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Collective Mining Files NI 43-101 Technical Report on its Guayabales Project, Colombia

Resource Estimates Technical Reports (NI 43-101)

Collective Mining Files NI 43-101 Technical Report on its Guayabales Project, Colombia

Toronto, Ontario, September 24, 2021 – Collective Mining Ltd. (TSXV: CNL) (“Collective” or the

“Company”) is pleased to announce that it has filed a National Instrument 43- 101 ("NI 43 -101")

Technical Report for its Guayabales Project, Colombia with an effective date of August 30, 2021 (the

"Technical Report"). The Technical Report is available for review on SEDAR ( www.sedar.com) and

on the Company's website (www.collectivemining.com).

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).

About Collective Mining Ltd.

Collective is an exploration and development company focused on identifying and exploring

prospective gold projects in South America with insider ownership of approximately sixty-five percent.

Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia:

(i) the San Antonio project; and (ii) the Guayabales project. The 3,780-hectare San Antonio Project is

located in a historical gold district in the Caldas department of Colombia. With recent geophysical and

LIDAR surveys completed, an initial 5,000 metre drill program is underway at the project with initial

assay results anticipated in early Q4 , 2021. The 3,333-hectare Guayabales Project is also located

in the mining-friendly Caldas department of Colombia. A maiden 7,500 metre drilling program is under

way with initial assay results expected in Q4, 2021.

Contact Information

Collective Mining Ltd.

Paul Begin, Chief Financial Officer

Tel. (416) 451-2727

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to,

statements about the maiden drill program, including timing of results, and Collective’s future and

intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”,

“anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these

words, or similar words or phrases, have been used to identify these forward -looking statements.

These statements reflect management’s current beliefs and are based on information currently

available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors

could cause actual results, performance, or achievements to differ materially from the results

discussed or implied in the forward -looking statements. These factors should be

considered carefully, and readers should not place undue reliance on the forward-looking statements.

Although the forward- looking statements contained in this news release are based upon what

management believes to be reasonable assumptions, Collective cannot assure readers that actual

results will be consistent with these forward -looking statements. These forward- looking statements

are made as of the date of this news release, and Collective assumes no obligation to update or revise

them to reflect new events or circumstances, except as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the

TSXV) accepts responsibility for the adequacy or accuracy of this news release.