Mr. David Gower reports

EMERITA AWARDS PRE-FEASIBILITY STUDY CONTRACT FOR THE IBERIAN BELT WEST PROJECT TO SLR CONSULTING

Emerita Resources Corp. has awarded the contract for completion of the Iberian Belt West (IBW) prefeasibility study (PFS) to SLR Consulting Ltd. (formerly Wardell Armstrong). The PFS will be designed to meet National Instrument 43-101 requirements. Wardell Armstrong, which was acquired by SLR in October, 2024, has been the qualified person responsible for the mineral resource estimates to date at IBW and has been extensively involved in IBW metallurgical testing. SLR was awarded this engagement after a diligent tendering process. The initial group of 23 companies were narrowed down to a short list of five, from which detailed proposals were considered. The SLR proposal provided the best fit in terms of timing, expertise familiarity with the IBW project and other projects in the region, and overall value. The PFS is expected to be completed in approximately six months.

David Gower, PGeo, chief executive officer of Emerita, commented: "Our team is excited to launch this phase of the IBW project development. We have continued to grow the mineral resources at IBW's El Cura deposit throughout this year and have completed the requisite infill drilling to convert inferred resources to indicated and measured categories that permit them to contribute to a PFS-level study."

The PFS will represent the first independent third party evaluation of the IBW project and will include:

• Mine to mill design;
• Process plant and process flow sheet design;
• Surface infrastructure design;
• Capital and operating cost consideration;
• Financial analysis.

Qualified person

Scientific and technical information in this news release has been reviewed and approved by Joaquin Merino, PGeo, and Dan Oosterman, PGeo, who are qualified persons as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Merino is president of the company and Mr. Oosterman is project director of the IBW development project. Mr. Merino and Mr. Oosterman are 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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