Company Overview - Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects located in Caldas, Colombia, and has options to acquire 100% interests in two projects within an established mining camp that includes ten fully permitted and operating mines [4] - The company was founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value [4] Financial Reporting - Collective Mining has filed its SEC Annual Report on Form 40-F for the year ended December 31, 2024, which includes the Annual Information Form, audited Financial Statements, and Management's Discussion & Analysis [1] - Shareholders can request a hard copy of the complete audited Financial Statements for the year ended December 31, 2024, free of charge [2] Key Projects - The flagship project, Guayabales, is anchored by the Apollo system, which hosts a large-scale, bulk-tonnage, and high-grade gold-silver-copper-tungsten resource [5] - The company's objectives include improving the overall grade of the Apollo system, expanding the Apollo system along strike, and drilling newly generated targets such as Tower and X [5] Shareholder Alignment - Management and insiders own approximately 33.4% of the outstanding shares of the company, indicating alignment with shareholder interests [6] Corporate Information - Collective Mining is listed on the NYSE American and TSX under the trading symbol "CNL" and on the FSE under the trading symbol "GG1" [6]

Core Viewpoint - Collective Mining Ltd. has successfully closed an investment from Agnico Eagle Mines Limited, raising approximately C$52.1 million through the issuance of common shares and the exercise of warrants, increasing Agnico Eagle's ownership to about 14.99% [1][2]. Group 1: Investment Details - Agnico Eagle subscribed for 4,741,984 common shares at C$11.00 per share, totaling approximately C$52.1 million [1]. - Concurrently, Agnico Eagle exercised warrants to acquire an additional 2,250,000 shares at C$5.01 per share, amounting to C$11,272,500 [1]. - The total investment from Agnico Eagle, including both the share subscription and warrant exercise, reflects a significant commitment to Collective Mining [1]. Group 2: Use of Proceeds - Proceeds from the offering and warrant exercise are intended for exploration activities on the company's properties in Colombia and for general working capital purposes [2]. Group 3: Investor Rights Agreement - An Investor Rights Agreement was established, granting Agnico Eagle rights to maintain its ownership percentage and nominate board members, which was amended to reflect the increased ownership level [3]. - The ownership interest ceiling for participation rights was raised from 9.99% to 14.99% in the amended agreement [3]. Group 4: Company Overview - Collective Mining is focused on gold, silver, copper, and tungsten exploration in Colombia, with options to acquire 100% interests in two projects within an established mining camp [6]. - The flagship project, Guayabales, features the Apollo system, which is characterized by large-scale, high-grade mineralization [7]. - Management insiders hold approximately 33.4% of the outstanding shares, aligning their interests with those of shareholders [8].

Core Viewpoint - Collective Mining Ltd. has entered into an agreement with Agnico Eagle Mines Limited for a subscription of 4,741,984 common shares at C$11.00 per share, with total gross proceeds expected to be approximately $63.4 million from the offering and the exercise of existing warrants [1][2]. Group 1: Financial Details - Agnico Eagle will acquire 4,741,984 shares at C$11.00 per share, and will also exercise warrants to acquire an additional 2,250,000 shares at C$5.01 per share [1]. - The total gross proceeds from the offering and the exercise of the warrants will be approximately $63.4 million [1]. - Following the closing of the offering, Agnico Eagle's ownership interest in Collective Mining is expected to increase to approximately 14.99% [1]. Group 2: Use of Proceeds - The proceeds from the offering and the exercise of the warrants will be utilized for exploration on the company's properties in Colombia and for general working capital purposes [2]. - The company plans to continue its drill program at the Guayabales Project, with results expected to be released in the near term [2]. Group 3: Company Background - Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects located in Caldas, Colombia [4]. - The company's flagship project, Guayabales, is anchored by the Apollo system, which is characterized by large-scale, bulk-tonnage, and high-grade mineralization [5]. - Management and insiders own approximately 36% of the outstanding shares, indicating alignment with shareholders [6].

Core Insights - The company has made a significant discovery in the Ramp Zone, with an internal 3D model developed to explain its formation, suggesting potential for extensive mineralization beyond the current breccia body at Apollo [1][3] - A fully funded 60,000-metre drill program for 2025 is underway, with six drill rigs currently operational, targeting multiple projects including Apollo, Tower, and San Antonio [1][4] - The Ramp Zone has been expanded to dimensions of at least 75 metres of strike, 480 metres in width, and 150 metres vertically, remaining open in all directions [3] Drilling Program Objectives - The 2025 drilling objectives include improving the grade profile of the Apollo system, expanding the dimensions of the Ramp Zone, and testing the northern extension potential at shallower elevations [2][4] - The company aims to systematically drill test newly modeled high-grade sub-zones within the top 1,000 vertical metres to enhance the overall grade of the Apollo system [4][8] Assay Results - Drill hole APC105-D1 reported the best results to date in the Ramp Zone, with 75.80 metres at 8.01 g/t gold equivalent, including 21.00 metres at 24.16 g/t gold equivalent [4][5] - Drill hole APC103-D3 showed significant mineralization with 20.30 metres at 6.68 g/t gold equivalent from the Ramp Zone [4][5] Company Overview - Collective Mining Ltd. is focused on gold, silver, copper, and tungsten exploration in Caldas, Colombia, with options to acquire 100% interests in two projects within an established mining camp [7][8] - The flagship project, Guayabales, is anchored by the Apollo system, which is characterized by large-scale, bulk-tonnage, and high-grade mineralization [8][9] Shareholder Alignment - Management, insiders, and a strategic investor collectively own approximately 44.5% of the company's outstanding shares, indicating strong alignment with shareholder interests [9]

