Emerita Resources Corp. · TSXV:EMO
Emerita Resources — Investor Presentation (July 2026)
26 slides from Emerita Resources's investor presentation, July 2026
Slide 1: Developing High Grade Polymetallic Deposits in Spain
Developing High Grade Polymetallic Deposits in Spain TSXV: EMO | OTCQB: EMOTF | FRA: LLJA July 2026 La Romanera Deposit – Iberian Belt West
Slide 2: Cautionary Notes
CAUTIONARY NOTES This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, the “Presentation”), has been prepared by Emerita Resources Corp. (“Emerita” or the “Company”) so
Slide 3: Rapidly developing and exploring the Iberian Pyrite Belt
EMERITA Rapidly developing and exploring the Iberian Pyrite Belt Iberian Pyrite Belt - Innovative Mining Premier Jurisdiction Technologies - Minimizing Environmental Impact Polymetallic Deposits with Fundación Emerita Scalable Expansion Compromiso Sostenible – Potential Building Stronger Communities
Slide 4: Iberian Pyrite Belt - Premier Jurisdiction
Iberian Pyrite Belt - Premier Jurisdiction Long established Essential infrastructure Junta Andalusia declares underground active mining culture (power, transport, water) mining a preferred economic activity TSX-V: EMO Frankfurt: LLJ TSXV: EMO | OTCQB: EMOTF | FRA: LLJA │4 OTC: EMOTF
Slide 5: Iberian Belt West
Iberian Belt West Development Project
Slide 6: Iberian Belt West (IBW): High-Grade Polymetallic Deposits
Iberian Belt West (IBW): 3 High-Grade Polymetallic Deposits IBW Project: 1,545 Ha Largest Tonnage Copper-Gold Rich Highest Grade Excellent Business Development Climate ✓ EU mandate for ✓ Declaration of Strategic ✓ Highly skilled and ✓ No royalties on ✓ La Infanta area is zoned for critical metals Im
Slide 7: IBW Proposed Mine Infrastructure: Expedited Permitting
IBW Proposed Mine Infrastructure: Expedited Permitting Process plant and surface facilities Proposed La Romanera mine Proposed El Cura Proposed La mine Infanta mine Fast-track Schedule Accelerated Taskforce Mining License Assigned by the Government of 30-year term renewable up to 90 Expedited permit
Slide 8: IBW Deposits: Occur at/or Near Surface
IBW Deposits: Occur at/or Near Surface • Deposits occur at surface to moderate depths • Deposits remain open for expansion • More than 75% of the MRE is in Indicated category (drill hole spacing: max. 50 meters) Lower Lens Upper Lens 169 • Ongoing drilling at El Cura and La Infanta to expand and upg
Slide 9: MRE 2025: Significant Resource Growth
MRE 2025: Significant Resource Growth AVERAGE GRADE METAL EQUIVALENT CONTAINED METAL Deposit Class Tonnes Zn Pb Cu Ag Au ZnEq CuEq Zn Pb Cu Ag Au Mt % % % g/t g/t % % kt kt kt koz koz La Indicated 17.34 2.64 1.25 0.43 65.00 1.34 7.89 2.86 458 217 75 36216 747 Romanera Inferred 4.13 3.08 1.27 0.61 49
Slide 10: Metallurgical Advancements
Metallurgical Advancements Innovative Post- Flotation Process Two-stage metallurgical process (PFP) achieving combined (flotation and post- flotation) recoveries Metallurgy Testing: AlbionTM CLEVRTM Future Growth and Continuous Optimization Recoveries Recoveries PFP incorporates ultra-fine PFP incor
Slide 11: Iberian Belt West Catalysts
Iberian Belt West Catalysts MRE - Update DSI granted by Junta Public Consultation – Andalucia Environmental Impact Updated Prefeasibility Study Complete Study (AAU) - Submit metallurgical results (PFS) - Complete Mineral Resource for precious metal Huelva Mining Dept. – Estimate (MRE) recoveries Met
Slide 12: IBW Insights: Similar Grade to Producers
IBW Insights: Similar Grade to Producers ZnEq 8.51% 8.19% 7.69% 15.61% 8.96% 6.62% Recoverable Grade Total Resource Tonnage ( Mt) 62.6 41.4 53.6 38.6 19.0 18.3 Indicated 6.8 9.4 M&I 4.5 2.8 4.0 Emerita Foran First Quantum Adriatic Metals Sandfire Boliden Inferred MRE Construction Awaiting Restart Pr
Slide 13: Iberian Belt West - Producer Status Re-Rating Opportunity
