CNL.TO · 2024-12-16 12:00:00

Collective Mining Discovers a New Copper- Silver Rich Sub-Zone in Apollo, Intersecting 114.40 metres at 4.14 g/t Gold Equivalent A new high–grade sub-zone ("HZ2"), enriched in copper and silver, has been discovered in the

Drill Results

Collective Mining Discovers a New Copper-

Silver Rich Sub-Zone in Apollo, Intersecting

114.40 metres at 4.14 g/t Gold Equivalent

A new high–grade sub-zone ("HZ2"), enriched in copper and silver, has been discovered

in the

Apollo

system. HZ2, which remains open for expansion, is the second high-grade

sub-zone found by the Company with assay results as follows:

114.40 metres @ 4.14 g/t AuEq (

1.06 g/t Au, 150 g/t Ag and 0.64% Cu

) including;

57.25 metres @ 5.64 g/t gold equivalent (1.22

g/t Au, 221 g/t Ag and 0.89% Cu)

APC107-D5.

159.05 metres @ 3.01 g/t AuEq (

1.19 g/t Au, 98 g/t Ag and 0.43% Cu

) including;

59.25 metres @ 5.01 g/t gold equivalent (1.63

g/t Au, 196 g/t Ag and 0.68% Cu)

APC107-D4.

The original high-grade gold-rich sub-zone ("HZ1") first announced by the Company on

December 16, 2024

, has been extended 50 metres to the west by hole APC107-D2, which

cut:

67.50 metres @ 5.38 g/t AuEq within 377.85 metres @ 2.13 g/t gold equivalent.

HZ1 now has dimensions of

230 metres of strike, 70 metres in thickness and over 180

metres vertical

and includes previously announced intercepts of 150.55 metres @ 6.16

g/t AuEq (APC104-D1) and 106.35 metres @ 9.05 g/t AuEq (APC104-D5) (see press

releases dated

December 16, 2024

, and

February 24, 2025

HZ1 remains open in most

directions.

A potential third high-grade sub-zone, which requires follow-up confirmation drilling, has

been intersected northwest of HZ2 in drill hole APC107-D3 as follows:

123.75 metres @ 3.03 g/t AuEq (

1.24 g/t Au, 91 g/t Ag and 0.43% Cu

The Company continues to target up to 11 potential high-grade sub-zones throughout

the top 1,000 metres of the

Apollo

system with a goal of further improving the overall

grade (and total mineral inventory).

TORONTO

June 24, 2025

/CNW/ -

Collective Mining Ltd.

(NYSE: CNL) (TSX: CNL)

("Collective"

or the "Company")

is pleased to announce further assay results for five directional diamond drill

holes from its ongoing drilling program designed to discover and outline high-grade sub-zones within

the bulk tonnage Au-Ag-Cu-W Apollo system ("Apollo").

Apollo

is the most advanced discovery made

to date within the Company's multi-target, Guayabales Project in Caldas,

Colombia

The Company currently has nine drill rigs operating as part of its fully funded 70,000 metre drill

program for 2025 with seven rigs operating at the Guayabales Project and two rigs turning at the

San Antonio Project. Two additional deep capacity rigs are being mobilized to the Guayabales

Project to resume testing the high-grade Ramp Zone located at the bottom of the

Apollo

system in

Q3, 2025.

The 2025 objectives for the portion of the drilling program targeting the

Apollo

system are:

Drill test newly modeled high-grade sub-zone targets scattered throughout the top 1,000 vertical

metres from surface to improve the grade profile (and size) of the system.

Grow the overall dimensions of the system by expanding vertically and laterally the recently

discovered high-grade Ramp Zone and northern extension.

Expand and define the area of outcropping/shallow mineralization and test many drilling gaps

within the internal block model from surface to a depth of 150 metres.

Approximately 125,500 metres of diamond drilling has been completed to date at the Guayabales

Project, including 87,000 metres at

Apollo

. There are currently twenty-five drill holes in the lab with

assay results for most of these holes expected in the near term.

Ari Sussman

, Executive Chairman commented: "

Apollo

continues to deliver in terms of size and

grade. The discovery of HZ2 is pleasing as this zone is surprisingly rich in copper and silver over bulk

tonnage drilled widths. If we continue to discovery new sub-zones of higher-grade mineralization

within

Apollo

, the overall grade of the system will increase and will give us excellent mining flexibility

to incorporate into future mine scenarios.

The next few months are going to be exciting as we are on the cusp of accelerating our largest

greenfield drilling program in the Company's history at the Guayabales and

San Antonio

projects. Up

to four rigs will be drilling grassroot targets at Guayabales hunting for another

Apollo

system and up

to an additional three rigs will be turning at

San Antonio

in search of a large bulk tonnage porphyry

system. We believe there is another major discovery to be made between the two projects and our

team is ready to deliver on this challenge."

