Western Metallica Announces Non-Binding LOI with Emerita Resources Corp FOR Sale of Nueva Celti
WESTERN METALLICA ANNOUNCES NON-BINDING LOI WITH EMERITA
RESOURCES CORP FOR SALE OF NUEVA CELTI
TORONTO, ONTARIO – September 22 2025 – Following a recent press release issued by Emerita
Resources Corp. (“Emerita”), Western Metallica Resources Corp. (TSXV: WMS) “Western Metallica”
or the “Company”) confirms that on August 18, 2025 it entered into a non-binding letter of intent (the
“LOI”) with Emerita pursuant to which it is proposed that Emerita would acquire Western Metallica’s
Spanish subsidiary Western Metallica, S.L. (“WMS Spain”), which holds 100% ownership of the Nueva
Celti Project (“Nueva Celti”), located in the province of Seville, Andalusia, Spain.
Pursuant to the LOI, in order to acquire a 100% interest in WMS Spain, Emerita must pay to Western
Metallica (i) a CAD$150,000 deposit in cash; and (ii) $250,000 to be settled in Emerita shares using
the closing price per Emerita share on the day prior to the execution of a binding share purchase
agreement between the parties. The terms of the final agreement may differ. This transaction remains
subject to obtaining a three-year extension to the exploration permit(s) on the Nueva Celti concession,
entering into a binding share purchase agreement, TSX Venture Exchange approval including
disinterested shareholders’ approval and evidence of value demonstration if necessary, as well as
other customary closing conditions.
Emerita is considered to be a non-arm’s length party to the Company as Greg Duras, the Company’s
CEO, is Emerita’s Chief Financial Officer.
There is no assurance that the Company will be able to enter into a binding agreement or to meet the
closing conditions.
The Company’s principal asset remains Penedela gold project in Asturias and a renewal application
has been submitted for an additional 3 years.
About Western Metallica Resources Corp.
Western Metallica is an Ontario registered company with its head office in Toronto, Ontario, trading
on the TSXV under symbol WMS. Western Metallica is in the business of mineral resource exploration.
Its project interests include its 100% owned Nueva Celti Copper Property in Andalusia, Spain, and
three other gold projects located in the “Navelgas Gold Belt” in Asturias, Spain (Penedela, Valledor
and Sierra Alta). Further information can be found at: www.westernmetallicacorp.com
Neither the 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.
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the terminated Debt Settlement and the bridge loan are
forward-looking statements and are prospective in nature. Forward-looking statements are not based on
historical facts, but rather on current expectations and projections about future events, and are therefore
subject to risks and uncertainties which could cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These statements generally can be identified by
the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”,
“anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward -looking
statements in this news release include statements regarding the non-binding LOI and the likelihood that a
binding agreement will be reached and the receipt of all required approval, including approval of the TSXV.
Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the
Company’s ability to complete the Debt Settlement, including the risk that the D ebt Settlement may not be
completed as expected or at all, that the TSXV may not approve the Debt Settlement and such other factors
beyond the control of the Company. Such forward looking statements should therefore be construed in light
of such factors, a nd the Company is not under any obligation, and expressly disclaims any intention or
obligation, to update or revise any forward looking statements, whether as a result of new information,
future events or otherwise.
Western Metallica Resources Corp.
Gregory Duras
Chief Executive Officer
+1 416 576-3136
Email: [email protected]