News Releases

TORONTO, April 17, 2025 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) (the “ Company ” or “ Emerita ”) has received a written resolution from the Tribunal Superior De Justicia De Andalucia (the “ Court ”) with respect to one of Emerita’s complaints regarding the administration of the Aznalcóllar public tender (the “ Tender ”).

Emerita had filed a formal complaint in 2017 (the “ Complaint ”) with the Court against the Junta de Andalucia (the “ Junta ”), the Andalucian government panel that awarded the Tender, requesting that the Court rule that (i) the Junta had committed a “via de hecho” which is an administrative action that completely disregards the legally established procedure or that clearly lacks any possible legal basis; (ii) the acceptance of the mineral rights to the Aznalcóllar project by Minera Los Frailes S.L. (“ MLF ”), an entity that did not participate in the Tender, is a via de hecho, and (iii) any actions by MLF related to the Aznalcóllar project are a via de hecho. As a result of these claims, Emerita requested, inter alia, that the Court rule that MLF’s acceptance of the rights to the Aznalcóllar project be null and void.

The Court ruled against Emerita’s Complaint finding that a via de hecho had not occurred on a technical basis. Emerita may appeal this decision by the Court in the future but for now is focused on the ongoing Aznalcóllar criminal trial and the associated Administrative Case (please see below).

The Junta, in its defense against the Complaint, acknowledged that MLF accepted the rights to the Aznalcóllar project without ever participating in the Tender. This is one of the many irregularities in the Tender and a relevant and important point that is being considered in the ongoing Aznalcóllar criminal trial.

This Complaint is distinct from Emerita’s other and more significant administrative case regarding the various alleged irregularities by the Junta in adjudicating the Tender which the Company initiated in 2015 (the “ Administrative Case ”). The Court has previously determined that the facts in the criminal case and the Administrative Case are substantially similar and has decided to suspend issuing its resolution on the Administrative Case pending the outcome of the criminal trial. This is expected to make available for the Court all of the evidence and testimony from the Aznalcóllar criminal trial (please see the Company’s press release dated May 2, 2022 for additional details regarding the Administrative Case).

Emerita looks forward to the completion of the Aznalcóllar criminal trial and Administrative Case. A resolution favorable to Emerita will result in a significant increase to Emerita’s presence in the Iberian Pyrite Belt in terms of both resources and strategic land position.

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.

For further information, contact:

Ian Parkinson

+1 647 910-2500 (Toronto)

info@emeritaresources.com

www.emeritaresources.com

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the prospectivity Aznalcóllar, the Tender, the Court’s decisions and impacts thereof, the results, timing and impact of the Aznalcóllar litigation and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Emerita, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Emerita has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Emerita does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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