Cornerstone investor brings proven regional track record; company now fully funded into 2026 for multi-project advancement in Colombia

Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) is pleased to announce the closing of its upsized non-brokered private placement of 11,525,299 units of the Company at a price of C$0.35 per Unit for gross proceeds of $4,033,854.

Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant. Each Warrant entitles the holder to acquire one Share at a price of C$0.60 per Share for a period of 36 months expiring on July 4, 2028.

As previously disclosed, the upsizing was driven by a single investor group with a long-term outlook and a successful track record of supporting exploration and development projects in South America. The Company views this as a strong endorsement of its team, strategy, and pipeline of high-potential assets across Colombia’s Antioquia district.

“With this raise, we are now well-funded into 2026,” said Alexandre P. Boivin, President & CEO. “These funds will allow us to deepen our work at the Tahami South project while expanding efforts across the broader portfolio. We’re committed to smart, disciplined execution and are very encouraged by the high conviction backing we’ve received.”

The proceeds from the Offering will be used to advance the Company’s exploration programs, including drilling at the Tahami South project and follow-up work on regional copper-gold and gold targets, as well as for general working capital.

Clarification on Finder’s Fees and Warrants

The Company wishes to clarify that a cash commission of $16,800 was paid and 48,000 broker warrants were issued in connection with the Offering. However, as previously disclosed, no commissions or other broker compensation were paid on the strategic investment that drove the upsizing.

In connection with the Offering, the Shares, Warrants and broker warrants are subject to a four-month and one-day hold period expiring on November 4, 2025.

Insider Participation

Certain insiders of the Company participated in the Offering subscribing for an aggregate of 435,714 units for an aggregate subscription amount of $152,500. Each of the subscriptions from insiders constitutes a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) thereof, respectively, as the common shares of the Company are not listed on a specified market and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

Appointment of Vice President, Business Development

Quimbaya is further pleased to announce the appointment of Sebastian Wahl as Vice President, Business Development. Mr. Wahl has served on the Company’s Board of Directors for the past six months and has played a pivotal role in shaping its strategic direction and external positioning.

Given his contributions to date and the Company’s growth trajectory, Mr. Wahl’s transition into an executive role is both timely and natural. As VP of Business Development, he will work closely with the CEO on capital markets initiatives, strategic partnerships, and internal structuring to ensure the Company is well-positioned for its next phase of growth.

“Sebastian brings an exceptional network and a sharp sense of capital markets strategy,” said Alexandre P. Boivin, President & CEO. “His insight and drive have already proven instrumental at the board level, and we’re excited to now have his energy full-time as we accelerate our momentum.”

Mr. Wahl’s appointment reinforces Quimbaya’s commitment to building a high-caliber leadership team capable of advancing its ambitious vision in Colombia and delivering value to shareholders.

Grant of Incentive Securities

The Company also announces that it has granted an aggregate of 1,730,000 restricted share units and 1,655,000 stock options to certain directors, officers, advisors, and consultants of the Company in accordance with its long-term performance incentive plan. The stock options are exercisable at $0.50 per share for a period of three years.

About Quimbaya

Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.