Collective Mining Drills 154.30 m at 12.66 g/t AuEq, Including 30.45 m at 39.01 g/t AuEq, at Apollo's Ramp Zone

TSX: CNL | NASDAQ: CNL

Overview

Collective Mining Ltd. announced assay results for four directional diamond drill holes and their mother hole at the Ramp Zone of the Apollo deposit, part of its fully funded 2026 drilling program at the Guayabales Project in Caldas, Colombia. According to the company, drill hole APC174-D4 intersected the broadest high-grade intercept drilled to date at the Ramp Zone, returned local grades above those estimated in the Mineral Resource, extended the predicted high-grade envelope both shallower and deeper, and ended in mineralization outside the Mineral Resource.

The company reported that APC174-D4 crossed the Ramp Zone from east to west, approximately perpendicular to the breccia contact, and intersected 154.30 m @ 12.66 g/t AuEq (12.44 g/t Au, 11 g/t Ag) from 1,208 meters below surface, including 30.45 m @ 39.01 g/t AuEq (38.47 g/t Au, 28 g/t Ag) from 1,339 meters below surface, which in turn included 4.75 m @ 184.25 g/t AuEq (182.27 g/t Au, 102 g/t Ag) from 1,352 meters below surface.

Key Highlights

• APC174-D4 intersected 154.30 m @ 12.66 g/t AuEq (12.44 g/t Au, 11 g/t Ag) from 1,208 m below surface, including 30.45 m @ 39.01 g/t AuEq (38.47 g/t Au, 28 g/t Ag) from 1,339 m below surface, which the company states is the broadest high-grade intercept drilled to date at the Ramp Zone.
• According to the company, APC174-D4 crossed the southeastern portion of the Apollo breccia body approximately perpendicular to the breccia contact, and its principal intercept returned grades locally over 75% higher than the estimated grades of the current Mineral Resource for the blocks it crossed, extending the high-grade envelope both shallower and deeper than predicted along the hole.
• APC174-D4 bottomed in mineralization, with a final 12.20 m @ 0.75 g/t AuEq in sulphide-rich crackle breccia at approximately 650 meters above sea level ('masl'). The company states this mineralization is outside the Mineral Resource, and drilling could not continue as the rig had reached its maximum capacity; based on core inspection, the company interprets that the hole may have been entering a new mineralized chute within the breccia body, with follow-up drilling planned using higher capacity rigs.
• Drill holes to the north-northeast of APC174-D4 intersected Ramp Zone-style sulphide mineralization in core logging, with visible gold in APC174-D7, APC164-D5 and APC180-D4, approximately 80 m, 180 m and 240 m horizontally from APC174-D4 at 750 masl, respectively, and visible scheelite and gold in APC180-D3, approximately 410 m away; assays are pending.
• Construction of the planned approximately 3-kilometer underground exploration adit is expected to commence this month. According to the company, once it reaches Apollo, the adit is designed to intersect the Ramp Zone at approximately 700 masl, or 1,350 m below surface, in the core of the high-grade portion of the Ramp Zone's Mineral Resource.

Additional Drill Results

• APC174-D1: 8.60 m @ 3.28 g/t AuEq (3.12 g/t Au, 5 g/t Ag, 0.05% Cu) from 1,091 m; 1.20 m @ 8.43 g/t AuEq (8.36 g/t Au, 4 g/t Ag) from 1,123 m; 3.05 m @ 9.10 g/t AuEq (4.70 g/t Au, 6 g/t Ag, 0.34% Cu, 0.25% WO3) from 1,262 m; and 4.25 m @ 7.61 g/t AuEq (7.58 g/t Au, 2 g/t Ag) from 1,298 m below surface.
• APC174-D2: 1.10 m @ 8.18 g/t AuEq (8.03 g/t Au, 8 g/t Ag) from 1,158 m; 8.00 m @ 3.74 g/t AuEq (3.56 g/t Au, 7 g/t Ag, 0.05% Cu) from 1,271 m; and 19.90 m @ 3.97 g/t AuEq (3.68 g/t Au, 13 g/t Ag, 0.04% Cu) from 1,350 m below surface.
• APC174-D3: 1.20 m @ 5.11 g/t AuEq (5.07 g/t Au, 2 g/t Ag) from 1,216 m below surface.
• According to the company, APC174-D1 also extended the interpreted eastern contact of the breccia body by approximately 21 meters, and APC174-D1 and mother hole APC174-D intersected new, narrow gold veins outside the Mineral Resource.

