Emerita Resources Completes Nebari Facility Upsizing
EMERITA RESOURCES COMPLETES NEBARI FACILITY UPSIZING
December 16, 2025 -- Toronto, Ontario - Emerita Resources Corp. (TSXV: EMO) (the “Company” or “Emerita”)
announces that the amended credit agreement (the “Loan Agreement”) with Nebari Natural Resources Credit Fund II,
LP (the “Lender” or “Nebari”) pursuant to which a fourth tranche of USD$35,000,000 will be made available as a standby
loan to the Company (the “Upsized Loan”) has been approved by the TSX Venture Exchange (the “TSXV”). Please see
the Company’s press release dated September 4, 2025 for addition al details regarding the Upsized Loan. Nebari has
agreed to waive its entitlement to receive Emerita common share purchase warrants in connection with the Upsized
Loan.
The Upsized Loan provides flexible financial support to allow Emerita to continue to advance its wholly -owned Iberian
Belt West Project (the “IBW Project”), and a drawdown under each of tranches 2, 3 and 4 under the Loan Agreement is
at the sole discretion of the Company subject to satisfying the applicable conditions precedent for the applicable tranche
in the Loan Agreement.
Steven Bowles, Nebari’s Managing Director, stated: “Nebari continues to believe in the potential of the IBW Project and
is pleased to provide additional financing capacity of now up to USD$50 million to the Emerita team. IBW is well
positioned to advance t oward the execution stage of the project with its growing resources, modest expected capital
cost and established local infrastructure all in a supportive mining jurisdiction .”
David Gower, P.Geo., CEO of Emerita, commented: “We are excited to be advancing the IBW project through permitting
and prefeasibility and driving diligently towards a production decision. Technical results at the project, including from
ongoing drilling at El Cura deposit and metallurgical advancements along with strong metal prices for all of the
commodities (zinc, copper, lead, gold and silver) expected to be produced are further enhancing the project’s potential.
We are very grateful to have a partners hip with Nebari in supporting the development plans for a modern and
sustainably developed mine at IBW.”
The Company intends to use the proceeds of the Upsized Loan for working capital requirements related to exploration
and geological drilling, advancement of engineering studies, environmental permitting at the IBW Project, deposits on
long lead time items and general and administrative costs of the Compan y.
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)
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 Upsized Loan and the
completion thereof on the terms described herein or at all ; the Company’s intended use of proceeds from the Upsized
Loan; the draw down by the Company under any tranche; the advancement of the IBW Project; short and medium term
milestones; metal prices, the viability of the IBW project, metallurgical studies and results, the development plan for
the IBW Project and the Company’s future plans and growth opportunities. 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 ant icipate”, 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 exp ressed or implied by such forward- looking
information, including but not limited to: risks related to the repayment of the Upsized Loan, and business prospects
and opportunities of the Company. 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 in tended. 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) nor any other
regulatory authority accepts responsibility for the adequacy or accuracy of this release.