Collective Mining Announces New Drilling Results from its Apollo System in Colombia

Collective Mining Ltd. (NYSE: CNL, TSX: CNL) announced assay results on August 20, 2025, for four diamond drill holes from its ongoing shallow drilling program at the Apollo system, part of the company’s multi-target Guayabales Project in Caldas, Colombia. The program is designed to define and expand the near-surface zone of mineralization.

Drill hole APC-134 yielded 183.70 meters at 3.01 g/t gold equivalent, from 37.30 meters downhole. The assay results for this interval included 0.86 g/t gold, 44 g/t silver, 0.83% copper, and 0.14% tungsten oxide (WO3).

Figure 1: Plan View of the Apollo System, highlighting Drill Holes Announced in this release (CNW Group/Collective Mining Ltd.)

Another hole, APC-136, intersected 37.15 meters at 7.05 g/t gold equivalent from 118.10 meters downhole, comprising 2.19 g/t gold, 89 g/t silver, 0.92% copper, and 0.73% tungsten oxide (WO3).

The company reports that the shallow drilling program is approaching its conclusion, with approximately six drill holes remaining. The drill intercepts have reportedly expanded the volume of the shallow mineralized area by about 5% and have filled gaps in the internal block model. Upon completion of this program, the average drill hole spacing is expected to be 35 meters from the surface to a vertical depth of 150 meters.

Collective Mining stated that a second large-capacity diamond drill rig has arrived at the Apollo site to test the Ramp Zone and is expected to begin operations within two weeks. The company has a total of eleven drill rigs operating as part of its fully funded 70,000-meter drill program for 2025. Eight of these rigs are at the Guayabales Project, while three are at the San Antonio Project.

Table 1: Assays Results for Drill Holes APC-132, APC-134, APC-135, and APC-136

To date, approximately 133,000 meters of diamond drilling have been completed at the Guayabales Project, including 93,000 meters at Apollo. The company has 25 drill holes awaiting assay results from a laboratory in Peru.

Figure 2: Plan View of the Guayabales Project, highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)

Collective Mining also announced that assay results for two drill holes at the Knife target did not intersect significant mineralization, and as a result, the target has been removed from the company’s inventory of Greenfield targets at the Guayabales Project.