Core Insights - The company is executing a fully funded 60,000-metre drill program for 2025, currently operating six drill rigs with plans for a seventh rig to commence drilling in March [1] - The Guayabales Project has seen approximately 108,000 metres of diamond drilling completed, with 72,500 metres specifically at the Apollo system [1] - The Apollo system is highlighted as a significant area of interest, with ongoing drilling expected to enhance the grade of mineralization [2] Drilling Program Details - The 2025 drilling objectives include targeting high-grade sub-zone models, expanding the Ramp Zone, and testing northern extensions of the Apollo system [4][9] - Drill hole APC104-D5 reported a high-grade intercept of 497.35 metres at 3.01 g/t gold equivalent, with a notable section of 106.35 metres at 9.05 g/t gold equivalent [5][6] - The highest-grade intercept ever drilled at Apollo was recorded at 1,499 g/t gold equivalent on a grams X metres basis [5] Assay Results - Assay results from drill holes APC104-D3 and APC104-D4 indicate significant mineralization, with APC104-D3 yielding 351.35 metres at 2.00 g/t gold equivalent and APC104-D4 yielding 176.40 metres at 3.15 g/t gold equivalent [6] - Specific intervals within these holes show higher grades, such as 83.15 metres at 4.06 g/t gold equivalent in APC104-D3 and 55.05 metres at 5.06 g/t gold equivalent in APC104-D4 [6] Company Overview - Collective Mining Ltd. is focused on gold, silver, copper, and tungsten exploration in Caldas, Colombia, with options to acquire 100% interests in two projects within an established mining camp [8] - The company is listed on the NYSE American and TSX under the symbol "CNL" and on the FSE under "GG1" [10]

Core Viewpoint - Collective Mining Ltd. has appointed Jasper Bertisen to its Board of Directors, which is expected to enhance the company's strategic direction and support its growth initiatives, particularly in the Guayabales project [1][2]. Company Overview - Collective Mining Ltd. is a mining exploration company focused on gold, silver, copper, and tungsten, with projects located in Caldas, Colombia. The company was founded by the team that developed and sold Continental Gold Inc. for approximately $2 billion in enterprise value [4]. - The company has options to acquire 100% interests in two projects situated within an established mining camp that includes ten fully permitted and operating mines [4]. Leadership and Expertise - Jasper Bertisen brings extensive experience in the mining industry, having worked primarily in mining private equity with Resource Capital Funds. His background includes overseeing due diligence and strategy execution for various mining investments [2]. - Bertisen has served on the boards of both private and public mining companies and has governance experience in several mining technology companies. He is also an Adjunct Professor at the Colorado School of Mines [2]. Key Projects - The flagship project of Collective Mining is Guayabales, which features the Apollo system known for its large-scale, bulk-tonnage, and high-grade gold-silver-copper-tungsten resources. The company aims to expand this system and explore newly discovered targets [5]. Shareholder Alignment - Management, insiders, a strategic investor, and close family and friends collectively own 44.5% of the outstanding shares of the company, indicating strong alignment with shareholder interests [6].

Core Insights - The company is conducting a fully funded 60,000-metre drill program for 2025, with five drill rigs currently operational and two additional rigs contracted to start in February [1] - The Ramp Zone is a priority target in the drilling program, with plans to deploy up to three rigs simultaneously [1] Drilling and Mineralization - Gold and silver mineralization in the Ramp Zone is associated with bismuth and tellurium sulphides, along with pyrite and pyrrhotite [3] - Early assay results from the Ramp Zone show significantly higher gold grades compared to the nearby Marmato Deeps deposit, which is located 1.75 kilometers southeast [3][5] - The company has identified two primary reasons for the higher gold grades in the Ramp Zone [3] Assay Results - Drill hole APC103-D2 intersected high-grade mineralization at 1,200 metres below surface, extending the vertical dimension of the Ramp Zone by 150 metres [5] - Significant assay results include: - 51.95 metres at 8.38 g/t gold equivalent from 227.10 metres, including 18.05 metres at 16.32 g/t gold equivalent [5] - 48.30 metres at 3.00 g/t gold equivalent from 396 metres in hole APC103-D1 [5] - The mineralization is located between 1,050 metres and 1,200 metres below surface, indicating a new style of mineralized system [5] Comparison with Marmato Deeps - The Ramp Zone's mineralization is hosted within a breccia, which has more porosity for metal-bearing fluids compared to the porphyry host rock at Marmato Deeps [6] - The Marmato Deeps deposit has an NI43-101 compliant resource estimate of 3.76 million ounces of gold at 2.54 g/t in the measured plus indicated category [5] Company Overview - Collective Mining Ltd. is focused on gold, silver, copper, and tungsten exploration in Caldas, Colombia, with options to acquire 100% interests in two projects within an established mining camp [9][10] - The company is listed on the NYSE and TSX under the symbol "CNL" and on the FSE under "GG1" [11]

