Emerita Resources Launches Up to $300,000 Private Placement Financing of Units

TORONTO, ONTARIO--(Marketwired - March 30, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Emerita Resources Corp. (TSX VENTURE:EMO)(the "Company" or "Emerita") intends to complete a non-brokered private placement financing of up to 6,000,000 units of Emerita (the "Common Shares") at a price of $0.05 per Common Share for gross proceeds of up to $300,000 (the "Offering"). Each unit shall be comprised of one common share of Emerita and one common share purchase warrant, entitling the holder to acquire an Emerita common share at $0.10 for a period of 24 months from issuance. 

The closing date of the Offering is expected to occur on or about April 17, 2015. The common shares and shares underlying the warrants will be subject to a hold period of four months and one day. Completion of the Offering is subject to a number of conditions, including TSX Venture Exchange approval.

The Company intends to use the proceeds of the Offering for the development of its mineral properties and mineral interests in Spain and for general corporate purposes. 

The Company has appealed the decision with respect to the award of the Aznalcollar public tender. The appeal is currently under review by a judge of the Seville court. The Company has presented documentation to the court highlighting its concerns relating to certain irregularities within the tender process. The Company believes the acceptance of the appeal by the Seville court and the expeditious manner in which the court is proceeding with its investigation is indicative of the merits of the appeal.

In addition, the Company announces that Jennifer Wagner has been appointed as Corporate Secretary of the Company, replacing Josh Van Deurzen. Jennifer Wagner is a corporate securities lawyer who acts as Corporate Secretary and legal consultant for several publicly traded TSX and TSXV companies. The Company wishes Mr. Van Deurzen all the best on his future endeavors and thanks him for his continued support. 

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.

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 use of proceeds from the Offering, the current appeal process with respect to the Aznalcollar tender process and potential outcome of such appeal. 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

Contact

Emerita Resources Corp.
Helia Bento
+1 416 309 4293 (Toronto)

Emerita Resources Corp.
Joaquin Merino
+34 (628) 1754 66 (Spain)
info@emeritagold.com