Emerita Resources Corp. · TSXV:EMO
Emerita Resources — Investor Presentation (February 2025)
32 slides from Emerita Resources's investor presentation, February 2025
Slide 1: Developing High Grade Polymetallic Deposits in Spain
Developing High Grade Polymetallic Deposits in Spain February 2025 TSX-V: EMO OTCQB: EMOTF FRA: LLJA La Romanera Deposit – Iberian Belt West
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains, or incorporates by reference, “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, statements with respect to the future performance of Em
Slide 3: Why Emerita – Rapidly Advancing the Iberian Belt West Project
WHY EMERITA – RAPIDLY ADVANCING THE IBERIAN BELT WEST PROJECT Iberian Belt West – Our Flagship VMS Project Proximal to Current Producers Comprised of 3 high-grade deposits – La Romanera, El Cura, and Regional mines include Neves-Corvo (Lundin Mining), Aguas Teñidas Mine La Infanta (Sandfire), Rio Ti
Slide 4: A Historic Mining District
A HISTORIC MINING DISTRICT Spain Portugal ▪ The Iberian Pyrite Belt is located in the southwest portion of the Iberian Peninsula, bordering Portugal and Spain forming an arch ~240 km long and ~35 km wide between Seville (Spain) in the west and Grándola (Portugal) in the east ▪ One of the most import
Slide 5: Iberian Belt West Project - Andalucía, Spain
IBERIAN BELT WEST PROJECT - ANDALUCÍA, SPAIN Aguas Teñidas Neves-Corvo (63KM from IBW) Rio Tinto Nuevo Tintillo Portugal Iberian Belt West Las Cruces Aznalcóllar (Pending) INFRASTRUCTURE ▪ Paved roads, railways, and ports near; land package at IBW totals 23.94 km² ▪ Support by Andalucian government
Slide 6: Delivering Value Through Project Development
DELIVERING VALUE THROUGH PROJECT DEVELOPMENT Corporate Advancing Our Properties Unlocking Shareholder Value Strong management team with proven Update to NI 43-101 Mineral Resource IBW granted “Designation of Strategic track record for success in exploration, Estimate expected in Q1 2025, a Importanc
Slide 7: Iberian Belt West Project Overview
Iberian Belt West Project Overview T: +1 (647)-910-2500 www.emeritaresources.com info@emeritaresources.com
Slide 8: Significant Advancements Since the Initial Mineral Resource
SIGNIFICANT ADVANCEMENTS SINCE THE INITIAL MINERAL RESOURCE Average Grade Initial Mineral Resource Estimate Tonnes Cu ▪ Indicated resource of 14.07Mt at 7.63% ZnEq* Deposit Class Zn (%) Pb (%) Ag (g/t) Au (g/t) ZnEq % (Mt) (%) Indicated 13.00 2.98 1.45 0.42 74.1 1.48 7.08 ▪ Inferred resource of 4.71
Slide 9: Emerita Has Filed Application for Exploitation License
IBERIAN BELT WEST PROJECT – EMERITA HAS FILED APPLICATION FOR EXPLOITATION LICENSE Exploitation License for flagship IBW Project will grant Emerita a 30-year term renewable up to 90 years Marks transition of IBW from exploration to mine development Baseline metallurgy released with technical aspects
Slide 10: IBW's Declaration of Strategic Interest Status a Significant Milestone Forward
IBW’S “DECLARATION OF STRATEGIC INTEREST” STATUS A SIGNIFICANT MILESTONE FORWARD Preferential & Expedited Treatment For IBW o Because of IBW’s “strategic” designation, the highest level of the Andalusian Government will assign an “accelerated taskforce” for Emerita that will expedite all submitted d
Slide 11: La Romanera Mineralization and Longitudinal Sections
LA ROMANERA MINERALIZATION AND LONGITUDINAL SECTIONS Open Open Drill hole spacing at a maximum of 50 Both the Upper and Lower lenses at meters apart to define an Indicated La Romanera remain open for further mineral resource estimate expansion with drilling continuing (1) Emerita Resources’ zinc equ
