Hole APC143-D2, the deepest and northeasternmost hole drilled to date in the Ramp Zone, increases the mineralized envelope to 315 metres along strike by 300 metres vertically — and remains open in all directions. TORONTO, Dec. 16, 2025 /PRNewswire/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce assay results for two orthogonally directed diamond drill holes designed to continue expanding the high-grade Ramp Zone ("Ramp") along strike northwards and at ...

Core Insights - Collective Mining Ltd. has announced significant assay results from seven diamond drill holes that have expanded the Apollo system by 450 metres to the north, indicating a large-scale, high-grade mineralization enriched in gold, silver, copper, and tungsten [1][6][7] - The Apollo system is part of the flagship Guayabales Project in Caldas, Colombia, which is characterized by multiple targets and rich infrastructure [1][15] Exploration and Drilling Activities - The company has completed 153,000 metres of diamond drilling across its Guayabales and San Antonio projects, with 106,500 metres specifically at Apollo [2] - An aggressive drilling program is planned for 2026, targeting up to 100,000 metres of additional drilling, supported by US$135 million in cash as of December 1, 2025 [3][2] New Discoveries - The discovery of the Hanging Wall Vein Zone during directional drilling has revealed thick zones of gold-rich sheeted veinlets, which have the potential to significantly increase the overall mineral inventory of the Apollo system [4][6] - The Hanging Wall Vein Zone has expanded the mineralized footprint of Apollo, increasing the northeast strike length by 43% to approximately 1,050 metres [7] Notable Assay Results - Significant intercepts from the Hanging Wall Vein Zone include 61.30 metres at 1.78 g/t gold equivalent and 130.40 metres at 1.15 g/t gold equivalent [6][12] - The Northern Expansion Zone has also shown notable results, including 91.15 metres at 2.31 g/t gold equivalent and 120.35 metres at 1.35 g/t gold equivalent [9][12] Future Plans - The company plans to initiate a follow-up drilling campaign targeting the Hanging Wall Vein Zone in early Q1 2026 to further delineate this new discovery [8] - The management is optimistic about the potential for significant resource expansion at Apollo, with targeted drilling planned for the newly discovered zones [4][8]

Core Insights - Collective Mining Ltd. has confirmed broad and continuous intervals of gold mineralization in the Ramp Zone, extending it to 300 meters of strike by 270 meters vertical, remaining open in all directions [1][2] Company Overview - Collective Mining Ltd. is focused on gold, silver, copper, and tungsten exploration, with its flagship project being the Guayabales Project in Caldas, Colombia [2][3] - The company has completed 150,000 meters of diamond drilling across its projects, including 105,000 meters at the Apollo system [2] Recent Drilling Results - Hole APC143-D1 intersected 76.10 meters at 3.26 g/t gold and 4 g/t silver, including 23.35 meters at 8.24 g/t gold and 8 g/t silver, expanding the Ramp Zone's dimensions [1][2] - Hole APC140-D2 extended the Ramp Zone by 50 meters to the northwest, with results of 55.10 meters at 3.06 g/t gold and 7 g/t silver, including 16.40 meters at 8.44 g/t gold and 19 g/t silver [1][2] Future Exploration Plans - The company plans to accelerate exploration efforts with additional rigs on site and pending assays from two holes that have significant visible gold [1][2] - An aggressive drilling program targeting up to 100,000 meters is planned for 2026, supported by US$135 million in cash [2]

Core Viewpoint - Collective Mining Ltd. is actively engaged in a multi-hole drill program targeting high-grade tungsten-rich zones at the Apollo system, which is part of the Guayabales Project in Caldas, Colombia. The Apollo system is noted for its significant mineralization, including gold, silver, copper, and tungsten, with drilling revealing continuous mineralization extending over 1,300 vertical meters [1][3]. Drilling and Mineralization - The ongoing drilling program has completed 143,500 meters across the Guayabales and San Antonio projects, with 103,000 meters specifically at the Apollo system. Ten drilling rigs are currently operational, and multiple high-priority holes are pending assay results [3][5]. - Assay results from previous drill holes into the tungsten-rich zones have shown promising grades, with tungsten prices reaching an all-time high of US$703 per metric tonne unit, indicating strong market demand [4][3]. Financial Position - As of October 20, 2025, the company has US$145 million in cash, which fully funds its aggressive drilling program planned for 2026, targeting up to 100,000 meters of additional drilling [5]. Project Overview - The Guayabales Project, anchored by the Apollo system, is characterized as a district-scale, multi-target project with rich infrastructure. The company aims to expand the high-grade Ramp Zone and explore new targets within the property [8][9]. - The San Antonio Project is also undergoing its largest drilling campaign in history, focusing on new discoveries and expanding the porphyry system at the Pound target, which is strategically located near the Guayabales Project [9]. Management and Ownership - Management, insiders, and a strategic investor collectively own 45.3% of the outstanding shares, aligning their interests with those of shareholders [10].

