Emerita Announces Results Of Airborne Survey At Nuevo Tintillo Project, Spain |

Emerita Resources Corp. (TSX V: EMO; OTC: EMOTF) (the "Company" or "Emerita") announces that results for the high-resolution, airborne geophysical survey on its 100% owned Nuevo Tintillo ("NT" or the "Project") property have been received and analysed.

According to Joaquin Merino. P.Geo., President of Emerita, "Based on the data interpretation at least 15 targets associated with coincident magnetic anomalies and EM conductors favourable for polymetallic minerals exploration were identified within the Nuevo Tintillo property. Among these targets, there are three highly prospective targets coincident with historical workings on the western side of the property that are prioritized for immediate follow up. An experienced Senior Geologist and team have been tasked to do the field verification of the anomalies in advance of designing a drill program."

The Nuevo Tintillo property, located in Seville province, covers approximately 25 km of important stratigraphy in the western part of the Iberian Pyrite Belt (IPB) (Figure 1) surrounded by some of the most productive deposits in the history of this mining camp. The giant Rio Tinto mine occurs along strike to the northwest as does the Aguas Tenidas mine and the Aznalcollar Project and the Cobre Las Cruces Mine of First Quantum occur to the southeast of the Nuevo Tintillo property. There are seven known mineral occurrences and small past producers within the NT Project area, and the area has not been explored systematically in decades. The airborne geophysical surveys constitute the first mineral exploration activity in the area since the late 1980s.

Figure 1. Geology map, Nuevo Tintillo

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The known mineralization on the NT property is hosted by a volcanic-sedimentary formation which in the area is about 300 m thick and spatially related to a WNW-ESE oriented regional thrust fault. The deposit type is interpreted as a classical IPB volcanogenic massive sulphide (VMS) ( Figure 1 shows the local geology and the limits of the Nuevo Tintillo property). The mineralization in the Iberian Pyrite Belt, is composed of variable quantities of sphalerite, galena and chalcopyrite, commonly with associated silver and gold, in a pyritic gangue.

SURVEY DESCRIPTION The helicopter-borne Time Domain Electromagnetic System (HTDEM) and Aeromagnetic Geophysical Survey was carried out by New Resolution Geophysics Ltd. (NRG), a specialized, independent geophysical contractor based in Madrid (Spain). The airborne survey was flown over the 227-claim unit block of Nuevo Tintillo project in March 2022, using an AS350B Turbine helicopter (Figure 2. AS350B Turbine helicopter flying over the property). The helicopter survey flying height was approximately 60-70 m above the ground, so that the receiver and transmitter were 30-40 m above the ground. The penetration capability of the survey is about 500m depth. The electromagnetic system employed was a Xcite TM with a sensor configuration coincident Tx-Rx with a Fully Inflatable frame structure. The magnetic survey was completed using a NRG RDAC II Magnetometer with a recording rate of 20Hz (See Table 1 below for details).

Figure 2. AS350B Turbine helicopter

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Table 1. Equipment and data sampling specifications

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A total of 897-line kilometers of HTEM data were collected during the survey over the Nuevo Tintillo property, on transverse 100m-spaced lines along the NS orientation. (Figure 3. HTDEM Survey on the Nuevo Tintillo property). Initially the Company had planned to fly the western side of the Project at 100 m line spacing and the eastern side at 200 m line spacing. The original program was modified and the entire Project was flown at 100 meter spacing giving high resolution coverage to the entire Project area. In addition, on the advice of the geophysical contractor the airborne gravity component of the survey was deferred because there is regional gravity data available from the Spanish Government which can be used and augmented by targeted detailed ground based, higher resolution surveys, in the priority target areas. Data processing was performed by New Resolution Geophysics Ltd. (NRG).

Figure 3. HTDEM Survey on the Nuevo Tintillo property, 100-spacing lines. Digital Terrane

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PROCESSING SUMMARY QUALITY CONTROL (QC) FLOW SHEET The following chart presents the Magnetic data processing flow diagram and the Time Domain electromagnetic data processing flow diagram respectively.

Chart 1: Magnetic data processing flow diagram

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Chart 2: Time Domain electromagnetic data processing flow diagram

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NUEVO TINTILLO – GEOPHYSICAL SURVEY OBJECTIVES The primary objectives of the helicopter-borne geophysical survey was to:

TARGET SELECTION Conductivity anomalies associated with known mine working areas were used as the basis to identify and prioritize other EM conductors with similar characteristics and geological context that could be related to potential, previously unknown sulphide mineralization for further detailed investigation. Strong EM conductors appear to be the main parameter that best correlates with known mineralised lenses.

In total 15 target areas characterized by strong conductors have been prioritized within the Nuevo Tintillo property (Figure 4 and 5). On the west side of the Project, the strongest conductors are coincident with the location of the past producing Santa Flora and Nazaret mines areas. Figure 5 shows two vertical resistivity profiles in the area of the Nazaret deposit, an old mine located in the western side of the property. The mineralization is characterised by strong conductors, in the order of 50-80 ohm-m, and a dip to the North, very similar to what has been observed in the Tintillo deposit on the east side of the survey area.

