CORRECTION -- Emerita Resources Corp.

Executive Summary

• Emerita Resources Corp. reports significant drilling results from the El Cura deposit within its Iberian Belt West (IBW) project in Spain, highlighting a major 12.1m intercept that expands the eastern portion of the deposit.
• The results include high-grade intersections of copper, gold, and silver, with the longest intercept being 12.1m at 1.6% Cu, 0.85 g/t Au, and 32.11 g/t Ag in hole EC092.
• Drilling continues to expand the mineral resource boundary, particularly in the western extension, which remains open and is a priority for future exploration ahead of the upcoming Prefeasibility Study (PFS).

Key Details

• Hole EC092: 12.1m grading 1.6% copper, 0.1% lead, 0.1% zinc, 0.85 g/t gold, and 32.11 g/t silver. This intercept significantly expands the eastern portion of the El Cura deposit, located 75m from hole EC003B and 50m from EC030.
• Hole EC086: 1.8m grading 2.3% copper, 1.6% lead, 3.5% zinc, 1.78 g/t gold, and 61.39 g/t silver.
• Hole EC085: 1.4m grading 5.8% copper, 0.1% lead, 0.1% zinc, 4.89 g/t gold, and 51.0 g/t silver.
• Hole EC087: 2.8m grading 0.7% copper, 0.1% lead, 0.1% zinc, 1.31 g/t gold, and 13.64 g/t silver.
• Hole EC081: 5.4m grading 0.3% copper, 0.2% lead, 0.4% zinc, 0.33 g/t gold, and 7.69 g/t silver.
• Hole EC083: 1.3m grading 0.7% copper, 2.0% lead, 5.8% zinc, 0.52 g/t gold, and 74.08 g/t silver.
• Hole EC084: 4.2m grading 0.2% copper, 0.1% lead, 0.3% zinc, 0.32 g/t gold, and 7.83 g/t silver.
• Hole EC088: 0.9m grading 1.0% copper, 0.2% lead, 0.6% zinc, 0.05 g/t gold, and 8.0 g/t silver.
• Deposit Status: The El Cura deposit has a strike extent of approximately 650 meters and extends approximately 320m down-dip. It remains open down plunge to the west and up plunge to the east.
• Historical Context: To date, 86 holes have been drilled at El Cura with 74 intercepting mineralized intervals, resulting in an 86% hit rate.
• Technical Assessment: The deposit is described as a coherent, steeply dipping gold-copper-rich VMS deposit suited for underground bulk mining methods such as long-hole stoping. Results will be included in the forthcoming Prefeasibility Study.
• QA/QC: Drilling is HQ size; samples are analyzed at ALS Laboratory (Seville, Ireland, and Romania) with 10% control samples and 10% pulp re-analyses at AGQ Lab Sevilla.

Notable Quotes

• Joaquin Merino, P.Geo., President: “The El Cura deposit continues to expand with very good grades of base metals and gold. The deposit has only been drilled to moderate depths which allows us to cost-effectively continue to drill the deposit in sufficient detail to be classified primarily as measured and indicated resources, which provides conversion to reserve categories in the forthcoming prefeasibility study.”