Mr. Serafino Iacono reports

DENARIUS METALS ANNOUNCES LISTING OF CONVERTIBLE DEBENTURES ON CBOE Canada

Further to Denarius Metals Corp.'s news releases dated Oct. 19, 2023, and Nov. 1, 2023, the senior unsecured convertible debentures issued pursuant to the previously announced private placement offering have been approved for listing on Cboe Canada under the symbol DSLV.DB and will begin trading on March 4, 2024, following the expiry of the statutory four-month hold period.

Serafino Iacono, executive chairman and chief executive officer of Denarius Metals, commented: "The listing of the debentures provides investors with another avenue to derive value from their securities. As we continue to advance our 100-per-cent-owned Zancudo project in Colombia toward production in 2024 using the net proceeds of the offering, we believe Denarius Metals is well positioned to create and deliver significant long-term value from its portfolio of projects in Spain and Colombia to its security holders."

The debentures bear interest at a rate of 12 per cent per annum, payable monthly in equal instalments and will mature on Oct. 19, 2028. The debentures will also pay a gold premium on the principal amount of the debentures in cash. The gold premium will be paid at the end of each quarter starting Jan. 31, 2025, and will be calculated as a percentage equal to 25 per cent of (i) the amount, if any, by which the London P.M. fix on the quarterly measurement date exceeds $1,800 (U.S.) per ounce of gold (the floor price) divided by (ii) the floor price. The principal amount of the debentures is convertible, at the option of the holder, at any time into common shares of the company at a conversion price of 45 cents per common share.

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. The company owns a 100-per-cent interest in 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 tpd processing plant, located in Monesterio, Extremadura, Spain, approximately 88 km 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 Metals two options to acquire up to an 80-per-cent ownership interest in Europa Metals Iberia SL (EMI), a wholly-owned Spanish subsidiary of Europa which holds the Toral project. The company is carrying out 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 this year through local contract mining and long-term growth through continued exploration of the Zancudo deposit which remains open in all directions.

We seek Safe Harbor.