EMP METALS RECEIVES FIRST SALTWORKS EQUIPMENT DELIVERIES AT PROJECT AURORA DEMONSTRATION PLANT

• EMP Metals received the first seven truckloads of production equipment from Saltworks Technologies at Project Aurora in Saskatchewan on May 6, 2026.
• The delivery marks a transition from construction to operation for the Demonstration Facility.
• Company targets plant start date in Q3 2026 (updated from previous Q2 2026 guidance).
• Demonstration system capacity is designed to process 10 m3/day of raw brine.
• Saltworks will use data from this phase to advance design for a commercial refinery capable of producing 1,500–3,000 tonnes per year.
• Resource characteristics noted as free of hydrogen sulfide (H2S) and oil-derived organics with shallow low-cost drilling potential.

• Progress Validation: The arrival of equipment confirms the project is moving from construction to operation, validating the partnership with Saltworks Technologies. This reduces execution risk regarding technology integration.
• Timeline Adjustment: Guidance shifted from Q2 2026 start (Jan 2026 news) to Q3 2026 start. While a delay, it aligns with equipment delivery timing and does not indicate technical failure. The CEO states the project is "on schedule" relative to current milestones.
• Funding Context: Recent government funding ($3.2M NGen + $1M Innovate BC) and private financing ($3M Tembo loan + $2.1M equity) provide sufficient runway for this demonstration phase, reducing immediate capital risk.
• Market Reaction: Stock price has corrected from January highs ($0.93) to current levels (~$0.57). This news provides a floor but is unlikely to trigger a significant breakout without production results or commercial scale announcements.
• Dilution Risk: Tembo Capital holds ~19.6% non-diluted equity with warrants convertible at $0.425 (below current price), creating potential overhang if exercised, though resale restrictions apply for four months from issuance dates in early 2026.

• Company: EMP Metals Corp., a lithium exploration company focused on brine resources in Saskatchewan.
• Flagship Project: Project Aurora (Viewfield Asset).
• Technology Partner: Saltworks Technologies Inc. (Gen-II DLE technology).
• Project Type: Direct Lithium Extraction (DLE) demonstration plant converting raw brine to battery-grade chemicals.
• Location: Viewfield, Saskatchewan, Canada.
• Resource: Over 205,000 net acres of subsurface dispositions in Southern Saskatchewan.
• Royalty Structure: Saskatchewan government set lithium royalty at 3% with a two-year holiday for new production (Sept/Oct 2025).