Mr. Omar Ossma reports

COLLECTIVE MINING PUBLISHES ITS 2022 ESG REPORT AND ACHIEVES CARBON NEUTRALITY

Collective Mining Ltd. has published its 2022 sustainability report, which contains a clear and comprehensive account of the company's performance in social, environmental, health and safety, and governance matters within its area of operations. In addition, Collective has become carbon neutral in 2022 for the first time, due to the purchase of carbon credits from the Delfines Cupica Redd+ project. Focused in the department of Choco, the Delfines Cupica Redd+ initiative is led by ethnic communities of the Choco region and plays a key role in the conservation of more than 103,000 hectares of tropical forests, which benefits approximately 7,000 people.

Collective's ESG report highlights several achievements in 2022, including:

• Over $180,000 of social investment in projects for the communities such as the construction of a water utilities facility benefitting approximately 900 people, the construction of rural roads, and various agricultural initiatives consisting of training and the replacement of more than 200,000 coffee plants. These projects represented more than $400,000 in total investment when combined with the company's strategic partners.
• In order to improve the conservation of water sources for the communal water utilities, 1,900 trees were planted in the company's area of operation, which covers approximately five hectares of land.
• With 28 per cent of the company's employees being female, the company continues advancing toward its goal of ultimately becoming gender neutral. By way of comparison, according to the Departamento Administrativo Nacional de Estadisticas (DANE) (national statistics administrative department), 17 per cent of the Colombian mining industry is currently represented by females.
• A material reduction of the company's total recordable injury frequency rate (TRIFR) from 5.3 in 2021 to 0.96 in 2022. The company remains focused on improving its health and safety culture.

Omar Ossma, president and chief executive officer of Collective Mining, stated: "Our results in 2022 demonstrate Collective Mining's strong commitment to sound ESG principles. Our operating model of aligning exploration activities hand-in-hand with a robust ESG program continues to pay dividends for our stakeholders as we advance our Guayabales and San Antonio projects. We are committed to continue operating with transparency, respect and responsibility towards our stakeholders. We would like to extend our special appreciation to our strategic allies for their commitment to implementing community-based programs, including, but not limited to, the Committee of Coffee Growers in Caldas, the mayor's offices of Supia, Marmato and Pacora, and the governor's office for the department of Caldas. We commit to continuing to contribute to the construction of a responsible and prosperous future for the region."

The report is available on the company's website, under ESG.

About Collective Mining Ltd.

To see the company's latest corporate presentation and related information, please visit the company's website.

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2-billion in enterprise value, Collective Mining is a copper, silver and gold exploration company with projects in Caldas, Colombia. The company has options to acquire 100-per-cent interests in two projects located directly within an established mining camp with 10 fully permitted and operating mines.

The company's flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold Apollo porphyry system. The company's near-term objective is to drill the shallow portion of the porphyry system, continue to expand the overall dimensions of the system, which remains open in most directions and test newly generated grassroots targets.

Management, insiders, and close family and friends own nearly 45 per cent of the outstanding shares of the company and as a result, are fully aligned with shareholders.

We seek Safe Harbor.