structural zones (in the mafic volcanics) that are highly strained and completely replaced by ankerite, sericite, and quartz.

The broadest low-grade zones are located within the QFPs. Some lower-grade broad zones mantle higher-grade intercepts in the mafic volcanics. This usually occurs at the margin between mafic volcanics and QFP (low grade in both units surrounding a high-grade intercept.) This mineralizing system is significantly large in length, width and depth.

These broad zones will aid in lowering strip ratios when Emperor has enough data to support a new resource estimate for both open pit and underground conceptual mining scenarios. Approximately 75% of the assays have been returned from the laboratory, Emperor is awaiting additional assays results. Samples were sent to SGS Laboratories in Lakefield, ON.