Emerita Continues to Expand the El Cura Deposit, Intersecting Mineralization in 80% of Drill Holes, Including 6.9 Meters Grading 1.2 g/t Gold, 0.4% Copper

Emerita Resources Corp. (TSX-V: EMO; OTCQB: EMOTF; FSE: LLJA) (the "Company" or "Emerita") continues to intersect copper-gold mineralization with associated zinc-lead-silver at its ongoing drilling campaign at its El Cura deposit. El Cura is part of Emerita's wholly owned Iberian Belt West project ("IBW" or the "Project"; Figure 1) which includes three identified Volcanogenic Massive Sulfide (VMS) deposits: La Romanera, El Cura and La Infanta. Results contained in this news release are from El Cura deposit.

Recent results from the ongoing drilling campaign at El Cura include:

• Drillhole EC051 encountered 6.9m grading 0.4% copper, 0.5% lead, 0.2% zinc, 1.23 g/t gold and 28.06 g/t silver, including a 3.9m interval grading 0.5% copper, 0.8% lead, 0.3% zinc, 1.75 g/t gold and 41.35 g/t silver;
• Drillhole EC053 encountered 3.1m grading 0.9% copper, 1.3% lead, 1.1% zinc, 1.33 g/t gold and 53.46 g/t silver;
• Drillhole EC056 encountered a 3.0m grading 0.6% copper, 1.7% lead, 3.0% zinc, 1.79 g/t gold and 69.19 g/t silver.
  

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

View Figure 1 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/6f4c63bc-6914-4f8a-b325-ef83957a702b

Table 1 summarizes the results which demonstrate copper-gold rich mineralization continues to occur within wider intervals of polymetallic base metal mineralization at El Cura:

Table 1: Recent drilling results received for the El Cura deposit.

Discussion

Of the reported holes, EC051, -053, and -056 are deeper holes, that tested the central area of the deposit at depth, below previous drilling. These drillholes intersected mineralization at depths0f 383m below surface (EC051); 363m below surface (EC053); and 366m below surface (EC056). EC052 encountered a fault zone at the expected target zone, leading to poor core recovery in that section of the drill hole.

The current drilling program is designed to expand the El Cura resource, concentrating on deeper areas and targeting down plunge to the west, following the interpreted extension of the deposit. There are currently 3 drill rigs testing El Cura. Cross sections are included in Figure 4, and photos of selected examples of copper-gold rich mineralization are shown in Figure 5. A fourth drill is being reassigned to test targets closer to La Infanta deposit to the east, including some condemnation drilling of targets in areas where infrastructure for project development could be constructed.

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

View Figure 2 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/e05ba166-7305-4c26-a26e-1725e1ba189a

Figure 3. Vertical longitudinal section of El Cura deposit, oriented east-west, looking north. Holes EC051, EC052, EC053, EC055 and EC056. The deposit outline is indicated in green.

View Figure 3 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/835332c2-0259-4b3c-9c1f-5c1423d34193

Figure 4. Geological cross sections. A: Section 649700E showing hole EC053. B: Section 649750E showing hole EC056.

View Figure 4 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/40ae0ea3-0651-48e2-be77-8bcd9ab92de8

Figure 4 continued. Geological cross sections. C: Section 649750E showing hole EC056. D: Section 649850E showing hole EC051.

View Figure 4 continued here: https://www.globenewswire.com/NewsRoom/AttachmentNg/ab23832c-1b62-467c-86a9-f5dcf2623c54

Figure 5. Photos of El Cura drillcore as described in this release: A: EC051; Fine grained massive sulphide.Visible chalcopyrite along fracture planes and irregular veinlet.

View Figure 5 here: https://www.globenewswire.com/NewsRoom/AttachmentNg/93f40491-5774-4ef7-a117-cce13d0f1de3

Figure 5 continued. Photos of El Cura drillcore described in this release: B: EC053; Massive sulphide lens with galena and sphalerite, crosscut by a late quartz-carbonate vein.; C: EC056; Polymetallic massive sulfide with galena and sphalerite mm to cm vein-sets within a massive pyrite matrix.

View Figure 5 continued here: https://www.globenewswire.com/NewsRoom/AttachmentNg/93691095-f406-4468-9f42-d1faf34911d8

Joaquin Merino, P.Geo., President of Emerita, states, "Our drill program, is focused on expanding El Cura deposit. The program is validating our geological model for the mineralization in the deposit. Every successful hole is potentially extending the resource or improving the quality of this deposit, which enhances the greater IBW Project's overall mineral resources. We are currently mobilizing a drill rig that is designed to drill at lower angles to delineate the upper portions of the deposit where it remains open for potential expansion."

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).

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 cases. Once the data is approved by the QA/QC protocol assays are entered directly into the database.

Qualified Person

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.

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 the prospectivity of the IBW project and El Cura, the mineralization and the IBW project, the economic viability of the IBW project, the metallurgy of the IBW project, the Company's exploration program, 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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