Collective Mining drills 154.30 metres at 12.66 g/t AuEq, including 30.45 metres at 39.01 g/t AuEq at Apollo’s Ramp Zone, Colombia

Collective Mining Ltd. [NASDAQ; TSX: CNL] reported assay results for four directional diamond drill holes and their mother hole at the Ramp Zone of the Apollo deposit, part of its fully funded 2026 drilling program at the Guayabales Project in Caldas, Colombia. APC174-D4 intersected the broadest high-grade intercept drilled to date at the Ramp Zone, returned local grades above those estimated in the Mineral Resource, extended the predicted high-grade envelope both shallower and deeper, and ended in mineralization outside the Mineral Resource.

APC174-D4 intersected 154.30 metres at 12.66 g/t AuEq (12.44 g/t Au, 11 g/t Ag) from 1,208 metres below surface, including 30.45 metres at 39.01 g/t AuEq (38.47 g/t Au, 28 g/t Ag) from 1,339 metres below surface. It is the broadest high-grade intercept drilled to date at the Ramp Zone.

APC174-D4 crossed the southeastern portion of the Apollo breccia body from east to west, approximately perpendicular to the breccia contact, and its principal intercept returned grades locally over 75% higher than the estimated grades of the current Mineral Resource for the blocks it crossed, extending the high-grade envelope both shallower and deeper than predicted along the hole.

APC174-D4 bottomed in mineralization, with a final 12.20 metres at 0.75 g/t AuEq in sulphide-rich crackle breccia at approximately 650 metres above sea level (masl). This mineralization is outside the Mineral Resource, but drilling could not continue as the rig had reached its maximum capacity. Based on core inspection, the company interprets that the hole may have been entering a new mineralized chute within the breccia body.

Follow-up drilling with higher capacity rigs is planned. Drill holes to the north-northeast of APC174-D4 have intersected Ramp Zone-style sulphide mineralization in core logging, with visible gold in APC174-D7, APC164-D5 and APC180-D4, approximately 80 metres, 180 metres and 240 metres horizontally from APC174-D4 at 750 masl, respectively, and visible scheelite and gold in APC180-D3, approximately 410 metres away; assays are pending.

Construction of the planned approximately 3-km underground exploration adit is expected to commence this month. Once it reaches Apollo, the adit is designed to intersect the Ramp Zone at approximately 700 masl, or 1,350 metres below surface, in the core of the high-grade portion of the Ramp Zone’s Mineral Resource.

Ari Sussman, Executive Chairman, commented: “Every great gold deposit reaches a point where the drill stops confirming expectations and starts expanding them. APC174-D4 is that kind of hole: it cut through the heart of Apollo’s Ramp Zone, with grades locally well ahead of what our Mineral Resource estimate predicted. This hole did not run out of gold; it ran out of rods. The core at the bottom suggests we may have been entering a new mineralized chute, and our new track-mounted rigs are built to follow it toward sea level, roughly 650 vertical meters below where this hole ended. We believe the Ramp Zone is only beginning to show us its true potential.”

To date, Collective has received assays for 207,500 metres of diamond drilling across the Guayabales and San Antonio projects, including results for 146,500 metres at the flagship Apollo deposit, which anchors the Guayabales Project. Assay results for 71 drill holes are outstanding at the Guayabales Project, including 17 from the Ramp Zone.

The Company is fully funded for its planned 2026 program, which envisions up to 90,000 metres of drilling.

The company presently has 13 diamond drill rigs operating across the Guayabales Project. The first track-mounted rig for deep drilling is now operating on site, and a second is expected later this month. The company intends to drill the Ramp Zone down to sea level (a depth of approximately 2 km from surface) in 2027. The company’s planned approximately 3-km underground exploration adit on which construction is expected to commence this month, is designed to intersect the Ramp Zone at approximately 700 masl, approximately 1,350 metres below surface, in the core of the high-grade portion of the Mineral Resource. This will allow the Ramp Zone to be drilled from underground with substantially shorter holes than from surface. An updated Mineral Resource incorporating approximately 100,000 metres of additional drilling is expected between Q4 2027 and Q1 2028, followed by a Preliminary Economic Assessment shortly thereafter.

