Emerita Hits High-Grade Copper, Fueling Spain's Green Metal Hopes

TORONTO, ON – February 09, 2026 – Emerita Resources Corp. has announced a series of significant high-grade polymetallic intercepts from its El Cura deposit in Spain, providing a critical data boost for a major engineering study and reinforcing the project's potential to supply metals essential for the green energy transition.

The Toronto-based exploration company reported that drill hole EC094, one of the highlights from the ongoing program, intersected a 9.2-meter-wide zone grading 1.4% copper, 1.3% zinc, 0.4% lead, accompanied by 0.41 grams per tonne (g/t) gold and 21.48 g/t silver. These results are part of a sustained campaign at the company’s wholly-owned Iberian Belt West (IBW) project, which is advancing towards a Prefeasibility Study (PFS).

The announcement sent a positive signal about the underlying value of the asset, which is situated in the prolific Iberian Pyrite Belt, a region with a mining history stretching back to Roman times. The new data not only expands the known mineralization but also significantly increases the geological confidence as the project moves from exploration to economic evaluation.

Expanding a Historic Deposit

The latest drilling campaign has successfully extended the boundaries of the El Cura deposit, which is one of three Volcanogenic Massive Sulfide (VMS) deposits within the IBW project, alongside La Romanera and La Infanta. The reported holes cover a strike length of approximately 420 meters and extend the known mineralization 460 meters down-dip.

Drill hole EC089, with an intercept of 2.8 meters grading 1.71 g/t gold and 30.95 g/t silver in addition to base metals, now helps define the deepest part of the El Cura deposit explored to date. Nearer to the surface, the thick, high-grade copper intercept in hole EC094 builds on previous successes in the area, confirming the continuity of the mineralized body. Another key intercept, EC093, returned 5.6 meters grading 1.2% copper and 0.82 g/t gold, representing one of the thickest zones found in the central part of the deposit.

Crucially, the data being incorporated into the project’s upcoming NI 43-101 Mineral Resource Estimate (MRE) has more than doubled. The new MRE, a cornerstone of the PFS, will be based on assay results from 91 drill holes, a substantial increase from the 39 holes used in the maiden MRE in 2025. This dramatic expansion in the drill hole database is fundamental for upgrading mineral resources from the lower-confidence 'Inferred' category to the 'Measured and Indicated' categories required for a robust economic study.

By applying modern exploration techniques and a systematic drilling approach, Emerita is effectively breathing new life into a historic mining district, demonstrating that significant undiscovered potential remains in a region that has been a bedrock of European metal production for centuries.

Fueling the Future: Critical Metals in a Bull Market

The timing of Emerita's discovery aligns with a powerful global narrative: the urgent need for critical minerals to power the green transition. The copper and zinc found in abundance at El Cura are fundamental components for electric vehicles, wind turbines, solar panels, and the extensive grid upgrades required to support a decarbonized economy.

This strategic importance is reflected in soaring commodity market forecasts. With the results showing consistent copper grades well over 1%, the project's potential economics are buoyed by predictions from major financial institutions. J.P. Morgan Global Research, for example, forecasts copper prices could average over $12,000 per metric tonne in 2026 amid a growing supply deficit. Similarly, bullish outlooks for gold and silver, with some analysts projecting gold to exceed $5,000 per ounce in 2026, add significant potential value to the precious metal credits within the deposit.

For Europe, projects like Iberian Belt West represent a tangible step towards reducing reliance on foreign supply chains for these strategic raw materials. As geopolitical uncertainties and logistical challenges highlight the fragility of global supply, developing domestic sources of base and precious metals has become a key priority for governments and industry alike.

The Path to Production: Studies, Regulations, and Finance

While the drill results are promising, they represent one step on a long and complex path to developing a new mine. The immediate focus for Emerita is the completion of the Prefeasibility Study. This comprehensive engineering document will provide the first detailed look at the project's potential economic viability, outlining proposed mining methods, processing plans, and initial estimates for capital and operating costs.

As an exploration-stage company, Emerita currently generates no revenue and relies on capital markets to fund its activities. The company, which trades on the TSX Venture Exchange, reported a healthy liquidity position in its recent financial statements, with short-term assets exceeding liabilities. However, its stock has seen a significant decline over the past year, reflecting the inherent volatility and risks associated with mineral exploration. The positive results from this drilling program and the forthcoming PFS will be crucial for rebuilding investor confidence and securing the future financing needed for development.

Operating in Spain places the project within a jurisdiction with a long-established mining industry and a robust regulatory framework. Emerita's adherence to Canada's National Instrument 43-101 reporting standards ensures a high degree of transparency and scientific rigor, which is essential for navigating the country's environmental and social licensing processes. The company’s ongoing drilling at both the El Cura and La Infanta deposits signals a clear strategy to de-risk the project and methodically advance it through the necessary milestones, with the completion of the PFS marking the next major catalyst on the horizon.