Mr. David Gower reports

EMERITA RESOURCES COMPLETES NEBARI FACILITY UPSIZING

Emerita Resources Corp.'s amended credit agreement with Nebari Natural Resources Credit Fund II LP, pursuant to which a fourth tranche of $35-million (U.S.) will be made available as a standby loan to the company (the upsized loan), has been approved by the TSX Venture Exchange. Please see the company's press release dated Sept. 4, 2025, for additional details regarding the upsized loan. Nebari has agreed to waive its entitlement to receive Emerita common share purchase warrants in connection with the upsized loan.

The upsized loan provides flexible financial support to allow Emerita to continue to advance its wholly owned Iberian Belt West (IBW) project, and a drawdown under each of tranches 2, 3 and 4 under the loan agreement is at the sole discretion of the company subject to satisfying the applicable conditions precedent for the applicable tranche in the loan agreement.

Steven Bowles, Nebari's managing director, stated: "Nebari continues to believe in the potential of the IBW project and is pleased to provide additional financing capacity of now up to $50-million (U.S.) to the Emerita team. IBW is well positioned to advance toward the execution stage of the project with its growing resources, modest expected capital cost and established local infrastructure, all in a supportive mining jurisdiction."

David Gower, PGeo, chief executive officer of Emerita, commented: "We are excited to be advancing the IBW project through permitting and prefeasibility and driving diligently towards a production decision. Technical results at the project, including from ongoing drilling at El Cura deposit and metallurgical advancements, along with strong metal prices for all of the commodities (zinc, copper, lead, gold and silver) expected to be produced are further enhancing the project's potential. We are very grateful to have a partnership with Nebari in supporting the development plans for a modern and sustainably developed mine at IBW."

The company intends to use the proceeds of the upsized loan for working capital requirements related to exploration and geological drilling, advancement of engineering studies, environmental permitting at the IBW project, deposits on long-lead-time items, and general and administrative costs 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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