Emerita Resources

Emerita is a Canadian mineral resources exploration company dedicated to the acquisition, exploration, research and development of prospective mining properties in the Iberian Pyrite Belt (Spain) with a focus on traditional base metals (zinc, lead and copper) and precious metals (silver and gold). 

Emerita holds a 100% interest in the Iberian Belt West (IBW) Project with a 18.8 Mt @ 8.05% ZnEq NI 43-101 compliant mineral resource, with ongoing drilling continuing at our La Romanera deposit as well as a recent new discovery at our El Cura deposit. Our portfolio also contains the highly prospective Nuevo Tintillo project, which has recently commenced drilling. Both our assets are located in the famous Iberian Pyrite Belt in Spain. Emerita is also awaiting a final court decision on the Aznalcóllar mine - one of the largest undeveloped zinc assets in the world - that contains the Los Frailes and Aznalcóllar deposits, both former past producing open pit mines.

Management Profile:

Ian Parkinson has spent the past 16 years as a sell-side mining analyst for several leading brokerage firms on Bay Street including Stifel GMP, GMP Securities and CIBC World Markets. He joined the analyst community after a successful 10-year career in industry with Falconbridge and Noranda. During Parkinson's time in industry he worked on a wide range of exploration, development and commercial interests, which include the Craig and Onaping depth discovery, Raglan mine, Lady Loretta and business development for the zinc business unit at Noranda. He built on his geology base with experience in metals trading, metal marketing and business development at the corporate level. Mr. Parkinson is an earth science graduate of Laurentian University in Sudbury, Ontario, where he was born and raised in a mining family.

What is your rationale for taking part in 121 Mining Investment?

Institutional buying, awareness and coverage. Specifically more long term buyers. More market support from institutions. Looking at other strategic opportunities (JV, strategic investment, etc.) Scaling up our Iberian Belt West is continuing so additional buying and coverage would be preferred. Final court decision on the world famous Aznalcollar mine is also expected to conclude.

What recent news would you like to highlight to investors attending?

NI 43-101 Resource Estimate (updated) was released in Q2 of 2025 for our IBW Project with a reported 18.96 MT Indicated Resource grading 8.44% ZnEq (3.01% CuEq) and 6.80 MT Inferred Resource grading 8.72% ZnEq (3.00% CuEq). Our recent high-grade copper-gold discovery at El Cura was added to the Resource for the first time, with 4 drills currently turning at El Cura. Phased metallurgical results supporting IBW was also released with the two-stage CLEVR Process™ metallurgical process achieving gold recoveries of 81.5%, 87.7% for copper, and 91.3% for zinc at La Romanera. Our Aznalcollar trial wrapped up in July 2025 with an expected verdict in Q4 2025. A PFS is also currently underway with an expected in Q4 2025. Our environmental assessment application results are also expected in H2'2025 that will lead to a mining license. IBW also added additional land claims called the "Terranova" and "San Antonio" claims around the overall IBW project, with the claims containing high-grade copper.

What are your key goals for the next 3, 6 and 12 months?

3 Months

Ongoing drilling at IBW, particularly targeting our high grade new discovery at El Cura (an added 4th rig has been deployed), with metallurgical improvements ongoing. Our PFS will also be announced in Q4 2025.

6 Months

Drilling at Nuevo Tintillo with expected results in addition to on-going drilling at IBW. Our Aznalcollar court verdict will also be released. Ongoing metallurgical work is also expected to continue with results released.

12 Months

Continued drilling at IBW and exploration at expanded "Ontario", "San Antonio" and "Terranova" claims.

What do you think makes your company such a compelling investment?

NI 43-101 Resource Estimate (maiden) was released in Q2 of 2023 for our IBW Project with a reported 14.07 MT Indicated Resource grading 7.63% ZnEq and 4.71 MT Inferred Resource grading 9.29% ZnEq. An updated resource is expected in the near-term to supplement this maiden resource that will include recent drilling at La Romanera and El Cura. Drilling and initial exploration has begun at Nuevo Tintillo, with drill results expected in late 2024. The prospective Nuevo Tintillo project is adjacent to the historical Rio Tinto mine. Aznalcollar dispute is expected to be settled in mid-2025. This former producing mine is the largest undeveloped zinc deposit in the world that originally contained a 73 and 91 million tonne reserve.

What are the top 3 key investor takeaways?

1. 1.NI 43-101 Resource Estimate (updated) was released in Q2 of 2025 for our IBW Project with a reported 18.96 MT Indicated Resource grading 8.44% ZnEq (3.01% CuEq) and 6.80 MT Inferred Resource grading 8.72% ZnEq (3.00% CuEq).
   2. IBW is a significant polymetallic asset that recently expanded from 1,545 hectares to 8,144 hectares, which includes several historic high-grade copper mines. IBW has also been granted the "designation of strategic importance" by the local Spanish government that will fast-track our permitting process.
   3. Aznalcollar dispute is expected to be settled in Q4 2025. This is the largest undeveloped Zinc Deposit in the world that originally contained a 73 and 91 million tonne reserve and is expected to be a significant re-rate for the Company.