Emerita Resources Corp. (TSX-V: EMO) (OTCQB: EMOTF) (FSE: LLJA) announces ongoing diamond drilling results that continue to intersect high grades and significantly expand the El Cura deposit. The latest drill hole (EC080) intercepted excellent grades and extends the mineralization at least 90m further to the west. The Company has approved an additional 12,000 meters of drilling to continue the expansion drilling at El Cura. El Cura is part of Emerita’s wholly-owned Iberian Belt West project (Figure 1) which includes three identified Volcanogenic Massive Sulfide  deposits: La Romanera, El Cura and La Infanta. Results contained in this news release are from El Cura deposit.

A complete list of drill holes completed since the last update (News Release August 20, 2025) are included in Table 1 below. Recent highlights from the ongoing drilling campaign at El Cura include:

• Drill hole EC080: 4.1m grading 3.9% copper, 3.6% lead, 8.5% zinc, 4.08 g/t gold and 96.39 g/t silver, including a 1.4m interval grading 5.7% copper, 4.1% lead, 9.7% zinc, 3.89 g/t gold and 102.86 g/t silver.
• Drill hole EC069: 3.8m grading 1.8% copper, 2.3% lead, 6.2% zinc, 3.60 g/t gold and 70.24 g/t silver, including a 1.0m interval grading 3.3% copper, 3.5% lead, 10.1% zinc, 5.89 g/t gold and 103.50 g/t silver.
• Drill hole EC070: 2.5m grading 1.2% copper, 0.4% lead, 1.2% zinc, 4.37 g/t gold and 33.40 g/t silver, including a 1.0m interval grading 1.8% copper, 0.3% lead, 1.3% zinc, 10.05 g/t gold and 40.00 g/t silver.
• Drill hole EC077: 2.9m grading 1.0% copper, 0.2% lead, 0.1% zinc, 1.77 g/t gold and 21.24 g/t silver, including a 1.2m interval grading 2.0% copper, 0.3% lead, 0.2% zinc, 3.83 g/t gold and 23.0 g/t silver.
• Drill hole EC075: 3.5m grading 0.7% copper, 0.4% lead, 0.7% zinc, 0.67 g/t gold and 25.09 g/t silver, including a 1.1m interval grading 1.9% copper, 0.4% lead, 0.3% zinc, 1.21 g/t gold and 30.00 g/t silver.

 Figure 1. IBW tenement and locations of La Romanera, El Cura and La Infanta deposits.

Table 1 details drill results contained in this news release. Drill hole traces are shown in Figure 2.

Table 1: Recent drilling results received for the El Cura deposit.

 True width of the intercepts is expected to range between 85% to 95% of core width for these drill holes.

Figure 2. Plan view map showing drill hole traces of the El Cura drilling. Hole traces in this news release are colored red.

 Figure 3. Vertical longitudinal section of El Cura deposit, oriented east-west, looking north. Holes EC069, EC070, EC071, EC073, EC075, EC077 and EC080. The deposit as presently delineated is indicated in green.

Discussion

Immediately following the updated 2025 MRE (please see the Company’s press release dated March 17, 2025 for further details), drills were engaged with the objective of converting Inferred mineralization to the Indicated category and on expanding the deposit extents at depth and to the west.

Drilling is presently from three platforms along approximately 650m of strike length. Holes reported here targeted the upper, lower and western extents of the deposit. All holes returned mineralized intercepts with the exception of EC073 that encountered faulting in the expected target area not seen in nearby hole EC004 (3.0m 0.6% copper, 1.2% lead, 2.0% zinc, 1.12 g/t gold, 38.13 g/t silver). EC073 is one of a series of holes designed to test the upper 150m of the central portion of the deposit with a specialized drill rig capable of drilling shallow-angle holes.

High gold and copper grades continue to characterize El Cura deposit. Several holes at El Cura have returned high-grade intercepts, with gold grades exceeding 4.0 g/t and copper grades exceeding 5.0%. Drill hole EC080 intercepted 4.1m thick massive sulfide grading 3.9% copper, 3.6% lead, 8.5% zinc, 4.08 g/t gold and 96.39 g/t silver, extending the western boundary of El Cura by 90m. This notable intercept extended the deposit still further, proving that mineralization remains open to the west and at depth, with strong continuity of high-grade zones consistent with the overall geometry of the system.