Figure 4. 3D Voxet interpretation. On the east side, the extensive, strong conductors occur in the area of the small, past producing Santa Flora and Nazaret mines. These mines date to the early part of the last century before any modern exploration technology existed, yet this underexplored area is within sight of the giant Rio Tinto deposit further west.

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Figure 5. Two geophysical profiles, showing EM Conductors in the Nazaret historical mine area.

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In order to evaluate the anomalies prior to drilling, the Company plans to map the geology in detail and will complete detailed ground gravity surveys where appropriate to augment the regional gravimetry to search for anomalies of denser bodies in order to help prioritize the conductors. Massive sulphide masses are conductive and dense, and these two properties together with a favourable geology will determine the priority areas for further exploration. The objective is to commence drill testing the best targets in Q4 2022.

Joaquin Merino, P.Geo., points out, "A good example of the results this type of EM survey can deliver, was the discovery of Magdalena volcanogenic massive sulphide deposit found in the Iberian Belt by Minas de Aguas Teñidas S.A.U. (MATSA) in 2013. During a first phase of exploration, the deposit was discovered by drill testing a conductivity anomaly that was first detected during an airborne (helicopter) transient electromagnetic survey (VTEM) in 2011. This was followed by drilling which intercepted an orebody at a depth between 225m and 248m. Today, this discovery is in production."

According to David Gower, P.Geo., CEO of Emerita, "This is a unique opportunity to explore such an extensive belt of productive stratigraphy, located between very large deposits. The airborne survey has delivered very good targets that are located within the proper geological context. We are moving forward with the boot and hammer work to evaluate each target and expect to commence trenching and drilling later in the year."

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 NI 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: Joaquin Merino +34 (628) 1754 66 (Spain)

Vincent Chen +1 778 990 9433 (Toronto) info@emeritaresources.com

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, the mineralization of the Nuevo Tintillo Project; the results of exploration work on the Nuevo Tintillo Project; the prospectivity of the Project; the timing and ability of the Company to explore the Nuevo Tintillo Project and the Company's future plans. 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, including 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 purchased 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 anticipated 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 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.

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Emerita Resources Corp. (TSX V: EMO; OTC: EMOTF) is a Canadian natural resource company that acquires, explores and develops mineral properties in Spain. Emerita Resources and its joint venture partner Grupo Aldesa, a major Spanish construction and infrastructure firm with international operations, each hold a 50 percent interest in the Plaza Norte zinc project in the Reocin mining district in northern Spain.

The Plaza Norte project is adjacent to the past-producing Reocin mine, which produced approximately 62 million tonnes grading 11 percent zinc and 1.4 percent lead, and hosts mineralization extensions from the mine. The historical database for Plaza Norte includes over 300 drill holes and numerous high-grade intercepts including 18.96 meters grading 9.72 percent zinc and 8.20 meters grading 7.05 percent zinc.

Drilling is currently underway at Plaza Norte to develop a NI 43-101-compliant mineral resource estimate for the property. Once the resource estimate is released, Emerita Resources will continue to drill to increase the resource and develop a preliminary economic assessment (PEA) for the property.

Emerita Resources is also in the process of acquiring two additional properties in southern Spain: Aznalcollar and Paymogo. Each property has defined deposits that the company is interested in developing further.

Heading Emerita Resources’ management team is CEO David Gower and President Joaquin Merino-Marquez. Gower brings over 20 years of experience in mineral exploration and has made brownfield discoveries at Raglan and Sudbury, Matagami, Falcondo and greenfield discoveries at Araguaia, Kabanga and Amazonas. Merino-Marquez is a professional geologist with over 20 years of experience in the mining industry and has extensive international experience in South America, Europe and Asia-Pacific. Management holds approximately 12 percent of the company’s shares.

In October 2017, Emerita Resources and its joint venture partner Aldesa, a major Spanish construction and infrastructure firm with international operations, acquired the 3,600-hectare Plaza Norte project through a public tender process. Emerita and Aldesa each own 50 percent of the project but Emerita is the primary operator on the project. The rights to Plaza Norte have been granted for an initial three-year term with the option to renew.

The property is located in the Cantabria region in northern Spain and resides in the Reocin mining district. The Cantabria region is known for its infrastructure which includes an industrial port and excellent rail and road network. The property is adjacent to the past-producing Reocin mine, which produced approximately 62 million tonnes grading 11 percent zinc and 1.4 percent lead, and hosts mineralization extensions from the mine. Glencore’s (LSE:GLEN) San Juan de la Nieva zinc smelter is approximately 180 kilometers to the west of the property.

