Collective Mining Ltd. - CNL STOCK NEWS

Collective Mining (NYSE: CNL) (TSX: CNL) announces the passing of Paul Murphy, an Independent Director and Audit Committee Chair. Murphy was a Partner at PricewaterhouseCoopers LLP from 1981 to 2010, serving as National Mining Leader from 2004 to 2010. His career focused on the resource sector, including roles as Director at Continental Gold and CFO of Guyana Goldfields and Guyana Precious Metals.

The Company, founded by the team that sold Continental Gold Inc. to Zijin Mining for ~$2 billion, focuses on gold, silver, copper and tungsten exploration in Caldas, Colombia. Their flagship Guayabales project features the Apollo system, with management and insiders owning 44.5% of outstanding shares.

Collective Mining (NYSE: CNL) has discovered a new silver zone in the northern section of the Apollo system within its Guayabales project in Colombia. The discovery includes significant shallow silver intersections, with highlights of 75.45 metres at 80 g/t silver equivalent, including 13.0 metres at 315 g/t silver equivalent.

The shallow high-grade silver zone was intercepted from surface to vertical depths of 150 metres in oxidized material, covering an area of 250 by 100 metres, remaining open in all directions. The company is currently operating four drill rigs as part of its 40,000-meter 2024 drilling program and plans a larger 60,000-meter campaign for 2025.

Collective Mining (NYSE: CNL) announced the discovery of a northeastern extension to its Apollo system at the Guayabales Project in Caldas, Colombia. Key drilling results include an intercept of 150.50 metres at 1.74 g/t gold equivalent, including 42.0 metres at 4.02 g/t gold equivalent.

The company currently has five drill rigs operating as part of its 40,000-meter drilling program for 2024, with plans for a larger 60,000-meter program in 2025. Approximately 101,000 metres of diamond drilling has been completed to date, including 67,000 metres at Apollo. There are 25 drill holes awaiting assay results, expected before year-end 2024.

Collective Mining (NYSE: CNL) (TSX: CNL) has announced a new high-grade gold discovery at the Apollo system within its Guayabales Project in Colombia. The discovery, named the Ramp Zone, was made through drill hole APC99-D5, which intersected 57.65 metres at 8.18 g/t gold equivalent, including 18.85 metres at 20.21 g/t gold equivalent. This new zone is located approximately 1,150 metres below surface and is interpreted as a partially reduced intrusion related Au-Ag-Cu system.

The Ramp Zone discovery is significant as it may add substantially to Apollo's mineral resource endowment. The Company plans to expand its drilling program to follow up on this discovery. Currently, Collective Mining has five diamond drill rigs operating within the Guayabales Project as part of its 40,000 metres drill program for 2024.

Collective Mining (NYSE: CNL) (TSX: CNL) has announced assay results from initial reconnaissance drilling at the Plutus Target within its Guayabales Project in Colombia. The drilling has outlined a porphyry system with significant intercepts, including:

- 328.05 metres @ 0.31 g/t gold equivalent from surface (PSC-1)
- 199.60 metres @ 0.33 g/t gold equivalent from surface (PSC-2)
- 275.05 metres @ 0.30 g/t gold equivalent from 33.95 metres (PSC-3)
- 131.55 metres @ 0.67 g/t gold equivalent from 46.70 metres (PSC-4)

Early modelling suggests that better mineralization may exist to the north and at depth. The company is conducting a 40,000-meter drilling program for 2024 with five drill rigs operating at the Guayabales Project.

Collective Mining (NYSE: CNL) (TSX: CNL) has announced positive results from recent metallurgical tests on samples from its Apollo system at the Guayabales Project in Colombia. New cyanidation tests yielded an average gold dissolution of 94.3% from seven variability samples, confirming previously reported high recovery rates. The company also reported improved recoveries for gold (89.4%) and silver (85.2%) from optimization test work on a flotation concentrate.

The company envisions a conventional split circuit for processing, with copper-rich material treated through flotation and copper-poor material through cyanidation to produce doré. A gravity circuit is expected to be included for high-grade tungsten recovery. Collective Mining currently has five diamond drill rigs in operation as part of its fully funded 40,000-metre drill program for 2024.

Collective Mining (NYSE: CNL) (TSX: CNL) has announced promising results from recent cyanidation tests on samples from its Apollo system at the Guayabales Project in Colombia. The tests yielded an average gold dissolution of 94.3% from seven new variability samples, confirming previously reported high recovery rates.

Key highlights include:

• Average gold and silver recoveries of 94.3% and 63.7% respectively from cyanidation tests
• Improved overall gold and silver recoveries to 89.4% and 85.2% respectively from flotation and cyanidation of cleaner tailings
• Copper recovery maintained at 94% in copper-rich material

The company envisions a conventional split circuit for processing Apollo material, with copper-rich streams treated through flotation and copper-poor streams through cyanidation to produce doré. A gravity circuit is expected to be included for high-grade tungsten recovery. These results will help outline an initial process design and optimize conditions for future facilities.

Collective Mining (NYSE: CNL) (TSX: CNL) has announced assay results from four directional diamond drill holes at its Apollo system within the Guayabales Project in Caldas, Colombia. The results extend the Apollo system to the southwest and confirm continuity of high-grade zones at depths over 1,000 metres. Highlights include:

- 401.80 metres @ 1.06 g/t gold equivalent from 369.00 metres (APC99-D4)
- 258.30 metres @ 1.56 g/t gold equivalent from 253.40 metres (APC99-D2)
- 158.45 metres @ 0.95 g/t gold equivalent from 289.95 metres (APC99-D3)

The company has five diamond drill rigs in operation as part of its fully funded 40,000 metres drill program for 2024. Two rigs are expanding the Apollo system, two are drilling at the Trap system, and one is at the Plutus Target.

Collective Mining (NYSE: CNL) (TSX: CNL) has announced significant drilling results from its Trap Target at the Guayabales Project in Colombia. The company has extended the Trap Main Zone (TMZ) by 350 meters to a total strike length of 700 meters and discovered a new high-grade zone named Blackjack. Key highlights include:

1. Blackjack Zone: 30 meters @ 4.96 g/t gold equivalent from 11.85 meters downhole

2. TMZ extension: Hole TRC-12 intercepted 87.60 meters @ 1.57 g/t gold equivalent

3. TMZ remains open for expansion, with mapped surface strike length of 1,400 meters

The company continues aggressive exploration with two new drill pads constructed to test an additional 700 meters of strike potential. Collective Mining aims to potentially double the strike length at Trap to 1,400 meters.