Emerita Appoints Jorge A. Blanco Avilés as Director of Metallurgy

TORONTO, March 19, 2024 - Emerita Resources Corp. (TSX - V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") is pleased to announce Jorge A. Blanco Avilés, a highly experienced metallurgist, has joined its Spanish senior management team as Director of Metallurgy. Mr. Blanco has had a distinguished career as a Metallurgist in both mine site operations and smelting operations, spanning more than 25 years.

Since 2010, Mr. Blanco was Metallurgy and Research and Development Manager for First Quantum's Cobre Las Cruces operation in Andalusia Spain. He successfully spearheaded initiatives to increase copper recovery from 85% to 95% and developed innovative metallurgical processes to recover base metals from Iberian Pyrite Belt polymetallic ores. He also developed and ran an in-house analytical laboratory at Las Cruces. Mr. Blanco participated in European Projects including BIOMORE, INTMET and POLIMET, underscoring his exceptional blend of technical acumen and strategic leadership in metallurgy and mining projects.

Prior to that, from 1999, he was employed by Atlantic Copper and Cunext Copper Industries at the smelting operations, driving a 20% increase in productivity and pioneering the copper recycling program there.

Jorge Blanco holds a Masters of Chemical Sciences degree from Granada University, further complemented by specialized training in Production and Logistics, Six Sigma and Senior Management.

David Gower, P.Geo., CEO of Emerita notes, "We are very pleased to have Jorge Blanco join the Emerita team. He fills a critical skills gap required by the Company as we develop and design the metallurgical facilities required to process mineralization from our projects. Jorge has a strong understanding of where to focus the metallurgical efforts to maximize financial returns. His smelting background also provides important experience for negotiating offtake contracts for the products to be produced from future operations. With respect to the ongoing metallurgical testing, Jorge is already identifying potential for future optimization."

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:

Ian Parkinson
+1 647 910-2500 (Toronto)
info@emeritaresources.com
www.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 managerial appointments, the prospectivity of the IBW project, the mineralization and the IBW project, the economic viability of the IBW project, metallurgical studies and results thereof and the Company's future exploration plans 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.

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