Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) announced today that it has signed a binding Letter of Intent with Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) establishing a 50/50 joint venture aimed at formalizing existing small-scale mining operations located within Quimbaya’s Tahami Project which is located in the Segovia Gold District of Antioquia, Colombia, adjacent to the high-grade Segovia Operations owned by Aris Mining Corporation.

Serafino Iacono, Executive Chairman of Denarius Metals, commented, “We see this joint venture with Quimbaya as an opportunity to leverage our team’s considerable experience in exploration, mining and community relations in Colombia, particularly in the Segovia Gold District where we founded Gran Colombia Gold (now Aris Mining) and built the Segovia Operations into the largest underground gold producer in Colombia and one of the highest-grade underground gold producers globally. We are excited about the opportunity to develop near-term production and cash flow through the implementation of a formalized artisanal mining operation in partnership with Quimbaya and the local community.”

This collaboration seeks to integrate artisanal mining operations into a formalized structure to create mutually beneficial partnerships while supporting and empowering the host communities in the Tahami Project. Importantly, this initiative complements Quimbaya’s ongoing exploration efforts, including its planned 4,000-meter drilling campaign at Tahami South, by fostering stronger community relations and facilitating access to key areas. Both parties are working diligently to finalize a definitive agreement for the joint venture as soon as possible, subject to customary regulatory and corporate approvals. Key aspects of the joint venture include:

• A 50/50 partnership between Zancudo Metals Corp., a wholly owned subsidiary of Denarius Metals and 100% owner of its Zancudo Project, and Quimbaya, where the costs and expenses will be split equally between both parties.
• Joint development targeted on the Tahami South and Tahami North areas within the Tahami Project. Exploitation will focus on concessions SHO-08001, SE9-13331, LJQ-08001 and HHII-21 owned by Quimbaya.
• The partnership aims to formalize current artisanal mining operations, leveraging the extensive experience of Denarius Metals’ management who have implemented successful models in the region. Denarius Metals will provide technical and financial support so that the artisanal miners can legalize their production within the mining legalization program.
• Denarius Metals will also leverage its previous experience to support the processes related to obtaining mining and environmental licenses for the Quimbaya concessions.
• Denarius Metals will lead the commercialization of production on behalf of the joint venture. Profits from all sales will be split equally between both parties.

About the Tahami Project

Located directly adjacent to and on trend with Aris Mining’s flagship Segovia Operations, the Tahami Project spans over 17,000 hectares across a district-scale vein system that shows analogies with the Segovia-Remedios Mining District, with historic artisanal activity and substantial exploration upside. The area is supported by existing infrastructure, a favorable mining jurisdiction and a strong tradition of gold production. Over 150 artisanal miners are actively producing gold on Quimbaya’s assets daily and over 25 historical mines have been identified within its assets.

Refer to Attachments 1, 2 and 3 for maps showing the location of the Tahami Project.

About Quimbaya

Quimbaya is a Canadian junior exploration company focused on discovering gold resources through the exploration and acquisition of mining properties in Colombia’s prolific mining districts. Quimbaya is actively advancing three projects in the Antioquia Province: the Tahami Project in Segovia, the Berrio Project in Puerto Berrio and the Maitamac Project in Abejorral. Managed by an experienced team with deep local knowledge, Quimbaya is committed to creating value for its shareholders through strategic exploration and development initiatives.

About Denarius Metals

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol “DMET”. The Company also trades on the OTCQX Market in the United States under the symbol “DNRSF”.

In Colombia, Denarius Metals recently commenced mining operations at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca Belt, about 30 km southwest of Medellin.

In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has recently been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain.