Mr. Serafino Iacono reports

DENARIUS METALS ANNOUNCES BOARD CHANGES

Hernan Juan Jose Martinez Torres, a director of Denarius Metals Corp. since October, 2022, and the lead independent director of the company, has passed away.

"Mr. Martinez served as Minister of Mines in Colombia from July, 2006, to August, 2010, and held several senior management and director roles over an impressive career, including president of Exxon Mobil Colombia and as a director of GCM Mining (now Aris Mining Corp.). He was an exceptional leader and mentor who generously shared his expertise and business knowledge, as well as his warmth and friendship," said Serafino Iacono, executive chairman and chief executive officer of Denarius Metals. "We will miss his dedication and service. We extend our heartfelt sympathies to his family and friends."

The company also announced today that Paul Sparkes, a member of the board since 2020, has been appointed the lead independent director, and Mateo Restrepo Villegas has been appointed to its board, subject to regulatory approval, effective immediately. Mr. Restrepo, currently the managing partner of Impact Capital, a Colombian-based strategic investment and advisory firm, has extensive experience in mining, infrastructure, banking and government relations. Mr. Restrepo, who previously served as president of Continental Gold Inc. from 2015 to 2018, holds a master in public administration from Harvard University and a bachelor of business administration from Berkeley College.

Serafino Iacono commented: "We are pleased to welcome Mr. Restrepo to our board. We are entering into an important phase in our business plan as we bring each of our Zancudo, Aguablanca-Lomero and Toral projects into production over the next couple of years. Mr. Restrepo played a key role at Continental Gold's Buritica project in Colombia, where he guided a large-scale underground gold mining project into operation, leading the environmental licensing process and developing its ESG [environmental, social and governance] strategy. His banking and government relations experience will also be valuable assets to our board."

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, 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 company recently acquired a 50-per-cent interest in Rio Narcea Recursos SL, which has the rights to exploit the historic producing Aguablanca nickel-copper mine, including a 5,000-tonne-per-day processing plant, located in Monesterio, Extremadura, Spain, approximately 88 kilometres from the company's Lomero project. The company is also carrying out an exploration campaign on the Toral zinc-lead-silver project located in the Leon province, northern Spain pursuant to a definitive agreement signed in 2022 for an option and joint venture arrangement with Europa, pursuant to which Europa has granted Denarius two options to acquire an up-to-80-per-cent ownership interest in Europa Metals Iberia SL, a wholly owned Spanish subsidiary of Europa, which holds the Toral project. The company has commenced construction activities at its 100-per-cent-owned Zancudo project in Colombia, which includes the historic producing Independencia mine, providing an opportunity to develop near-term production and cash flow commencing in 2024 through local contract mining and long-term growth through continued exploration of the Zancudo deposit, which remains open in all directions.

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