To watch a video of

David Reading

, Special Advisor to the Company and QP under NI43-101 explain

today's results

please click on the link

here

Details (see Table 1 and Figures 1-4)

A series of five directional drill holes, from new mother hole APC-107D (Pad17), continue to

discover and outline high-grade sub-zones at shallow elevations in

Apollo

New High-Grade Sub-Zone Discovery 2 ("HZ2")

Holes APC107-D4 and APC107-D5 were drilled at the southern margin of the

Apollo

system

and discovered a new high-grade sub-zone rich in copper and silver ("HZ2"). The following

intercepts are highlighted for new high-grade sub-zone HZ2:

APC107-D4 intercepted 159.05 metres @ 3.01 g/t gold equivalent (1.19 g/t gold, 98

g/t silver and 0.43% copper) from 48.50 metres including:

59.25 metres @ 5.01 g/t gold equivalent (1.63 g/t gold, 196 g/t silver and 0.68%

copper) from 91.85 metres

APC107-D5 intersected 114.40 metres @ 4.14 g/t gold equivalent (1.06 g/t gold, 150

g/t silver and 0.64% copper) from 172.95 metres including:

57.25 metres @ 5.64 g/t gold equivalent (1.22 g/t gold, 221 g/t silver and 0.89%

copper) from 210.10 metres

HZ2 is open to the northeast and vertically with further follow up drilling planned.

High-Grade Sub-Zone 1 ("HZ1")

Drill hole APC107-D2 has also extended the first discovered and primarily gold rich, high-grade

sub-zone HZ1 by 50 metres to the west by intercepting:

67.50 metres @ 5.38 g/t gold equivalent within 377.85 metres @ 2.13 g/t gold

equivalent (1.40 g/t gold, 37 g/t silver and 0.21% copper)

HZ1 now has dimensions of 230 metres of strike, 70 metres in thickness and over 180 metres

vertical and includes previously announced intercepts of 150.55 metres @ 6.16 g/t AuEq in APC104-

D1 and 106.35 metres @ 9.05 g/t AuEq in APC104-D5 (press releases dated

December 16, 2024

and

February 24, 2025

)

Drillhole APC107-D3 was drilled westward and intersected a potential third, high-grade sub-

zone, to the west of HZ2 by intercepting:

123.75 metres @ 3.03 g/t gold equivalent from 156.45 metres including:

20.20 metres @ 5.15 g/t gold equivalent from 181.00 metres and

18.55 metres @ 3.87 g/t gold equivalent from 236.50 metres

49.30 metres @ 2.23 g/t gold equivalent from 336.65 metres

Follow up drilling is required to see if this potential new high-grade subzone extends to the north and

vertically where it is open for expansion.

Hole APC107-D1 was an infill hole into a gap in the block model and successfully intersected

mineralization at a similar grade profile to the internal block model as follows:

353.50 metres @ 1.94 g/t gold equivalent from 61.60 metres including

27.60 metres @ 3.01 g/t gold equivalent from 61.60 metres and

30.05 metres @ 2.98 g/t gold equivalent from 217.95 metres and

32.75 metres @ 2.20 g/t gold equivalent from 361.45 metres

A significant backlog of drill holes are in the lab with results expected to be released

consistently for the remainder of the year.

Table 1: Assays Results for Drill Holes APC107-D1, APC107-D2, APC107-D3, APC107-D4 and

APC107-D5

Hole #

From

(m)

Length

(m)

g/t

AuEq

g/t*

APC107-D1

61.60

415.10

353.50

0.96

0.26

1.94

Incl.

61.60

89.20

27.60

2.44

0.09

0.02

3.01

& Incl.

217.95

248.00

30.05

2.45

0.09

2.98

& Incl.

361.45

394.20

32.75

1.99

0.03

2.20

APC107-D2

18.80

396.65

377.85

1.40

0.21

2.13

Incl.

100.15

156.40

56.25

0.94

102

0.60

3.03

& Incl.

316.00

383.50

67.50

5.34

0.03

5.38

APC107-D3

156.45

280.20

123.75

1.24

0.43

0.02

3.03

Incl.

181.00

201.20

20.20

3.38

0.48

0.01

5.15

& Incl.

236.50

255.05

18.55

1.85

117

0.43

3.87

and

336.65

385.95

49.30

1.94

0.05

2.23

APC107-D4

48.50

207.55

159.05

1.19

0.43

0.01

3.01

Incl.

91.85

151.10

59.25

1.63

196

0.68

5.01

APC107-D5

172.95

287.35

114.40

1.06

150

0.64

0.09

4.14

Incl.

210.10

267.35

57.25

1.22

221

0.89

0.12

5.64

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.015 x 0.85) + (Cu (%) x 1.44 x 0.95) + (WO

(%) x 4.84 x 0.72) utilizing metal prices of Au – US$2,200/oz, Ag –

US$33/oz, Cu – US$4.62/lb and WO

– US$15.51/lb and recovery rates of 97% for Au, 85% for Ag, 95% for Cu and 72% for WO

. Recovery rate assumptions for metals are based

on metallurgical results announced on October 17, 2023, April 11, 2024, and October 3, 2024. True widths are unknown, and grades are uncut.

Figure 1: Plan View of the Apollo System Highlighting Drill Holes in this Release (CNW

Group/Collective Mining Ltd.)

