Mr. Ian Parkinson reports

EMERITA RECEIVES OFFICIAL COURT RESOLUTION IN AZNALCÓLLAR TRIAL

The Third Section of the Provincial Court of Seville has determined that it will not impose any criminal convictions on any of the accused in the Aznalcollar criminal trial.

Emerita Resources Corp. is surprised and disappointed that the court did not deem that criminal convictions were warranted in this case despite clear irregularities in the Aznalcollar public tender process established by previous judicial rulings. Emerita respects the court's decision and will review the court's written resolution in detail with its Spanish legal counsel to determine whether a further response is appropriate. The company will provide further comments with respect to the ruling once legal counsel has had the opportunity to fully analyze the 215-page resolution from the court.

Emerita is awaiting the ruling of the Tribunal Superior De Justicia De Andalucia on whether the various alleged irregularities by the Junta De Andalucia in adjudicating the Aznalcollar public tender occurred and whether the tender should have been awarded to Emerita given the existence of such alleged irregularities. Please see the company's press release dated May 2, 2022, for additional details regarding the administrative case. the Administrative Court's decision is expected in the near future.

Emerita has a strong balance sheet and will continue to develop its cornerstone Iberian belt west (IBW) project and its other projects in Andalusia, and remains committed to high standards of business ethics and wealth creation. The company is at an advanced stage in the process of acquiring an exploitation licence for the IBW project and this will remain the focus for the company's technical team. Emerita will maintain its corporate policy to be an industry leader for conducting mining activities responsibly, sustainably and transparently.

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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