Collective Mining Earns 100% in the Guayabales Mining License by Accelerating the Terms of the Agreement
Collective Mining Earns 100% in the
Guayabales Mining License by Accelerating
the Terms of the Agreement
TORONTO
,
June 23, 2025
/CNW/ -
Collective Mining Ltd.
(NYSE: CNL) (TSX: CNL)
("Collective"
or the "Company")
is pleased to announce that it has accelerated its agreement with the vendor of
the Guayabales mining license and as a result will affect the transfer of 100% of the mining license
into its name. The Guayabales license, which host the Company's flagship Apollo system, is one of
three major contiguous licenses that make up the Company's Guayabales Project, located in Caldas,
Colombia.
The original agreement for the Guayabales mining license was signed between the Company and
the vendor in
June 2020
and entitled the Company to earn a 100% ownership in the exploitation
phase mining license in 2032 by making a series of scheduled payments and committing to certain
exploration expenditures.
Under the amendment, the total financial consideration owed to the vendor remains the same as the
original agreement, however, the payment schedule has been accelerated as follows:
$2 million
payable immediately.
An additional
$2 million
is payable within one month provided the title transfer request to the
Colombian National Mining Agency ("ANM") has been filed.
An additional
$2.3 million
is payable within two months following the submission of the title
transfer request.
The remaining
$3.5 million
will be payable in six equal installments over the following three years
from the date of the execution of the amendment to the agreement.
The title transfer approval is expected within 60 days following the request being made to the ANM.
Ari Sussman
, Chairman of the Board commented: "Accelerating the agreement and earning 100% of
the mining title today made a lot of sense for the Company given our strong treasury of
approximately
$78 million
at the end of Q1, 2025, and our confidence that Apollo will evolve into a
future mine. Given the fact that this mining license is in its exploitation phase, the Company intends
to leverage the license to its advantage in its future permitting efforts. We would like to thank the
vendor for their support in this matter, and we look forward to our continued collaboration as we
advance the project."
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.
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 American and TSX under the trading symbol "CNL".
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.
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For further information:
Investors and Media: Paul Begin, Chief Financial Officer,
[email protected], +1 (416) 451-2727
CO: Collective Mining Ltd.
CNW 06:30e 23-JUN-25