Mr. Ari Sussman reports

COLLECTIVE MINING ACQUIRES ALL OF THE REMAINING SURFACE RIGHTS REQUIRED FOR A FUTURE MINING OPERATION AT THE GUAYABALES PROJECT

Collective Mining Ltd. has executed final binding purchase agreements (BPAs) with several arm's-length vendors for the company to acquire the remaining surface rights needed for a future mining operation at the Guayabales project, located in Caldas, Colombia. Collective also holds the mineral titles, or options to acquire the mineral titles, over all areas where surface titles have been or are being acquired for future mine development.

Ari Sussman, executive chairman, commented: "Completing the acquisition of all surface land required for a future mining scenario at our Guayabales project is a major step towards realizing our vision of developing a major critical mineral mining operation in Colombia. We envision a future mine for the Apollo system, which is a polymetallic deposit enriched in gold, copper, tungsten and silver, that will be modern, have a modest surficial footprint and will adhere to the highest standards of environmental stewardship. The future mine will benefit immensely from robust infrastructure as it will be located next to the Pan-American Highway and hydro-power lines and have access to readily available skilled labour from our established mining region in Caldas. Purchasing surface titles in Colombia is never easy given the fragmented nature of land ownership, so I would like to congratulate our team for immensely derisking the project in a swift and thorough manner."

Terms of the final pieces of land being acquired

Under the terms of the recently executed binding purchase agreements, Collective Mining will acquire land for a total purchase price of $44-million (U.S.), to be paid in instalments over a five-year period as follows:

• $8.7-million (U.S.) in 2026, upon execution the BPAs;
• $10-million (U.S.) in 2027;
• $8.5-million (U.S.) in 2028;
• $8.4-million (U.S.) in 2029;
• $8.4-million (U.S.) in 2030.

Other relevant conditions of the BPAs include interest on certain future payments at 6 per cent per annum and promissory notes to ensure compliance of payments and mortgages over the acquired surface rights. In the event that Collective receives approval from the relevant environmental agency for a mining operation and elects to begin construction prior to completing the final instalments, certain outstanding instalment payments shall become immediately due prior to the commencement of major mine construction activities.

Plans for an exploration adit

With all the surface titles required for a future mine now either owned or under BPAs, the company plans to commence construction of an exploration adit in Q4 2026. The exploration adit, which will be used to support the company's geological understanding of the Guayabales project from underground, will initially be used to construct underground drill chambers to test the Trap system. Trap, which was discovered in 2022 through surface drilling, has been sparsely drilled along a 1.4-kilometre mineralized corridor enriched by gold and silver sheeted veinlets. With underground access, the company will soon be able to advance Trap's exploration potential in an expedited manner as opposed to drilling it solely from challenging steep topography.

The company will immediately begin all relevant preparation work for the exploration adit, including, but not limited to, contractor selection, detailed engineering and surface work. In addition to providing the company with underground drilling access, the exploration adit will greatly enhance the company's ability to advance the project's geotechnical and hydrological characterization and will provide access for the future collection of metallurgical bulk samples. The enhanced data and information collected from the exploration adit will be crucial in supporting future scoping and feasibility studies.

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's two projects are 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 at the Guayabales project are to 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 is drilling its optioned San Antonio project (can earn up to 100-per-cent interest) as it hunts for new discoveries and looks to aggressively extend to the south the recently discovered high-grade silver system made 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 proximity to each other.

Management, insiders, a strategic investor, and close family and friends own 45.3 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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