Executive Commentary

Ari Sussman, Executive Chairman, commented: 'Every great gold deposit reaches a point where the drill stops confirming expectations and starts expanding them. APC174-D4 is that kind of hole: it cut through the heart of Apollo's Ramp Zone, with grades locally well ahead of what our Mineral Resource estimate predicted. This hole did not run out of gold; it ran out of rods. The core at the bottom suggests we may have been entering a new mineralized chute, and our new track-mounted rigs are built to follow it toward sea level, roughly 650 vertical meters below where this hole ended. We believe the Ramp Zone is only beginning to show us its true potential.'

Program Status and Resources

• To date, the company has received assays for 207,500 meters of diamond drilling across the Guayabales and San Antonio projects, including results for 146,500 meters at the Apollo deposit.
• Assay results for 71 drill holes are outstanding at the Guayabales Project, including 17 from the Ramp Zone, according to the company.
• The company states it is fully funded for its planned 2026 program, which envisions up to 90,000 meters of drilling, and presently has 13 diamond drill rigs operating across the Guayabales Project.
• The first track-mounted rig for deep drilling is now operating on site, and a second is expected later this month, according to the company.
• The company intends to drill the Ramp Zone down to sea level (a depth of approximately two kilometers from surface) in 2027.
• An updated Mineral Resource incorporating approximately 100,000 meters of additional drilling is expected between Q4 2027 and Q1 2028, followed by a Preliminary Economic Assessment shortly thereafter, according to the company.
• The Mineral Resource for the Ramp Zone, covering the southeastern portion of the breccia body over approximately 315 meters of strike, 120 meters of width and 350 vertical meters, hosts 0.20 million ounces AuEq Indicated (1.29 Mt at 4.74 g/t AuEq) and 1.04 million ounces AuEq Inferred (6.04 Mt at 5.37 g/t AuEq), reported underground below 1,000 masl at a 1.5 g/t AuEq cut-off, as disclosed in the company's press release dated September 8, 2026.
• According to the company, approximately 590 meters of the interpreted 1.5-kilometer circumference of the Apollo breccia body at depth has now been tested for Ramp Zone mineralization, compared with approximately 315 meters (approximately 21%) that had sufficient drilling density for inclusion in the maiden Mineral Resource.

Strategic/Operational Context

The company stated that the principal intercept in APC174-D4 lies largely within the Mineral Resource and returned grades locally more than 75% higher than the estimated grades of the corresponding blocks, extending the high-grade envelope approximately 20 meters shallower and 30 meters deeper than predicted at this location. The company noted that this comparison is local, is presented for geological context only, and does not represent an update to the Mineral Resource, and that APC174-D4 post-dates the drill database cut-off date and was not used in the Mineral Resource estimate.

The company also noted that the Ramp Zone is interpreted as a later-stage, higher-temperature vein system with mineralogical similarities to the nearby Marmato Lower Mine, owned by Aris Mining, and cautioned that information regarding the Marmato Lower Mine is not necessarily indicative of mineralization in the Ramp Zone and has not been independently verified by the company or its Qualified Person in accordance with NI 43-101.

What to Watch Next

• Assay results for 71 outstanding drill holes at the Guayabales Project, including 17 from the Ramp Zone.
• Arrival of a second track-mounted deep-drilling rig, expected later this month.
• Commencement of construction of the approximately 3-kilometer underground exploration adit, expected this month.
• Planned drilling of the Ramp Zone down to sea level in 2027.
• An updated Mineral Resource expected between Q4 2027 and Q1 2028, followed by a Preliminary Economic Assessment shortly thereafter.

About Collective Mining Ltd.

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately US$1.4 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company's two projects are located directly within an established mining camp with ten fully permitted and operating mines.

