Mr. Michael Davies reports

DENARIUS METALS FILES NATIONAL INSTRUMENT 43-101 TECHNICAL REPORT FOR ITS LOMERO PROJECT IN SPAIN

Denarius Metals Corp. has filed a technical report dated Nov. 2, 2023, for its 100-per-cent-owned Lomero project pursuant to National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

The Lomero project is a polymetallic deposit located on the Spanish side of the prolific copper-rich Iberian pyrite belt, one of the largest districts of pyrite-rich massive sulphide deposits in the world. The technical report, which supports the disclosure made by the company in its Sept. 18, 2023, news release, was prepared by SRK Consulting (U.S.), Inc. and is based on an updated mineral resource estimate (MRE) for the Lomero project with an effective date of July 31, 2023. The updated MRE was prepared following the completion of the company's phase 2 and phase 3 infill and validation drilling campaigns carried out from October, 2022, through July, 2023.

The current geological model and the updated MRE for the Lomero-Poyatos deposit include the results obtained from a total of 146 holes representing 44,228 metres of drilling completed to date by the company plus another 55 historical holes drilled by CMR representing 10,053 metres.

The updated MRE comprises: indicated mineral resources totalling 7.73 million tonnes at 0.66 per cent copper, 1.03 per cent zinc, 0.46 per cent lead, 25 grams per tonne silver and 2.27 grams per tonne gold (1.91 per cent Cu equivalent) containing an estimated 51 kilotonnes Cu, 80 kt Zn, 36 kt Pb, 6.1 million ounces Ag and 0.6 Moz Au; and, inferred mineral resources totalling 3.45 Mt at 0.29 per cent Cu, 1.18 per cent Zn, 0.53 per cent Pb, 22 g/t Ag and 1.86 g/t Au (1.46 per cent CuEq) containing an estimated 10 kt Cu, 41 kt Zn, 18 kt Pb, 2.5 Moz Ag and 0.2 Moz Au.

The technical report can be found on the company's website and its profile on SEDAR+.

Qualified persons review

The technical information in this news release has been reviewed and approved by Ben Parsons, principal consultant (resource geology) with SRK, who is a qualified person as defined under National Instrument 43-101.

About Denarius Metals Corp.

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts, with its principal focus on the Lomero project in Spain. The company signed a definitive option agreement with Europa Metals Ltd. in November, 2022, pursuant to which Europa has granted Denarius Metals two options to acquire up to an 80-per-cent ownership interest in the Toral Zn-Pb-Ag Project, Leon province, Northern Spain. The company's 100-per-cent-owned Zancudo project in Colombia provides an opportunity to develop near-term production and cash flow through local contract miners and long-term growth through exploration.

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