Mother hole APC174-D was drilled from Pad 39 toward the west, and four directional daughter holes, APC174-D1 to APC174-D4, were subsequently drilled from different points along it. All four daughter holes tested within the Mineral Resource boundaries of Ramp in the southeastern portion of the Apollo breccia body.

The Ramp Zone is a high-grade gold zone within the breccia body, commencing at approximately 1,000 masl. At the Ramp Zone, mineralization occurs with pyrite and pyrrhotite, accompanied by minor bismuth, tellurium and locally arsenopyrite-bearing sulphides, hosted in veinlet stockworks, cracks and miarolitic cavities of the breccia body. Alteration is dominated by albite, actinolite, muscovite, and epidote.

To date, the Mineral Resource for Ramp covers only the southeastern portion of the breccia body, which is defined over approximately 315 metres of strike, 120 metres of width and 350 vertical metres, and hosts 0.20 million ounces AuEq Indicated (1.29 Mt at 4.74 g/t AuEq) and 1.04 million ounces AuEq Inferred (6.04 Mt at 5.37 g/t AuEq), reported underground below 1,000 masl at a 1.5 g/t AuEq cut-off.

Ramp Zone: APC174-D4: APC174-D4 crossed the Ramp Zone from east to west, approximately perpendicular to the breccia contact, and intersected a continuous zone of high-grade mineralization over 154.30 meters. Assay results are as follows:

APC174-D4: 154.30 metres at 12.66 g/t AuEq (12.44 g/t Au, 11 g/t Ag) from 1,208 metres below surface, including 30.45 metres at 39.01 g/t AuEq (38.47 g/t Au, 28 g/t Ag) from 1,339 metres below surface, including 4.75 metres at 184.25 g/t AuEq (182.27 g/t Au, 102 g/t Ag) from 1,352 metres below surface; 12.20 metres at 0.75 g/t AuEq (0.71 g/t Au, 2 g/t Ag) from 1,384 metres below surface to the end of the hole

The principal intercept is characterized by strong, pervasive albite alteration, which gives the core a distinctive white, bleached appearance; the company interprets this alteration as indicating a higher-temperature part of the Apollo system. Sulphides, dominated by pyrrhotite and pyrite, occur as veinlets and disseminated impregnations throughout the crackle breccia. Gold grades track sulphide content: nearly all the gold in the intercept is hosted in sulphide-rich crackle breccia.

At 154.30 metres at 12.66 g/t AuEq, it is the broadest high-grade intercept the company has drilled to date at the Ramp Zone. It is nearly twice the length of APC150-D1, which intersected 83.75 metres at 21.14 g/t Au from 1,335 metres below surface (announced March 29, 2026).

The principal intercept lies largely within the Mineral Resource and returned grades locally more than 75% higher than the estimated grades of the corresponding blocks. Along its path, the Mineral Resource estimate predicted high-grade mineralization (≥5 g/t AuEq) between approximately 790 masl and 740 masl.

APC174-D4 intersected high-grade mineralization from approximately 810 masl down to 710 masl, extending the high-grade envelope approximately 20 meters shallower and 30 metres deeper than predicted at this location. The included 30.45 metres at 39.01 g/t AuEq lies entirely below the predicted high-grade zone, in blocks estimated at approximately 1 g/t AuEq. This comparison is local, is presented for geological context only, and does not represent an update to the Mineral Resource. APC174-D4 post-dates the drill database cut-off date and was not used in the Mineral Resource estimate.

APC174-D4 ended in mineralization at 601.95 metres down hole (approximately 650 masl), where the drill rig reached its rod capacity, with a final 12.20 metres at 0.75 g/t AuEq outside the Mineral Resource. The final interval is hosted in sulphide-rich crackle breccia and based on core inspection, the company interprets that the hole may have been entering a new mineralized chute within the breccia body (Figure 2). This mineralization remains open at depth and will be followed up with the Company’s track-mounted deep-drilling rigs.

