Emergent Metals Completes Lease Option to Purchase Agreement with Lahontan Gold Corp. for Mindora (West Santa Fe) Property

VANCOUVER, BC / ACCESSWIRE / July 20, 2023 / Emergent Metals Corp. (TSXV:EMR)(OTC PINK:EGMCF)(FRA:EML)(BSE:EML) (" Emergent " or the " Company ") is pleased to announce that it has completed a Lease with Option to Purchase Agreement ("Agreement") with Lahontan Gold Corp. ("Lahontan"). Lahontan, subject to certain terms and conditions, will have the option ("Option") to acquire a 100% interest in Emergent's Mindora Property, NV ("Mindora" or the "Property") by completing US$1.8 million in cash or share payments and US$1.4 million in work expenditures on the Property (total US$3.2 million) over a seven-year period (see press release dated May 15, 2023, for additional details).

Mindora is a gold, silver, and base metal exploration property located approximately 20 miles southeast of Hawthorne, NV and 10 miles southwest of Lahontan's Santa Fe Property, NV. The Property consists of 147 unpatented mining claims. Lahontan is re-naming the Property West Santa Fe.

David Watkinson, President and CEO of Emergent stated, "We believe putting Emergent's Mindora (aka West Santa Fe) Property together with Lahontan's Santa Fe Property is good for both companies to take advantage of potential synergies between the properties. Santa Fe is a past producing gold mine that is rapidly being advanced through exploration. In January 2023, Lahontan published its maiden resource estimate at Santa Fe with over one million indicated gold equivalent ounces (see Lahontan's January 17, 2023, press release and the Santa Fe Project Technical Report, Santa Fe Project, Santa Fe District, Nevada, USA, prepared for Lahontan Gold Corp., with Effective Date December 7, 2022 and Report Date of March 7, 2023 for details, both available under Lahontan's corporate filings at www.sedar.com). Note that no mineral resources or reserves have yet been delineated on the Mindora Property, but it has over 43,000 feet of historic drilling completed prior to the implementation of National Instrument 43-101."

Cash or share payments will be as follows:

Timing	Amount ($US)
Upon Signing of the Term Sheet	$10,000 (paid)
First Anniversary of Agreement*	$20,000