Mr. Ian Parkinson reports

EMERITA EXTENDS EL CURA DEPOSIT 90 METERS WESTWARD, INTERSECTING 4.1 METERS GRADING 3.9% COPPER, 3.6% LEAD 8.5% ZINC, 4.08 G/T GOLD AND 96.4 G/T SILVER

Emerita Resources Corp. has released diamond drilling results that continue to intersect high grades and significantly expand the El Cura deposit. The latest drill hole (EC080) intercepted excellent grades and extends the mineralization at least 90 metres farther to the west. The company has approved an additional 12,000 metres of drilling to continue the expansion drilling at El Cura. El Cura is part of Emerita's wholly owned Iberian Belt West project, which includes three identified volcanogenic massive sulphide (VMS) deposits: La Romanera, El Cura and La Infanta. Results contained in this news release are from El Cura deposit.

A complete list of drill holes completed since the last update (news release dated Aug. 20, 2025) are included in Table 1. Recent highlights from the continuing drilling campaign at El Cura include:

• Drill hole EC080: 4.1 m grading 3.9 per cent copper, 3.6 per cent lead, 8.5 per cent zinc, 4.08 grams per tonne gold and 96.39 g/t silver, including a 1.4 m interval grading 5.7 per cent copper, 4.1 per cent lead, 9.7 per cent zinc, 3.89 g/t gold and 102.86 g/t silver;
• Drill hole EC069: 3.8 m grading 1.8 per cent copper, 2.3 per cent lead, 6.2 per cent zinc, 3.60 g/t gold and 70.24 g/t silver, including a 1.0 m interval grading 3.3 per cent copper, 3.5 per cent lead, 10.1 per cent zinc, 5.89 g/t gold and 103.50 g/t silver;
• Drill hole EC070: 2.5 m grading 1.2 per cent copper, 0.4 per cent lead, 1.2 per cent zinc, 4.37 g/t gold and 33.40 g/t silver, including a 1.0 m interval grading 1.8 per cent copper, 0.3 per cent lead, 1.3 per cent zinc, 10.05 g/t gold and 40.00 g/t silver;
• Drill hole EC077: 2.9 m grading 1.0 per cent copper, 0.2 per cent lead, 0.1 per cent zinc, 1.77 g/t gold and 21.24 g/t silver, including a 1.2 m interval grading 2.0 per cent copper, 0.3 per cent lead, 0.2 per cent zinc, 3.83 g/t gold and 23.0 g/t silver;
• Drill hole EC075: 3.5 m grading 0.7 per cent copper, 0.4 per cent lead, 0.7 per cent zinc, 0.67 g/t gold and 25.09 g/t silver, including a 1.1 m interval grading 1.9 per cent copper, 0.4 per cent lead, 0.3 per cent zinc, 1.21 g/t gold and 30.00 g/t silver.

Table 1 details drill results contained in this news release.

Table 1: Recent drilling results received for the El Cura deposit

Discussion

Immediately following the updated 2025 MRE (mineral resource estimate) (please see the company's press release dated March 17, 2025, for further details), drills were engaged with the objective of converting inferred mineralization to the indicated category and on expanding the deposit extents at depth and to the west.

Drilling is presently from three platforms along approximately 650 m of strike length. Holes reported here targeted the upper, lower and western extents of the deposit. All holes returned mineralized intercepts with the exception of EC073 that encountered faulting in the expected target area not seen in nearby hole EC004 (3.0 m 0.6 per cent copper, 1.2 per cent lead, 2.0 per cent zinc, 1.12 g/t gold, 38.13 g/t silver). EC073 is one of a series of holes designed to test the upper 150 m of the central portion of the deposit with a specialized drill rig capable of drilling shallow-angle holes.

High gold and copper grades continue to characterize El Cura deposit. Several holes at El Cura have returned high-grade intercepts, with gold grades exceeding 4.0 g/t and copper grades exceeding 5.0 per cent. Drill hole EC080 intercepted 4.1 m thick massive sulphide grading 3.9 per cent copper, 3.6 per cent lead, 8.5 per cent zinc, 4.08 g/t gold and 96.39 g/t silver, extending the western boundary of El Cura by 90 m. This notable intercept extended the deposit still further, proving that mineralization remains open to the west and at depth, with strong continuity of high-grade zones consistent with the overall geometry of the system.

Historic workings at El Cura were limited to several shallow shafts of less than 24 m during the Roman era, and shaft and drift exploration in the mid-20th century. The only recorded production from the deposit dates to 1882, which amounted to 300 tonnes. These modest workings are approximately 600 metres to the east of the deposit the area presently being drilled by Emerita. In Emerita's mapping and reconnaissance of the property only small traces of oxidized sulphide were observed in the vicinity of the historic workings, there is no surface expression of the mineralization in the area being drilled. As such, the company interprets El Cura as an intact deposit, undeveloped and uneroded, with its full potential yet to be realized. Mapping has identified areas of intense boxwork and gossan along with strong chloritization at surface to the west of the present drilling. Chloritization and gossanous boxwork alteration are common identification criteria for VMS deposits globally and suggest excellent potential in that direction.

A qualified person, as defined in National Instrument 43-101, has not done sufficient work on behalf of Emerita to classify the historical results reported above as current mineral resources or mineral reserves and Emerita is not treating the historical estimate as current mineral resources or mineral reserves. The historical results should not be relied upon.

Reviewing recent results of the El Cura drill program, Emerita president Joaquin Merino commented: "The exceptional results of recent drilling in western El Cura, including copper grades of 5.7 per cent and gold grades to 10 g/t, demonstrate the existence of zones of significant enrichment and the persistence of the deposit to the west and at depth. Holes EC069, EC075, EC077 and EC080 of this news release are west of the inferred resource boundary reported in March, 2025, and are expected to contribute substantially to the growing resource at El Cura and the IBW project overall."

Given the consistent high-grade results and continued expansion of the deposit, Emerita has elected to extend the El Cura drill program by an additional 12,000 metres to continue testing the western and deeper portions of the system.

Quality assurance/quality control

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) 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) and ALS Romania (fire assay). The analysis at ALS Lab corresponds to the ME-ICPore (19 elements) package, together with the Au-AA23 fire assay (gold). ALS is independent of Emerita.

Ten per cent of the analyzed samples correspond to control samples (fine blanks, coarse blanks, 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. Mr. Merino is president of the company and is not considered independent of Emerita.

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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