Figure 2: Apollo Metal Zonation Over 1,200 Metres Highlighting High-Grade Sub-Zone 1 and Sub-

Zone 2 (CNW Group/Collective Mining Ltd.)

Figure 3: Drill Core Tray Photo Highlighting a Section of Drill Hole APC107-D5 (CNW

Group/Collective Mining Ltd.)

Figure 4: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW

Group/Collective Mining Ltd.)

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit

www.collectivemining.com

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately

$2 billion

in enterprise value, Collective is a gold, silver, copper and tungsten exploration company

with projects in Caldas,

Colombia

. The Company has options to acquire 100% interests in two

projects located directly within an established mining camp with ten fully permitted and operating

mines.

The Company's flagship project, Guayabales, is anchored by the

Apollo

system, which hosts the

large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten

Apollo

system. The Company's

objectives are to improve the overall grade of the

Apollo

system by systematically drill testing newly

modeled potentially high-grade sub-zones, expand the

Apollo

system by stepping out along strike to

the north and expanding the newly discovered high-grade Ramp Zone along strike and to depth, and

drill a series of less advanced or newly generated targets including Trap, the Knife and

X. Additionally, the Company has launched its largest drilling campaign in history at the San Antonio

Project as it hunts for a large bulk-tonnage porphyry system.

Management, insiders, a strategic investor and close family and friends own 44.5% of the

outstanding shares of the Company and as a result, are fully aligned with shareholders. The

Company is listed on both the NYSE and TSX under the trading symbol "CNL".

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of

National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information

contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an

MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of

the Society of Economic Geology (SEG).

Technical Information

Samples were cut by Company personnel at Collective Mining's core facility in Caldas,

Colombia

Diamond drill core was sawed and then sampled in maximum 2 metres intervals, stopping at

geological boundaries. Drill hole core diameter is a mix of PQ, HQ and NQ depending on the depth

of the drill hole.

Core samples have been prepared and analyzed at ALS laboratory facilities in

Medellin, Colombia

and

Lima, Peru

. Blanks, duplicates, and certified reference standards are inserted into the sample

stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured

storage facility for future assay verification. No capping has been applied to sample composites. The

Company utilizes a rigorous, industry-standard QA/QC program.

Information Contact:

Follow Executive Chairman

Ari Sussman

(@Ariski73

)

on X

Follow Collective Mining (

@CollectiveMini1

) on X,

(Collective Mining)

on LinkedIn, and

(@collectivemining)

on Instagram

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" and "forward-looking information" within the

meaning of applicable securities legislation (collectively, "forward-looking statements"). All

statements, other than statements of historical fact, are forward-looking statements and are based

on expectations, estimates and projections as at the date of this news release. Any statement that

involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives,

assumptions, future events or performance (often, but not always using phrases such as "plans",

"expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or

"believes" or variations (including negative variations) of such words and phrases, or state that

certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be

achieved) are not statements of historical fact and may be forward-looking statements. In this news

release, forward-looking statements relate, among other things, to: the anticipated advancement of

mineral properties or programs; future operations; future recovery metal recovery rates; future

growth potential of Collective; and future development plans.

These forward-looking statements, and any assumptions upon which they are based, are made in

good faith and reflect our current judgment regarding future events including the direction of our

business. Management believes that these assumptions are reasonable. Forward-looking

statements involve known and unknown risks, uncertainties and other factors which may cause the

actual results, performance or achievements of the Company to be materially different from any

future results, performance or achievements expressed or implied by the forward-looking

statements. Such factors include, among others: risks related to the speculative nature of the

Company's business; the Company's formative stage of development; the Company's financial

position; possible variations in mineralization, grade or recovery rates; actual results of current

exploration activities; conclusions of future economic evaluations; fluctuations in general

macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices

of gold, precious and base metals or certain other commodities; fluctuations in currency markets;

change in national and local government, legislation, taxation, controls regulations and political or

economic developments; risks and hazards associated with the business of mineral exploration,

development and mining (including environmental hazards, industrial accidents, unusual or

unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to

cover risks and hazards; the presence of laws and regulations that may impose restrictions on

mining; employee relations; relationships with and claims by local communities and indigenous

populations; availability of increasing costs associated with mining inputs and labour; the speculative

nature of mineral exploration and development (including the risks of obtaining necessary licenses,

permits and approvals from government authorities); and title to properties, as well as those risk

factors discussed or referred to in the annual information form of the Company dated

March 24,

2025

. Forward-looking statements contained herein are made as of the date of this news release

and the Company disclaims any obligation to update any forward-looking statements, whether as a

result of new information, future events or results, except as may be required by applicable

securities laws. There can be no assurance that forward-looking statements will prove to be

accurate, as actual results and future events could differ materially from those anticipated in such

statements and there may be other factors that cause results not to be anticipated, estimated or

intended. Accordingly, readers should not place undue reliance on forward-looking statements.

SOURCE

Collective Mining Ltd.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/June2025/24/c4436.html

%SEDAR: 00045946E

For further information:

Investors and Media: Paul Begin, Chief Financial Officer,

[email protected], +1 (416) 451-2727

CO: Collective Mining Ltd.

CNW 16:01e 24-JUN-25

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