The historical database for Plaza Norte includes over 300 drill holes. Through the historical data, Emerita Resources has identified five areas of interest – San Miguel, Queveda, Yuso, San Gabriel and Mercadal – and numerous high-grade intercepts including 18.96 meters grading 9.72 percent zinc and 8.20 meters grading 7.05 percent zinc.

In the 10-kilometer extension from the Reocin mine, a conceptual cross-section shows several ore bodies. Previous drilling identified the zones with multiple ore grades intercepts that remain open. Emerita Resources’ 2018 exploration program focused on confirming and delineating drill targets to outline a 20 million tonne to 40 million tonne deposit.

In 2019, Emerita Resource initiated its first drill program on the property which is focused on establishing a NI 43-101-compliant mineral resource estimate. The company is following up on drill intercepts identified by a previous operator. The program marks the first systematic exploration program in the region since the Reocin mine closed in 2003. Emerita Resources has been drilling on the 1.3-kilometer by one-kilometer Queveda target. Two holes have been completed on the property to date. Initial results include a four-meter intercept grading 9.02 percent zinc within a wider mineralized zone of 9.5 meters grading 4.57 percent zinc.

Emerita Resources is working towards releasing its mineral resource estimate for Plaza Norte within a year. After that, the company intends to establish a PEA and to continue drilling on other high-priority targets to expand the resource.

David Gower is the President of Brazil Potash Corp. which has discovered the largest and highest-grade potash deposit to date in Brazil. He has over 20 years of experience in exploration with Falconbridge, (now Xstrata/Glencore) most recently as Director of Global Nickel and PGM exploration. He was a member of the Senior Operating Team for mining projects with Falconbridge. He has led exploration teams that made brownfield discoveries at Raglan and Sudbury, Matagami, Falcondo and greenfield discoveries at Araguaia in Brazil, Kabanga in Tanzania and Amazonas in Brazil. He has held executive and director positions with several junior and midsize mining companies for the past 10 years.

Joaquin Merino-Marquez is a professional geologist with 20 years of experience in the mining industry. He was previously Vice President Exploration for Primero Mining Corp. and before that Vice President Exploration for Apogee Minerals Ltd. Previously, he was the exploration manager for Placer Dome at Porgera mine and a mine geologist at Hecla Mining’s La Camorra mine. He has extensive international experience in South America, Europe and Asia-Pacific. Merino-Marquez holds a M.Sc. from Queens University, and a B.Sc. in Geology from the University of Seville (Spain). He is a member of the Association of Professional Geoscientists of Ontario.

Greg Duras has over 10 years of corporate and project finance experience in the resource sector. Some of his previous positions include, Vice President of Finance and Administration at S.C. Rosia Montana Gold Corporation S.A. (RMGC), a mineral exploration and mining development company based in Romania. He has also held a number of senior finance roles, including Controller of TSX-listed Gabriel Resources Ltd. and High River Gold Mines Ltd. He is a Certified General Accountant and a Certified Professional Accountant, and holds a Bachelor of Administration from Lakehead University.

Damian Lopez is a corporate securities lawyer who works as a legal consultant to various TSX and TSXV-listed companies. He previously worked as a securities and M&A lawyer at a large Toronto corporate legal firm, where he worked on a variety of corporate and commercial transactions. Lopez obtained a Juris Doctor from Osgoode Hall and he received a Bachelor of Commerce with a major in Economics from Rotman Commerce at the University of Toronto. He is also a director of the Canadian Hispanic Bar Association.

Marilia Bento has over 20 years of experience in the financial industry and Canadian capital markets. Some of her previous positions include, Managing Director and Head of Equity Capital Markets Canada at Macquarie Capital Markets Canada Ltd. (formerly Orion Securities Inc.) and Vice President of Corporate Development for various resource companies. She was on the Board of Directors of Orion Securities Inc. and has been a board member of junior mining companies.

Lawrence Guy is Chief Executive Officer of North 52nd Asset Management Inc. Previously, he was a Portfolio Manager with Aston Hill Financial Inc. Prior to Aston Hill, he was Chief Financial Officer and Director of Navina Asset Management Inc., a company he co-founded that was subsequently acquired by Aston Hill Financial Inc. He has also held senior offices at Fairway Capital Management Corp. and First Trust Portfolios Canada Inc. He holds a Bachelor of Arts (Economics) degree from the University of Western Ontario and is a Chartered Financial Analyst.

Catherine Stretch is the Chief Commercial Officer of Aguia Resources Limited, an ASX and TSXV-listed company engaged in the exploration and development of phosphate and copper assets in Brazil. She has 20 years of experience in capital markets with a particular focus on the formation, development and operation of resource companies. She has a Bachelor of Arts in Economics and History from Western University and a Masters of Business Administration from the Schulich School of Business at York University.

