Denarius Metals Files National Instrument 43-101 Technical Report and Preliminary Feasibility Study for the Aguablanca Project in Extremadura, Spain

Rhea-AI Summary

Denarius Metals announced the filing of a National Instrument 43-101 compliant technical report supporting its Preliminary Feasibility Study for the Aguablanca Project in Spain. The report, effective from March 24, 2024, was prepared by Resource Development Associates. This study covers Denarius' 50% stake in the Aguablanca Nickel-Copper Mineral Deposit. Investors can access the full report on Denarius Metals' website or SEDAR+.

Positive

• Filing of a compliant technical report adds credibility and transparency.
• Preliminary Feasibility Study supports potential growth and development at the Aguablanca Project.
• The report is prepared by Resource Development Associates, indicating thorough and professional assessment.

Negative

• Only 50% ownership in the Aguablanca Project could limit total profit potential.
• Potential financial risks if the feasibility study projects high costs or low returns.

Toronto, Ontario--(Newsfile Corp. - May 23, 2024) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or "the Company") announced today the filing of a National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant technical report in support of the Preliminary Feasibility Study for its 50%-owned Aguablanca Project in Extremadura, Spain. The technical report, entitled "Technical Report and Preliminary Feasibility Study for the Aguablanca Nickel-Copper Mineral Deposit, Extremadura Region, Spain " with an effective date of March 24, 2024, was prepared by Resource Development Associates and supports the disclosures made by the Company in its news release dated April 11, 2024. The technical report can be found on the Company's website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

About Denarius Metals

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts.

In Spain, the Company owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, and a 50% interest in Rio Narcea Recursos, S.L., which has the rights to exploit the historic producing Aguablanca nickel-copper mine, including a 5,000 tpd processing plant, located in Monesterio, Extremadura, Spain, approximately 88 km NW from the Lomero Project. The Company is also carrying out an exploration campaign on the Toral Zn-Pb-Ag Project located in the Leon Province, Northern Spain pursuant to an option and joint-venture arrangement with Europa Metals Ltd. pursuant to which it can acquire up to an 80% ownership interest in Europa Metals Iberia S.L., a wholly-owned Spanish subsidiary of Europa which holds the Toral Project.

In Colombia, Denarius Metals is carrying out construction activities at its 100%-owned Zancudo Project, which includes the historic producing Independencia mine, to develop production and cash flow commencing in 2024 through local contract mining and commencing a drilling program on the Zancudo deposit which remains open in all directions.

Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated April 25, 2024 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:

Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210257

FAQ

What is the significance of Denarius Metals filing a National Instrument 43-101 technical report for the Aguablanca Project?

Filing this report adds credibility and transparency to the project's potential, supporting the Preliminary Feasibility Study.

When was the technical report for the Aguablanca Project filed?

The technical report was filed on May 23, 2024.

What is the stock symbol for Denarius Metals?

Denarius Metals trades under the symbol DNRSF.

Where can investors find the full technical report for the Aguablanca Project?

Investors can access the full report on Denarius Metals' website or SEDAR+.

Who prepared the Preliminary Feasibility Study for Denarius Metals?

The Preliminary Feasibility Study was prepared by Resource Development Associates.