Mr. Ian Parkinson reports

EMERITA INTERSECTS 16.9 METERS GRADING 1.4% COPPER, 2.1% ZINC, 0.93 G/T GOLD, 42.66 G/T SILVER AND 7.2 METERS GRADING 1.0% COPPER, 1.9% ZN, 1.31 G/T GOLD, 60.10 G/T SILVER AT EL CURA DEPOSIT

Emerita Resources Corp. has released the results from its continuing resource expansion and infill drilling campaign at its El Cura deposit. El Cura is part of Emerita's wholly owned Iberian Belt West (IBW) project, which includes three volcanogenic massive sulphide (VMS) deposits: La Romanera, El Cura and La Infanta.

The El Cura deposit has potential to significantly increase IBW resource tonnes with additional high-grade gold and copper mineralization. The company has approved an additional 10,000 metres (m) of diamond drilling at El Cura due to the results of the program to date, which demonstrate the deposit remains open for possible expansion at modest depth. This drilling will focus on converting the previously delineated inferred mineral resource estimate to an indicated mineral resource estimate in support of economic studies, as well as extending the lower and western regions of the known resource.

Recent results from the continuing drilling campaign at El Cura include:

• Drill hole EC057: 3.1 m grading 2.3 per cent copper, 1.8 per cent lead, 4.7 per cent zinc, 2.21 grams per tonne (g/t) gold and 78.71 g/t silver, including a 1.9 m interval grading 3.3 per cent copper, 2.5 per cent lead, 6.2 per cent zinc, 3.13 g/t gold and 110.58 g/t silver;
• Drill hole EC062: 7.2 m grading 1.0 per cent copper, 1.4 per cent lead, 1.9 per cent zinc, 1.31 g/t gold and 60.10 g/t silver;
• Drill hole EC067: 16.9 m grading 1.4 per cent copper, 1.0 per cent lead, 2.1 per cent zinc, 0.93 g/t gold and 42.66 g/t silver, including a 3.1 m interval grading 1.1 per cent copper, 1.5 per cent lead, 3.5 per cent zinc, 1.46 g/t gold and 59.69 g/t silver;
• Drill hole EC068: 2.7 m grading 1.3 per cent copper, 1.0 per cent lead, 3.2 per cent zinc, 1.58 g/t gold and 46.59 g/t silver.

Table 1 shows drill results received subsequent to company's July 14, 2025, news release.

Discussion

Methodical definition drilling has shown a distinct westward plunge to the deposit and the company continues to trace this trend with drilling. Additional drill holes are in progress nearer to surface to rapidly and cost-effectively grow the resource up dip. The majority of the reported results are in the upper western, lower eastern and lower central portions of the deposit. To the east, holes EC049C, EC064 and EC066 tested the lower eastern portion of the deposit, and the heart of the eastern zone has returned the thickest intercept yet at El Cura, in hole EC067. The central portion of the deposit continues to return notable results, as indicated by holes EC063 and EC059B (table 1). Hole EC068 returned the third highest interval gold and silver grades at El Cura (2.7 m grading 1.58 g/t gold and 46.59 g/t silver), after holes EC034 (1.1 m grading 3.47 g/t gold and 148.18 g/t silver) and EC029B (0.8 m grading 3.93 g/t Au and 213.00 g/t silver). In accordance with the westward plunge of the mineralization, holes EC060 and EC061 limit the upper margin of the deposit to the west, passing above the plunge of the massive sulphide layer, 130 m from surface.

El Cura holds significant expansion potential at depth. With over 70 holes completed in the program, Emerita has demonstrated mineralization is more extensive than indicated by historical work in the 1970s and 1980s by previous operators. In the historical program, a single hole that tested 73 m below surface was thought to close the deposit to the west but was too shallow to intercept the plunging mineralized zone. Emerita hole EC046 intercepted 8.9 m grading 1.1 per cent copper, 0.3 per cent lead, 0.0 per cent Zn, 1.21 g/t gold and 15.48 g/t silver 230 m below the historical hole. Likewise, the deepest historical hole anywhere at El Cura intercepted the zone of interest 220 m below surface, passing through a weakly mineralized zone of unsampled low grade. On this same section, however, Emerita has intercepted 1.7 m grading 0.9 per cent copper, 2.1 per cent lead, 4.1 per cent zinc, 2.12 g/t Au and 69.82 g/t Ag in hole EC021, 270 m below the historical blank hole and 413 m below surface, as well as 3.0 m grading 0.9 per cent Cu, 1.3 per cent Pb, 1.1 per cent Zn, 1.33 g/t Au and 53.46 g/t Ag in hole EC053, 214 m below the historical blank hole and 357 m below surface, among others. The company will continue to delineate the El Cura resource, which has not been fully outlined and potential exists well below the historical, superficial investigations.

"The ongoing success of the drill program at El Cura has led us to approve an additional 10,000 metres of drilling as the deposit remains open for expansion and continues to deliver intercepts of excellent thickness and grade. We are particularly interested in the improved understanding of the structural controls of the mineralization, which suggest that previous investigators walked away without fully exploring the downplunge potential at El Cura," states Joaquin Merino, PGeo, president of Emerita.

Quality assurance/quality control (QA/QC)

Drilling at El Cura is HQ size and core is placed into core trays at the drill site and transported directly from the site to Emerita's coreshack (15 kilometres (km)) from El Cura. Once the cores are received at Emerita's coreshack, they are photographed and geotechnical logging is performed. Geological, mineralogical and structural logging follows, and mineralized zones are identified. The samples are marked every one m or less, and respecting lithological contacts, with most of the samples 1.0 m long. The zone immediately above and below the mineralized zones are also sampled. Core samples are sawed in half and half of the core is returned to the core tray for future reference. Once the core samples are cut, bagged and tagged, they are shipped to the ALS laboratory in Seville by Emerita personnel, where sample preparation is done. In Seville, ALS performs the mechanical preparation of the samples and then the pulps are sent to ALS Ireland (ICP (inductively coupled plasma)) and ALS Romania (fire assay). The analysis at ALS Lab corresponds with the ME-ICPore (19 elements) package, together with the Au-AA23 fire assay (gold).

Ten per cent of the analyzed samples correspond with control samples (fine blanks, coarse blanks, and high-, medium- and low-grade standards). In addition, 10 per cent of pulps are reanalyzed at a second independent certified laboratory (AGQ Lab Sevilla). When the analysis is completed, the certificates are received from the laboratory, and the QA/QC protocol identifies any deviation or anomaly in the results, and the entire batch is reassayed in such case. Once the data are approved by the QA/QC protocol assays are entered digitally directly into the database.

Qualified person

Scientific and technical information in this news release has been reviewed and approved by Joaquin Merino, PGeo, who is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and president of the company.

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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