Emerita Enters Into Agreements to Acquire the Salobro Zinc Project in Brazil

Emerita Resources Corp.

TORONTO, ONTARIO--(Marketwired - July 14, 2017) - Emerita Resources Corp. (the "Company" or "Emerita") (TSX VENTURE:EMO) is pleased to announce that it has entered into a definitive agreement (the "Definitive Agreement") with Vale S.A. ("Vale") and IMS Engenharia Mineral Ltda. ("IMS") pursuant to which Emerita has agreed to acquire the Salobro zinc project (the "Salobro Project") located in the Municipality of Porteinha, Minas Gerais State, Brazil. In connection with entering into the Definitive Agreement, Emerita and IMS have entered into a binding letter of intent ("LOI") pursuant to which Emerita has agreed to incorporate and organize a Brazilian subsidiary ("PurchaseCo") to formally acquire the Salobro Project from IMS. Emerita will initially own 75% of PurchaseCo with an exclusive right to acquire the remaining 25% interest of PurchaseCo from IMS at its sole option (the transactions contemplated in the LOI together with those in the Definitive Agreement are hereinafter collectively referred to as the "Transaction"). The Definitive Agreement and the LOI are described in greater detail below.