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Emerita Resources Corp. (" Emerita " or the " Company ") (TSXV: EMO) is pleased to announce that it has closed its previously announced bought deal private placement of units of the Company (the " Units ") pursuant to which the Company issued 18,182,500 Units at a price of $1.10 per Unit (the " Offering Price ") for aggregate gross proceeds of $20,000,750 (the " Offering "), which included the full exercise of the Underwriters' option to purchase additional Units. The Offering was led by Clarus Securities Inc. and Research Capital Corporation, as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters (collectively, the " Underwriters ") that included iA Private Wealth Inc.

Each Unit is comprised of one common share of the Company (a " Common Share ") and one-half of one Common Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant is exercisable to acquire one Common Share (a " Warrant Share ") at a price of $1.50 per Warrant Share for a period of 24 months from the closing of the Offering.

The Company intends to use the net proceeds from the Offering for exploration activities in Spain and for working capital and general corporate purposes.

In connection with the Offering, the Underwriters received an aggregate cash fee equal to 6.0% of the gross proceeds from the Offering. In addition, the Company issued to the Underwriters 1,090,950 non-transferable broker warrants (the " Broker Warrants "). Each Broker Warrant will entitle the holder thereof to purchase one Common Share at an exercise price equal to the Offering Price for a period of 24 months following the closing of the Offering.

The securities issued pursuant to the Offering will be subject to a four-month and one day hold period under applicable securities laws in Canada. The Offering remains subject to the final approval of the TSX Venture Exchange (the " TSXV ").

An insider of the Company subscribed for 6,800 Units under the Offering. Each transaction with an insider of the Company constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company's market capitalization.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

Emerita is a Canadian natural resource company engaged in the acquisition, exploration and development of mineral properties with a primary focus on exploring in Spain. Management has spent decades with major mining companies globally and has a successful track record that includes numerous mineral deposit discoveries and subsequent project developments in North and South America, Africa and Australia. The Company's corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada. The Company's shares are listed on the TSXV under the symbol "EMO". For further information please refer to the Company's website at www.emeritaresources.com .

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 Offering, the use of proceeds of the Offering, the expected exploration program in Spain and the Company's future plans. 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, including 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 purchased 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 anticipated 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Emerita Resources Corp. (TSXV:EMO) (the " Company ") is pleased to announce today that, due to strong demand, it has agreed with Clarus Securities Inc. (" Clarus ") and Research Capital Corporation (" Research Capital ") as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters (collectively, the " Underwriters "), to increase the size of its previously announced C$10,000,100 "bought deal" private placement offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a "bought deal" private placement basis 14,546,000 units of the Company (the " Units ") at a price of C$1.10 per Unit (the " Offering Price ") for aggregate gross proceeds to the Company of C$16,000,600 (the " Offering "). Each Unit will be comprised of one common share of the Company (a " Unit Share ") and one half of one common share purchase warrant (each whole common share purchase warrant, a " Warrant "). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a " Warrant Share ") at a price of C$1.50 for a period of 24 months following the Closing Date (as defined below).

The Company has also granted to the Underwriters an option to purchase an additional 3,636,500 Units at the same price, exercisable by the Underwriters for a period of up to two days prior to closing of the Offering for additional gross proceeds of up to $4,000,150.

The Company plans to use the net proceeds of the Offering for working capital requirements and general corporate purposes.

The Offering is scheduled to close on or about July 15, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals of the TSX Venture Exchange. The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada. The Units to be issued under this Offering will also be offered offshore, including in the United Kingdom pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.

Emerita is a Canadian natural resource company engaged in the acquisition, exploration and development of mineral properties with a primary focus on exploring in Spain.

Management has spent decades with major mining companies globally and has a successful track record that includes numerous mineral deposit discoveries and subsequent project developments in North and South America, Africa and Australia. The Company's corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.

The Company's shares are listed on the TSXV under the symbol "EMO".

For further information please refer to the Company's website at www.emeritaresources.com

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 Offering and the Company's future plans. 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, including 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 purchased 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 anticipated 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.

David Gower dgower@fmresources.ca

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Emerita Resources Corp. (TSXV:EMO) (the "Company") is pleased to announce that it has entered into an agreement with Clarus Securities Inc. and Research Capital Corporation as co-lead underwriters and joint book runners on behalf of a syndicate of underwriters (collectively, the "Underwriters") to purchase, on a bought deal private placement basis, 9,091,000 Units of the Company at a price of $1.10 per Unit, for aggregate gross proceeds of $10,000,100 (the " Offering "). The Company has also granted to the Underwriters an option to purchase an additional 1,363,650 Units at the same price, exercisable by the Underwriters for a period of up to two days prior to closing of the Offering for additional gross proceeds of up to $1,500,015.

The Company plans to use the net proceeds of the Offering for working capital requirements and general corporate purposes.

