Early Warning News Release Regarding the Securities of Emperor Metals Inc

Rhea-AI Summary

Maritime Resources Corp. has acquired 12,500,000 common shares of Emperor Metals Inc. (EMAUF) at $0.07 per share on March 11, 2025. The acquisition was made through a property purchase agreement dated January 6, 2025 (amended March 7, 2025), where Maritime's subsidiary 282 transferred 25 mineral claims and one mining lease of the Lac Pelletier gold project in Quebec to Emperor Metals.

Following the transaction, Maritime Resources now owns approximately 10.8% of Emperor Metals' outstanding common shares. The acquired shares are subject to a 4-month and one-day hold period. Maritime Resources may adjust its ownership position based on market conditions, either through open market transactions or private agreements.

Positive

• Acquisition of Lac Pelletier gold project expands Emperor Metals' mining portfolio
• Strategic 10.8% ownership stake by established mining company Maritime Resources

Negative

• Share dilution of approximately 10.8% for existing shareholders
• 4-month lock-up period limits trading flexibility of newly issued shares

This press release is being disseminated pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Toronto, Ontario--(Newsfile Corp. - March 12, 2025) - On March 11, 2025, Maritime Resources Corp. (the "Acquiror"), acquired 12,500,000 common shares in the capital ("Common Shares") of Emperor Metals Inc. (the "Issuer") at a deemed price of $0.07 per Common Share (the "Transaction"), pursuant to a property purchase agreement dated January 6, 2025 (as amended on March 7, 2025) (the "Purchase Agreement") by and among the Acquiror, 2823988 Ontario Corp., a wholly-owned subsidiary of the Acquiror ("282"), and the Issuer. The Acquiror acquired the Common Shares as consideration for 282 transferring to the Issuer 25 mineral claims and one (1) mining lease, representing the Acquiror's interest in the Lac Pelletier gold project located in the Province of Québec.

Prior to the Transaction, the Acquiror did not own any securities of the Issuer. As a result of the Transaction, the Acquiror owns 12,500,000 Common Shares, representing approximately 10.8% of the issued and outstanding Common Shares. The Common Shares issued to the Acquiror are subject to a customary 4 month and one day hold period.

The Acquiror may, depending on market and other conditions, increase or decrease its beneficial ownership of Common Shares or other securities of the Issuer whether in the open market, by privately negotiated agreement or otherwise.

The Acquiror's head office is located at 3200 - 650 West Georgia Street, Vancouver, BC V6B 4P7, Canada. The Issuer's head office is located at 10545-45 Avenue Northwest, 250 South Ridge, Suite 300, Edmonton, AB T6H 4M9, Canada. A copy of the early warning report to which this news release relates can be obtained from Germaine Coombs (germaine@maritimegold.com) or on the SEDAR+ profile of the Issuer at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244337

FAQ

How many shares of Emperor Metals (EMAUF) did Maritime Resources acquire in March 2025?

Maritime Resources acquired 12,500,000 common shares of Emperor Metals at $0.07 per share on March 11, 2025.

What percentage ownership does Maritime Resources hold in Emperor Metals (EMAUF) after the March 2025 acquisition?

Maritime Resources owns 10.8% of Emperor Metals' issued and outstanding common shares.

What assets were exchanged for Emperor Metals (EMAUF) shares in the March 2025 transaction?

Maritime Resources transferred 25 mineral claims and one mining lease of the Lac Pelletier gold project in Quebec.

What restrictions apply to the Emperor Metals (EMAUF) shares acquired by Maritime Resources?

The acquired shares are subject to a customary 4-month and one-day hold period.