Emerita Resources: Catalyzing the IBW Project - Will Their Meticulous Documentation Secure the Spanish Exploitation Licence?

Emerita Resources Forges Ahead: Submits Comprehensive Documentation for Exploitation Licence at IBW Project

Submission of Supporting Documentation

Emerita Resources Corp. , a leading mining exploration company, has made significant strides in its pursuit of an exploitation licence for the Iberian Belt West project (IBW) situated in Spain. Through its wholly-owned Spanish subsidiary, Emerita Resources España S. L. U. , the company has successfully filed comprehensive documentation with the "Delegación Territorial de Energía y Minas in Huelva province, Junta de Andalucia" to bolster its application for the Exploitation Licence.

This critical submission constitutes all the necessary technical facets essential for mining operations, encompassing extraction and processing procedures at the IBW Project.

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Additionally, the documentation includes detailed plans for infrastructure, requisite equipment, and arrangements for tailings storage facilities. Moreover, a comprehensive restoration plan has been integrated into the documentation to underscore Emerita’s commitment to responsible mining practices.

However, it's noteworthy that while the Exploitation Licence application and its Supporting Documentation are meticulously prepared with the technical nuances required for Spanish authority approvals, they currently lack compliance with National Instrument 43-101 (NI 43-101). Therefore, financial specifics or economic assessments regarding the project cannot be disclosed at this stage.

Future NI 43-101 Compliant Study and License Overview

The Supporting Documentation sets the foundation for an upcoming NI 43-101 compliant economic study, slated for release in the first half of 2024. This study will integrate the environmental parameters, basic engineering blueprints, and an updated mineral resource estimate, incorporating recent drill results.

Upon its successful granting, the Exploitation Licence in Spain carries a significant term of 30 years, extendable for two additional 30-year periods, emphasizing the long-term vision and commitment Emerita has for the IBW Project.

CEO's Perspective and Project Progress

Joaquin Merino, P. Geo. , Emerita's President, expressed optimism about this crucial milestone, stating, “The submission of this detailed documentation in support of the Exploitation Licence application marks an important milestone for Emerita. " Merino added that this transition from exploration to development exemplifies the company's determination to invest in Huelva Province for the long haul.

Highlighting productive engagements with key government officials in the region, Merino articulated the promising support and guidance received. This positive interaction solidifies Emerita’s commitment to advancing the IBW Project to its next phase of development.

Emerita Resources’ comprehensive submission of Supporting Documentation represents a significant leap forward in the IBW Project's journey. With detailed plans and a commitment to adhering to stringent regulatory requirements, the company is primed to embark on the next phase of development in its mining pursuits within Huelva Province, Spain.

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