Mr. Ian Parkinson reports

EMERITA RESOURCES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Further to its press release dated April 18, 2024, Emerita Resources Corp. has closed a non-brokered private placement financing of 12.5 million units at 40 cents per unit for gross proceeds of $5-million.

Each unit comprises one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of 60 cents for a period of 36 months following the date hereof. Securities issued under the offering carry a hold period of four months and one day from the date hereof, as required under applicable securities laws.

The company plans to use the aggregate net proceeds of the offering to continue the exploration and development work on its Spanish mineral properties, as well as for general corporate working capital purposes.

The offering remains subject to final approval of the TSX Venture Exchange. No finders' fees were paid by the company in connection with the offering.

About Emerita Resources Corp.

Emerita is a natural resource company engaged in the acquisition, exploration and development of mineral properties in Europe, with a primary focus on exploring in Spain. The company's corporate office and technical team are based in Sevilla, Spain, with an administrative office in Toronto, Canada.

We seek Safe Harbor.