Core Insights - Collective Mining Ltd. has reported significant visual mineralization from new drill cores at the Guayabales Project's Ramp Zone and the San Antonio Project's Pound target, indicating potential for substantial mineral deposits [1][3][4] - The company is operating ten diamond drill rigs and is on track to complete approximately 60,000 meters of drilling in 2025 [1][4] - Following a recent financing round, the company has approximately US$145 million in its treasury, enabling it to advance its business plan through at least the end of 2027 [2][4] Guayabales Project - Six rigs are currently operational at the Guayabales Project, focusing on high-grade tungsten, gold, silver, and copper mineralization [4][10] - The recently completed drill hole APC143-D1 intersected significant mineralization at a depth of approximately 1,370 meters, marking the deepest drilling at the Apollo system to date [4][5] - Assay results for the Ramp Zone are expected within the next 4-6 weeks [5] San Antonio Project - Approximately 13,000 meters of diamond drilling has been completed at the San Antonio Project, with 9,500 meters focused on the Pound target [7][11] - Drill hole SAC-24 has shown strong visual mineralization starting at a shallow depth, with significant mineralization logged over a length of 225 meters [12] - The Pound target is characterized as a shallow porphyry-related, intermediate sulphidation, sheeted veinlet system, covering over 500 meters of strike length [12] Future Plans - The company plans to expedite drilling at both the Ramp Zone and the San Antonio Project by securing two additional deep capacity rigs, bringing the total to four [3][12] - Exploration at the Pound target continues to expand, with ongoing drilling expected to reveal a potentially large mineralized system [12] - Assay results for the San Antonio Project are anticipated in November 2025 [12]

