Mr. Ian Parkinson reports

EMERITA ACHIEVES 81.5% GOLD RECOVERY FOR 27% IMPROVEMENT OVER PREVIOUS METALLURGICAL TESTING FOR IBW PROJECT

Emerita Resources Corp. has provided updated results on its metallurgical testing program for its wholly owned Iberian belt west project for base and precious metals.

The Clevr process optimization for La Romanera deposit is a postflotation stage of metallurgical recovery that is being conducted at Dundee Sustainable Technologies Inc.'s laboratories. A total of 18 optimization tests of the thermal treatment process (pyrolysis and thermal oxidation) were performed during this recent stage of testing. The latest Clevr process results indicate an improved gold recovery of 81.5 per cent for a 27-per-cent improvement relative to previously reported results (17-per-cent increase in gold recovery). This represents an important upgrade relative to the 64.1-per-cent gold recovery that was used for its most recent National Instrument 43-101 mineral resource estimate based on the available results at the time of estimation (see news release dated March 17, 2025). Results for the current testing are shown in the table below.

La Romanera results reported herein are direct experimental data while El Cura numbers reported in this release are calculated from La Romanera metallurgical test data, based on work indicating that El Cura mineralization has similar metallurgical characteristics to La Romanera.

The two-stage Clevr process offers several advantages: It allows for the maximization of base metal recoveries (zinc and copper) and precious metal recoveries (gold and silver) while minimizing waste products. Clevr is a non-cyanide leaching gold process that the company has been exploring, with Dundee Sustainable Technologies engaged in the commercialization of environment-friendly technologies for the treatment of materials in the mining industry. Emerita's vision for the IBW project is a mining project that adheres to the highest environmental standards should it reach a production decision.

The optimization tests confirm a 97.8-per-cent reduction in sulphide content and a 90-per-cent removal of arsenic. This is an important benefit as it will reduce the potential environmental footprint of the operation by reducing the waste produced by approximately half and the waste will not be acid generating.

Additionally, five acid leaching tests were carried out under various conditions for copper and zinc recovery, demonstrating recoveries of 80 per cent for both copper and zinc from La Romanera flotation tailings. These results confirm and slightly improve upon those reported in the initial testwork and the latest mineral resource estimate (see news releases dated March 17, 2025, and Dec. 20, 2024). Seven Clevr process optimization tests were conducted, focusing on maximizing solids concentration, reaction time and reagent consumption (with a 50-per-cent reduction in reagent use). Six out of seven tests showed gold recoveries close to or above 78 per cent.

Joaquin Merino, PGeo, president of Emerita, commented: "The company's continuing investigation into the postflotation process optimization has shown a dramatic improvement in gold recovery for the IBW project. If we were to calculate the impact these results [had] on recovered metals, compared to the initial results (MRE), it would translate into an additional recovery of 159,000 ounces of gold. This would represent an important margin improvement to the IBW project. Based on the grades as published in the 2025 MRE and using the same metal prices, the optimized metallurgical results translate to a AuEq of approximately 4.53 g/t, or a ZnEq of 8.80 per cent or alternatively a CuEq of 3.14 per cent."

Emerita's metallurgical testing has been conducted under the guidance of Jorge Blanco, Emerita's director of metallurgy, in collaboration with Wardell Armstrong International for the flotation testing, and with Dundee Sustainable Technologies out of Quebec, Canada, for the Clevr process testing.

Qualified person

Scientific and technical information in this news release has been reviewed and approved by each of Joaquin Merino, PGeo, president of the company, and Jorge Blanco, MChem, director of metallurgy of the company, each a qualified person as defined by National Instrument 43-101.

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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