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Emerita Resources Corp. (TSX V: EMO; OTCQB: EMOTF; FSE: LLJA) (the " Company " or " Emerita ") announces that the Third Section of the Provincial Court of Seville (the " Court ") has determined that it will not impose any criminal convictions on any of the accused (the " Accused ") in the Aznalcóllar criminal trial (the " Trial ").
Emerita is surprised and disappointed that the Court did not deem that criminal convictions were warranted in this case despite clear irregularities in the Aznalcóllar public tender process established by previous judicial rulings. Emerita respects the Court's decision and will review the Court's written resolution in detail with its Spanish legal counsel to determine whether a further response is appropriate. The Company will provide further comments with respect to the ruling once legal counsel has had the opportunity to fully analyze the 215 page resolution from the Court.
Emerita is awaiting the ruling of the Tribunal Superior De Justicia De Andalucia (the " Administrative Court ") on whether the various alleged irregularities by the Junta De Andalucia in adjudicating the Aznalcóllar public tender (the " Tender ") occurred and whether the Tender should have been awarded to Emerita given the existence of such alleged irregularities. Please see the Company's press release dated May 2, 2022 for additional details regarding the Administrative case. The Administrative Court's decision is expected in the near future.
Emerita has a strong balance sheet and will continue to develop its cornerstone Iberian Belt West (IBW) project and its other projects in Andalusia and remains committed to high standards of business ethics and wealth creation. The Company is at an advanced stage in the process of acquiring an Exploitation License for the IBW project and this will remain the focus for our technical team. Emerita will maintain its corporate policy to be an industry leader for conducting mining activities responsibly, sustainably, and transparently.
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 Aznalcóllar, the Company's legal strategies, the awarding of the public tender, the resolution of the Court and implications thereof, timing and impact of the Aznalcóllar litigation and administrative processes, the Company's ability to obtain the Exploitation Licence for IBW and the timing thereof, the prospectivity of the Company's other projects 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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