The Offering is scheduled to close on or about July 15, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange ("TSXV"). The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada , and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

About Emerita Resources Corp. Emerita is a Canadian natural resource company engaged in the acquisition, exploration and development of mineral properties with a primary focus on exploring in Spain. Management has spent decades with major mining companies globally and has a successful track record that includes numerous mineral deposit discoveries and subsequent project developments in North and South America, Africa and Australia. The Company's corporate office and technical team are based in Sevilla, Spain with an administrative office in Toronto, Canada.

The Company's shares are listed on the TSXV under the symbol "EMO".

For further information please refer to the Company's website at www.emeritaresources.com

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 Offering and the Company's future plans. 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, including 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 purchased 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 anticipated 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.

David Gower dgower@fmresources.ca

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Emerita Resources Corp. (" Emerita " or the " Company ") (TSXV: EMO) is pleased to announce that it has closed its previously announced non-brokered private placement of 13,636,363 units of the Company (the " Units ") at a price of $0.22 per Unit (the "Offering").

Each Unit is comprised of one common share of the Company (a " Common Share ") and one-half of one Common Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant is exercisable to acquire one Common Share (a " Warrant Share ") at a price of $0.30 per Warrant Share for a period of 24 months from the date hereof.

Eric Sprott, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 13,636,363 Units pursuant to the Offering for approximate consideration of $3,000,000. As a result, Mr. Sprott beneficially owns and controls 13,636,363 Common Shares and 6,818,181 Warrants, representing approximately 10.1% of the issued and outstanding Shares of the Company on a non-diluted basis and approximately 14.4 % of the issued and outstanding Common Shares on a partially-diluted basis assuming exercise of the Warrants acquired hereunder and forming part of the Units. Prior to the Offering, Mr. Sprott did not beneficially own or control any securities of the Company.

The Units were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time.

A copy of Mr. Sprott's early warning report will appear on Emerita's profile on SEDAR and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

The proceeds of the Offering will be used to continue project development work in Spain and for general corporate purposes. The Company paid finder's fees of $180,000 in cash and issued 818,181 non-transferable finder's warrants ("Finder's Warrants"). Each Finder Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.30 for a period of 24 months from the date hereof. The Offering is subject to final approval of the TSX Venture Exchange and the securities issued under the Offering have a statutory hold period of four months and one day from today's date.

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.

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 Offering, the use of proceeds of the Offering and the Company's future plans. 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, including 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 purchased 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 anticipated 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.

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Emerita Resources Corp. (" Emerita " or the " Company ") (TSXV: EMO) is pleased to announce that it intends to complete a non brokered private placement for gross proceeds of $3,000,000 through the issuance of up to 13,636,363 of units of the Company (the " Units ") to be priced at $0.22 per Unit (the "Offering"). Mr. Eric Sprott has indicated his intention to subscribe for the entire Offering.

Each Unit will be comprised of one common share of the Company (a " Common Share ") and one-half of one Common Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant shall be exercisable to acquire one Common Share (a " Warrant Share ") at a price of $0.30 per Warrant Share for a period of 24 months from the closing of the Offering. Any unexercised Warrants shall automatically expire at the end of the Exercise Period.

The Offering is scheduled to close on or about February 19, 2021 (the " Closing ") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Exchange. The Units to be issued under the Offering will have a hold period of four months and one day from Closing.

David Gower, P.Geo., CEO of Emerita commented, "We are very gratified to welcome a strategic investment from such a strong and knowledgeable partner as Mr. Sprott. This support will be invaluable as we move forward in the development of our strong Spanish projects."

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 Offering, the use of proceeds of the Offering, the expected drill program at the Iberian Belt West Project, the prospectivity of Iberian Belt West Project and the Company's future plans. 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, including 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 purchased 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 anticipated 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.

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Emerita Resources Corp. (TSX V: EMO; OTC: EMOTF) (the "Company" or "Emerita") is pleased to report that the nominees listed in the management proxy circular dated June 24, 2022 for the annual and special meeting of shareholders of Emerita held on July 21, 2022 (the "Meeting") were elected as directors of the Company. The appointment of each of the nominees to the Company's board was approved by more than 92% of the votes cast at the Meeting. Shareholders at the Meeting also approved the appointment of the Company's auditors and the Company's amended and restated stock option plan. Emerita management would like to thank shareholders for their participation and continuing support.

Vincent Chen +1 778 990 9433 (Toronto) vchen@emeritaresources.com

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, the Company's future plans. 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, including 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 purchased 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 anticipated 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.

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1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") announces that due to current market conditions the Company has changed the size of and repriced its short form prospectus offering (the "Offering") previously announced on May 4, 2022, from 15,625,000 common shares ("Common Shares") at a price of $0.08 per Common Share to 15,000,000 Common Shares at a price of $0.05 per Common Share. Closing of the Offering remains subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. The net proceeds of the Offering will be used for on-going exploration expenditures on the Company's properties and general corporate purposes.

