Emerita Provides a Further Update on the Aznalcóllar Appeal
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
Emerita Provides a Further Update on the Aznalcóllar Appeal
Toronto, Ontario, January 26, 2017 – Emerita Resources Corp. (the “Company” or
“Emerita”) (TSX-V: EMO) is pleased to announce that , as directed by a judicial order of the
Provincial Court of Seville (the “ Court”), the “Unidad Centro Operativo (UCO) de la Guardia Civil”
(Spain’s national police force, the “Federal Police”) has obtained critical documents related to the
Aznalcóllar tender process from the Direccion General de Industria, Energía y Minas (the
Andalusian government agency responsible for administration of the Aznalcóllar public tender, the
“Andalusian Mining Agency”). The Court has also issued an additional judicial order mandating
that the records, dating back to January 2013 , of all banking transactions , financial information
and bank accounts linked to the Minorbis and Grupo Mexico group of companies (the “ Grupo-
Minorbis Group ”), a competitor bidder in the Aznalcóllar tender process , in relation to the
Aznalcóllar tender process be provided to the Court.
The Federal Police have also requisitioned critical documentation from the Andalu sian Mining
Agency relating to the Aznalcóllar tender process. In particular, the Federal Police are seeking
documentation to clarify to whom the Andalusian Mining Agency granted the Aznalcóllar tender.
The Andalusian Mining Agency formally issued a decision awarding the rights to the Aznalcóllar
project to Grupo -Minorbis Group , however, the rights to the Aznalcóllar project were instead
accepted by Minera Los Frailes, a company which never participated in the Aznalcóllar tender
process. Pursuant to the laws and regulation governing public tenders in Spain, the Andalusian
Mining Agency should have issued a decision formally awarding the rights to the Aznalcóllar
project to Minera Los Frailes if Minera Los Frailes had actually participated in the tender process .
A copy of the document awarding the Aznalcóllar tender to Minera Los Frailes , to the Company’s
knowledge, has not been made public nor been provided to the Court or Federal Police.
Joaquin Merino , P. Geo., President and CEO of E merita commented: “These actions by the
Provincial Court of Seville and Spain’s national police force are important steps to properly
resolving the Aznalcóllar tender and we are confident based on the ruling of the court that there
will be a positive outcome for Emerita when the legal process i s concluded. Emerita’s Spanish
legal counsel has advised Emerita that under Spanish law should the commission of a crime occur
in the awarding of a public tender, such bid will be disqualified and the tender is required to be
awarded to the next qualified bidder. Emerita strongly believes that it is the only qualified bidder
in the Aznalcóllar tender process. Based on reports published in the Spanish media, the
Andalusian government has indicated it will cooper ate fully with the investigation which should
expedite the legal process as certain key documents previously requested by the Court were not
submitted. Emerita remains committed to working with the community of Aznalcóllar to develop
the Aznalcóllar project in an environmentally responsible manner with the highest regard for the
safety of its employees and community participation.”
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
About Emerita Resources Corp.
Emerita is a natural resource company engaged in the acquisition, exploration and development of
mineral properties with a primary focus on exploring in Spain and Brazil. The Company’s corporate
office and technical team are based in Sevilla, Spain with an administrative office in Toronto,
Canada.
For further information, contact:
Joaquin Merino
+34 (628) 1754 66 (Spain)
Helia Bento
+1 416 309 4293 (Toronto)
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 Aznalcóllar project, the significance of the Court’s rules, the significance
of the Court and the Federal Police’s actions, the results of any appeals or judicial or
administrative proceedings in connection with the Aznalcóllar project, participation in any public
tenders, the ability of the Company to be granted any mining rights pursuant to a public tender
process, the potential of the Aznalcóllar project and the Company’s future plans. Generally,
forward-looking information can be identified by the use of forwar d-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 c ertain 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 purchased properties or mining rights awarded; 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 a s 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 un due reliance on forward -looking information. Emerita
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
does not undertake to update any forward -looking information, except in accordance with
applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.