Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) announced that it has entered into a binding term sheet with Copper Giant Resources Corp. (TSX-V: CGNT) (OTCQB: LBCMF) (FRA: 29H0) under which the Company will make a strategic equity investment in Copper Giant through a non-brokered private placement. The Copper Giant Financing will generate aggregate gross proceeds of approximately CA$31.0 million, with a lead order from the Company of CA$28.8 million to acquire a 15.6% equity interest in Copper Giant on closing. Frank Giustra and Ian Harris, President and Chief Executive Officer of Copper Giant, are also participating in the Copper Giant Financing.Copper Giant also concurrently announced today an offtake agreement with Trafigura Pte Ltd. described in more detail below.

Serafino Iacono, Executive Chairman of Denarius Metals, commented, “We know Colombia and we know what it takes to move a project from resource to operation. Copper Giant’s Mocoa Project stands out for its scale, its copper-molybdenum endowment and its potential importance to Colombia’s mining future. We are investing as a long-term partner because we believe Copper Giant has the asset and the team to advance it responsibly.”

Ian Harris, President and Chief Executive Officer of Copper Giant, commented, “This transaction changes the trajectory of Mocoa. Denarius Metals’ investment gives us the capital to move through the PEA and accelerate the next phase toward a construction decision, while Trafigura provides a long-term route to global markets. Together, these partners bring Colombian operating experience, market reach and long-term alignment at a pivotal moment for copper and for Colombia.”

Edmundo Vidal, Director Latin America of Trafigura, added, “Colombia has the geological conditions and the opportunity to become an important copper producer. We are pleased to see projects like Mocoa develop, especially given the country’s recognition of copper as a strategic mineral. Our long-term offtake at Mocoa reflects both our confidence in the project, and our strategy of working with producers to bring new supply to customers around the world.”

Highlights

• World class deposit: Copper Giant’s current focus is the Mocoa copper-molybdenum deposit located in the Putumayo Department of southern Colombia. With an inferred mineral resource of 1.1 billion tonnes at 0.51% CuEq* (0.31% Cu and 0.039% Mo), Mocoa hosts one of the largest undeveloped copper-molybdenum deposits in the Americas containing 7.6 billion pounds of copper and 1.0 billion pounds of molybdenum. The Mocoa project sits within a larger porphyry copper belt with significant district-scale exploration potential. The deposit extends over 2.0 kilometers in strike length and remains open in multiple directions. Recent drilling has identified new high-grade zones. The project benefits from excellent infrastructure including road access, nearby communities and proximity to power lines.
• Strategic investment: Denarius Metals has agreed to subscribe for 40,000,000 common shares at CA$0.72 per share for a total investment of CA$28.8 million. Following closing of the Copper Giant Financing, the Company will have a 15.6% equity interest in Copper Giant. Federico Restrepo-Solano, Chief Executive Officer of the Company, will be appointed to Copper Giant’s advisory board.
• Shareholder alignment: Denarius Metals, Frank Giustra and Ian Harris have each agreed to enter into two-year lock-up arrangements in connection with the Copper Giant Financing.
• Use of proceeds: Proceeds of the Copper Giant Financing will be directed at the next phase of work at the Mocoa Project, beyond the Preliminary Economic Assessment currently underway and toward a construction decision, including resource conversion drilling, district-scale exploration, and the geotechnical, hydrogeological and environmental programs required to support project advancement, together with general corporate purposes.
• External validation through long-term offtake agreement: Concurrent with the Copper Giant Financing, Copper Giant has announced that it will grant Trafigura the right and obligation to purchase 20% of the copper concentrate and 20% of the molybdenum concentrate produced from the Mocoa Project for a period of ten years from the commencement of commercial production. The long-term offtake agreement was entered into by Copper Giant and Trafigura on arm’s-length market terms, subject to minimum delivered volumes over the period, failing which Trafigura may elect to extend the term.

It is expected that closing of the Copper Giant Financing will occur on or about August 21, 2026. The common shares acquired by the Company will be subject to a four-month-and-one-day hold period. On closing, Denarius Metals will become a new insider of Copper Giant pursuant to Canadian securities laws and will be subject to all insider filings.

Completion of the Copper Giant Financing is subject to the execution of definitive documentation, the respective internal and corporate approvals of each party, including any Board or shareholder approval, if required, and the approval of the TSX Venture Exchange. There can be no assurance that the Copper Giant Financing will be completed as proposed or at all.

Denarius Metals Private Placement

Denarius Metals also announced today that it will be completing a concurrent non-brokered private placement with Trafigura, raising approximately CA$28.8 million in cash to be used by the Company to fund its strategic investment in Copper Giant. Pursuant to the Denarius Financing, Trafigura will acquire 67,000,000 common shares of the Company at CA$0.43 per share and 12,500,000 common share purchase warrants with an exercise price of CA$0.60 per share expiring three years after closing of the Denarius Financing. The common shares and warrants acquired by Trafigura in the Denarius Financing will be subject to a four-month-and-one-day hold period. On closing, Trafigura will own approximately 14.9% of the Company’s issued and outstanding common shares, becoming a new insider of the Company pursuant to Canadian securities laws and will be subject to all insider filings.

