CNL.TO · 2026-08-18 10:30:00

Collective Mining Advances Guayabales Exploration Adit Toward Q4-2026 Construction; Underground Drilling at Trap to Commence in Q1-2027 - PR Newswire Canada

A 1.8-kilometer switch-back access road connecting the Pan American Highway to the proposed exploration adit portal has been completed; portal platform and box-cut activities are set to begin immediately
With all required permits in hand, construction of the exploration adit remains on track to commence in Q4-2026
Underground exploration drilling is expected to begin in Q1-2027 at the newly identified Trap East greenfield target, marking the start of an underground exploration program designed to systematically test Trap, Apollo's Ramp Zone and Plutus

MIAMI, Aug. 18, 2026 /CNW/ -- Collective Mining Ltd. (NASDAQ: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to report that considerable progress has been made across the engineering, site preparation, and operational readiness workstreams required to support the development of the exploration adit at the Company's Guayabales Project in Caldas, Colombia. With the 1.8-kilometer access road now complete, the Company is advancing immediately into portal platform and box-cut activities. The exploration adit is on schedule for commencement of construction in Q4-2026 and underground exploration drilling at Trap beginning in Q1-2027.

Figure 1: Conceptual Illustration of the 3-Kilometer Long Exploration Adit at the Guayabales Project - Note: Internal engineering studies for the exploration adit have not been independently reviewed by a QP and are not supported by a technical report or other study prepared in accordance with NI 43-101.

Figure 2: Plan View of the Trap System Highlighting the Location of the Underground Exploration Adit, Trap Cross-Cut and Proposed Drilling Chambers to Test the Trap East Greenfield Target and Trap Main System

Figure 3: Plan View of the Guayabales Project Highlighting Various Targets and the Location of the 3-Kilometer Underground Exploration Adit for Which Construction Will Begin in Q4, 2026

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