Emergent Closes Private Placement

**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

VANCOUVER, BC / ACCESSWIRE / October 23, 2023 / Emergent Metals Corp. ("Emergent" or the "Company") (TSX Venture Exchange:EMR) announces that it has completed a non-brokered private placement (the "Offering") described in its news releases dated July 25, 2023 and September 8, 2023. In connection with the closing of the Offering, the Company issued an aggregate of 1,680,000 units (the "Units") at a price of CDN $0.10 per Unit for gross proceeds of CDN$168,000. Each Unit consists of one common share in the capital of the Company (a "Share") and one whole non-transferable common share purchase warrant(a "Warrant"). Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$0.12per Share until October 23, 2025, which is 24 months from the date of issuance.

Emergent intends to use the net proceeds of the Offering for exploration of Emergent's properties (including property and claims maintenance payments), for property acquisition, and for general working capital purposes. The Offering remains subject to final approval of the TSX Venture Exchange.

The Company will pay aggregate finder's fees of CDN$3,360 and 33,600 share purchase warrants (the "Finder's Warrants") in connection with subscriptions from subscribers introduced to the Offering by qualified finders. Each Finder's Warrant is exercisable to acquire one Share in the capital of the Company at an exercise price of CDN$0.12 per Share until October 23, 2025, which is 24 months from the date of issuance.

The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

About Emergent

Emergent is a gold and base metal exploration company focused on Nevada and Quebec. The Company's strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sale, joint ventures, option, royalty, and other transactions to create value for our shareholders (acquisition and divestiture (A&D) business model). Successful divestitures include the sale of the Troilus North Property to Troilus Gold Corporation (TSX:TLG), sale of the East-West Property to O3 Mining Corporation (TSXV:OIII) and option of the Mindora (aka West Santa Fe Property) to Lahontan Gold Corporation (TSXV:LG).