Emerita Resources is Awarded Paymogo / LA Romanera Public Tender, Huelva Province, Spain
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
EMERITA RESOURCES IS AWARDED PAYMOGO / LA ROMANERA PUBLIC TENDER, HUELVA
PROVINCE, SPAIN
Toronto, Ontario , June 29 , 2020 – Emerita Resources Corp. (TSX-V: EMO) (the “Company” or
“Emerita”) extends its deepest condolences to the families and friends of all the victims of the tragic
COVID-19 pandemic. As noted previously (see news release dated May 4, 2020) conditions related to
the pandemic have continued to improve in Spain and the country is now moving systematically to
reopening its economy and public institutions post the lock down. Further, in the May 4th, 2020 news
release, it was indicated the Supreme Court of Spain had ruled in favor of Emerita regarding the
awarding of the Paymogo / La Romanera Public Tender and it was expected that matters related to
the awarding of the Public Tender would be resolved soon after the lock down ended.
Emerita is pleased to announce that its wholly owned Spanish subsidiary has been officially notified
through a resolution that it is the winning bidder of the Paymogo / La Romanera mining rights in
Huelva province. The evaluation of the competing bids was completed in accordance with the legal
resolution (1409/2019 verdict) dictated by the Supreme Court of Spain dated October 22, 2019. The
tender resolution has been issued by the Provincial Secretary of the Regional Ministry of Industry in
Huelva, the province in which the project is located. This is the Ministry responsible within the Junta
de Andalusia (Regional Government). The resolution declares Emerita Espana the winning bidder of
the tender. Emerita has submitted the required certificates and is now prepared to accept the mineral
rights to the project.
According to David Gower, P.Geo, CEO of Emerita, “we are very excited to have been the successful
bidder for Paymogo / La Romanera project. We look forward to initiating the work program as soon
as possible. We greatly appreciate that the officials within the government completed the resolution
in a timely manner in the face of the major disruption and tragedy caused by the pandemic. “
Joaquin Merino, P.Geo., President of Emerita states, “we will begin immediately to initiate our
technical program and acquire permits required to commence work on the site. We are committed
to commencing drilling of the project as soon as practically possible. The Company will employ best
practices with re spect to protecting the health and safety of our employees and the communities in
which we work and is developing the necessary safety protocols to commence work in a safe manner.”
About the Paymogo / La Romanera Project
The Paymogo / La Romanera project (the “Project”) occurs within the renowned Iberian Pyrite Belt
(see news rel ease dated November 6, 2019 for further details) , one of the most highly mineralized
volcanogenic massive sulfide (VMS) terranes in the world. The Project is located in the western part
of the belt, adjacent to the border with Portugal, approximately 70 km west of Seville and 50 km from
the port city of Huelva. The Project extends along a strike length of approximately 18 km. Access is
excellent via paved and all -weather gravel roads. Within the Project area, several base metal
occurrences have been identified by previous exploration, the most significant of which are the
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
Romanera and th e La Infanta base metal deposits . The deposits occur at surface, have high grade
mineralization and remain open for expansion by further drilling (see news release dated November
6, 2019 for details).
The Romanera deposit was drilled primarily by Minera Rio Tinto in the 1990s and is reported to
contain 34 million tonnes grading 0.42% copper, 2.20% lead, 2.3% zinc 44.4g/t silver and 0.8 g/t gold
within which there is a higher grade resource of 11.21 million tonnes grading 0.40% copper, 2.47%
lead, 5.50% zinc, 64.0 g/t silv er and 1.0 g/t gold (The Volcanic Hosted Massive Sulphide Deposits of
the Iberian Pyrite Belt, Garcia-Cortes ed., 2011). A qualified person, as defined in National Instrument
43-101, has not done sufficient work on behalf of Emerita to classify the histor ical estimate reported
above as current mineral resources or mineral reserves and Emerita is not treating the historical
estimate as current mineral resources or mineral reserves. The historical estimate should not be relied
upon. The deposit extends from surface to approximately 350 meters depth based on historical
drilling. The mineralization remains open for further expansion down dip beyond the limits of the
existing drilling.
The La Infanta mineralized zone has been drilled from surface where it out crops to a depth of
approximately 100 meters. Numerous high -grade intercepts (see table below) occur within the zone
and it remains open for expansion at shallow depths. Drilling was completed by Phelps Dodge in the
mid 1980s. La Infanta is located approximately 8 km to the east of the La Romanera deposit.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Mr.
Joaquin Merino, P.Geo, President of the Company and a Qualified Person as defined by National
Instrument 43-101 of the Canadian Securities Administrators.
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:
Helia Bento
+1 (416) 566-8179 (Toronto)
Joaquin Merino
+34 (628) 1754 66 (Spain)
65 Queen Street West, Suite 800, Toronto, ON, Canada, M5H 2M5
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 Company’s ability to be develop the Project, the mineralization and prospectivity of the Project,
the timing of legal processes in Spain , the Company’s ability to obtain adequate financing and the
Company’s future plan s. 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, includ ing 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 the pu rchased properties; 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, 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 anticipat ed 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 EXCH ANGE 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.