Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) is pleased to announce further assay results for five directional diamond drill holes from its ongoing drilling program designed to discover and outline high-grade sub-zones within the bulk tonnage Au-Ag-Cu-W Apollo system. Apollo is the most advanced discovery made to date within the Company’s multi-target, Guayabales Project in Caldas, Colombia.

• A new high–grade sub-zone (“HZ2”), enriched in copper and silver, has been discovered in the Apollo system. HZ2, which remains open for expansion, is the second high-grade sub-zone found by the Company with assay results as follows:
  • 114.40 metres @ 4.14 g/t AuEq (1.06 g/t Au, 150 g/t Ag and 0.64% Cu) including; 
    • 57.25 metres @ 5.64 g/t gold equivalent (1.22 g/t Au, 221 g/t Ag and 0.89% Cu) in APC107-D5.
  • 159.05 metres @ 3.01 g/t AuEq (1.19 g/t Au, 98 g/t Ag and 0.43% Cu) including; 
    • 59.25 metres @ 5.01 g/t gold equivalent (1.63 g/t Au, 196 g/t Ag and 0.68% Cu) in APC107-D4.
• The original high-grade gold-rich sub-zone (“HZ1”) first announced by the Company on December 16, 2024, has been extended 50 metres to the west by hole APC107-D2, which cut:
  • 67.50 metres @ 5.38 g/t AuEq within 377.85 metres @ 2.13 g/t gold equivalent.
• HZ1 now has dimensions of 230 metres of strike, 70 metres in thickness and over 180 metres vertical and includes previously announced intercepts of 150.55 metres @ 6.16 g/t AuEq (APC104-D1) and 106.35 metres @ 9.05 g/t AuEq (APC104-D5) (see press releases dated December 16, 2024, and February 24, 2025). HZ1 remains open in most directions.
• A potential third high-grade sub-zone, which requires follow-up confirmation drilling, has been intersected northwest of HZ2 in drill hole APC107-D3 as follows:
  • 123.75 metres @ 3.03 g/t AuEq (1.24 g/t Au, 91 g/t Ag and 0.43% Cu).
• The Company continues to target up to 11 potential high-grade sub-zones throughout the top 1,000 metres of the Apollosystem with a goal of further improving the overall grade (and total mineral inventory).

Figure 1: Plan View of the Apollo System Highlighting Drill Holes in this Release (CNW Group/Collective Mining Ltd.)

Figure 2: Apollo Metal Zonation Over 1,200 Metres Highlighting High-Grade Sub-Zone 1 and Sub-Zone 2 (CNW Group/Collective Mining Ltd.)

Figure 3: Drill Core Tray Photo Highlighting a Section of Drill Hole APC107-D5 (CNW Group/Collective Mining Ltd.)

Figure 4: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)

The Company currently has nine drill rigs operating as part of its fully funded 70,000 metre drill program for 2025 with seven rigs operating at the Guayabales Project and two rigs turning at the San Antonio Project. Two additional deep capacity rigs are being mobilized to the Guayabales Project to resume testing the high-grade Ramp Zone located at the bottom of the Apollo system in Q3, 2025.

The 2025 objectives for the portion of the drilling program targeting the Apollo system are:

• Drill test newly modeled high-grade sub-zone targets scattered throughout the top 1,000 vertical metres from surface to improve the grade profile (and size) of the system.
• Grow the overall dimensions of the system by expanding vertically and laterally the recently discovered high-grade Ramp Zone and northern extension.
• Expand and define the area of outcropping/shallow mineralization and test many drilling gaps within the internal block model from surface to a depth of 150 metres.

Approximately 125,500 metres of diamond drilling has been completed to date at the Guayabales Project, including 87,000 metres at Apollo. There are currently twenty-five drill holes in the lab with assay results for most of these holes expected in the near term.

Ari Sussman, Executive Chairman commented: “Apollo continues to deliver in terms of size and grade. The discovery of HZ2 is pleasing as this zone is surprisingly rich in copper and silver over bulk tonnage drilled widths. If we continue to discovery new sub-zones of higher-grade mineralization within Apollo, the overall grade of the system will increase and will give us excellent mining flexibility to incorporate into future mine scenarios.

The next few months are going to be exciting as we are on the cusp of accelerating our largest greenfield drilling program in the Company’s history at the Guayabales and San Antonio projects. Up to four rigs will be drilling grassroot targets at Guayabales hunting for another Apollo system and up to an additional three rigs will be turning at San Antonio in search of a large bulk tonnage porphyry system. We believe there is another major discovery to be made between the two projects and our team is ready to deliver on this challenge.”