Slide 12: La Infanta Mineralization and Longitudinal Section
LA INFANTA MINERALIZATION AND LONGITUDINAL SECTION 01 1.07 Mt Indicated and 1.56 Mt Inferred initial resource. Indicated resources at La Infanta correspond to the shallower portions of the South and North Blocks 02 La Infanta drill results continue to show shallow, high-grade zone at roughly 3-10 me
Slide 13: El Cura – Uncovering a New Polymetallic Discovery Within IBW
EL CURA – UNCOVERING A NEW POLYMETALLIC DISCOVERY WITHIN IBW Drill results to date demonstrate that El Cura is a more copper-gold-silver rich system and lower in zinc and lead than either La Romanera or La Infanta deposits There is a thicker volume of high-grade copper-gold mineralization emerging,
Slide 14: El Cura – A New Copper-Gold-Silver Rich System
EL CURA – A NEW COPPER-GOLD-SILVER RICH SYSTEM Recent results demonstrate the continuity of El Cura’s mineralization down-plunge to the west and continue to delineate a thicker, high grade copper-gold-silver zone which remains open at shallow depths below 300 meters vertical EC028 represents a signi
Slide 15: El Cura – Significant New Mineralization Adjacent to Proposed Infrastructure
EL CURA – SIGNIFICANT NEW MINERALIZATION ADJACENT TO PROPOSED INFRASTRUCTURE El Cura is located adjacent to the proposed main mine El Cura has potential to be a low CapEx addition to the ramp from the current conceptual mine plan being IBW conceptual mine plan. used in the Exploitation license appli
Slide 16: Ongoing Metallurgy Testing – Driving Continuous Improvement at IBW
ONGOING METALLURGY TESTING – DRIVING CONTINUOUS IMPROVEMENT AT IBW Metallurgical Advancements Emerita has developed a two-stage metallurgical process at the La Romanera deposit, achieving Zn % Pb % Cu % Ag % Au % impressive combined recoveries of 91.3% zinc, 85.8% Recovery Recovery Recovery Recovery
Slide 17: Emerita vs. Our Peers
ZnEq Grades (After Recovery) Total Resource Tonnage EMO ZnEq Grade (Inferred; after recovery factors) EMERITA VS. OUR PEERS In-Situ Grade (Before Recovery) EMO ZnEq Grade (Indicated; after recovery factors) 13.93% 10.3% ZnEq ZnEq 8.96% 9.29% ZnEq 7.69% ZnEq 9.29% 8.19% 7.63% ZnEq ZnEq ZnEq ZnEq 69.0
Slide 18: Iberian Belt West – Valuation Upside Through De-risking
In-Situ Valuation (Resource Only; Post-Recovery) IBERIAN BELT WEST – VALUATION UPSIDE THROUGH DE-RISKING Enterprise Value (in $CAD millions) Enterprise Value to In-Situ Value: Operator Emerita Adriatic Foran Resources Metals Mining Advanced Stage VMS Developers Enterprise Value C$473M C$1,420M C$1,3
Slide 19: Emerita Secures Up to US$15 Million with Nebari to Advance IBW Project
EMERITA SECURES UP TO US$15 MILLION WITH NEBARI TO ADVANCE IBW PROJECT US$15M $US15M Secures Project Financing • Credit agreement entered with Nebari Resources • Emerita has the ability to borrow up to a maximum of US$15M in three (3) separate tranches 3 Separate Tranches US$6M Provides Flexibility
Slide 20: Nuevo Tintillo Overview
Nuevo Tintillo Overview T: +1 (647)-910-2500 www.emeritaresources.com info@emeritaresources.com
Slide 21: Nuevo Tintillo Project – Past Producing Land Package
NUEVO TINTILLO PROJECT – PAST PRODUCING LAND PACKAGE GEOLOGICAL MAP (NUEVO TINTILLO) (1) 14,500 hectares, 100% owned 1 property, on trend with producing mines in the region 3 past producers and 5 other 2 known metal occurrence within the property boundary Aguas Tenidas, Rio Tinto to the northwest an
