Emerita Resources Corp. (TSX – V: EMO) (OTC: EMOTF) announces assay results for three additional drill holes LR001, 003, 004 at the Romanera deposit at Emerita’s wholly-owned Iberia Belt West Project. Drill holes LR001, LR003 and LR004 reported below, are located along section 646500E in the center of the deposit, down dip from previously reported drill hole LR002 (released June 23,2022) (Figure 1, 2 and Table 1). The results show positive correlation with historical drilling with respect to intercept location and width, however with gold and silver grades higher than previously indicated. The drilling so far has confirmed two continuous parallel massive sulphide lenses for 400m down dip.   Assays for the three additional drill holes are reported as follows:

LR003:

• LR003 intercepted mineralization 50m below Hole LR002. The upper lens occurs from 126.1m with 13.4m grading 0.3% copper, 1.8% lead, 3.5% zinc, 1.68 g/t gold, 89.8 g/t silver (including 5.0m grading 0.3% Copper, 2.2% lead, 5.1% zinc, 2.64 g/t gold, 86.6 g/t silver). The lower lens was intersected 48.7m below the upper lens and encountered 39.9m grading 0.5% copper, 3.0% lead, 6.2% zinc, 2.13 g/t gold, 83.1 g/t silver (incl. 4.3m grading 0.3% copper, 1.2% lead, 1.2% zinc, 4.0 g/t gold, 126.9 g/t silver).

LR004:

• LR004 intercepted mineralization approximately 25m below Hole LR003. The upper lens occurs from 244m, intercepted 11.0m grading 0.4% copper, 1.6% lead, 4.5% zinc, 2.19 g/t gold, 42.0 g/t silver (incl. 2.6m grading 0.2% copper, 4.1% lead, 8.9% zinc, 4.32 g/t gold, 70.4 g/t silver). The lower lens which occurs from 280.5m included 24.3m grading 0.5% copper, 3.2% lead, 8.2% zinc, 2.77 g/t gold, 65.9 g/t silver (incl. 6.0m grading 0.6% copper, 3.6% lead, 11.5% zinc, 2.46 g/t gold, 59.3 g/t silver).

LR001:

• LR001 is the deepest hole completed to date at 530m. It intercepted 49.6m of continuous stockwork sulphide mineralization. The interval grades 0.3% copper, 0.4% lead, 0.3% zinc, 0.6 g/t gold and 41.8 g/t silver with higher grades at the upper and lower contacts of the zone. It is common to see grade variation within VMS deposits of the Iberian Pyrite belt.

According to David Gower, P.Geo, CEO of Emerita, “We continue to see strong results from the drilling at the Romanera deposit. All holes completed to date are on a single section and confirm the base metal contents of the historical drilling but with stronger precious metal values. As the drill results are received on adjacent sections, we expect to see the distribution of the higher-grade mineralization and the structural trends controlling grade to be defined.”

Joaquin Merino, P.Geo, President of Emerita notes, “We are excited by the results to date. Already there are three additional intercepts in the lab and five other drill holes in progress.”

The Company has six drills at the Romanera deposit and expects there should be a steady flow of results in the coming months.

Figure 1: Plan map showing the location of drill holes LR001, 3, 4 and holes in progress at Romanera.

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Figure 2: Cross section showing the location of drill hole LR001-4.

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Table 1: Detailed diamond drilling intercepts.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. Joaquin Merino, P.Geo, President of the Company and a Qualified Person as defined by NI 43-101 of the Canadian Securities Administrators.

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.