Mr. Ian Parkinson reports

EMERITA APPEALS AZNALCOLLAR ADMINISTRATIVE RULING

Emerita Resources Corp. has appealed the ruling of the Tribunal Superior De Justicia De Andalucia of the administrative court with respect to Emerita's complaint filed in 2017 against the Junta de Andalucia, specifically, the Andalucian government panel that awarded the Aznalcollar public tender, requesting that the court rule that: (i) the junta had committed a "via de hecho," which is an administrative action that completely disregards the legally established procedure or that clearly lacks any possible legal basis; (ii) the acceptance of the mineral rights to the Aznalcollar project by Minera Los Frailes SL (MLF), an entity that did not participate in the tender, is a via de hecho; and (iii) any actions by MLF related to the Aznalcollar project are a via de hecho.

In April, 2025, the court ruled against Emerita's complaint; however, Emerita has formally filed an appeal against this decision and the court has ruled that Emerita has satisfied the formal requirements for an appeal of this decision. Pursuant to the appeal process, the Tribunal Supremo, based in Madrid, must now rule on whether there are grounds for an appeal, and if so, on the merits of the case. Please see the company's April 17, 2025, press release for further details regarding the complaint.

This complaint is distinct from Emerita's other and more significant administrative case regarding the various alleged irregularities by the junta in adjudicating the tender, which the company initiated in 2015. The court has previously determined that the facts in the criminal case and the administrative case are substantially similar and has decided to suspend issuing its resolution on the administrative case pending the outcome of the criminal trial. This is expected to make available for the court all of the evidence and testimony from the Aznalcollar criminal trial (please see the company's press release dated May 2, 2022, for additional details regarding the administrative case).

Emerita looks forward to the completion of the Aznalcollar criminal trial and administrative case. A resolution favourable to Emerita will result in a significant increase to Emerita's presence in the Iberian pyrite belt in terms of both resources and strategic land position.

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.