Collective Mining Reports New Vein Discovery at ME Target, Initiates Gravity Survey-Driven Drilling at Guayabales Project

Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) has announced the discovery of a high-grade vein system at it’s ME target and the completion of a gravimetric survey within the Guayabales Project in Caldas, Colombia. The survey identified seven new gravity anomalies with characteristics similar to the company’s Apollo system.

Drill hole MEC-2 at the ME target intersected a high-grade vein system, with assay results including 0.65 meters grading 534.0 grams per tonne (g/t) gold and 40 g/t silver from 274.5 meters downhole, and 0.90 meters grading 47.2 g/t gold from 291.8 meters downhole. The company has interpreted this intersection as high-grade vein leakage from a larger, mineralized breccia body.

Figure 1: Plan View of the Guayabales Project Highlighting Northwest and East-West Mineralized Structures, Greenfield Targets Generated to Date and their Respective Locations from the Multi-Million Ounce Marmato Mine (CNW Group/Collective Mining Ltd.)

Following the initial results from a new gravimetric survey, drilling on hole MEC-3 at the ME target was halted due to the hole’s trajectory being outside an identified gravity high. Collective Mining has recommenced drilling at the ME target, focusing on the gravity high.

The gravimetric survey was conducted over a two-square-kilometer area of the Guayabales Project, encompassing the corridor extending from the Apollo system to the concession boundary of Aris Mining’s (TSX: ARIS) (NYSE-A: ARMN) Marmato mine. The survey’s effectiveness in identifying the Apollo system as a gravity-high, attributed to its concentration of breccia-hosted sulfides, supported its application to other areas.

The survey has identified seven new gravity anomalies with gravimetric features similar to Apollo. These include Apollo South, located southwest of Apollo; three anomalies within the ME target area; one in the X target area; and two in the Plutus target area. These new targets are characterized by gravity highs that originate at or near the surface and extend vertically to the survey’s depth limit.

Diamond drilling with two rigs has commenced to test the ME and X gravimetric high anomalies. Additional drilling is planned for the remaining gravity targets. The Apollo South anomaly, located 250 meters southwest of the Apollo system, is identified as a potential extension of the Apollo system. The X gravity anomaly, situated 1 kilometer south of Apollo, is slated for a maiden drill program targeting an outcropping mineralized breccia body.

Figure 2: Zoomed-in Plan View Highlighting the Seven New Gravimetric Anomalies and Assay Results for the High-Grade Vein System Discovered at the ME Target (CNW Group/Collective Mining Ltd.)

The ME and ME South gravity anomalies, located between 0.6 and 1 kilometer southeast of Apollo, are currently undergoing drilling at the ME anomaly. The Plutus 1 and 2 gravity anomalies, located up to 1 kilometer east of Apollo, are described as large and undrilled, with the Plutus 1 anomaly exhibiting continuity over 700 vertical meters. Previous surface sampling in the Plutus area indicated quartz diorite-hosted gold-copper porphyry mineralization.

Collective Mining currently operates nine drill rigs, with seven assigned to the Guayabales Project and two to the San Antonio Project, as part of its 70,000-meter drill program for 2025. Two additional deep-capacity rigs are being mobilized to the Guayabales Project to resume testing of the Ramp Zone within the Apollo system in Q3 2025. Approximately 128,000 meters of diamond drilling have been completed at the Guayabales Project to date, including 90,000 meters at Apollo. Assay results for 29 drill holes are currently pending.

Figure 3: Section along Apollo, Highlighting the New South Apollo Anomaly Only 250 Metres from the Company’s Flagship Apollo System (CNW Group/Collective Mining Ltd.)

The company’s exploration strategy includes increasing the grade of the Apollo system through systematic drill testing of new sub-zones, expanding the Apollo system along strike and depth, and drilling less advanced or newly generated targets. The San Antonio Project also has an ongoing drilling campaign targeting a bulk-tonnage porphyry system.

Technical Details

Diamond drill hole MEC-2 was drilled northeast from Pad ME3, targeting a high-grade geochemical signature identified at the surface. The hole intersected a new high-grade vein system within porphyry quartz diorite and diorite, exhibiting crackle and brecciated textures with sulfides including chalcopyrite, pyrite, sphalerite, and galena.

Figure 4: Section along the X Target Highlighting the New Gravity Anomaly Generated by the Survey (CNW Group/Collective Mining Ltd.)

The gravimetric geophysical program was executed by ARCE GEOFISICOS SAC in June 2025, covering 2 square kilometers with 414 stations on a 50-meter east-west by 100-meter north-south grid. The program aimed to detect high-density sulfide-bearing bodies similar to Apollo to a maximum depth of 800 meters. The method measures variations in the Earth’s gravitational field to identify anomalies associated with density changes in subsurface rocks.

Sample preparation and analysis were conducted at ALS laboratory facilities in Medellín, Colombia, and Lima, Peru. The company employs a quality assurance/quality control program, including the insertion of blanks, duplicates, and certified reference standards into the sample stream. True widths are estimated to be between 60% and 95%, and grades are uncut.

Table 1: Assay Results for Drill Holes MEC-2

The Tower target area, where three diamond drill holes were previously completed, did not encounter significant mineralization and is located in a gravity low according to the recent survey. Consequently, the Tower target has been deprioritized, and no further drilling is planned.

Figure 5: Section along Both the ME and ME South Anomalies Highlighting Three Large, Undrilled Gravimetric High Bodies (CNW Group/Collective Mining Ltd.)