Financial Statements and Reporting - The Corporation's audited consolidated financial statements for the years ended December 31, 2024 and 2023 are included in the Financial Statements[18]. - The Corporation's financial reporting adheres to IFRS Accounting Standards as issued by the International Accounting Standards Board[17]. - The Financial Statements present fairly the financial position of the Corporation on a consolidated basis and comply with IFRS[59]. - The Corporation has no off-balance sheet transactions or undisclosed liabilities that would have a Material Adverse Effect[61][62]. - The Corporation's Auditor is independent and there have been no reportable events in the last three years[63]. - The Corporation maintains a system of internal control over financial reporting that complies with NI 52-109 and applicable U.S. Securities Laws[64]. - There have been no changes in the Corporation's internal control over financial reporting that materially affect its reliability since the last audited financial statements[65]. - All tax returns and payments required by law have been filed or made, with no material adverse effects noted, and all taxes have been paid or accrued in the Financial Statements[87]. - The Corporation has not completed any significant acquisitions nor proposed any probable acquisitions that would require additional financial statements[89]. - The Corporation has not declared or paid any dividends in the previous 12 months, nor are there restrictions on declaring dividends[94]. Projects and Operations - The Guayabales Project is a mineral exploration project located in the Caldas department of Colombia, as detailed in the Guayabales Technical Report[17]. - The San Antonio Project is another mineral exploration project in the historical gold district of Caldas, Colombia, with a technical report effective as of December 31, 2020[20]. - The Corporation has all necessary rights, including surface rights and water rights, to conduct operations at the Guayabales Project[70]. - All required assessments for maintaining interest in the Guayabales Project have been completed, and the Corporation is in compliance with applicable laws[71]. - The Corporation has obtained all Required Permits necessary for its operations, which are valid and in full force[72]. - There are no known claims regarding native or indigenous rights affecting the Corporation's properties[73]. - The Corporation is in compliance with all Environmental Laws and has not received any notices of non-compliance[75]. - The Corporation maintains insurance coverage customary for its business, and all policies are in good standing[76]. - The Corporation and its Subsidiaries hold valid and marketable title to all Business Assets, free of Liens that materially affect their value[69]. Securities Offering and Underwriting - The Offering Documents consist of the Prospectus and the U.S. Private Placement Memorandum[19]. - The Corporation will prepare and file the Prospectus Supplement by 11:00 p.m. (Toronto time) on October 3, 2025[3.1]. - The Underwriters will use their reasonable best efforts to complete the distribution of the Offered Securities as promptly as possible[4.2]. - The Corporation will provide a "long form" comfort letter from its Auditor relating to the verification of financial and accounting information[5.1(c)]. - The Corporation will promptly notify the Underwriters of any material changes or facts that may affect the Offering Documents[6.1]. - The Corporation will cooperate with the Underwriters to maintain qualifications for the distribution of the Offered Securities under Canadian Securities Laws[34]. - The Underwriters will not solicit offers to purchase the Offered Securities in a manner that requires registration under U.S. Securities Laws[4.1]. - The Corporation will ensure that the Offered Securities are freely tradable in the Qualifying Jurisdictions[3.3]. - The Underwriters will provide the Corporation with information regarding proceeds realized from the distribution of the Offered Securities[4.2]. - The Corporation will prepare and file revised marketing materials as required under Canadian Securities Laws[4.6]. - The Underwriters will cease distribution of the Offered Securities upon receiving notification of any material change in the Offering Documents[4.3]. - The Corporation has 84,857,276 Common Shares issued and outstanding as of October 3, 2025[42]. - The Corporation is a reporting issuer in all provinces and territories of Canada except Québec and is not in default of any Canadian Securities Laws[48]. - The Corporation is eligible to file a short form prospectus in all Qualifying Jurisdictions under Canadian Securities Laws[90]. - The Corporation has complied with all relevant statutory and regulatory requirements prior to the Closing Time in connection with the Offering[91]. - The Corporation has not made any material loans to or guaranteed obligations of any person, except as disclosed in the Financial Statements[92]. - The Corporation is in compliance with the policies, rules, and regulations of the TSX and NYSE, with no actions taken that would result in delisting or suspension[101]. - The Corporation will have made all necessary consents and approvals required under Securities Laws prior to the Closing Time[108]. - The Underwriters will offer and sell the Offered Securities only in Qualifying Jurisdictions where they may lawfully be offered for sale[113]. - The Initial Shares and Over-Allotment Shares have been conditionally listed or approved for listing on the TSX and NYSE[121]. - The Underwriters will provide a breakdown of the number of Offered Securities distributed within 30 days after the Closing Date[116]. - The Over-Allotment Option may be exercised in whole or in part within 30 days following the Closing Date[129]. - The Corporation must comply with all covenants and obligations under the Agreement prior to the Closing Time[121]. - The Underwriters will receive a customary and favorable legal opinion regarding the offer and sale of the Initial Shares and Over-Allotment Shares in the United States[122]. - The Underwriters will not solicit offers to sell the Offered Securities in jurisdictions other than the Qualifying Jurisdictions[115]. - The Corporation will deliver evidence of approval for the listing of the Initial Shares and Over-Allotment Shares on the TSX and NYSE[126]. - The Underwriters will receive certificates from the Corporation's senior officers certifying compliance with the Agreement[125]. - The Corporation will make appropriate adjustments to the Offering Price and the number of Over-Allotment Shares if there are changes to its Common Shares during the Over-Allotment Option period[133]. - The Corporation agrees to indemnify the Underwriters and their affiliates against any losses, claims, or expenses incurred in relation to professional services rendered under this Agreement[135]. - Indemnification will not be available for losses determined by a court to have resulted solely from the Indemnified Party's gross negligence, fraud, or willful misconduct[136]. - The Corporation will undertake the investigation and defense of any claims against an Indemnified Party, including the payment of all expenses[137]. - The Corporation will contribute to the amount paid by Indemnified Parties if indemnification is unavailable or insufficient, reflecting the relative benefits and fault of the parties involved[138]. - The Non-Canadian Underwriter agrees to indemnify Indemnified Parties for claims based on misrepresentation in the Prospectus, up to the total public offering price of the Offered Securities[139]. - The Corporation and Underwriters will use commercially reasonable efforts to comply with the conditions of the Agreement[142]. - The Corporation will pay Underwriters a cash fee of 4.50% on gross proceeds from the sale of Initial Shares, and 2.25% for sales to President's List Purchasers, applicable to a maximum of $500,000 in gross proceeds[15]. - Underwriters' Expenses incurred by the Underwriters will be paid by the Corporation, including a maximum of $125,000 for counsel fees, regardless of whether the Offering is completed[15]. - The obligation of the Underwriters to purchase Offered Securities is several, with BMO Nesbitt Burns Inc. responsible for 36.50%, Scotia Capital Inc. for 31.00%, and other Underwriters for the remaining percentages[18]. - If a Refusing Underwriter does not complete the purchase of Offered Securities, the other Underwriters are obligated to purchase the Default Securities if they do not exceed 10% of the total[18]. - The Corporation is liable for all Underwriters' Expenses even if the Offering is not completed due to its own failure to comply with the Agreement[15]. - The Agreement may be terminated by Underwriters if there is any material change or undisclosed material fact that could significantly affect the market price of the Corporation's securities[17]. - The Corporation acknowledges that the Underwriters owe no fiduciary duties and have acted at arm's length in connection with the Offering[20]. - The Underwriters may engage in market stabilization activities to maintain the market price of the Common Shares as permitted by Canadian Securities Laws[20]. - The Corporation must reimburse Underwriters for all expenses if the Offering is not completed due to its own non-compliance[15]. - The Agreement is governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein[20]. Compliance and Legal Matters - The Corporation has complied with Canadian Securities Laws regarding Employee Plans, ensuring all plans are maintained in accordance with applicable statutes and regulations[86]. - There are no pending legal proceedings that would have a Material Adverse Effect on the Corporation[80]. - The Corporation is a Foreign Issuer and has no Substantial U.S. Market Interest regarding the Offered Securities[182]. - The Corporation has not engaged in any Directed Selling Efforts and will not take actions that violate Regulation M under the U.S. Exchange Act[182]. - The Corporation will not offer or sell any securities in a manner that would integrate with the offer and sale of the Offered Securities within 30 days before or after the Offering[182]. - The Corporation is not an "investment company" as defined by the United States Investment Company Act of 1940[183]. - The Corporation will prepare and file any required forms or notices under the U.S. Securities Act in connection with the sale of the Offered Securities[184]. - The Corporation has not had the registration of a class of securities revoked by the SEC under Section 12(j) of the U.S. Exchange Act[184]. - The Underwriters acknowledge that the Offered Securities have not been registered under the U.S. Securities Act and may not be offered or sold in the U.S. except in exempt transactions[184]. - All offers and sales of Offered Securities in the U.S. will be made directly or through the Underwriter's U.S. Affiliate in compliance with applicable broker-dealer requirements[184]. - The Corporation will notify the Underwriters of any Disqualification Event relating to any Issuer Covered Person prior to the Closing Date[183]. - The Corporation will provide information to U.S. purchasers if it determines it is a "passive foreign investment company" during any calendar year following their purchase[183]. - The private placement of Offered Securities by Collective Mining Ltd. is conducted under the underwriting agreement dated October 3, 2025[188]. - Each offeree and purchaser of Offered Securities in the U.S. was provided with a copy of the U.S. Private Placement Memorandum prior to the sale[188]. - The U.S. Affiliate is a registered broker-dealer with the SEC and a member of FINRA, ensuring compliance with U.S. broker-dealer requirements[188]. - No General Solicitation or General Advertising was used in connection with the offer or sale of the Offered Securities in the U.S.[188]. - Each U.S. Purchaser executed a Subscription Agreement for U.S. Accredited Investors as part of the sale process[188]. - The offering of Offered Securities in the U.S. was conducted in accordance with the Underwriting Agreement, including Schedule A[190]. - None of the Dealer Covered Persons is subject to any Disqualification Event related to the Regulation D Securities offered[190]. - The Corporation and its U.S. Affiliate had reasonable grounds to believe that each offeree was a U.S. Accredited Investor or a Qualified Institutional Buyer[188]. - The Offered Securities are classified as "restricted securities" under Rule 144(a)(3) of the U.S. Securities Act[186]. - The Corporation will not engage in any actions that would violate Regulation M under the U.S. Exchange Act in connection with the offer and sale of the Offered Securities[190].

