Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) announced today that the Company has given notice of termination to Quimbaya Gold Inc. of the previously announced letter of intent. Following the completion of its due diligence and analysis, the Company has decided not to proceed with the proposed 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.

Serafino Iacono, Executive Chairman of Denarius Metals, commented, “Our team has considerable experience in exploration, mining and community relations in Colombia, particularly in the Segovia Gold District. After carrying out our extensive due diligence process, we do not see the circumstances in the area that will enable us to implement the small-scale mining operations in a manner that we believe will provide the social right to operate through a joint venture relationship with Quimbaya.”

About Denarius Metals

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and 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 commenced mining operations in the second quarter of 2025 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 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.