Emperor Announces Annual General Meeting Results

Vancouver, B.C., July 27, 2012 - Emperor Minerals Ltd. (TSXV: EM) ("Emperor" or the "Company") announces that at its annual general meeting held on July 26, 2012 (the "AGM"), the Company's shareholders approved the change of the Company's name to "Emperor Oil Ltd.". The Company's name change is expected to be enacted at a future date following formal approval by the Company's board of directors and the TSX Venture Exchange (the "Exchange").

The Company elected four directors at the AGM including Andrew McCarthy and Mark Bloom as returning directors and John McLeod and Matthew Hamilton as new directors of the Company. BDO Canada LLP, Chartered Accountants, was also re-appointed as the auditor of the Company. The Company would like to offer thanks to previous directors Brad Culver and Brian Gracey who did not stand for re-election at the AGM.

Mr. McLeod is a Professional Engineer with 40 years resource extraction experience in the upstream oil and gas industry. Throughout his career he has held a variety of upper management and board titles including Chief Engineer with Amoco Canada, Vice President Operations with Pengrowth Gas Company, Director with Heritage Oil and Chief Executive Officer of Canoro Resources. Mr. McLeod is a skilled negotiator who has a keen understanding of international operating procedures; having served as President and Chief Executive Officer of Arakis Energy Corp. (Sudan) and Rally Energy Corp. (Egypt and Pakistan). Mr. McLeod achieved a Bachelor Science degree in Mechanical Engineering from the University of New Brunswick and is a Past-President of the Association of Professional Engineers and Geoscientists of Alberta.

Mr. Hamilton has been a managing partner at Avail Capital Partners Inc. since October 2007, is President and Chief Executive Officer of Arriba Resources Inc., and is Vice President of Oakmont Capital Corp. (OMK.P). Mr. Hamilton is experienced in both finance and natural resource management, working primarily in the public market place as an investment banker and in a corporate communications capacity. Mr. Hamilton is a successful entrepreneur who has been instrumental in taking several private companies public via self filing, reverse takeover and initial public offering transactions that have gone on to raise over $100 million.

The Company also announces that at the AGM all other resolutions that shareholders were asked to consider were approved.

About Emperor Minerals Ltd.

Emperor is an international oil and gas company with a late stage exploration and near term production project in Turkey. The Company is directed by an experienced group of business professionals who have leveraged their contacts within the global community to identify significant land parcels and strategic partnerships within regions of influence. The Company's management team boasts a keen understanding of oil and gas exploration, production procedures and market strategies. Management is focused on growing the Company through near term production and an acquisition strategy in Turkey and North Africa.

For further information please contact Wanda Cutler, investor relations for the Company, at (416) 303-6460 or wanda@cutlermccarthy.com.

ON BEHALF OF THE BOARD

"Andrew McCarthy"

Andrew McCarthy

President and Chief Executive Officer
www.emperorminerals.com

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", 'suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", 'should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Emperor's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.