To watch a video of David Reading, Special Advisor to the Company and QP under NI43-101 explain today’s results please click on the link here.

Details (see Table 1 and Figures 1-4)

• A series of five directional drill holes, from new mother hole APC-107D (Pad17), continue to discover and outline high-grade sub-zones at shallow elevations in Apollo.

New High-Grade Sub-Zone Discovery 2 (“HZ2”)

• Holes APC107-D4 and APC107-D5 were drilled at the southern margin of the Apollo system and discovered a new high-grade sub-zone rich in copper and silver (“HZ2”). The following intercepts are highlighted for new high-grade sub-zone HZ2:
  • APC107-D4 intercepted 159.05 metres @ 3.01 g/t gold equivalent (1.19 g/t gold, 98 g/t silver and 0.43% copper) from 48.50 metres including:
    • 59.25 metres @ 5.01 g/t gold equivalent (1.63 g/t gold, 196 g/t silver and 0.68% copper) from 91.85 metres

  • APC107-D5 intersected 114.40 metres @ 4.14 g/t gold equivalent (1.06 g/t gold, 150 g/t silver and 0.64% copper) from 172.95 metres including:
    • 57.25 metres @ 5.64 g/t gold equivalent (1.22 g/t gold, 221 g/t silver and 0.89% copper) from 210.10 metres

HZ2 is open to the northeast and vertically with further follow up drilling planned.

High-Grade Sub-Zone 1 (“HZ1”)

• Drill hole APC107-D2 has also extended the first discovered and primarily gold rich, high-grade sub-zone HZ1 by 50 metres to the west by intercepting:
  • 67.50 metres @ 5.38 g/t gold equivalent within 377.85 metres @ 2.13 g/t gold equivalent (1.40 g/t gold, 37 g/t silver and 0.21% copper)

HZ1 now has dimensions of 230 metres of strike, 70 metres in thickness and over 180 metres vertical and includes previously announced intercepts of 150.55 metres @ 6.16 g/t AuEq in APC104-D1 and 106.35 metres @ 9.05 g/t AuEq in APC104-D5 (press releases dated December 16, 2024, and February 24, 2025)

• Drillhole APC107-D3 was drilled westward and intersected a potential third, high-grade sub-zone, to the west of HZ2 by intercepting:
  • 123.75 metres @ 3.03 g/t gold equivalent from 156.45 metres including:
    • 20.20 metres @ 5.15 g/t gold equivalent from 181.00 metres and
    • 18.55 metres @ 3.87 g/t gold equivalent from 236.50 metres
  • 49.30 metres @ 2.23 g/t gold equivalent from 336.65 metres

Follow up drilling is required to see if this potential new high-grade subzone extends to the north and vertically where it is open for expansion.

• Hole APC107-D1 was an infill hole into a gap in the block model and successfully intersected mineralization at a similar grade profile to the internal block model as follows:
  • 353.50 metres @ 1.94 g/t gold equivalent from 61.60 metres including:
    • 27.60 metres @ 3.01 g/t gold equivalent from 61.60 metres and
    • 30.05 metres @ 2.98 g/t gold equivalent from 217.95 metres and
    • 32.75 metres @ 2.20 g/t gold equivalent from 361.45 metres
• A significant backlog of drill holes are in the lab with results expected to be released consistently for the remainder of the year.

Table 1: Assays Results for Drill Holes APC107-D1, APC107-D2, APC107-D3, APC107-D4 and APC107-D5

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (WO₃ (%) x 4.84 x 0.72) utilizing metal prices of Au – US$2,200/oz, Ag – US$33/oz, Cu – US$4.62/lb and WO₃ – US$15.51/lb and recovery rates of 97% for Au, 85% for Ag, 95% for Cu and 72% for WO₃. Recovery rate assumptions for metals are based on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. True widths are unknown, and grades are uncut.

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com.

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The Company’s objectives are to improve the overall grade of the Apollo system by systematically drill testing newly modeled potentially high-grade sub-zones, expand the Apollo system by stepping out along strike to the north and expanding the newly discovered high-grade Ramp Zone along strike and to depth, and drill a series of less advanced or newly generated targets including Trap, the Knife and X. Additionally, the Company has launched its largest drilling campaign in history at the San Antonio Project as it hunts for a large bulk-tonnage porphyry system.

Management, insiders, a strategic investor and close family and friends own 44.5% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on both the NYSE and TSX under the trading symbol “CNL”.