EMR:CC - Emergent Metals Corp. Appoints Two New Independent Directors And Provides Several Updates
(TheNewswire)
Vancouver, British Columbia, October21, 2025 – TheNewswire - Emergent Metals Corp. (TSXV:EMR, OTC: EGMCF, FRA: EML, BSE: EML, MUN: ELM) (“ Emergent ” or the “ Company ”) announcesthat it has appointed two new independent directors to the Board ofDirectors (the “ Board ”), Joseph Mullin and Michael Leahy. Both are experienced business professionals in the mining industryand will serve to strengthen the Board.
Joseph Mullin is President and CEO of Rise Gold Corp.,owner of the historic Idaho Maryland Mine in California, and Presidentand CEO of Pure Energy Minerals, which holds a lithium brine resourcein Nevada that has been optioned to SLB Corp. He also serves on theBoard of Firefox Gold Corp., a gold exploration company in Finland. Mr. Mullin previously led Virginia Energy Resources Inc. through itssale to Consolidated Uranium Inc. (now IsoEnergy), and served as CEOof QuestEx Gold & Copper Ltd., guiding its successful sale toSkeena Resources Limited and Newmont Mining Corporation. Agraduate of Harvard University, early in his career he was a financialanalyst in metals and mining at Goldman Sachs and held investmentroles at Invesco Ltd. and Millennium Global Investments Ltd. Withover two decades of international metals and mining experience acrossthe U.S., Canada, Brazil, and Europe, Mr. Mullin brings a depth ofexperience in mining, finance and corporate development.
Michael Leahy is an experienced business leader with astrong background in corporate development, business strategy, andcompany operations. He currently serves as an Advisor to OrocoResource Corp., a Director of Rex Resources Corp., and a Director ofeLife Minerals Ltd. He most recently served as CEO of a publiclytraded venture capital firm specializing in investments inhigh-potential start-up companies across a variety of industries andsectors. He previously held positions as Vice President of BusinessDevelopment and later Chief Operating Officer for a privatetechnology company renowned for its proprietary satellite radartechnology utilized in mineral exploration, subsurface 3-D modeling,and infrastructure monitoring. He also served as Vice President andDirector of International Tungsten Inc. Mr. Leahy’s experiencespans diverse sectors, including natural resources, technology, andtourism resort development, and encompasses both private and publiccompanies. He holds a Bachelor of Business Administration(B.B.A.) from Acadia University.
Vincent Garibaldi and Grant T. Smith have resigned asdirectors to facilitate the appointment of the new members. Mr.Smith will continue to serve as Chief Financial Officer of theCompany. Emergent extends its sincere gratitude to both individualsfor their valued contributions as directors of the Company over thepast years and for their long-term and continuing support.
David Watkinson, President and CEO of Emergent, stated,“I am pleased to add two experienced business professionals to theBoard, which now consists of myself and four independent directors. The Board includes a diverse mix, with mining, geology, accounting,and business/finance expertise in the mining industry that willsupport the future growth of the Company”.
Update on Emergent’s Sale of theGolden Arrow Property, Nevada, to Fairchild Gold Corp.
On September 29, 2025, Emergent announced by newsrelease that it had signed a Memorandum of Understanding to sell itsGolden Arrow Property, Nevada (“ Golden Arrow ”), toFairchild Gold Corp. ( TSXV:FAIR ). The Property is anadvanced-stage gold and silver exploration property consisting of 17patented and 494 unpatented mineral claims located near Tonopah,Nevada. Emergent and Fairchild are currently completing a definitiveAgreement. Terms of the transaction (the “ Golden Arrow Transaction ”) include:
Cash Payments
Fairchild paid Emergent a non-refundable deposit ofUS$250,000 (paid).
Fairchild will pay Emergent an additional US$350,000 onapproval of the Golden Arrow Transaction by the Exchange.
Common Shares
Fairchild will issue Emergent 12,500,000 common shares(the Common Shares ”) on approval of the Golden Arrow Transaction by theExchange.
Senior Secured Note
Fairchild will issue a US$3.5M Senior Secured Note (the Note ”)in favor of Emergent on approval of the Golden Arrow Transaction bythe Exchange. Terms of the note will include:
Principal Amount: US$3,500,000;
Term: Five (5) years from the date of the DefinitiveAgreement (the “ DefinitiveAgreement ”) (the “ Maturity Date ”);
Interest Rate: 8.5% per annum, payable semi-annually,in arrears, in cash;
Security: The Note shall be secured by afirst-ranking security interest over the Property and related assetsacquired pursuant to the acquisition (the “ Security ”);
Principal Step Up: US$3,500,000 if redeemed prior tothe third anniversary of the Definitive Agreement; US$4,000,000 ifredeemed between the third and fourth anniversaries of the DefinitiveAgreement; and US$5,000,000 if redeemed between the fourth and fifthanniversaries of the Definitive Agreement.
Royalty
Emergent shall retain a 0.5% net smelter return royalty(the Royalty ”) on the Property. Fairchild shall have the option ofacquiring the royalty by paying Emergent US$1,000,000 prior to thefourth anniversary of the Definitive Agreement, or by paying EmergentUS$1,500,000 between the fourth and seventh anniversaries of theDefinitive Agreement. The buyout rights expire after the seventhanniversary of the Definitive Agreement.
Any advance minimum royalty payments due from Emergentto third parties prior to signing of the Golden Arrow Agreement shallbe put in escrow until payments are made to the third parties from theescrow account. Fairchild shall fund a US$40,000 reclamation bondpayment upon execution of the Golden Arrow Agreement and Exchangeapproval. Upon signing the Golden Arrow Agreement, Fairchild shallbecome responsible for BLM and County claim maintenance fees, propertytaxes, royalty payments, and any other holding costs going forwardfrom that date. The Golden Arrow Transaction is subject to allnecessary approvals, including regulatory approval. Fairchild is anarm's-length party, and no finder’s fees are being paid as partof the Golden Arrow Transaction.
The Company confirms that the Note to be issued byFairchild as part of the purchase price for the Property does notcontain any rights of conversion into securities. Fairchild, as issuerof the Note, may prepay or retire the Note, in whole or in part, atany time prior to maturity, with Emergent, as holder, simply receivingrepayment. The principal amount of US$3,500,000 under the Note ispayable by Fairchild to Emergent as a portion of the purchase pricefor the Property and is secured against the Property in favour ofEmergent.
David Watkinson, stated, “The disposition of theGolden Arrow asset for cash, shares, a senior secured note, androyalty interest monetizes Golden Arrow in the short, medium, andlong-term. Emergent will initially receive up-front cash and sharepayments. Emergent will then receive ongoing interest paymentsthroughout the term of the Note and the eventual payment of the Noteprincipal. There is further potential long-term upside from theRoyalty. The step-up of the Note principal in years four and fiveacts as an incentive for the potential early payment of the Note. Ifthe Note is not paid or if other conditions of the Golden Arrow Transaction are not met, Emergent has theability to take the Property back. Emergent management believes thatFairchild can advance Golden Arrow through its next stages ofdevelopment and ultimately towards production. It is a perfect timefor Fairchild to take advantage of high metal prices, the U.S.government’s support of mining projects, and a resurgence ofinvestor interest in gold projects.”
The Toronto Venture Exchange (the “ Exchange ”) istreating the Golden Arrow Transaction as a Reviewable Disposition withregard to Emergent and as a Fundamental Acquisition with regard toFairchild, as outlined in Exchange Policy 5.3, Acquisition andDispositions of Non-cash Assets.
Update on Emergent’s Sale of 27Claims at New York Canyon to Lahontan Gold
On August 19, 2025, Emergent announced that it hadsigned a binding term sheet (the “ MOU ”) to sell 27unpatented lode mineral claims (the “ York Claims” ) to Lahontan Gold Corp.( TSXV: LG ) (“ Lahontan ”). The claims are part ofEmergent’s New York Canyon Property, located in Nevada, and aredirectly south of and abutting Lahontan’s Santa Fe Property. Theirsale to Lahontan will allow the potential expansion of Lahontan’sYork resource southward onto the York Claims (see Lahontan Gold pressrelease dated August 19, 2025, for additional information). Emergentand Lahontan are in the process of completing a definitive agreement(the “ York DefinitiveAgreement ”) and obtaining regulatory approvalfor the transaction (the “ York Transaction ”).
Terms of the York Transaction include:
Lahontan has paid Emergent US$10,000 (paid).
On signing the Definitive Agreement and Exchangeapproval, Lahontan will issue Golden Arrow Mining Corporation, asubsidiary of Emergent, a US$50,000 promissory note, with a 1% permonth interest rate, and payable within six months of signing the YorkDefinitive Agreement Lahontan will issue 2,000,000 of its commonshares to Emergent.
Lahontan will grant Emergent a 1% NSR royalty (the Royalty ”) on the York Claims. At any time before the thirdanniversary of the Agreement, Lahontan may purchase the Royalty forUS$500,000. After the third and before the seventh anniversary ofthe Agreement, Lahontan may purchase the Royalty forUS$1,000,000.
David Watkinson stated, “Emergent management believesthe sale of the 27 claims to Lahontan for cash, shares, and a royalty,and allowing the York Property to be advanced as part of Lahontan’sSanta Fe Property is the best way to monetize the asset and bringvalue to Emergent’s shareholders.”