Core Viewpoint - Collective Mining Ltd. has announced an increase in its bought deal offering to 6,600,000 common shares at a price of C$19.00 per share, aiming for gross proceeds of approximately C$125 million, with potential total proceeds of C$144 million if the over-allotment option is fully exercised [1][2] Group 1: Offering Details - The offering consists of 6,600,000 common shares priced at C$19.00 each, with gross proceeds expected to be around C$125 million [1] - An over-allotment option allows underwriters to purchase an additional 990,000 common shares within 30 days, potentially raising total gross proceeds to approximately C$144 million if fully exercised [1] - The offering is expected to close on or about October 8, 2025, pending necessary regulatory approvals [1] Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to fund ongoing work programs at the Guayabales Project, explore other development opportunities, and for general corporate purposes [2] Group 3: Regulatory and Offering Process - The common shares will be offered through a prospectus supplement to the company's base shelf prospectus, which will be filed with Canadian securities regulators [3] - The offering will also be available in the United States through a private placement under the U.S. Securities Act exemptions [3] Group 4: Company Background - Collective Mining Ltd. is a mining exploration company focused on gold, silver, copper, and tungsten, with projects located in Caldas, Colombia [7] - The flagship Guayabales Project features the Apollo system, which is characterized by large-scale, high-grade mineralization [8] - The company is conducting its largest drilling campaign in history at the San Antonio Project, aiming to expand upon new discoveries [9]