Core Viewpoint - Collective Mining Ltd. has initiated drilling at the San Antonio Project in Caldas, Colombia, targeting three significant gold-copper porphyry systems within a 2.5-kilometer mineralized corridor, with plans to drill at least 2,500 meters [1][5]. Group 1: Drilling and Exploration Plans - The company is operating five drill rigs as part of a fully funded 60,000-meter drill program for 2025, with two additional rigs expected to start drilling in late January and February [2]. - Drilling has commenced at the Pound target, where previous drilling in 2021 intercepted 710 meters at 0.53 g/t gold equivalent and 750 meters at 0.41 g/t gold equivalent [5]. - New soil anomalies for gold, copper, and molybdenum have been identified at the Real and Euro targets, which will be tested with reconnaissance drilling in Q1 2025 [5]. Group 2: Historical Context and Discoveries - The San Antonio Project was initially discovered shortly after the company went public in 2021, with significant mineralization found in two high-risk drill holes [3]. - The company has reinterpreted historical data and conducted extensive surface mapping and geochemical sampling, leading to the identification of a strongly altered and mineralized corridor [5]. Group 3: Management Insights and Future Expectations - The Executive Chairman expressed confidence in the potential for discovering a major gold-copper porphyry system at San Antonio, citing impressive alteration zones and high-grade mineralization on the surface [3]. - The company believes that previous drilling may have encountered the pyrite halo of a copper-gold porphyry system, with stronger mineralization likely nearby [5].

Core Insights - The company is advancing its drilling program with five rigs currently operational as part of a fully funded 60,000-metre drill program for 2025, with two additional rigs contracted for late January and February [1][2] - A new high-grade gold-rich vein system has been discovered, indicating significant mineralization potential in the Trap area, particularly in the TMZ and Blackjack zones [2][6] - The 2025 drilling program will focus on expanding the mineralization to the northwest, where recent data suggests a possible porphyry feeder source [7][10] Trap Target - The Trap Main Zone (TMZ) shows continuity of mineralization over 700 metres of strike length, with significant assay results including 40.50 metres at 4.01 g/t AuEq and 41.10 metres at 2.13 g/t AuEq [7][8] - The Blackjack Zone has also yielded promising results, with drill hole TRC-28D intersecting 21.35 metres at 1.14 g/t AuEq and 11.55 metres at 3.89 g/t AuEq [7][8] New High-Grade Gold Vein System Discovery - A discreet high-grade gold vein system has been discovered with at least 400 metres of strike length potential, featuring assay results such as 1.30 metres at 49.30 g/t gold and 2.80 metres at 234.15 g/t gold [10][11] - Additional fieldwork is planned for Q1 2025 to further explore this new discovery [10] Plutus Target - The final reconnaissance drill holes at the Plutus target have confirmed porphyry-style mineralization, with results indicating potential for further mineralization at depth [14] - Assay results from the Plutus program include 39.70 metres at 0.31 g/t AuEq and 74.55 metres at 0.60 g/t AuEq [14][13] Company Overview - Collective Mining Ltd. is focused on gold, silver, copper, and tungsten exploration, with projects located in established mining camps in Colombia [15][16] - The company aims to expand its flagship project, Guayabales, and explore newly generated targets including the Tower and X zones [16]

Core Viewpoint - The company has achieved significant drilling results at the Apollo system in Colombia, indicating high-grade mineralization and potential for further exploration and expansion in 2025 [1][6]. Drilling Results - Drill hole APC104-D1 intercepted 534.40 metres at 2.70 g/t gold equivalent, including 150.55 metres at 6.16 g/t gold equivalent, with the highest grade accumulation recorded at 1,440 g/t gold equivalent [2][3]. - The grade accumulation in APC104-D1 is 38% higher than the average of previous intercepts over 1,000 g/t gold equivalent [2]. Exploration Program - The company is initiating a large drilling program aimed at delineating and extending high-grade subzones at Apollo, with ongoing drilling at the Ramp Zone expected to yield results in early Q1 2025 [3][4][6]. - The 2025 drilling program will utilize up to five rigs to expand the Apollo system, which currently measures 600 metres in strike, 400 metres in width, and extends over 1,150 metres below the surface [6]. Geological Context - The Ramp Zone discovery is significant as it shares geological characteristics with nearby multi-million-ounce deposits, indicating potential for substantial mineral resources [4][6]. - The Apollo system's mineralization begins at the surface and remains open in all directions, suggesting further exploration opportunities [6]. Company Overview - Collective Mining Ltd. is focused on gold, silver, copper, and tungsten exploration in Colombia, with the Apollo system being its flagship project [15][16]. - The company has a strong management team with a history of successful mining ventures, including the sale of Continental Gold Inc. for approximately $2 billion [15].