Collective Mining drills 54.55 metres at 7.04 g/t gold and 16 g/t silver at Guayabales Project, Colombia

Collective Mining Ltd. [NYSE: CNL; TSX: CNL] reported assay results for a portion of a directional diamond drill hole designed to continue evaluating and expanding the high-grade Ramp Zone along strike and at depth. The Ramp Zone is located at the base of the Apollo system starting at approximately 1,000 metres above sea level (MASL) and ideally positioned at the same elevation as an envisioned underground access tunnel in a potential future mining operation.

Apollo is a large, partially reduced intrusion related system enriched in gold, silver, copper and tungsten. Drilling to date at Apollo has outlined continuous mineralization from surface to, as of today, more than 1,450 vertical metres. Apollo anchors the company’s flagship Guayabales Project, a district-scale, multi-target and infrastructure-rich project in Caldas, Colombia.

Ari Sussman, Executive Chairman, commented: “An amazing opening salvo for Ramp Zone hole APC150-D1, which has cut broad and continuous high-grade mineralization. With visible gold scattered in places throughout the remaining 370 metres of core, including a striking cluster near the bottom, we eagerly anticipate assays that could yield one of our strongest intercepts yet, while extending the system’s strike and depth. Equally thrilling is the visual confirmation of Ramp-style mineralization drilled on the western breccia margin in hole APC140-D5, which may confirm our hypothesis that high-grade gold could encircle the outer margins of the entire breccia body. With three rigs already operating at Ramp and two more on the way, combined with our robust cash position, we are well-positioned to aggressively expand this system in 2026 and unlock its full potential.”

Highlights: High-grade intercept at the Ramp Zone with hole APC150-D1 intersecting 54.55 metres at 7.04 g/t gold and 16 g/t silver from 378.65 metres down deflection (1,255 metres down hole from mother hole collar), including 17.85 metres at 11.37 g/t gold and 22 g/t silver and bottoming in high-grade with the final assay result received thus far from the lab averaging 1 metre at 26.70 g/t gold and 67 g/t silver.

Multiple instances of visible gold have been logged in select locations across the remaining 370.25 metres of core and await assay results, including near the bottom of the hole. If mineralized, this would position APC150-D1 as the deepest and northeasternmost intercept ever recorded at Ramp.

Visual logging of hole APC140-D5, the first hole ever drilled at depth on the western margin of the breccia body, has intersected at least 20 metres of Ramp Zone style of mineralization. If assay results confirm the presence of gold in this core section (expected in late March), it would validate the hypothesis that Ramp Zone mineralization has the potential to extend beyond the southeast breccia margin and could encircle the breccia’s entire circumference. As a reminder, to date the company has confirmed that high-grade gold in the Ramp Zone covers 315 metres of the outer, southeast breccia margin with an additional 1,200 metres of outer breccia margin still to be drill tested.

Aggressive Drilling Ramp-Up: Three deep-capacity diamond rigs are currently operating at the Ramp Zone, with two additional deep-capacity rigs anticipated to arrive on site over the course of the next month.

To date, Collective has completed 168,000 metres of diamond drilling across the Guayabales and San Antonio projects, including 110,500 metres at the flagship Apollo system.

With US$135 million in cash (as of December 1, 2025), the company is fully funded for its planned 2026 program, which envisions up to 100,000 metres of additional drilling. Up to 14 rigs are anticipated to be operating across both projects before the end of Q1, 2026, with numerous high-priority holes pending assay results.

Hole APC150-D1 was drilled in a northernly direction as a wedge directional hole from mother hole APC-150D (Pad 34) and potentially extended the Ramp Zone along strike and depth. Assays results received to date, covering only the top portion of the hole, are as follows 11.30 metres at 3.04 g/t gold and 9 g/t silver from 333.45 metres down deflection and 54.55 metres at 7.04 g/t gold and 16 g/t silver from 378.65 metres down deflection, including 17.85 metres @ 11.37 g/t gold and 22 g/t silver.

Assay results for the outstanding 370.25 metres of drill core are expected before the end of March.

Hole APC140-D5, drilled to the southwest as a directional hole from mother hole APC-140D (Pad 29), was designed to test the western margin of the breccia body for Ramp Zone style mineralization at elevations between 800-900 MASL. Drill core logging indicates that more than 20 metres of potential Ramp Zone style mineralization has been intersected, with assay results anticipated in late March.

The Ramp Zone, which starts at approximately 1,000 MASL, is classified as a reduced intrusion-related gold system with similarities, in terms of mineralogy, to the nearby Marmato Deeps deposit, owned by Aris Mining. Located just 1.75 km apart, both the Ramp and Marmato Deep systems commence at the same elevation and host very similar gold-and-silver-bearing sulphide assemblages.

At 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 muscovite, albite, and sericite.

A key distinguishing feature at Ramp is the significantly higher gold grades encountered to date compared to Marmato Deeps. The company attributes this superior grade profile primarily to the host rock: mineralization at the Ramp Zone is emplaced within a porous crackle breccia matrix, which provides greater permeability for metal-bearing fluids than the porphyry host rock at Marmato Deeps.

Information presented here regarding the Marmato Lower Mine is derived from the NI 43-101 compliant technical report titled “Technical Report for the Marmato Gold Mine, Caldas Department, Colombia, PFS of the Lower Mine Expansion Project,” with an effective date of June 30, 2022 (filed November 23, 2022).