Emerita Awarded Public Tender for Key Zinc Project in the Riocin Mining Camp, Cantabria, Northern Spain

TORONTO, ONTARIO--(Marketwired - Oct. 26, 2017) - Emerita Resources Corp. (the "Company" or "Emerita") (TSX VENTURE:EMO) along with its Spanish joint venture partner Aldesa, has been awarded exploration concessions comprising 3,600 hectares in the Santillana Syncline (the "Plaza Norte Project"), through the public tender organized by the Dirección General de Industria, Comercio y Consumo -Consejería de Innovación, Industria, Turismo y Comercio- del Gobierno de Cantabria (the Government of Cantabria, in northern Spain). The Plaza Norte Project is located in the Reocin Basin which hosts the famous Reocin mine, formerly one of the premiere zinc producers in Europe, having produced approximately 62 million tonnes grading 11% zinc and 1.4% lead.

Key Points

• The Plaza Norte Project is immediately adjacent and hosts the extensions of the Reocin mine which produced approximately 62 million tonnes grading 11% zinc and 1.4% lead.
  
  
• Emerita has acquired the historical data base for the Plaza Norte Project which includes more than 300 drill holes (approximately 73,000 meters of drilling) with numerous high grade intercepts such as hole 532 - 18.96 meters grading 9.72% zinc, Hole SS21 - 8.20 meters grading 7.05 zinc .
  
  
• The rights to the Plaza Norte Project have been granted for an initial three year term with the option to renew.
  
  
• Emerita's joint venture partner, the Aldesa Group ("Aldesa"), is a major Spanish construction and infrastructure firm with international operations. Emerita will be the operator of the Plaza Norte Project.
  
  

Emerita participated in the tender process through a joint venture company, Cantábrica del Zinc. Emerita and Aldesa each own a 50% interest in Cantábrica del Zinc (the "JVCo"). The Aldesa Group of Companies (http://www.aldesa.es) is a specialized infrastructure construction group with over 40 years of experience in the construction industry in Spain and internationally. Emerita and Aldesa formed JVCo with its registered office in Santander for the purpose of participating in the exploration and development of the Plaza Norte Project. Under the terms of the joint venture agreement, Emerita and Aldesa will be equally represented on the board of directors of JVCo and Emerita will be the operator of Plaza Norte Project. The joint venture is focused on advancing a significant zinc project along with the government and community in Cantabria.