Collective Mining Advances Guayabales Exploration Adit and Appoints New Projects Vice President

The Caldas gold developer hires a former Ecopetrol projects chief

Collective Mining (NYSE American: CNL; TSX: CNL) has advanced engineering and permitting work for its planned exploration adit at the Guayabales Project in Caldas, Colombia, while appointing Josué Romanos as vice president of projects to support the company’s next phase of development.

“The progress on our exploration adit marks an important step in accelerating our understanding of the system from underground and advances the Guayabales Project towards our ultimate goal of production.”
— Ned Jalil, Chief Executive Officer, Collective Mining

The company said construction of the exploration adit is expected to begin in the fourth quarter of 2026. The underground access project is designed to provide a new platform for studying the Apollo system and the broader Guayabales Project, including additional drilling, geotechnical and hydrological studies, and future metallurgical sampling.

Collective Mining first announced the exploration adit plans on March 11, 2026. Since then, the company said it has progressed engineering studies, execution planning, and permitting activities to prepare for construction.

Early preparations have included the construction of an explosives storage facility, which Collective said has been inspected and approved by the relevant authorities.

The adit will support underground drilling activities at Guayabales, where the company is focused on advancing exploration of the Apollo system and the high-grade Ramp Zone. The work is expected to contribute technical information required for future project studies and development decisions.

Alongside the exploration update, Collective Mining announced the appointment of Josué Romanos as vice president of projects, effective immediately.

Romanos brings more than three decades of experience in energy and infrastructure projects in Colombia. He spent more than 15 years at Ecopetrol, Colombia’s state-controlled energy company, most recently serving as general manager of projects, where he oversaw engineering, construction, commissioning, and quality assurance activities across a multi-billion-dollar capital portfolio.

During his time at Ecopetrol, Romanos also participated in the company’s investment committee. Earlier in his career, he held operations and commissioning roles at BP Exploration and PetroSantander on projects in Colombia.

Romanos is a petroleum engineer from Universidad de América and holds a postgraduate specialization in gas engineering from Universidad Industrial de Santander.

Collective Mining said the appointment strengthens its internal project execution capabilities as Guayabales advances through technical studies, permitting, and operational preparation.

Founded by the team behind Continental Gold, which was acquired by Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is exploring gold, silver, copper, and tungsten projects in Caldas.

The company’s Guayabales Project is located within an established mining district and is centered on expanding exploration targets including the Ramp Zone, Hanging Wall Vein Zone, and additional greenfield targets.

Collective Mining is listed on the NYSE American and the Toronto Stock Exchange under the symbol CNL. Management, insiders, strategic investors, and close family and friends hold approximately 45.2% of the company’s outstanding shares.