The Company will also be undertaking a non-brokered private placement of 4,000,000 flow-through Common Shares (the "FT Shares") at a price of $0.08 per FT Share (the "Private Placement"). The FT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income TaxAct (Canada)) and will be sold on a charitable flow-through basis. The proceeds of the sale of the Private Placement will be used to fund "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) to be incurred by no later than December 31, 2023 for renunciation to investors in the Private Placement effective December 31, 2022.

The shares under the Private Placement will be subject to a four-month hold period and will not be offered or registered in the United States. Closing of the Private Placement is anticipated to occur on or before July 30, 2022 and is subject to customary closing conditions including, but not limited to, the negotiation and execution of subscription agreements and the receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

A finder's fee of cash, shares or finder's warrants, or a combination thereof, may be paid to eligible finders with respect to the Private Placement.

The Common Shares being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Common Shares in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions "Gaspé, Chibougamau Québec". With a dedicated management team, the Company's goal is to create shareholder value through the discovery of new deposits.

(signed) "Sylvain Laberge"

Sylvain Laberge President and CEO 514.702.9841 Slaberge@1844resources.com

This press release contains statements which, other than statements of historical fact constitute "forward-looking statements" within the meaning of applicable securities laws, including statements with respect to: results of exploration activities, mineral resources. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. This press release contains forward-looking information in a number of places, such as in statements relating to use or proceeds from the Offering and the Private Placement, the closing of the Offering and the Private Placement and the ability to obtain the necessary regulatory approvals. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual information form for the year ended April 30, 2021, available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or 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 anticipated in such statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended June 30, 2022 from its El Roble mine. Production for the quarter totaled 3.59 million pounds of copper and 2,811 ounces of gold in concentrates, a decrease of 16% for copper and an increase of 4% for gold, over the same period in 2021.

"The El Roble mine delivered well despite having to stop operations for twenty-four days in April. The stoppage was a result of a landslide incident near the dewatering facility, we are very pleased that no injuries resulted from this incident and that damage to equipment was minor. Given the strong start to the year along with good performance during the operating days of this quarter, the Company is already back on track to deliver on guidance for the year" said Fernando E. Ganoza, CEO. "In second half of the year, we will continue our strong focus towards mine vicinity exploration at the El Roble mine, looking to extend mineralization at depth and along strike."

Overall production was below Company budget for the second quarter, entirely explained by the twenty-four-day stoppage which resulted in less than expected processed tonnes. The decrease in copper production is mainly explained by the decrease in processed ore along with a slight decrease in head grade over the same period last year. The gold output completely offset the lower processed tonnes in the quarter as we saw a significant improvement in head grade relative to Q2-2021. The operation remains on track to deliver on set guidance throughout the remainder of the year.

Note: Metal production figures are subject to adjustments based on final settlement. The reported results are preliminary in nature and are awaiting independent lab verification.

The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.

Note: Concentrate figures are subject to adjustments based on final settlement.

The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.

Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.

El Roble has Proven and Probable reserves of 1.00 million tonnes grading 3.02% copper and 1.76 g/t gold, at a cut-off grade of 1.3% copper equivalent as of September 30 th , 2020. Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit.

On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.

Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.

About Atico Mining Corporation Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com .

ON BEHALF OF THE BOARD

Fernando E. Ganoza CEO Atico Mining Corporation

Trading symbols: TSX.V: ATY | OTC: ATCMF

Investor Relations Igor Dutina Tel: +1.604.633.9022

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.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act''), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward Looking Statements

This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company's mineral projects; uncertainty of meeting anticipated program milestones for the Company's mineral projects; and other risks and uncertainties disclosed under the heading "Risk Factors" in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com

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World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") reports that, pursuant to their news release dated June 29, 2022, the Company has closed a first tranche of the Placement. On July 21, 2022 the Company issued 4,264,414 Units for gross proceeds of $1,279,324.20. Each unit consists of one common share (a "Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.60 per share. The expiry of the Warrants may be accelerated if the closing price of the Company's common shares on the TSX Venture Exchange ("TSXV") is equal to or greater than $1.00 for a minimum of twenty consecutive trading days and a notice of acceleration is provided in accordance with the terms of the Warrants.

No finder's fees were paid pursuant to this first tranche closing.

All securities issued in the Offering have a four-month plus one day hold period, during which time the securities may not be traded. Closing of the Offering is subject to the final acceptance of the TSXV.

The net proceeds from the Offering are intended for exploration and development of the Company's Escalones and Zonia assets, and general working capital.

The Company further announces that, subject to TSX Venture Exchange acceptance, it has entered into an agreement with Paradox Public Relations Inc. ("Paradox") of Montreal, Quebec, whereby Paradox will provide investor relations services to the Company. The term of the agreement is for 36 months, effective July 21, 2022, and may be terminated at any time, by either party, with 30 days written notice. Paradox will receive a monthly fee of CAD $10,000 and, pursuant to the Company's stock option plan and TSX Venture Exchange Policy 3.4, will be granted 1,000,000 options with quarterly vesting provisions over 12 months and, an expiry date of 36 months from the date of grant. Paradox is at arm's length to Company.

