Emperor Minerals hires Cutler McCarthy for IR services

Vancouver, B.C. May 07, 2012 - Emperor Minerals Ltd. (TSX: EM.V)

Emperor Minerals Ltd. has retained Cutler McCarthy Inc. to provide investor relations services to the company over a 12-month renewable term, subject to TSX Venture Exchange approval. Cutler McCarthy, founded by Wanda Cutler and Miranda McCarthy, will provide assistance with the Company's investor relations and public relations efforts to strengthen its investor relations and communications to shareholders and investors. Cutler McCarthy is a "non-arm's length party", as defined by the policies of the Exchange due to the majority shareholder of Cutler McCarthy, Miranda McCarthy, being the spouse of Andrew McCarthy, the President and Chief Executive Officer of the Company.

"We are preparing to drill 2 new wells in Turkey's Thrace Basin and are working to expand our portfolio of near term production projects in the Middle East and North Africa. 'Emperor' should be recognized as a growth leader in the oil and gas industry and 'Cutler McCarthy' can put us in front of the right people in the brokerage and analyst community. They will be an integral part of our investor relations team." stated CEO and President Andrew McCarthy.

About Cutler McCarthy Inc.
Cutler McCarthy is a Toronto-based financial communications firm which provides marketing communications and investor relations services to specific publicly traded companies with a goal to increase shareholder value by creating investor relations programs that raise awareness among stockbrokers, analysts, portfolio managers, institutional and venture capital investors, individual investors, and the media. Cutler McCarthy has a proven track record and experience in marketing and investor relations. Cutler McCarthy will provide investor relations and marketing services for the Company, including, but not limited to, Company information dissemination to the public and Emperor's shareholders, assistance with Company events and advertising, and advising the Company with respect to its corporate development. Cutler McCarthy is wholly-owned by Wanda Cutler (49%) and Miranda McCarthy (51%) and does not hold, directly or indirectly, any securities of the Company.

Investor Relations Agreement
Under the renewable agreement, Cutler McCarthy will receive a fee of $5,000 per month plus HST plus expenses incurred in connection with the agreement. In addition, Cutler McCarthy will receive 500,000 incentive stock options (the "Options") to purchase common shares in the capital of the Company (the "Shares"), exercisable at a price of $0.20 per Share up to and including the earlier of the date which is twelve months from the date of the grant of the Options or the 30th day after Cutler McCarthy ceases to provide services to the Company. The Options will vest in stages over a twelve-month period with 1/4 of the Options vesting in every three month period.

The renewable agreement may be terminated by either party after three months by providing 30-day written notice to the other party of such termination.

About Emperor Minerals Ltd: Emperor Minerals 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 secure significant land parcels and strategic partnership agreements within regions of influence. The Company's management team boasts a keen understanding of oil and gas exploration, production procedures and market strategies. They are mutually focused on growing the company through near term production and an acquisition strategy in Turkey, the Middle East and North Africa.

ON BEHALF OF THE BOARD

“Andrew McCarthy”

Andrew McCarthy President and Chief Executive Officer

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.