EMP METALS CLOSES FIRST TRANCHE FINANCING AND ANNOUNCES FURTHER INCREASE TO $3,000,000

EMP Metals Corp. has successfully closed the first tranche of its non-brokered private placement financing, raising gross proceeds of $1,935,500 from 3,871,000 units issued at $0.50 per unit. Due to strong investor demand, the company increased the total offering size from an initial target to a maximum of $3,000,000 (6,000,000 units). Each unit includes one warrant exercisable at $0.70 for one year. Proceeds are designated for the development costs of Lithium Brine Properties in Saskatchewan and general working capital. The securities carry a statutory hold period of four months plus one day. This follows previous announcements on May 12 (up to $1M) and May 25 (upsized to $2M).

The financing closure is Routine - Positive. While the upsizing from $2M to $3M indicates strong investor demand, it does not constitute a material shift in the company's fundamental risk profile or strategic direction. The capital injection extends the cash runway for Project Aurora construction and commissioning, which is critical given the targeted Q3 2026 plant start date. However, the issuance of 3.87 million units at $0.50 (below the recent trading price of $0.55) introduces immediate dilution to existing shareholders. The warrant terms ($0.70 exercise) create future overhang potential if the stock rallies significantly above this level. The news confirms management's ability to raise capital in a challenging market environment but does not de-risk the operational execution of the demonstration plant itself, which remains the primary value driver.

EMP Metals Corp. is focused on developing lithium brine resources in Saskatchewan, Canada. The flagship initiative is Project Aurora, a demonstration plant located at the Viewfield asset. The project utilizes a "Hub and Spoke" model developed with partner Saltworks Technologies Inc., aiming to convert raw brine into battery-grade chemicals directly from wellhead-connected production spokes. * Technology: Direct Lithium Extraction (DLE) using Gen-II technology, designed for lower CAPEX and higher purity than conventional methods. * Status: Construction of the 8,400 sq-ft demonstration plant is complete; equipment delivery began May 2026. Target start-up is Q3 2026. * Scale: The demo plant processes 10 m3/day of raw brine. Data will inform a future commercial refinery capable of producing 1,500–3,000 tonnes per year. * Resource: Over 205,000 net acres in Southern Saskatchewan; shallow low-cost drilling and royalty-free properties (subject to new 3% provincial rate).