Emergent Metals Corp. Reports Positive Drill Results From West Santa Fe, NV (TheNewswire) Vancouver, British Columbia – TheNewswire - February 23, 2026 – Emergent Metals Corp. (TSXV: EMR, OTC: EGMCF, FRA: EML, MUN: ELM) (“Emergent” or the “Company”) is pleased to announce that Lahontan Gold Corp. (TSXV: LG)(“Lahontan”) has reported the first assay results from its 2025 maiden drilling program (the “Program”) at Emergent’s West Santa Fe Property (“West Santa Fe” or the “Property”). As announced by press release on May 15, 2023, and July 20, 2023, 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. The results below are from the first three of 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. It 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. Results reported by Lahontan in their February 5, 2026, and February 18, 2026 press releases (see Lahontan press release dated February 5, 2026, and Lahontan press release dated February 18, 2026) are shown in Tables 1 and 2 below. Table 1: Drill Hole Information Hole No. Hole Length (m) Azimuth Inclination WSF25-02R 91.4 Vertical Vertical WSF25-05R 120.4 180 -60 WSF25-06R 105.2 155 -50 Table 2: Assay Information Hole No. From (m) To (m) Interval (m) Au (g/t) Ag (g/t) AuEQ (g/t) WSF25-02R 13.7 62.5 48.8 0.39 38.4 0.83 Including 47.2 57.9 10.7 0.98 72.5 1.83 WSF25-05R 0 45.7 45.7 0.36 24.7 0.64 Including 33.5 42.7 9.2 0.54 63.9 1.29 Including 68.6 76.2 7.6 0,74 23.3 1.06 WSF25-06R 24.4 79.3 54.9 0.52 40.5 1.00 Including 27.4 44.2 16.8 0.85 76.4 1.75 Including 64.0 77.7 13.7 0.70 52.2 1.32 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. See Lahontan’s February 5, 2026, and February 18, 2026, press releases for details. For hole WSF25-06R, the true thickness of the intercepts is estimated to be 80-100% of the drilled interval. For holes WSF25-02R and WSF25-05R, the true thickness of intercepts is estimated to be 75-90% of the drilled interval. Numbers may not total precisely, due to rounding. Cross sections and plan views of the drill hole locations are included in Lahontan’s February 5, 2026, and February 18, 2026, press releases. Lahontan reported that the intercepts represent down-hole depths and that, based on the −50° drill inclination, the mineralized interval in hole WSF25-06R begins at approximately 19 metres below surface. Excerpts and Summaries from Lahontan Gold Corp.’s February 5, 2026, and February 18, 2026, Press Releases 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. These historic metallurgical results are historical in nature, were compiled from third-party archives, and have not been verified by a Qualified Person for Emergent. They are not current, should not be relied upon as a verified or representative estimate of recovery, and Lahontan has indicated that additional metallurgical test work would be required to verify the historic data. 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 indicated that the gold and silver mineralization has a surface expression of 500 m by 350 m. Based on drilling to date, mineralization varies from 35 m to almost 60 m, although folding may increase this thickness. Lahontan has multiple drill sites permitted to the west, north, and east of this central, outcropping mineralized zone. More drill results are expected shortly, and planning is underway for follow-up drilling. Emergent has not verified the technical information reported by Lahontan. Emergent Retains Winning Media L