Emerita Resources Corp. (TSX-V: EMO) (OTCQX: EMOTF) (FSE: LLJA) reports results from ongoing drilling of El Cura deposit. El Cura is part of Emerita’s wholly owned Iberian Belt West project (Figure 1) which hosts three Volcanogenic Massive Sulfide (VMS) deposits: La Romanera, El Cura and La Infanta that are currently undergoing Prefeasibility Studies (the “PFS”) (see the Company’s press release dated December 3, 2025). Recent results from the ongoing drilling at El Cura are listed below and complete data is included in Table 1.

• Drill hole EC094: 9.2m grading 1.4% copper, 0.4% lead, 1.3% zinc, 0.41 g/t gold and 21.48 g/t silver
• Drill hole EC089: 2.8m grading 0.6% copper, 0.5% lead, 1.6% zinc, 1.71 g/t gold and 30.95 g/t silver
• Drill hole EC093: 5.6m grading 1.2% copper, 0.6% lead, 1.3% zinc, 0.82 g/t gold and 28.00 g/t silver
• Drill hole EC090: 3.0m grading 0.3% copper, 0.7% lead, 2.2% zinc, 0.36 g/t gold and 24.00 g/t silver

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

Table 1 shows drill hole location and assay data; drill hole traces are shown in map view in Figure 2. Long-section and cross-section views are displayed in Figures 3 and 4. Photos of mineralized core intercepts are shown in Figure 5.

Table 1: Recent drilling results received for El Cura deposit. True width ranged from 84% to 98% of intercept width, except for EC089 (true width 64% of intercept width).

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

 Figure 3. Vertical longitudinal section of El Cura deposit, oriented east-west, looking north. Holes EC089, EC090, EC093 and EC094. Deposit as presently defined is indicated in green.

Discussion

Drilling reported here spanned approximately 420m along strike from hole EC090 to hole EC094, and approximately 460m down-dip from surface to hole EC089. Hole EC089 (2.8m grading 0.6% copper, 0.5% lead, 1.6% zinc, 1.71 g/t gold, 30.95 g/t silver) joins holes EC087 (2.8m grading 0.7% copper, 0.1% lead, 0.1% zinc, 1.31 g/t gold, 13.64 g/t silver) and EC021 (1.7m grading 0.9% copper, 2.1% lead, 4.0% zinc, 68.35 g/t silver and 2.01 g/t gold) in defining the deepest level of El Cura deposit to date.

Nearer to surface, hole EC094 (9.2m grading 1.4% copper, 0.4% lead, 1.3% zinc, 0.41 g/t gold, 21.48 g/t silver) followed up on the thick intercept of EC092 (12.1m grading 1.6% copper, 0.1% lead, 0.1% zinc, 0.85 g/t gold, 32.11 g/t silver) with a test approximately 50 m to the east. In each hole, the copper grade was consistent but the ratio of base metal to precious metal varied, with greater gold and silver values in EC092 and better zinc grade in hole EC094.

Toward the center of the deposit as presently defined, hole EC093 returned 5.6m grading 1.2% copper, 0.6% lead, 1.3% zinc, 0.82% gold and 28.00 g/t silver. This is the thickest intercept of the five holes in this vicinity, just ahead of hole EC036 (5.2m grading 2.1% copper, 1.3% lead, 2.8% zinc, 1.6 g/t gold, 65.47 g/t silver.

To the west, hole EC090 (3.0m grading 0.3% copper, 0.7% lead, 2.2% zinc, 0.36 gold, 24.00 g/t silver) completed the definition of the upper edge of the deposit in that area, the bulk of which plunges westward, below this intercept.

Assay results for 91 holes were prepared in mid-January for inclusion into and the NI 43-101 Mineral Resource Estimate (the “MRE”) that will be used in the Prefeasibility Study, which is currently underway. This represents a substantial increase in the drill hole database over that of the 2025 El Cura maiden MRE, which considered 39 holes.

Drilling continues at El Cura and also at La Infanta, with a push to convert Inferred resources to Measured and Indicated categories for inclusion in the PFS.

Figure 4. Interpretive geological cross sections. A: Section 649700E showing hole EC090. B: Section 649850E showing holes EC089 and EC093. C: Section 650100E showing hole EC094.

 Figure 5. Photoplates of El Cura drillcore as described in this release: A: EC089 pyritic massive sulphide with mm-scale chalcopyrite crystals. B: EC090 polymetallic semi-massive to massive sulphide with galena, sphalerite and chalcopyrite-rich bands and disseminations. C: EC093 semi-massive sulphide with cm-scale chalcopyrite-rich bands and veinlets.

 Figure 5 continued. D: EC094 pyritic massive sulphide with abundant chalcopyrite as veins and crystals associated with quartz veining.

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 (“NI 43-101”) and President of the Company. Mr. Merino is not considered independent of the Company.

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.