Mr. Ari Sussman reports

COLLECTIVE MINING EARNS 100% IN THE GUAYABALES MINING LICENSE BY ACCELERATING THE TERMS OF THE AGREEMENT

Collective Mining Ltd. has accelerated its agreement with the vendor of the Guayabales mining licence and as a result will effect the transfer of 100 per cent of the mining licence into its name. The Guayabales licence, which hosts the company's flagship Apollo system, is one of three major contiguous licences that make up the company's Guayabales project, located in Caldas, Colombia.

The original agreement for the Guayabales mining licence was signed between the company and the vendor in June, 2020, and entitled the company to earn a 100-per-cent ownership in the exploitation phase mining licence in 2032 by making a series of scheduled payments and committing to certain exploration expenditures.

Under the amendment, the total financial consideration owed to the vendor remains the same as the original agreement; however, the payment schedule has been accelerated as follows:

• $2-million payable immediately;
• An additional $2-million is payable within one month provided the title transfer request to the Colombian National Mining Agency (ANM) has been filed;
• An additional $2.3-million is payable within two months following the submission of the title transfer request;
• The remaining $3.5-million will be payable in six equal instalments over the following three years from the date of the execution of the amendment to the agreement.

The title transfer approval is expected within 60 days following the request being made to the ANM.

Ari Sussman, chairman of the board, commented: "Accelerating the agreement and earning 100 per cent of the mining title today made a lot of sense for the company given our strong treasury of approximately $78-million at the end of Q1 2025 and our confidence that Apollo will evolve into a future mine. Given the fact that this mining licence is in its exploitation phase, the company intends to leverage the licence to its advantage in its future permitting efforts. We would like to thank the vendor for their support in this matter, and we look forward to our continued collaboration as we advance the project."

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 improve the overall grade of the Apollo system by systematically drill testing newly modelled potentially high-grade subzones, expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp zone along strike and to depth, and drill a series of less advanced or newly generated targets, including Trap, Knife 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 both the NYSE American exchange and the Toronto Stock Exchange under the trading symbol CNL.

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