This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and each has additional copper porphyry targets with exciting potential to expand the resource base.

The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.

Detailed information is available at World Copper's website at www.worldcopperltd.com, and for general Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.

The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource. In addition, three significant hydrothermal alteration zones, each measuring between 2,000 m and 3,000m in diameter, lie 8-10 km to the north of the main discovery.

Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves. Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated based on limited geological evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.

About the Escalones February 2022 PEA Study

On February 15, 2022, the Company announced the following outstanding results of the Preliminary Economic Assessment ("PEA") for the Escalones project:

The exceptional results of the Escalones PEA confirm what we at World Copper have always believed - that Escalones has the potential to be one of the most impressive copper properties in South America. Escalones now joins a peer group of large-scale, study-backed, development stage assets. Escalones has several attributes that make it attractive for development including robust economics, strong value metrics and the potential of rapid returns for a comparably low capital investment. The results of the PEA, combined with Escalones' large land package and resource expansion potential, make it a truly outstanding project.

The Preliminary Economic Assessment is considered preliminary in nature and includes Inferred Mineral Resources that are considered too speculative, geologically, to have the economic considerations applied that would allow classification as Mineral Reserves. There is no certainty that the results of the PEA will be realized. All values are reported in US dollars unless otherwise noted.

The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and '70s. The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.

On Behalf of the Board of Directors of

For further information, please contact:

Nolan Peterson, Henk van Alphen or Michael Pound Phone: 604-638-3287 E-mail: info@worldcopperltd.com

Nancy Thompson, Vorticom, Inc. Phone: 212-532-2208 or 917-371-4053

John Liviakis, Liviakis Financial Communications Inc. 415-389-4670

Twitter: https://twitter.com/WorldCopperLtd Facebook: https://www.facebook.com/WorldCopperLtd LinkedIn: https://www.linkedin.com/company/worldcopperltd

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the Company's expectation that it and Cardero will be able to complete the Proposed Transaction, including entering into a Definitive Agreement, the closing and amount of the Private Placement, that Zonia can beadvanced utilizing low-cost open pit mining and heap leach, the results of the PEA, including, without limitation the NPV6%, IRR, estimated costs, average rate of production, the anticipated exploration program results from exploration activities and the anticipated business plans and timing of future activities of the Company, including the timing for the closing of the Proposed Transaction, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that it will be able to negotiate and enter into a Definitive Agreement, and that it will obtain TSXV acceptance and the required corporate approvals of the Proposed Transaction and the Consolidation, that there will be investor interest in the Private Placement, market fundamentals will result in sustained copper and precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company's projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of such projects and the ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, requirements for additional capital, actual results of exploration activities, including on the Escalones Project and the Cristal Project, the reasonability of the economic assumptions at the basis of the results of the PEA for the Zonia Project, the estimation or realization of mineral reserves and mineral resources, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Private Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including acceptance of the Proposed Transaction, the Private Placement and the Consolidation by the TSXV), permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the timing and possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**

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Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to report that on July 20, 2022, the Second Environmental Court in Chile revised the preliminary injunction issued on March 18, 2022 that suspended drilling. The Court decided that drilling can continue, with certain restrictions, at the Vizcachitas Copper Project under the Company's environmental license.

Following the injunction, the Company prepared and filed with the Environmental Court several scientific reports, technical studies and legal opinions showing that the drilling program is compatible with the protection of the Andean Cat and the overall environment.

The Court decision authorized the Company to continue drilling at the Vizcachitas project, with certain operational conditions, including a restricted drilling plan for the first 12 months proposed by the Company. This plan will allow the Company to pursue its original program of illuminating and defining extensions of the mineralized body which still remains open.

Los Andes reiterates its full commitment to complying with all its environmental obligations and continues to engage with all interested parties in a climate of mutual respect.

The Company will continue to expand its previous successful drill program while pursuing the larger goal of completing a Prefeasibility Study in Q4 2022.

About Los Andes Copper Ltd.

Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to the technical report dated June 13, 2019, with an effective date of May 10, 2019 and titled "Preliminary Economic Assessment of the Vizcachitas Project", prepared by Tetra Tech.

The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

Qualified Person ("QP") and Quality Control and Assurance

Antony Amberg CGeol FGS, the Company's Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release. The QP has validated the data by, supervising the sample collection process, through chain of custody records and inspecting the detailed technical data and quality control and assurance information.