Core Viewpoint - Collective Mining Ltd. has announced a bought deal offering of 5,270,000 common shares at C$19.00 per share, aiming for gross proceeds of approximately C$100 million, with a potential increase to C$115 million if the over-allotment option is fully exercised [1][2] Group 1: Offering Details - The offering is expected to close on or about October 8, 2025, pending necessary regulatory approvals [1] - The underwriters have an over-allotment option to purchase an additional 790,500 common shares for 30 days post-closing [1] - The common shares will be offered through a prospectus supplement and private placements in Canada, the U.S., and other jurisdictions [3] Group 2: Use of Proceeds - The net proceeds from the offering will be used to fund ongoing work programs at the Guayabales Project, explore other opportunities, and for general corporate purposes [2] Group 3: Company Overview - Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects in Caldas, Colombia, and has options to acquire 100% interest in two projects within an established mining camp [7] - The flagship Guayabales Project features the Apollo system, which is characterized by large-scale, bulk-tonnage, and high-grade mineralization [8] - The company is conducting its largest drilling campaign in history at the San Antonio Project, located near the Guayabales Project, to seek new discoveries [9] Group 4: Shareholder Alignment - Management, insiders, and a strategic investor own 44.5% of the outstanding shares, indicating strong alignment with shareholders [10]

Core Insights - Collective Mining Ltd. has announced positive assay results from two diamond drill holes aimed at expanding the high-grade Ramp Zone within the Apollo system, which is part of the Guayabales Project in Caldas, Colombia [1][5][8] Company Overview - Collective Mining Ltd. is well-funded with approximately US$70.6 million in treasury as of the end of Q2 2025 and is conducting a fully funded 70,000 metre drill program for 2025 [2][3] - The company is currently operating ten drill rigs, with seven at the Guayabales Project and three at the San Antonio Project [2] Drilling Results - A total of approximately 137,000 metres of diamond drilling has been completed at the Guayabales Project, with 97,000 metres specifically at the Apollo system [3] - The two new drill holes, APC103-D6 and APC106-D2, have intersected significant gold and silver mineralization, with APC103-D6 reporting 50.50 metres at 5.66 g/t gold and 13 g/t silver, and APC106-D2 reporting 70 metres at 2.00 g/t gold and 5 g/t silver [5][9][11] - The Ramp Zone has been defined over an area measuring 275 metres of strike by 200 metres vertical and remains open in all directions, with the total vertical dimension traced from surface over 1,300 metres [5][8] Comparison with Neighboring Deposits - The Ramp Zone shares similarities with Aris Mining's Marmato Deeps deposit, located 1.75 kilometres southeast, which hosts a significant resource estimate of 3.76 million ounces of gold [8][10] - The company believes that the higher gold grades observed in the Ramp Zone compared to Marmato Deeps may be attributed to the mineralization being hosted within a breccia, which has more porosity for metal-bearing fluids [10][12] Future Plans - The current drilling program aims to extend the Ramp Zone by at least another 200 metres both vertically and laterally along strike [5][7] - The company has also acquired additional surface and mineral rights within and surrounding the Guayabales Project, which are crucial for planned infrastructure [13]

Core Insights - The company is currently operating eleven drill rigs as part of a fully funded 70,000-metre drill program for 2025, with three rigs at the San Antonio Project and eight at the Guayabales Project [1] - Drilling at the Guayabales Project aims to define shallow mineralization, expand high-grade sub-zones, and test new targets, with two deep capacity drill rigs focused on the Apollo system [1][3] - The San Antonio Project has seen approximately 10,000 metres of diamond drilling completed, with significant mineralization identified at the Pound target [2][4] Company Developments - Executive Chairman Ari Sussman expressed confidence in the potential of the San Antonio Project, highlighting its proximity to infrastructure and the absence of nearby communities [3] - The company has upgraded all rigs at San Antonio to optimal performance parameters due to previous drilling limitations [5] - The results from drill holes SAC-15 and SAC-18 indicate strong porphyry mineralization, with SAC-18 averaging 1.88 g/t AuEq over 172.40 metres [6][9] Technical Details - The assay results from SAC-15 show 154.20 metres averaging 1.12 g/t AuEq, including higher density mineralized sub-zones [5][8] - The company has identified three mineralized phases at the San Antonio Project, with Phase 1 covering a large area and hosting low-grade gold, while Phases 2 and 3 contain higher-grade mineralization [8] - The company plans to drill test multiple targets within the San Antonio Project in 2025, leveraging its close proximity to the Guayabales Project [14]