Mr. Michael Davies reports

DENARIUS METALS ANNOUNCES FURTHER UPDATE ON ITS PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT

In light of current volatile market conditions, Denarius Metals Corp. has terminated the previously announced best efforts brokered private placement. The company will proceed with a non-brokered private placement of up to 13 million units of the company at a price of 50 cents per unit for gross proceeds of up to $6.5-million. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of 60 cents per common share at any time on or before that date that is 36 months after the closing date. It is anticipated that the closing of the offering will occur on or prior to March 20, 2025.

The company intends to use the net proceeds of the offering to finance its projects in Spain, including the advancement of scoping and other studies and site administration costs at its Lomero and Toral projects, capital contributions related to certain restart activities and site administration costs at the Aguablanca project, and for general corporate and administrative costs of the company.

At this time, certain insiders of the company have indicated their interest to participate in the offering for approximately $1.5-million of gross proceeds. As the number of securities issuable to related persons (as defined under Cboe Canada's policies) of the company in the offering is more than 10 per cent of the current total number of issued and outstanding common shares, calculated on a non-diluted basis, to proceed with the offering, the company requires approval from shareholders representing a majority of the outstanding shares held by disinterested shareholders. The company intends to satisfy Cboe Canada's shareholder approval requirement by obtaining a written resolution signed by holders of at least 50 per cent of the holders entitled to vote thereon. Completion of the offering is subject to regulatory approvals, including Cboe Canada.

The common shares and warrants issuable in connection with this offering will be subject to a hold period expiring four months and one day after the date of issuance.

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. Denarius Metals is commencing production from its Zancudo project in Colombia in the first quarter of 2025 and expects to commence operations in the next 12 months at the Aguablanca project in Spain.

In Spain, Denarius Metals 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, and a 21-per-cent interest in Rio Narcea Recursos SL, which owns a 5,000-tonne-per-day processing plant and has the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura, Spain, approximately 88 kilometres northeast of the Lomero project. Denarius Metals also owns a 100-per-cent interest in the Toral project, a high-grade zinc-lead-silver deposit located in the Leon province, northern Spain.

In Colombia, Denarius Metals is commencing operations at its 100-per-cent-owned Zancudo project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca belt, about 30 kilometres of Medellin.

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