Historic workings at El Cura were limited to several shallow shafts of less than 24m during the Roman era, and shaft and drift exploration in the mid-20th century. The only recorded production from the deposit dates to 1882, which amounted to 300 tonnes¹. These modest workings are approximately 600 meters to the east of the deposit the area presently being drilled by Emerita. In Emerita’s mapping and reconnaissance of the property only small traces of oxidized sulphide were observed in the vicinity of the historic workings, there is no surface expression of the mineralization in the area being drilled. As such, the Company interprets El Cura as an intact deposit, undeveloped and uneroded, with its full potential yet to be realized. Mapping has identified areas of intense boxwork and gossan along with strong chloritization at surface to the west of the present drilling. Chloritization and gossanous boxwork alteration are common identification criteria for VMS deposits globally and suggest excellent potential in that direction.

A qualified person, as defined in National Instrument 43-101, has not done sufficient work on behalf of Emerita to classify the historical results reported above as current mineral resources or mineral reserves and Emerita is not treating the historical estimate as current mineral resources or mineral reserves. The historical results should not be relied upon.

Reviewing recent results of the El Cura drill program, Emerita President, Joaquin Merino, commented, “The exceptional results of recent drilling in western El Cura, including copper grades of 5.7% and gold grades to 10 g/t, demonstrate the existence of zones of significant enrichment and the persistence of the deposit to the west and at depth. Holes EC069, EC075, EC077 and EC080 of this news release are west of the Inferred resource boundary reported in March 2025 and are expected to contribute substantially to the growing resource at El Cura and the IBW Project overall.”

Given the consistent high-grade results and continued expansion of the deposit, Emerita has elected to extend the El Cura drill program by an additional 12,000 meters to continue testing the western and deeper portions of the system.

Figure 4: Map view of El Cura area geology, transparent to show planned and completed Emerita drilling below. 2025 MRE Inferred boundary indicated by black line. EC080 is 90m west of the Inferred boundary and recent prospect sampling with strong alteration and boxwork after sulfide from the continuation of the host package has been mapped 375m to west of Inferred boundary suggesting excellent prospects for expanding the deposit further along strike to the west.

 Figure 5. Geological cross sections. A: Section 649500E showing holes EC075, EC077 and EC080. B: Section 649550E showing holes EC069, EC075 and EC077. C: Section 649850E showing hole EC070. D: Section 650100E showing hole EC071.

 Figure 6. Photos of El Cura drillcore as described in this release: A: EC069 fine polymetallic massive sulphide with galena/sphalerite rich veinlets and chalcopyrite in crystals along the ore interval. B: EC070 Chalcopyrite-rich massive sulphide. C: EC071 pyritic massive vein with small chalcopyrite crystals within a chloritically altered siliceous dacitic tuff.

 Figure 6 continued. Photos of El Cura drillcore as described in this release: D: EC075 pyrite-rich massive sulphide with well-developed chalcopyrite veining. E: EC077 pyritic-rich massive sulphide with associated chalcopyrite veins F: EC080 Polymetallic massive sulphide with chalcopyrite and galena-rich veinlets.

Quality Assurance/Quality Control

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 (15Km) 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 1m or less, and respecting lithological contacts, with most of the samples 1.0m 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 where sample preparation is done. 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 to the ME-ICPore (19 elements) package, together with the Au-AA23 fire assay (Gold). ALS is independent of Emerita.

10% of the analyzed samples correspond to control samples (fine blanks, coarse blanks, high, medium and low-grade standards). In addition, 10% 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 re-assayed in such case. Once the data is approved by the QA/QC protocol assays are entered digitally directly into the database.

Qualified Person

Scientific and technical information in this news release has been reviewed and approved by Joaquin Merino, P.Geo., who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Merino is President of the Company and is not considered independent of Emerita.

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