Collective Mining Outlines Potential Multi-Million Ounce Target at Trap

Collective Mining Ltd. (NYSE: CNL, TSX: CNL) has reported assay results for four holes drilled at the Trap Target, located approximately 3.5 kilometers northeast of the company’s flagship Apollo system within the Guayabales Project in Caldas, Colombia.

Drill-hole TRC-11, designed to validate the geological model for Trap, intercepted significant mineralization. The results include 174.45 meters at 1.19 g/t gold equivalent (AuEq), with a notable section of 40.85 meters at 3.76 g/t AuEq.

Two additional holes, TRC-12 and TRC-14, were drilled from a new pad (TPad-4) and intercepted the Mineralized Deformation Zone (MDZ) further along strike. TRC-14 also identified a new zone of mineralization near the collar of the pad. The MDZ corridor, mapped for approximately 1.4 kilometers, remains open for further expansion.

TRC-8 intersected mineralization in the MDZ before being cut short by a post-mineral intrusive dyke, returning 51.05 meters at 1.41 g/t AuEq. TRC-9 and TRC-10, drilled outside the MDZ, showed lower grade mineralization.

The company plans to continue drilling along the MDZ corridor and has mobilized a second rig to Trap. Reconnaissance exploration drilling will also commence shortly at the X target and the southern part of the Plutus target.

Drill Results Summary:

• TRC-11: 174.45 meters @ 1.19 g/t AuEq, including 40.85 meters @ 3.76 g/t AuEq
• TRC-8: 51.05 meters @ 1.41 g/t AuEq, including 11.90 meters @ 2.49 g/t AuEq
• TRC-9: Multiple intercepts, including 3.25 meters @ 4.83 g/t AuEq
• TRC-10: 89.85 meters @ 0.73 g/t AuEq, including 13.10 meters @ 1.98 g/t AuEq

Assay results from outcrops at the southeastern end of the MDZ indicate potential for further expansion. The company will continue to update as more results become available.

“I would like to commend our team for their tenacity at Trap, which I believe will now rapidly evolve through drilling into a multi-million-ounce precious metal system. Additionally, the discovery at Trap should nicely compliment our flagship Apollo system and in time, I am confident the two systems will lead to a robust mineral resource inventory capable of producing at a large-scale production profile for many years in the future,” said Ari Sussman, Executive Chairman.

“With five drill rigs turning as part of our 40,000-meter program and a backlog of core in the lab, we are excited about the second half of the year where aggressive drilling with four rigs will take place at the Apollo and Trap systems. Additionally, reconnaissance exploration drilling will commence shortly with one rig at the X target, where we will drill test a look-a-like brecciated porphyry system to Apollo and another rig (six in total at the Guayabales project) at the southern part of the Plutus target, where we will test for a potential copper-gold porphyry system.”