Mr. Ian Parkinson reports

EMERITA INTERSECTS 9.3 METERS GRADING 1.1% COPPER AND 1.2 G/T GOLD WITH ADDITIONAL BASE METAL SULPHIDES AT EL CURA DEPOSIT

Emerita Resources Corp. continues to intersect copper-gold mineralization with associated zinc-lead-silver at its continuing drilling campaign at El Cura, building on previously encountered mineralization discovered on the project. El Cura is part of Emerita's wholly owned Iberian Belt West (IBW) 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 area only and include:

• Drill hole EC037 intersected 9.3 metres (m) grading 1.1 per cent copper, 0.7 per cent lead, 2.1 per cent zinc, 1.2 grams per tonne (g/t) gold and 34.8 g/t silver, including 2.5 m grading 1.7 per cent copper, 0.9 per cent lead, 3.8 per cent zinc, 2.0 g/t gold and 47.3 g/t silver.
• Drill hole EC036 intersected 5.2 m grading 2.1 per cent copper, 1.3 per cent lead, 2.8 per cent zinc, 1.6 g/t gold and 65.5 g/t silver.
• Drill hole EC034 intersected 1.1 m grading 2.2 per cent copper, 2.0 per cent lead, 6.7 per cent zinc, 3.5 g/t gold and 148.2 g/t silver.
• Drill hole EC024 intersected 2.0 m grading 0.9 per cent copper, 0.2 per cent lead, 0.3 per cent zinc, 0.9 g/t gold and 17.63 g/t silver.
• See the attached table for a full list of drill results. The database for El Cura will include these drill results and several additional holes with pending assays to be included in the forthcoming updated National Instrument 43-101 mineral resource estimate (MRE) for the project. Drilling will continue to follow up the higher-grade thicker portion of the deposit once the database is locked for the MRE.

The attached table summarizes the recently received drill results from El Cura and demonstrates that copper-gold rich mineralization continues to occur within wider intervals of polymetallic base metal mineralization at El Cura.

Discussion

These results extend El Cura deposit's mineralization farther west as demonstrated by holes EC024, EC026, EC029 and EC029B. EC029 represents a significant width of polymetallic mineralization, as does EC037, which was drilled to improve the confidence within the central portion of the deposit and achieve spacing for an indicated mineral resource estimate category.

Numerous holes have been drilled to demonstrate continuity within the deposit, which is now confirmed by holes EC025B, EC031, EC034, EC036 and EC037.

El Cura continues to show impressive gold and copper grades, with EC037 having 9.3 m at 1.2 g/t gold carrying 1.1 per cent copper, EC036 having 5.2 m at 1.6 g/t gold carrying 2.1 per cent copper, EC024 with 2.0 m at 0.9 g/t gold and 0.9 per cent copper from 311.35 m, and EC034 intercepting 1.1 m at 3.5 g/t gold and 1.1 per cent copper from 249.20 m (see the attached table).

Joaquin Merino, PGeo, president of Emerita, states: "The results of the drilling at El Cura deposit should make a significant contribution to the updated MRE we are expecting to complete around the end of Q1 2025. Samples of El Cura mineralization have already been sent for metallurgical testing and this data will be available for the completion of the MRE as well."

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 for sample preparation. 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 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 cases. Once the data are approved by the QA/QC protocol, assays are imported into the database.

Qualified person

Scientific and technical information in this news release has been reviewed and approved by Joaquin Merino, PGeo, president of the company and a qualified person as defined by NI 43-101.

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 its technical team are based in Sevilla, Spain, with an administrative office in Toronto, Canada.

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