Mr. Ari Sussman reports

COLLECTIVE MINING EXPANDS THE HIGH-GRADE RAMP zone BY INTERSECTING 51.95 METRES AT 8.38 G/T AUEQ INCLUDING 18.05 METRES AT 16.32 G/T AUEQ

Ari Sussman, executive chairman of Collective Mining Ltd., commented: "Drilling into the Ramp zone appears to be confirming that not only have we discovered a new high-grade gold system at the deepest drilled depths of the Apollo system, but that we have potentially only drilled the top of it. Without question, the fluids depositing gold at the Ramp zone are more reduced than the top 1,000 metres of the Apollo system with a very strong correlation between gold and bismuth grades. Additionally, the Ramp zone shares certain geological characteristics with the multimillion-ounce Marmato Deeps deposit but so far has materially higher grades due to the more porous host rock and overprinting late-stage porphyry related CBM veins. The Marmato Deeps deposit has been drilled over 700 metres vertically where it remains open. If our Ramp zone discovery evolves into a system with similar dimensions as Marmato Deeps, we are only at the cusp of drilling a very large endowment of high-grade gold at depth."

• Drill hole APC103-D2 cut an impressive 51.95 metres grading 8.38 grams per tonne gold equivalent in the new Ramp zone discovery and is the deepest hole ever drilled at the Apollo system with the hole bottoming in mineralization at approximately 1,200 metres below surface.
• Both holes announced herein have expanded the recently discovered high-grade Ramp zone by approximately 50 metres along strike and 150 metres vertically.
• The Ramp zone discovery appears to share many similarities to a reduced or partially reduced intrusion related system with numerous comparable characteristics to Aris Mining's multimillion-ounce Marmato Deeps gold deposit located only 1.75 kilometres along strike to the southeast and currently under construction.
• Drilling continues to test the Ramp zone with two holes currently coring into the Ramp zone and a third drill pad now under construction. The Ramp zone remains completely open in all directions for expansion.

To watch a video of David Reading, special advisor to the company, and QP under NI43-101 explain today's results please see a link available in the original version of this news release.

Collective Mining has released assay results for two follow-up drill holes into the recently discovered Ramp zone which is located in the deeper portion of the Apollo system, which in turn is the flagship discovery within the company's multitarget Guayabales project in Caldas, Colombia.

The company currently has five drill rigs operating as part of its fully financed 60,000-metre drill program for 2025. Two additional rigs have been contracted with drilling anticipated to ensue in February. The Ramp zone is a priority in the 2025 drilling program with up to three rigs targeting the zone simultaneously.

Details (see Table 1)

• Hole APC103-D2 was drilled from mother hole APC-103D in a southwest direction to intersect the Ramp zone. In what is now the deepest intersection of high-grade mineralization at Apollo to date, the hole intercepted the Ramp zone at 1,200 metres below surface and extended the vertical dimension of the Ramp zone by 150 metres and it remains open. The hole cut impressive high-grade gold mineralization over two zones before being stopped while in mineralization in the latter zone with assays results as follows:
  • 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 from 259.85 metres.
  • 18.50 metres at 3.84 g/t gold equivalent from 340.30 metres and bottoming in strong mineralization.
• APC103-D1 was also drilled toward the southwest portion of Apollo and directed to laterally stepout eastward along strike from the original discovery hole of the Ramp zone (APC99-D5; see press release dated Oct. 22, 2024). APC103-D1 cut a broad interval of continuous mineralization with assay results as follows:
  • 48.30 metres at 3.00 g/t gold equivalent from 396 metres including;
    • 13.60 metres at 5.16 g/t gold equivalent from 421 metres.
• The mineralization identified to date in the Ramp zone is located between 1,050 metres and 1,200 metres below surface and clearly outlines the beginning and most shallow part of a new style of mineralized system. The gold-bearing, sulphide mineral assemblages are very similar to those seen in Aris Mining's Marmato Deeps deposit which starts, coincidentally, at the same depth below surface as the Ramp zone. A mine to produce gold from the Marmato Deeps deposit is currently under construction. Aris Mining's Marmato Deeps deposit hosts a National Instrument 43-101-compliant resource estimate of 3.76 million ounces of gold in the measured plus indicated category at 2.54 g/t gold (hosted within 46 million tonnes) and 2.54 million ounces of inferred gold at 2.39 g/t gold (hosted within 33.1 million tonnes). The dimensions of the Marmato Deeps deposit measure up to 950 metres of strike by 300 metres width by 750 metres vertical and remains open.
• Gold and silver mineralization in the Ramp zone is associated with sulphides of bismuth and tellurium in association with pyrite and pyrrhotite in veins, veinlets, and vein stockwork. The company has dispatched samples for microscopic thin section evaluation to better understand the genesis of the Ramp zone as it could be similar to the multimillion-ounce, reduced granite system at Marmato Deeps deposit located only 1.75 kilometres to the southeast of Apollo. However, the key difference between early assay results for drill holes from the Ramp zone compared with the Marmato Deeps deposit is that the gold grades from early drilling at the Ramp zone thus far are significantly higher. The company believes there are two primary reasons leading to the higher gold grades at the Ramp zone which are as follows:
  • Mineralization is hosted within a breccia, which has more porosity for metal-bearing fluids to be deposited than the precursor porphyry host rock at Marmato Deeps;
  • The mineralization is overprinted in places by the same late-stage high-grade porphyry veins (CBM veins) that overprint all of the Apollo system drilled to date from surface.
• As a reminder, the top of the Ramp zone at approximately 1,050 metres below surface is located in close proximity to the elevation of a future proposed access haulage tunnel for potential underground mining scenarios at Apollo.

About Collective Mining Ltd.

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2-billion in enterprise value, Collective is a gold, silver, copper and tungsten 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 system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The company's objectives are to expand the Apollo system by stepping out along strike and testing the newly discovered high-grade Apollo Ramp zone, expand the Trap system and drill a series of newly generated targets including Tower and X.

Management, insiders, a strategic investor, and close family and friends own 44.5 per cent of the outstanding shares of the company and, as a result, are fully aligned with shareholders. The company is listed on the New York Stock Exchange and Toronto Stock Exchange under the trading symbol CNL and on the Frankfurt Stock Exchange under the trading symbol GG1.

Qualified person (QP) and National Instrument 43-101 disclosure

David J. Reading is the designated qualified person for this news release within the meaning of National Instrument 43-101, and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in economic geology and is a fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical information

Rock, soils and core samples have been prepared and analyzed at ALS laboratory facilities in Medellin, Colombia, and Lima, Peru. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The company utilizes a rigorous, industry-standard QA/QC (quality assurance/quality control) program.

We seek Safe Harbor.