Emerita Provides Update ON the Falcon Litio Mg Project and Completes Continuance into the Province of Ontario
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
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EMERITA PROVIDES UPDATE ON THE FALCON LITIO MG PROJECT AND COMPLETES
CONTINUANCE INTO THE PROVINCE OF ONTARIO
Toronto, Ontario, September 12, 201 7 – Emerita Resources Cor p. (“Emerita” or the
“Company”) (TSX-V: EMO) has issued 500,000 common shares to Falcon Metais Ltda.
(“Falcon”) in order to keep Emerita’s option (the “Option”) to acquire a 100% interest in the
Falcon Litio MG Project (the “ Litio Project”) in good standing pursuant to the terms of the
binding letter agreement with Falcon entered into on June 13, 2016 . In order to exercise the
Option and acquire the Project, Emerita must issue a third tranche of 500,000 common shares
to Falcon on or before June 13, 2018 . The Emerita common shares issued to Falcon are
subject to a statutory hold period which expires on January 12, 2018. Please see Emerita’s
press release issued on June 13, 2016 for additional information on the Project and the terms
of the Option.
David Gower, P.Geo., Chairman of Emerita, commented: “The Litio Project is in close proximity
to the Salobro zinc project that Emerita is in the process of acquiring from Vale S.A., which
provides an exceptional opportunity for Emerita to explore th e Litio Project very cost
effectively as its technical team will be in the area . The Litio Project is adjacent to Brazil’s only
lithium producer as the property boundary is only approximately 500 meters from the
producing deposit. The Company’s focus continues to be on base metal projects but this is an
exceptional opportunity to add value at a very low cost.”
The Litio Project
The Litio Project is located in Minas Gerais State, Brazil immediately adjacent to Companhia
Brasileira de Litio (“CBL”) lithium mine (see map below) . Pegmatite dykes similar to the
mineralized dykes on the adjacent property have been identified on the Litio Project during the
initial field reconnaissance of the area. According to Dr. Fernando Tallarico, P.Geo, an
independent consultant for Emerita, “the proximity to the producing operation along with the
geological evidence observed in the field, indicate further mapping, sampling and drilling are
merited.”
Lithium m ineralization in the area where the Litio Project is located is associated with
Neoproterozoic granitic intrusions that have deposited lithium mineralization with minor
contents of rare metals such as thallium, niobium and tin in the apical aureole of these
intrusions. Mineralization is hosted by pegm atite dykes with widths varying from 5 to 30
meters and strike in excess of 1 kilometer. The mineralized pegmatite dyke system is
structurally-controlled by a framework of NW and NE crosscutting faults and fractures, and
locally is characterized by stockwork systems or sets of sub-paralleled sheeted-dykes. The main
lithium mineral at the adjacent operation is spodumene with minor amounts of petalite. CBL
produces lithium concentrate with a grade of approximately 5% LiO2 that is converted in a
chemical plant, also belonging to CBL, into lithium-hydroxide and lithium-carbonate.
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
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Location of the Project permit relative to the producing CBL lithium mine.
Corporate Update
Emerita also announces that it has continued from the Province of British Columbia to the
Province of Ontario (the “Continuance”) pursuant to a special resolution passed by Emerita
shareholders at the annual and special meeting of Emerita shareholders held on May 31, 2017.
Further details regarding the Continuance are set out in Emerita’s mana gement information
circular dated May 2, 2017 filed under Emerita’s SEDAR profile at www.sedar.com.
Qualified Person
Dr. Fernando Tallarico, P.Geo., is a “qualified person” as such term is defined in NI 43-101 and
has reviewed and approved the scientific and technical information included in this press
release and has approved its dissemination . Dr. Tallarico is considered independent of
Emerita.
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 and
Brazil. The Company’s corporate office and technical team are based in Sevilla, Spain with an
administrative office in Toronto, Canada.
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
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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 Project, the Company’s ability to exercise the Option, the
mineralization of the Project, the ability of the Company to be granted any mining rights and
the Company’s future plans. 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 anticipate ”, 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 expressed
or implied by such forward-looking information, including but not limited to: general business,
economic, competitive, geopolitical and social uncertainties; t he 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 as
anticipated, estima ted 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 undue reliance on
forward-looking information. Emerita 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.