The Company's flagship project, Guayabales, is anchored by Apollo, a large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten deposit that hosts a maiden Mineral Resource of 2.58 million ounces AuEq Indicated (37.0 Mt at a grade of 2.17 g/t AuEq: 1.38 g/t Au, 24.4 g/t Ag, 0.14% Cu and 0.011% WO₃) and 2.83 million ounces AuEq Inferred (48.2 Mt at a grade of 1.83 g/t AuEq: 1.60 g/t Au, 8.39 g/t Ag, 0.03% Cu and 0.002% WO₃). The Company's objectives at the Guayabales Project are to continue expansion and infill drilling at Apollo while advancing technical, environmental and permitting work across the project.

Management, insiders, a strategic investor and close family and friends own 45.2% of the outstanding shares of the Company and, as a result, are fully aligned with shareholders. The Company is listed on both the NASDAQ and the TSX under the trading symbol 'CNL'.

Read full press release here.

Disclaimer and Forward-Looking Statements

The information contained herein is provided by ArcStone Financial Pulse Inc. ('ArcStone Financial Pulse'), a subsidiary of ArcStone Securities and Investments Corp. ('ArcStone'), for informational purposes only. It is not, and under no circumstances should it be construed as, an offer to sell or a solicitation of an offer to buy any securities or other financial instruments in any jurisdiction. This content is not a research report within the meaning of FINRA Rules 2241 or 2242 and does not constitute a research report under any applicable securities laws.

Certain statements contained herein may constitute 'forward-looking statements' within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements are based on current expectations, estimates, and assumptions that involve known and unknown risks and uncertainties which may cause actual results or developments to differ materially from those expressed or implied. These statements often include words such as 'anticipate,' 'believe,' 'expect,' 'intend,' 'may,' 'plan,' 'project,' 'should,' 'target,' or similar expressions. Readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. Except as required by law, ArcStone undertakes no obligation to update or revise any forward-looking information.

This content is not intended as investment advice or a recommendation to buy or sell any security and does not take into account the investment objectives, financial situation, or needs of any individual. Investors should consult their own professional advisors before making any investment decisions.

ArcStone Securities and Investments Corp. is not a registered broker-dealer and does not provide investment advice or recommendations. All registrable activities in the United States are conducted through ArcStone Securities, LLC (CRD# 306029) and/or Kingswood Capital Partners, LLC (CRD# 288898), both FINRA-registered broker-dealers, members SIPC. ArcStone Canada Inc. is not registered as a dealer in any Canadian jurisdiction; registrable dealing activities in Canada are conducted through appropriately registered affiliates.

ArcStone Kingswood is a DBA Office of Supervisory Jurisdiction (OSJ) of Kingswood Capital Partners, LLC (Member FINRA/SIPC) under which registered representatives of ArcStone Securities, LLC (Member FINRA/SIPC) and registered representatives of Kingswood Capital Partners, LLC conduct joint capital markets and investment banking activities. ArcStone Securities, LLC and Kingswood Capital Partners, LLC are parties to a written agreement governing the sharing of fees on transactions in which registered representatives of both firms participate. All securities transactions and investment banking services described in this article are conducted exclusively through ArcStone Securities, LLC and/or Kingswood Capital Partners, LLC; 'ArcStone Kingswood' itself is not a registered broker-dealer or separate legal entity.

ArcStone Financial Pulse Inc. is owned by the same parent entity (ArcStone Securities and Investments Corp.) that owns ArcStone Securities, LLC. This common ownership, together with the joint operating relationship between ArcStone Securities, LLC and Kingswood Capital Partners, LLC under the ArcStone Kingswood DBA OSJ banner, represents a structural conflict of interest. The issuer featured in this article (the 'Company') may be a current or former client of ArcStone or any of its subsidiaries and affiliates. Where ArcStone or its subsidiaries and affiliates have received or have been promised consideration for services provided to the Company, such consideration may include cash, stock, stock options, warrants, and/or Restricted Stock Units (RSUs) for the provision of corporate advisory, investor relations, digital media, or capital markets consulting services. This relationship represents a potential conflict of interest, as ArcStone may be perceived to have an incentive to present the Company in a favorable light. The principals, directors, officers, employees, and related entities of ArcStone and its affiliates may, from time to time, own, buy, or sell securities or derivatives of the Company or its affiliates.