Mr. Ian Parkinson reports

EMERITA FILES NI 43-101 TECHNICAL REPORT FOR THE IBW PROJECT, MARKING A 35% INCREASE IN TOTAL INDICATED RESOURCES AND A 44% INCREASE IN TOTAL INFERRED RESOURCES

Emerita Resources Corp. has filed the independent National Instrument 43-101 compliant technical report for its Iberian Belt West project in Andalusia, Spain, supporting the updated mineral resource estimate (MRE) for the project announced on March 17, 2025. The technical report, titled "NI 43-101 Technical Report on the Iberian Belt West Project, Spain" was prepared by Wardell Armstrong International Ltd. (WAI), a part of SLR Consulting, in accordance with NI 43-101, Standards of Disclosure for Mineral Projects, and has an effective date of Feb. 26, 2025.

The MRE is based on 105,554 metres of drilling by the company comprising 299 drill holes and is hosted in three volcanogenic massive sulphide deposits on the project: La Romanera (LR), La Infanta (LI) and the more recently delineated El Cura (EC) deposit (LR: 169 holes totalling 70,344 metres; LI: 91 holes totalling 20,975 metres; EC: 39 holes totalling 14,235 metres). All three deposits remain open for further expansion by future drilling. The IBW project is reporting:

• A total indicated MRE of 18.96 million tonnes grading 2.88 per cent zinc, 1.42 per cent lead, 0.5 per cent copper, 66 grams per tonne silver, and 1.28 grams per tonne gold (8.44 per cent zinc equivalent or 3.01 per cent copper equivalent);
• A total inferred MRE of 6.80 million tonnes grading 3.25 per cent zinc, 1.50 per cent lead, 0.73 per cent copper, 56.3 grams per tonne silver and 0.77 gram per tonne gold (8.72 per cent zinc equivalent or 3.00 per cent copper equivalent);
• The La Romanera deposit contains an indicated MRE of 17.34 million tonnes grading 2.64 per cent zinc, 1.25 per cent lead, 0.43 per cent copper, 65 grams per tonne silver and 1.34 g/t gold, with an inferred MRE of 4.13 million tonnes grading 3.08 per cent zinc, 1.27 grams per tonne lead, 0.61 per cent copper, 49.7 grams per tonne silver and 0.82 gram per tonne gold;
• The La Infanta deposit contains an indicated MRE of 1.09 million tonnes grading 7.38 per cent zinc, 4.39 per cent lead, 1.08 per cent copper, 94.6 grams per tonne silver and 0.35 gram per tonne gold with an inferred MRE of 1.91 million tonnes grading 4.08 per cent zinc, 2.23 per cent lead, 0.66 per cent copper, 74 grams per tonne silver and 0.38 gram per tonne gold;
• The El Cura deposit contains an indicated MRE of 530,000 tonnes grading 1.58 per cent zinc, 0.69 per cent lead, 1.45 per cent copper, 42.9 grams per tonne silver and 1.41 grams per tonne gold with an inferred MRE of 760,000 tonnes grading 2.08 per cent zinc, 0.91 per cent lead, 1.51 per cent copper, 48 grams per tonne silver and 1.46 grams per tonne gold.

The technical report is available on SEDAR+ under Emerita's issuer profile and on the company's website.

Qualified persons

Frank Browning, MSci, MSc, PGCert, FGS, CGeol, MSc, of WAI is a qualified person as defined by NI 43-101 and has reviewed and approved the technical information and data regarding the MRE included in this news release. Mr. Browning is independent of Emerita. All other scientific and technical information in this news release has been reviewed and approved by Joaquin Merino, PGeo, president and director of Emerita, a qualified person.

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.

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