It is expected that closing of the Denarius Financing will occur on or about August 21, 2026. Completion of the Denarius Financing is subject to the execution of definitive documentation, the respective internal and corporate approvals of each party, including any Board or shareholder approval, if required, and the approval of the Cboe Canada Exchange. There can be no assurance that the Denarius Financing will be completed as proposed or at all.

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 is producing gold and silver in an “early production” phase at its 100%-owned Zancudo Project while it completes construction of a 1,000 tonnes per day processing plant that is expected to start producing high-grade gold-silver concentrates in the fourth quarter of 2026. The Zancudo Project is a high-grade gold-silver deposit, which includes the historic producing Independencia mine, and is 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 21.8% 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.

Denarius Metals entered into a strategic collaboration in early 2026 as JV partners with ProGrowth Ltd. Company, a Saudi-based diversified group of companies, focused on the processing, smelting and commercialization of material sourced from the Company’s projects and to identify, acquire, develop and operate gold and nickel mining concessions within the KSA.

About Copper Giant

Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition, responsibly, efficiently, and with long-term positive impact.

The Company is led by a team with uncommon experience, having successfully taken some of the few major copper mines developed in the past two decades from discovery through to construction. Copper Giant’s current focus is the Mocoa copper-molybdenum deposit in southern Colombia, one of the largest undeveloped resources of its kind in the Americas. Recent exploration success has revealed potential well beyond its original footprint, highlighting Mocoa as a broader district-scale opportunity, and the catalyst for the Company’s name and evolution.

Guided by the values of respect and responsibility, and grounded in its Good Neighbor philosophy, Copper Giant is committed to creating enduring value for all stakeholders and playing a meaningful role in the global energy transition.

About the Mocoa Project

The Mocoa Project is located in Colombia’s Department of Putumayo, approximately 10 kilometres from the town of Mocoa in the country’s south. Copper Giant controls more than 128,300 Ha of district-scale tenure through granted titles and applications, covering a significant portion of the Jurassic porphyry belt—an underexplored and highly prospective metallogenic corridor within the northern Andes.

Mocoa was first identified in 1973 through a regional geochemical survey conducted by the United Nations and the Colombian government. Follow-up programs between 1978 and 1983 included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Subsequent drilling by B2Gold in 2008 and 2012 refined the geological interpretation and confirmed the large scale of the system.

The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics of the Central Cordillera, a 30-kilometre-wide tectonic belt that extends into Ecuador and also contains major porphyry systems such as Mirador, Warintza, San Carlos, and Panantza. Mocoa exhibits classic porphyry-style zonation with a potassic core surrounded by sericite and propylitic alteration. Mineralization consists principally of disseminated chalcopyrite and molybdenite, accompanied locally by bornite and chalcocite, and is associated with stockwork veining and hydrothermal breccias.

A distinguishing geological feature of Mocoa is the presence of a fertile magmatic window spanning roughly ten million years, a prolonged and unusually productive interval of magma generation and evolution that is not commonly observed in other Jurassic porphyry systems within the same belt. This extended fertile period provides a compelling explanation for the system’s large metal endowment, broad alteration footprint, and overlapping intrusive and hydrothermal events.

The deposit demonstrates more than 1,100 metres of vertical continuity, with multiple intrusive phases, brecciation episodes, and vein generations reflecting a dynamic and long-lived magmatic–hydrothermal evolution, likely influenced by more than one porphyry center. Mocoa remains open along several directions and several satellite targets across the broader land package support the interpretation of a district-scale mineralized system.

Notes on the Mocoa Project Mineral Resource Estimate

The Mocoa Project MRE was completed by Kevin Hon, B.Sc., P.Geo., Senior Resource Geologist, and Warren Black, M.Sc., P.Geo., Senior Consultant: Mineral Resources and Geostatistics, both of APEX. Mr. Hon and Mr. Black are independent Qualified Persons, as defined by NI 43-101, and are responsible for the completion of the Mineral Resource Estimate, with an effective date of November 18, 2025. Michael Dufresne, M.Sc., P.Geo., President & CEO of APEX, completed a peer review of the estimate.

1. Reference should be made to the NI 43-101 Technical Report, entitled “Technical Report and Updated Mineral Resource Estimate for The Mocoa Project, Putumayo Department, Colombia“, dated January 8, 2026, prepared by Michael Dufresne (P.Geo, P.Geol, MSc), Warren Black (MSc, P.Geo), Kevin Hon (BSc, P.Geo) and Chester de Leon (P.Eng), with an effective date of December 23, 2025. The Mineral Resource Estimate contained in that report has an effective date of November 18, 2025.
2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
3. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
4. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could potentially be upgraded to an Indicated Mineral Resource with continued exploration.
5. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
6. Economic assumptions used include US$4.00/lb Cu, US$20.00/lb Mo, process recoveries of 90% for Cu and 95% for Mo, a US$10/t processing cost, G&A costs of US$1.00/t, and a 3% NSR royalty
7. CuEq* values are calculated using a Cu-to-Mo value ratio of 1:5.278, incorporating both metal prices and metallurgical recoveries.
8. The constraining pit optimization parameters include a US$2.5/t mining cost for both mineralized and waste material and 45° slopes. Pit-constrained Mineral Resources are reported at a cutoff of 0.25% CuEq*.