For more information please contact:

R. Michael Jones, P.Eng., CEO rmj@losandescopper.com Tel: +44 203 4407982

BlytheRay, Financial PR Megan Ray Rachael Brooks Tel: +44 207 138 3203

E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com Follow us on Twitter @LosAndesCopper Follow us on LinkedIn Los Andes Copper Ltd

Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, Spinnaker's ability to raise capital, target and attract institutional and retail investors and focus on developing and expanding the network of investors, analysts and financial intermediaries who are interested in Los Andes. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131524

News Provided by Newsfile via QuoteMedia

TSXV: LMS) OTCQB: LMSQF) is pleased to announce results of a recently completed rock sampling program at its 100% own Auquis project (the " Property ") located in the Coastal Copper Belt, Peru. A total of 234 rock chip samples were collected to follow up on anomalous soil samples collected earlier in the year (see NR22-06, April 2022). Rock chip sampling has highlighted copper grades ranging from 22 ppm to 12.8% copper across the Property ( Figures 1 and 2 ).

Figure 1. Map highlighting areas where recent rock chip sampling was completed over several peak soil anomalies at Auquis Property, Coastal Copper Belt, Peru. Area defined by red square shows very consistent copper mineralization over 1km x 1km extent is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/22d3ff98-e59e-49c3-a351-7ed150fd0405

Keith Henderson, CEO, commented, "Our recent follow-up sampling program has outlined a large 1km x 1km area of consistent mineralization where 101 samples returned copper values of up to 2.37% copper and 236 ppm molybdenum, with a mean value of 0.13% copper and 6.4 ppm molybdenum. We are very excited about these initial results, with many areas of this large 4,000 hectare property still unsampled."

This portion of the Coastal Copper Belt is the focus of attention for several major mining companies, such as Newmont and Vale.

Figure 2. Location of the Auquis Property in Peru and within the Coastal Copper belt is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3cc93fb3-062a-4705-9791-5d199bef54f5

Recently completed rock chip sampling was focused in the highly anomalous areas identified in a previous soil sampling survey. A total of 234 rock chip samples were collected with values up to 4.74% copper and 236 ppm molybdenum. Mean values from the 234 samples are 0.10% copper and 5ppm molybdenum. These results are very encouraging as regional results but looking more closely at the southeastern portion of the Property, mineralization is seen to be very consistent with highly anomalous values of copper and molybdenum. In this large 1km x 1km area, 101 samples returned values with a mean of 0.13% copper and 6.4 ppm molybdenum. This area is characterized by multiple phases of intrusive rocks with porphyritic textures and copper oxide mineralization.

Recent sampling was focused on testing existing soil anomalies. Other areas of the Property are still open for exploration, and the Company will extend the sampling program. Next steps include a property-wide rock chip sampling and geological mapping program in the next months to define the area for an initial ground magnetic survey.

The work program at Auquis was designed and supervised by Eduardo Leon, the Company's Exploration Manager, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously prepare and track samples which are security sealed and shipped to the ALS laboratory in Lima. Samples used for the results described herein are prepared and analyzed by multi-element analysis using an inductively coupled mass spectrometer in compliance with industry standards.

The technical content of this release has been approved for disclosure by Keith J. Henderson P.Geo, a Qualified Person as defined by NI 43-101 and the Company's CEO. Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company.

The Company has engaged BTV- Business Television ("BTV") to improve exposure to Canadian capital markets. The engagement is for an initial period of three months, renewable for an additional three months. As consideration, the Company will pay a total fee of $31,850. BTV produces a half-hour weekly investment show, profiles emerging companies across Canada and the US to bring investors information for their portfolio. On air for 20+years, BTV is broadcast nationally on BNN Bloomberg, FOX Business News, BizTV. With Hosts, Taylor Thoen and Jessica Katrichak , BTV interviews top analysts plus features companies at their location for an insightful business perspective. Services provided under the contract with Latin Metals include digital marketing on well-known financial web platforms BNN Bloomberg, Forbes, Yahoo Finance, Seeking Alpha, Financial Post, and Market Watch), Facebook advert campaign, mobile optimized banners, and TV advert for broadcast on BNN Bloomberg. To the Company's knowledge, BTV does not have any direct interest in the Company or its securities.

The Company has also engaged OTCWagon for a one-month market awareness program. As consideration, the Company will pay a total fee of $5,000. To the Company's knowledge, OTCWagon does not have any direct interest in the Company or its securities.

Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration.

On Behalf of the Board of Directors of

For further details on the Company readers are referred to the Company's web site ( www.latin-metals.com ) and its Canadian regulatory filings on SEDAR at www.sedar.com .

For further information, please contact:

Suite 890 999 West Hastings Street Vancouver, BC, V6C 2W2

Phone: 604-638-3456 E-mail: info@latin-metals.com

Neither 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 news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the negotiation of the Option Agreements and exercise of the Option for the Properties, the anticipated content, commencement, timing and cost of exploration programs in respect of the Properties and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves on the Properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company's Argentine projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company's ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Properties, including the geological mapping, prospecting and sampling programs being proposed for the Properties (the "Programs"), actual results of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX-V acceptance for filing of the Option Agreements, any current or future property acquisitions, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the Company's latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com .

Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein .

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