Mr. Ari Sussman reports

COLLECTIVE MINING PROVIDES PROGRESS UPDATE ON EXPLORATION ADIT AND ANNOUNCES THE APPOINTMENT OF JOSUE ROMANOS AS VICE PRESIDENT, PROJECTS

Collective Mining Ltd. has provided an update on its planned exploration adit at the Guayabales project, originally announced on March 11, 2026. Collective has appointed Josue Romanos as vice-president, projects, effective immediately.

Ned Jalil, chief executive officer, commented: "The progress on our exploration adit marks an important step in accelerating our understanding of the system from underground and advances the Guayabales project towards our ultimate goal of production, with construction of the adit expected to break ground in the fourth quarter of 2026. To ensure the exploration adit and future construction is delivered responsibly and on budget, we are pleased to welcome Josue Romanos as Collective Mining's new vice-president, projects. Josue's decades of experience managing and delivering several multibillion-dollar capital projects will be a significant asset as we continue to build a world-class company grounded in operational excellence and responsible development."

Exploration adit -- progress update

The exploration adit is a key component of the company's strategy to advance its understanding of the Apollo system and the broader Guayabales project from underground. Since announcing the company's plan to construct an exploration adit on March 11, 2026, considerable progress has been made on the workstreams required to support development of the project.

Detailed engineering studies and execution plans have progressed, and the company is now advancing through the relevant permitting track with an increased focus on operational readiness ahead of the commencement of construction. As part of this preparation work, the company has completed various early activities, including completing the construction of an explosives storage facility, which has been inspected and approved for compliance by the relevant authorities.

The exploration adit will provide underground drilling access, enhance the company's ability to advance the project's geotechnical and hydrological characterization, and provide access for the future collection of metallurgical bulk samples, all of which will be important in supporting future project studies.

Appointment of vice-president, projects

Mr. Josue Romanos is a senior projects executive with more than 30 years of experience in the energy and infrastructure industries in Colombia. He spent over 15 years at Ecopetrol, Colombia's national energy company, most recently as general manager of projects, where he led the engineering, construction, commissioning and quality assurance of a multibillion-dollar capital portfolio and served on the company's investment committee. Earlier in his career, he held operations and commissioning roles at BP Exploration and PetroSantander across major projects in Colombia. Mr. Romanos is a petroleum engineer from Universidad de America, with a postgraduate specialization in gas engineering from Universidad Industrial de Santander.

Mr. Romanos's appointment strengthens Collective's in-house project execution capabilities as the company advances the Guayabales project through increasingly detailed technical, permitting and operational readiness workstreams. His extensive experience leading complex capital projects in Colombia brings important execution, commissioning, quality assurance and investment governance expertise to Collective as the company continues to advance Guayabales in a disciplined and responsible manner.

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, drill test the new hangingwall vein zone, and drill a series of greenfield generated targets on the property.

Management, insiders, a strategic investor, and close family and friends own 45.2 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.

We seek Safe Harbor.