Slide 22: Nuevo Tintillo – New Mineralized Trend
NUEVO TINTILLO – NEW MINERALIZED TREND High grade gold assay results have been received from surface sampling of gossans which may represent underlying massive to semi-massive sulphide mineralization New mineralized trend hosts both siliceous stockwork and gossan over ~130m of strike; located ~1.5 k
Slide 23: Aznalcóllar Overview
Aznalcóllar Overview T: +1 (647)-910-2500 www.emeritaresources.com info@emeritaresources.com
Slide 24: Aznalcóllar Project – Andalucía, Spain
AZNALCÓLLAR PROJECT(2) – ANDALUCÍA, SPAIN PROJECT SUMMARY (1) HIGH-GRADE DEPTH EXTENSIONS ▪ One of world’s best undeveloped zinc deposits and a past open-pit producer. Contains 2 deposits – Los Frailes and Aznalcóllar, with a 3rd unmined VMS lens nearby ▪ Los Frailes mine originally contained ~73 Mt
Slide 25: Aznalcóllar Project – Three Known Polymetallic VMS Deposits
AZNALCÓLLAR PROJECT – THREE KNOWN POLYMETALLIC VMS DEPOSITS GEOLOGICAL SOLID MODEL AND UNDERGROUND PLAN (1) The high-grade portion of the historical resource(1) is entirely within the Los Frailes deposit. Past producing Aznalcóllar deposit and a Un-Mined 3rd Los Frailes Aznalcóllar 3rd deposit also
Slide 26: Aznalcóllar Project – Los Frailes Cross Section and DDH Results
AZNALCÓLLAR PROJECT – LOS FRAILES CROSS SECTION AND DDH 106 RESULTS (1) DDH Results Zn Eq% Zn% Pb% Cu% Ag ppm Deposits drilled to shallow open pit depths only and constrained due to high strip ratio. High grade continues beyond current drilling. The deposit is 40 meters thick at the deepest drill ho
Slide 27: Near Term Targets/Next Steps
NEAR TERM TARGETS/NEXT STEPS Continue drilling with 3 drills at El Cura deposit to expand the deposit and increase drill hole density for mineral resource estimation. Lock the drill hole data base at year-end in preparation for revised mineral resource estimate in Q1/2025. Continue improving the met
Slide 28: Appendix
Appendix T: +1 (647)-910-2500 www.emeritaresources.com info@emeritaresources.com
Slide 29: La Romanera – Defining a Higher Grade Copper Zone
LA ROMANERA – DEFINING A HIGHER GRADE COPPER ZONE Recent drill holes indicate elevated copper and gold values relative to zinc and lead grades, with copper grades reaching up to 1.0% Cu and 0.91 g/t Au at 69 meter widths*. There are two steeply dipping massive sulphide lenses that converge into a th
Slide 30: Share Capital Structure and Management
SHARE CAPITAL STRUCTURE AND MANAGEMENT CAPITALIZATION (IN MILLIONS) David Gower Mr. Gower is a founding director of Emerita and has held Executive and Director (P.Geo.) positions with several junior and midsize mining companies for the past 12 years, Basic Shares Outstanding 258.05 CEO and Director
Slide 31: Board of Directors
BOARD OF DIRECTORS Lawrence Guy Larry Guy is a Managing Director with Next Edge Capital focused on driving the business forward via strategic partnerships, Chairman corporate development, and development of new products. Previously, Mr. Guy was a Vice President with Purpose Investments having joined
Slide 32: Capital Structure
CAPITAL STRUCTURE Share Price History(1) (TSX.V: EMO) Share Distribution 4.50 52-Week Range C$0.38-1.94 EMO.V Free-Float Shares 232.27M Management 4.00 50-Day Moving Avg C$1.11 & Insiders 3.50 Avg. 3 Month Vol. (000’s) 348.17 5.38% 3.00 Institutional 10.05% 2.50 2.00 1.50 1.00 0.50 - Retail, HNW, an
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