Mr. Ari Sussman reports

COLLECTIVE MINING DRILLS 183.70 METRES AT 3.01 G/T GOLD EQUIVALENT COMMENCING FROM 37.30 METRES Down hoLE AT THE APOLLO SYSTEM

Collective Mining Ltd. has released assay results for four diamond drill holes designed to better outline and expand the shallow portion of gold-silver-copper-tungsten mineralization at the Apollo system. Apollo, which begins at surface, is strongly mineralized over 1,200 vertical metres, is open at depth and is the most advanced discovery made to date within the company's multitarget Guayabales project in Caldas, Colombia.

• High-grade gold, copper, silver and tungsten assay results have been received for four holes from its continuing shallow drilling program designed to outline and expand the near-surface zone of mineralization at the Apollo system with highlighted results as follows:
  • 183.70 metres at 3.01 grams per tonne gold equivalent (0.86 g/t gold, 44 g/t silver, 0.83 per cent copper and 0.14 per cent WO3 (tungsten trioxide)) from 37.30 metres down hole (APC-134);
  • 37.15 metres at 7.05 g/t gold equivalent (2.19 g/t gold, 89 g/t silver, 0.92 per cent copper and 0.73 per cent WO3) from 118.10 down hole (APC-136).
• The second large capacity diamond drill rig to test the Ramp zone has arrived on site and is expected to begin operating within the next two weeks.

The company currently has eleven drill rigs operating as part of its fully financed 70,000-metre drill program for 2025 with eight rigs operating at the Guayabales project and three rigs turning at the San Antonio project. Drilling at the Guayabales project is focused on multiple objectives which include defining shallow mineralization, expanding and identifying new high-grade subzones, expanding the high-grade Ramp zone at depth and testing new targets. Two deep capacity drill rigs are now at Apollo with the first rig now drilling a mother hole after successfully extending a previous stepout hole which failed to reach its intended depth when targeting the Ramp zone (assays results pending). A second deep capacity rig has recently arrived at site and is expected to begin drilling a second mother hole to test the high-grade Ramp zone discovery within the next two weeks.

Approximately 133,000 metres of diamond drilling has been completed to date at the Guayabales project, including 93,000 metres at Apollo. There are currently 25 drill holes in the lab with assay results for most of these holes expected in the near term.

Ari Sussman, executive chairman, commented: "As the shallow drill program at Apollo approaches its conclusion, we continue to improve upon the internal block model by intersecting extraordinary grades of gold, silver, copper and tungsten. We are also pleased that the second large capacity rig to test the Ramp zone below Apollo has arrived on site and will begin operating shortly. We expect to begin intersecting the Ramp zone next month with a series of directional holes with a goal of expanding the zone up to 300 metres along strike and below current drilling. Additionally, we are evaluating bringing a third deep capacity rig for the Ramp zone in order further expand the Ramp drilling program."

Details (see Table 1)

• Four drill holes drilled from Pad 25 intersected high-grade gold, silver, copper and tungsten mineralization from at or near surface with results as follows:
  • 111.05 metres at 1.79 g/t gold equivalent from 50.05 metres down hole (APC-132);
  • 183.7 metres at 3.01 g/t gold equivalent from 37.30 metres down hole (APC-134) including:
    • 31.85 metres at 4.12 g/t gold equivalent from 98.70 metres down hole.
  • 64.80 metres at 3.32 g/t gold equivalent from 25.70 metres down hole and 49.40 metres at 2.44 g/t gold equivalent from 124.60 metres down hole (APC-135);
  • 31.40 metres at 3.55 g/t gold equivalent from 28.70 metres down hole and 37.15 metres at 7.05 g/t gold equivalent (APC-136).
• The drill program targeting the shallowest portion of Apollo is nearing completion with approximately six drill holes remaining. Drill intercepts from the shallow program have expanded the volume of the shallow mineralized area by approximately 5 per cent and have filled multiple gaps within the internal block model. Once the shallow drilling program has been completed, the average drill hole spacing will be 35 metres from surface to a vertical depth of 150 metres.

The company has received assay results for two diamond drill holes completed at the Knife target and did not intersect any significant mineralization. As a result, the Knife target has been removed from the company's inventory of greenfield drill targets at the Guayabales project.

The significant backlog of drill holes at the laboratory in Peru is being rectified and accordingly the company expects to be releasing assay results at an accelerated rate for the foreseeable future.

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 interest in two projects located directly within an established mining camp with ten 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 modeled potentially high-grade subzones, expand the newly discovered high-grade Ramp zone along strike and to depth and drill a series of greenfield generated targets on the property.

Additionally, the company has launched its largest drilling campaign in history at the San Antonio project as it hunts for new discoveries and looks to expand upon the newly discovered porphyry system at the Pound target. The San Antonio project is located between two to five kilometres east-northeast of the Guayabales project and could potentially share infrastructure given their close proximity to each other.

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 and Toronto Stock Exchange under the trading symbol CNL.

Qualified person (QP) and NI 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

Samples were cut by company personnel at Collective Mining's core facility in Caldas, Colombia. Diamond drill core was sawed and then sampled in maximum two-metre intervals, stopping at geological boundaries. Drill hole core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole.

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.