Ramp Zone: APC174-D1, APC174-D2 and APC174-D3: APC174-D1 extended the interpreted eastern contact of the breccia body by approximately 21 metres and intersected multiple intervals of Ramp Zone mineralization, including one interval with elevated copper and tungsten (0.34% Cu, 0.25% WO₃). APC174-D2 intersected a broad zone of Ramp Zone mineralization at depth, and APC174-D3 intersected a narrow post-mineral dyke through part of its target zone, returning 1.20 metres at 5.11 g/t AuEq. Assay results are as follows:

APC174-D1: 8.60 metres at 3.28 g/t AuEq (3.12 g/t Au, 5 g/t Ag, 0.05% Cu) from 1,091 metres below surface; 1.20 metres at 8.43 g/t AuEq (8.36 g/t Au, 4 g/t Ag) from 1,123 metres below surface; 3.05 metres at 9.10 g/t AuEq (4.70 g/t Au, 6 g/t Ag, 0.34% Cu, 0.25% WO₃) from 1,262 meters below surface; 4.25 metres at 7.61 g/t AuEq (7.58 g/t Au, 2 g/t Ag) from 1,298 metres below surface.

APC174-D2: 1.10 metres at 8.18 g/t AuEq (8.03 g/t Au, 8 g/t Ag) from 1,158 metres below surface; 8.00 metres at 3.74 g/t AuEq (3.56 g/t Au, 7 g/t Ag, 0.05% Cu) from 1,271 metres below surface

19.90 m @ 3.97 g/t AuEq (3.68 g/t Au, 13 g/t Ag, 0.04% Cu) from 1,350 meters below surface.

APC174-D3: 1.20 metres at 5.11 g/t AuEq (5.07 g/t Au, 2 g/t Ag) from 1,216 metres below surface. Above the Ramp Zone, APC174-D1 and mother hole APC174-D also intersected new, narrow gold veins outside the Mineral Resource.

Approximately 590 metres of the interpreted 1.5-km circumference of the Apollo breccia body at depth has now been tested for Ramp Zone mineralization, including previously reported drilling in its southeastern, western and northwestern areas. By comparison, only approximately 315 metres (approximately 21%) of this circumference had sufficient drilling density for inclusion in the maiden Mineral Resource. Readers are cautioned that the expanded drilling coverage does not, by itself, establish an extension of the Mineral Resource.

Drilling inside and outside the Mineral Resource boundaries has intersected Ramp Zone-style sulphide mineralization in core logging at multiple locations, including visible gold in APC174-D7, APC164-D5 and APC180-D4, approximately 80 metres, 180 metres and 240 metres horizontally north-northeast of APC174-D4 at 750 masl, respectively, and visible scheelite with gold in APC180-D3, approximately 410 metres away. Visual observations are not a substitute for assay results and should not be interpreted as indicative of grade.

The Ramp Zone is interpreted as a later-stage, higher-temperature vein system, younger than the sulphide-rich breccia fill and related to a reduced intrusion-related gold system, with mineralogical similarities to the nearby Marmato Lower Mine, owned by Aris Mining. The two systems, approximately 1.75 km apart, commence at broadly similar elevations and host very similar gold- and silver-bearing sulphide assemblages. The Ramp Zone reflects vertical zonation within Apollo: with depth, temperatures increase and the carbonate base metal veins that dominate higher levels diminish.

A key distinguishing feature of Ramp Zone-style mineralization is the occurrence of higher gold grades relative to publicly reported results from the Marmato Lower Mine. The company attributes these locally higher grades primarily to the higher porosity of the host rock: mineralization at the Ramp Zone is emplaced within a porous crackle breccia matrix, which provides greater permeability for metal-bearing fluids compared to the porphyry host rock at the Marmato Lower Mine.

Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The company’s two projects are located directly within an established mining camp with ten fully permitted and operating mines.

The company’s flagship project, Guayabales, is anchored by Apollo, a large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten deposit that hosts a maiden Mineral Resource of 2.58 million ounces AuEq Indicated (37.0 Mt at a grade of 2.17 g/t AuEq: 1.38 g/t Au, 24.4 g/t Ag, 0.14% Cu and 0.011% WO₃) and 2.83 million ounces AuEq Inferred (48.2 Mt at a grade of 1.83 g/t AuEq: 1.60 g/t Au, 8.39 g/t Ag, 0.03% Cu and 0.002% WO₃).

The company’s objectives at the Guayabales Project are to continue expansion and infill drilling at Apollo while advancing technical, environmental and permitting work across the project.

Management, insiders, a strategic investor and close family and friends own 45.2% of the outstanding shares of the company and, as a result, are fully aligned with shareholders.