THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Collective Mining Ltd. (NYSE: CNL, TSX: CNL) (“Collective” or the “Company”) has announced today that it has entered into an agreement with BMO Capital Markets and Scotiabank as joint bookrunners on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriter ...

Core Viewpoint - Collective Mining Ltd. has announced positive assay results from its ongoing drilling program at the Apollo system, indicating significant gold-silver-copper-tungsten mineralization and the potential for further expansion of the resource [1][6][12]. Drilling Program and Results - The company is conducting a fully funded 70,000 metre drill program for 2025, with 11 drill rigs currently operational, focusing on the Guayabales Project and the San Antonio Project [2][3]. - Approximately 133,000 metres of diamond drilling have been completed at the Guayabales Project, with 93,000 metres specifically at Apollo [3]. - Recent assay results from four drill holes at Apollo revealed high-grade mineralization, including 183.70 metres at 3.01 g/t gold equivalent from 37.30 metres downhole (APC-134) and 37.15 metres at 7.05 g/t gold equivalent from 118.10 metres downhole (APC-136) [6][8][14]. Future Plans and Expectations - The company plans to expand the high-grade Ramp Zone at Apollo, with a second large capacity drill rig now on site and expected to begin operations shortly [4][6]. - The shallow drilling program at Apollo is nearing completion, with approximately six drill holes remaining, and is expected to enhance the internal block model by filling gaps and expanding the mineralized area by about five percent [14]. Project Overview - The Guayabales Project is the flagship project of Collective Mining, anchored by the Apollo system, which hosts large-scale, high-grade mineralization [12][11]. - The company aims to systematically drill test newly modeled high-grade sub-zones and explore greenfield targets within the project area [12].

Core Viewpoint - Collective Mining Ltd. has announced positive assay results from five diamond drill holes at the Apollo system, indicating strong mineralization and potential for expansion of the gold-silver-copper-tungsten resources in the Guayabales Project in Caldas, Colombia [1][5][10]. Company Overview - Collective Mining Ltd. is focused on exploring and developing gold, silver, copper, and tungsten projects in Colombia, with a significant emphasis on the Guayabales Project, particularly the Apollo system [9][10]. - The company has a history of successful project development, having previously sold Continental Gold Inc. for approximately $2 billion [9]. Drilling Program - The company is conducting a fully funded 70,000-meter drill program for 2025, with ten drill rigs currently operational, eight at the Guayabales Project and two at the San Antonio Project [2][3]. - Approximately 131,500 meters of diamond drilling have been completed at the Guayabales Project, with 92,000 meters specifically at Apollo [3]. Assay Results - Recent assay results from five drill holes show high-grade mineralization, including: - APC-125: 442.35 meters at 2.16 g/t gold equivalent from surface, including 68.05 meters at 4.55 g/t [5][7]. - APC-126: 325.10 meters at 2.03 g/t gold equivalent from 8 meters downhole [5][7]. - APC-124: 99.75 meters at 2.09 g/t gold equivalent from 20.95 meters downhole [5][7]. - The shallow drilling program has expanded the volume of the shallow mineralized area by approximately 5% [7]. Future Plans - The company plans to continue drilling to define and expand high-grade sub-zones and test additional gravity targets, with expectations of making further discoveries by the end of 2025 [3][10]. - A second deep capacity drill rig is expected to arrive in Q3 2025 to further explore the high-grade Ramp Zone [2][3].

Company Overview - Collective Mining Ltd. is a gold, silver, copper, and tungsten exploration company with projects located in Caldas, Colombia [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] - Management and insiders own approximately 33.4% of the outstanding shares, aligning their interests with shareholders [6] Recent Developments - Collective Mining will be added to the MSCI Canada Small Cap Index, effective after the close of trading on May 30, 2025 [1] - The addition to the index was announced by MSCI Inc. on May 13, 2025, following their index review [1][2] Project Highlights - The flagship project, Guayabales, is anchored by the Apollo system, which hosts large-scale, bulk-tonnage, and high-grade mineralization [5] - The company's objectives include improving the overall grade of the Apollo system, expanding the system along strike, and drilling newly generated targets [5]