Emerita Announces Appointment of Joseph Belan as Executive Chairman of the Board

- Accepts resignation of David Patterson from the Board and thanks Mr. Patterson for his dedicated service to Emerita over the past several months

Emerita Resources Corp. (TSXV: EMO) (OTCQX: EMOTF) (FSE: LLJA) (the "Company" or "Emerita") announces that Joseph Belan has been appointed Executive Chairman of the Board of Directors of the Company, effective September 9, 2026. Mr. Belan succeeds David Patterson, who will step down as Chair of the Board as well as a director effective the same date.

Mr. Belan was appointed to the Board on June 8, 2026 and, since that time, has been actively involved in the affairs of the Company and has worked closely with other directors and management in reviewing Emerita's projects, internal processes, organizational capabilities and various legal proceedings.

In his new role as Executive Chairman, Mr. Belan will take a more active role in the leadership of the Company and will work with the Board and management in designing the strategic priorities for the Company.

"Since joining the Board in June, I have had the opportunity to communicate directly to shareholders and consider their perspectives on Emerita and its future," said Mr. Belan. "This is an important time for the Company, and I believe it is an opportunity to look forward and develop a strategic plan which delivers shareholder value. I am taking on the role of Executive Chairman with a focus on providing leadership and direction to assist the Company in realizing the full potential of its assets. I would also like to personally thank David Patterson for his leadership, dedicated service and extraordinary time commitment to Emerita during a challenging period in the Company's history."

The Board has not filled the vacancy created by Mr. Patterson's resignation at this time. An advisory committee of the Board consisting of Joseph Belan, Agne Ahlenius and Joaquin Merino is continuing an internal organizational and governance review and considering the remaining resignations received following the annual general and special meeting of shareholders held on August 25, 2026, and will provide shareholders with an update in due course.

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.

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.

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this release includes statements regarding the Company's future direction, leadership and continued evolution, including statements concerning the role of the Executive Chairman and the Company's engagement with shareholders. 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.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313742