Update on Lahontan Gold’s Plans toDrill Emergent’s West Santa Fe Property
On October 15, 2025, Lahontan announced it hadsubmitted a Notice of Operations (the “ Notice ”) to theBureau of Land Management (the “ BLM ”) for a planneddrilling program on the West Santa Fe Property (aka MindoraProperty). According to the press release, t he“Notice seeks to permit multiple drill sites at the West Santa FeProject, plus the construction of access roads and sumps for drillingfluids. The Company intends to drill multiple holes from each drillsite, twining, drilling down-dip, and exploring the West Santa Fesystem along strike from areas of known gold and silvermineralization. Historic drilling, totaling 171 drill holes forapproximately 13,000 metres, defines shallow, oxidized, gold andsilver mineralization near the historic Mindora underground mine. Geologic mapping and sampling show that this zone of mineralizationcontinues for over 1,000 metres to the east, an area marked bynumerous shallow adits, prospect pits, and outcrops of hydrothermallyaltered rock”. Lahontan optioned the West Santa Fe Property fromEmergent in July 2023. Lahontan has the option to acquire theProperty by completing US$1.8 million in cash/share payments andUS$1.4 million in exploration expenditures over seven years.
David Watkinson stated, “We are extremely excited tosee the first drilling at West Santa Fe since the 1980’s. Lahontanis seeking to validate the extensive historical drill hole database onthe property and expand the known footprint of mineralization. Givenit is only 13 km from Lahontan’s advanced-stage Santa Fe Property,we hope they will be able to develop West Santa Fe as a satellitedeposit to Santa Fe.”
About Emergent
Emergent is a gold and base metal exploration companyfocused on Nevada and Quebec. The Company’s strategy is to lookfor quality acquisitions, add value to these assets throughexploration, and monetize them through sales, joint ventures, options,royalties, and other transactions to create value for our shareholders– an acquisition and divestiture (“ A&D ”) businessmodel.
In Nevada, Emergent’s Golden Arrow Property is anadvanced-stage gold and silver property with a well-defined measuredand indicated resource and a Plan of Operations and EnvironmentalAssessment in place to conduct a major drilling program. New YorkCanyon is an advanced-stage copper skarn and porphyry explorationproperty. The West Santa Fe Property is a gold, silver, and basemetal property, subject to a Lease with an Option to PurchaseAgreement with Lahontan Gold Corporation ( TSXV: LG ). BuckskinRawhide East is a gold and silver property leased to Rawhide MiningLLC, operators of Rawhide Mine.
In Quebec, the Casa South Property is a goldexploration property located south of and adjacent to Hecla MiningCompany’s ( NYSE:HL ) operating Casa Berardi Mine and north of andadjacent to IAMGOLD Corporation’s ( NYSE: IAG ) GeminiTurgeon Property. The Trecesson Property is a gold explorationproperty located about 50 km north of the Val d’Or mining camp. Emergent has a 1% NSR in the Troilus North Property, part of theTroilus Gold Project, being explored by Troilus Gold Corporation( TSX: TLG ). Emergent also has a 1% NSR in the East-West Property,part of Agnico Eagle Mines Limited Canadian Malartic Complex( NYSE: AEM ).
Note that the location of Emergent’s propertiesadjacent to producing or past-producing mines or advanced-stageproperties does not guarantee exploration success at Emergent’sproperties or that mineral resources or reserves will be delineated.
Qualified Person
All scientific and technical information disclosed inthis new release was reviewed and approved by David Watkinson, P.Eng.,an employee of Emergent and a non-independent qualified person underNational Instrument 43-101.
For more information on the Company, investors shouldreview the Company’s website at www.emergentmetals.com orview the Company’s filings available at www.sedarplus.ca .
On behalf of the Board ofDirectors
David G. Watkinson, P.Eng.
President & CEO
For further information, please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
Email: info@emergentmetals.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as the term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Cautionary Note onForward-Looking Statements
Certain statements made and information containedherein may constitute “forward-looking information” and“forward-looking statements” within the meaning of applicableCanadian and United States securities legislation. These statementsand information are based on facts currently available to the Companyand there is no assurance that actual results will meet management’sexpectations. Forward-looking statements and information may beidentified by such terms as “anticipates”, “believes”,“targets”, “estimates”, “plans”, “expects”, “may”,“will”, “could” or “would”. Forward-looking statements andinformation contained herein are based on certain factors andassumptions regarding, among other things, the estimation of mineralresources and reserves, the realization of resource and reserveestimates, metal prices, taxation, the estimation, timing and amountof 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 theCompany considers its assumptions to be reasonable as of the datehereof, forward-looking statements and information are not guaranteesof future performance, and readers should not place undue importanceon such statements as actual events and results may differ materiallyfrom those described herein. The Company does not undertake to updateany forward-looking statements or information except as may berequired by applicable securities laws. TheCompany's Canadian public disclosure filings may be accessed via www.sedarplus.ca, and readersare urged to review these materials, including any technical reportsfiled with respect to the Company's mineral properties.
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