Vancouver, British Columbia — February 25, 2026 — Leads & Copy —
Emergent Metals Corp. (TSXV: EMR, OTC: EGMCF, FRA: EML, MUN: EML) announced that Lahontan Gold Corp. (TSXV: LG) has reported additional assay results from its 2025 maiden drilling program at Emergent’s West Santa Fe Property.
Lahontan has the option to acquire a 100% interest in 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 seven years, as announced in press releases on May 15, 2023, and July 20, 2023.
The results are from all six reverse circulation (“RC”) holes completed by Lahontan in late 2025, totaling 593 meters.
West Santa Fe hosts a gold and silver exploration target located about 13 km from Lahontan’s flagship Santa Fe Mine Project and represents a potential satellite deposit to the Santa Fe Mine, subject to exploration success. The exploration database includes 171 drill holes totaling about 13,000 meters, with historic drilling completed in the 1980s and 1990s. This is the first modern drilling completed on the Property since that time.
Lahontan’s results are detailed in press releases dated February 5, 2026, February 10, 2026, February 18, 2026, and February 24, 2026. Emergent previously reported results from three holes (WSF25-02R, WSF25-05R, and WSF25-06R) in a February 23, 2026, press release. The tables include results from all six holes, including newly reported holes WSF25-01R, WSF25-03R, and WSF25-04R. WSF25-04 was the best hole reported, with 36.6 m grading 3.11 g/t AuEq, including 10.7 m grading 5.75 g/t AuEq.
Drill Hole Information
Hole No.Hole Length (m)AzimuthInclinationWSF25-01R91.4VerticalVerticalWSF25-02R91.4VerticalVerticalWSF25-03R91.4VerticalVerticalWSF25-04R91.4VerticalVerticalWSF25-05R120.4180-60WSF25-06R105.2155-50
Assay Information
Hole No.From (m)To (m)Interval (m)Au (g/t)Ag (g/t)AuEQ (g/t)WSF25-01R38.144.26.11.0540.61.53WSF25-02R13.762.548.80.3938.40.83Including47.257.910.70.9872.51.83WSF25-03R15.256.441.21.1865.01.94Including47.251.89.13.3675.64.14WSF25-04R0.036.636.61.47140.13.11Including1.512.210.73.13224.45.75Including22.935.112.21.37197.23.67WSF25-05R045.745.70.3624.70.64Including33.542.79.20.5463.91.29Including68.676.27.60.7423.31.06WSF25-06R24.479.354.90.5240.51.00Including27.444.216.80.8576.41.75Including64.077.713.70.7052.21.32
Notes to Tables: AuEQ equals Au (g/t) + ((Ag g/t/60)*0.70). Silver grade for calculating AuEQ is adjusted to consider the estimated metallurgical recovery reported by Kappes Cassiday (1982), as disclosed by Lahontan. True thickness estimates for intercepts vary by hole. Numbers may not total precisely, due to rounding. Cross sections and plan views of the drill hole locations are included in Lahontan’s press releases.
David Watkinson, President and CEO of Emergent, said that the drill results are extremely encouraging as they help to validate historic drilling results on the Property from the 1980’s and 1990’s and that the potential exists, with additional drilling, for Lahontan to delineate a mineral resource that could be developed as a satellite operation of their Santa Fe Project.
Lahontan has reported that West Santa Fe has been explored historically by drilling completed primarily in the 1980s, with additional drilling in the 1990s, and that its internal modeling of historic drilling suggests potential for shallow oxidized gold and silver mineralization. Lahontan has also reported that historic metallurgical test work was completed on the project, including cyanide column leach tests, and cited a 1982 summary report by Kappes Cassiday and Associates that suggested recoveries of 70% gold and 50% silver using a cyanide heap leach process.
Lahontan further reported that gold and silver mineralization at West Santa Fe is hosted by limestone of the Triassic Pamlico Formation, with mineralized intervals characterized by iron oxides, minor quartz veining, and decalcification, and that bedding and fault structures are important controls on higher grade mineralization.
Lahontan indicates that the gold and silver mineralization has a surface expression of 500 m by 350 m, with a true thickness of 35 m to over 60 m. With oxide mineralization starting at the surface, Lahontan has stated that, subject to additional drilling, metallurgical testing and economic studies, there may be potential to evaluate the system for open-pit mining and heap leach processing. Lahontan is continuing to model the West Santa Fe system to better understand the geology and geometry of gold and silver mineralization, and additional drilling is being planned in the spring of 2026.
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 sales, joint ventures, options, royalties, and other transactions to create value for our shareholders – an acquisition and divestiture business model.
In Nevada, Emergent’s Golden Arrow Property is an advanced-stage gold and silver property with a well-defined measured and indicated resource and a Plan of Operations and Environmental Assessment in place to conduct a major drilling program. Emergent is in the process of selling Golden Arrow to Fairchild Gold Corp. (TSXV: FAIR). New York Canyon is an advanced-stage copper skarn and porphyry exploration property. The West Santa Fe Property is subject to a Lease with an Option to Purchase Agreement with Lahontan Gold Corporation (TSXV: LG). Buckskin Rawhide East is a gold and silver property leased to Rawhide Mining LLC, operators of Rawhide Mine.
In Quebec, the Casa South Property is a gold exploration property located south of and adjacent to Hecla Mining Company’s (NYSE: HL) operating Casa Berardi Mine and north of and adjacent to IAMGOLD Corporation’s (NYSE: IAG) Gemini Turgeon Property. The Trecesson Property is a gold exploration property located about 50 km north of the Val d’Or mining camp.
Emergent has a 1% NSR in the Troilus North Property, part of the Troilus Gold Project, being advanced by Troilus Mining Corporation (TSX: TLG) toward production. The Company has a 1% NSR in the East-West Property, part of Agnico Eagle Mines Limited (NYSE: AEM) Canadian Malartic Complex. Emergent also has a 1% NSR on the York Property, part of Lahontan Gold’s (TSXV: LG) Santa Fe Project in Nevada is also being advanced toward production.
Emergent has not verified the data disclosed in this news release that was reported by Lahontan Gold Corp. The technical information disclosed by Lahontan was reviewed and approved by a Qualified Person as disclosed in Lahontan’s February 5, 10, 18, and 24, 2026, press releases. All other scientific and technical information contained in this news release was reviewed and approved by David Watkinson, P.Eng., a non-independent Qualified Person for Emergent under National Instrument 43-101.
For more information on the Company, investors should review the Company’s website or view the Company’s filings available at www.sedarplus.ca.
Source: Emergent Metals Corp.
