News Releases

TORONTO, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Emerita Resources Corp. (TSX-V: EMO) (the “Company” or “Emerita”) is pleased to report that the nominees listed in the management proxy circular dated July 24, 2020 for the 2020 annual and special meeting of shareholders of Emerita held on August 24, 2020 (the “Meeting”) were elected as directors of the Company.  The appointment of each of the nominees to the Company’s board was approved by more than 99% of the votes cast at the Meeting.  Shareholders at the Meeting also approved the appointment of the Company’s auditors and the Company’s stock option plan. Emerita management would like to thank shareholders for their participation and continuing support.

Lawrence Guy, Chairman of Emerita remarked: “We are very grateful for the support of our shareholders as we proceed with the exploration and development programs for the Paymogo/Romanera project.  The Company has recently completed two successful financings and we are in a position to commence a drill program as soon as permits are in place.”

David Gower, P.Geo., CEO of Emerita stated: “We are very excited to commence working on the Paymogo / Romanera project.  Work is ongoing to develop the digital data base from the extensive hard copy data that will be used to produce modern 3D models and assist in positioning diamond drill holes for the upcoming program. The two deposits on the project, Infanta and Romanera, show excellent grades and remain open for further expansion based on the analysis to date.  Technical updates will be issued as the program progresses.  The Company is completing protocols with respect to safe work practices relating to managing the present pandemic situation as an important part of its project implementation.”

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:

Helia Bento

+1 (416) 566-8179 (Toronto)

Joaquin Merino

+34 (628) 1754 66 (Spain)

info@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 ability to commence exploration work at the Paymogo project, the prospectivity of the Paymogo project 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.