Iberian Belt West - Producer Status Re-Rating Opportunity Enterprise Value to In-Situ Value: Advanced Stage VMS Developers Emerita Adriatic Foran Resources Metals Mining Enterprise Value C$132M C$1,765M C$3,800M $3,800M In-Situ Value C$10.02B C$15.05B C$17.2B Acquired by Eldorado Gold for EV to In-S
Slide 14: San Antonio & Nuevo Tintillo
San Antonio & Nuevo Tintillo Exploration Projects
Slide 15: San Antonio Project Adjacent To IBW – Strategic Exploration Upside
San Antonio Project Adjacent To IBW – Strategic Exploration Upside San Antonio Exploration Area: 6,599.7 Ha San Antonio Historic Production* Los Silos Mine: high-grade copper ore Gibraltar Mine: high-grade copper ore (5% Cu) Vuelta Falsa and Trimpancho Mines: massive sulphide ore Sao Domingo Mine: m
Slide 16: Nuevo Tintillo Project: Past Producing Land Package
Nuevo Tintillo Project: Past Producing Land Package Area of Gossan Discovery Property Region Mineralization History ▪ 14,500 Ha, 100% ▪ Aguas Tenidas, Rio ▪ Discovered ▪ Within the property owned property, on Tinto mines occur extensive zone of boundary: 3 past trend with to the northwest mineralize
Slide 17: Nuevo Tintillo: New Mineralized Gossan Zone
Nuevo Tintillo: New Mineralized Gossan Zone High-grade gold, silver assays from surface sampling of gossans, ~1.5 km to the northwest of the historic Santa Flora copper mine and ~5 km east of the famous Rio Tinto Mine Precious metal-rich gossan is generally an indication of base metal rich sulphide
Slide 18: Aznalcóllar
AZNALCÓLLAR Title Dispute Resolution 2026
Slide 19: Aznalcóllar Project: High-Grade Depth Extensions
Aznalcóllar Project: High-Grade Depth Extensions ▪ One of world’s best undeveloped polymetallic deposits, 2 past producing open pit mines – Los Frailes and Aznalcóllar, with a 3rd unmined VMS deposit ▪ Original Los Frailes Reserves and Resources: ▪ Proven Ore Reserves: 46.40 Mt grading 60 g/t Ag, 2.
Slide 20: Aznalcóllar Project: Three Known Polymetallic VMS Deposits
Aznalcóllar Project: Three Known Polymetallic VMS Deposits GEOLOGICAL SOLID MODEL AND UNDERGROUND PLAN Los Frailes Deposit • Focused on development of high- grade portion of the historical resource Un-Mined 3rd Los Frailes Aznalcóllar VMS Deposit Open-Pit Open-Pit Los Frailes and Aznalcóllar Deposit
Slide 21: Aznalcóllar Project: Los Frailes Cross Section And DDH Results
Aznalcóllar Project: Los Frailes Cross Section And DDH 106 Results DDH Results Zn Eq% Zn% Pb% Cu% Ag ppm Underground Development Advantage • Early access to thickest, • High grade mineralization continues • Deposit is 40 meters thick at • Underground mining aligns high-grade mineralization beyond cu
Slide 22: Next Steps: Growing Value
Updated Updated MRE metallurgical results incorporating new for precious metal drilling and improved recoveries recoveries Next Steps: Growing AAU posted by the Value Environmental and Mining Depts. for Completion of PFS for IBW Project Into public consultation Tomorrow Nuevo Tintillo Administrative
Slide 23: Appendix
Appendix IBW La Romanera │El Cura │La Infanta
Slide 24: Capital Structure
Capital Structure Share Distribution* Strong Financial Position Management & Insiders 3.13% Institutional Capital Raise Closed private placement Credit Facility with syndicate co-led by Increased credit facility 12.07% Clarus Securities and with Nebari Natural Velocity Trade Capital, Resources Credi
Slide 25: Notes to Mineral Resource Estimates
NOTES TO MINERAL RESOURCE ESTIMATES QUALIFIED PERSON A Qualified Person, as defined in National Instrument 43-101, has not done sufficient work on behalf of Emerita to classify certain of the historical technical information included in this Presentation, including the historical estimates of the Az
Slide 26: IBW: Deposit Insights
IBW: Deposit Insights ▪ La Romanera: Gold-Rich VMS Deposit ▪ Lower lens remains open for further expansion ▪ Deposit comprises two steeply dipping massive sulphide lenses that converge into a single massive lens at depth ▪ Thickness ranges from 3m to 32m, with a strike length of ~600m ▪ Extends to a
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