Collective Mining Discovers a Significant Extension to the Apollo Breccia by Drilling 38.00m @ 15.46 g/t AuEq Within 141.40m at 4.88 g/t AuEq

Collective Mining Ltd. released assay results on September 1, 2026, for ten diamond holes drilled at the Apollo system within Guayabales, Colombia. The headline discovery came from hole APC172-D2, which intersected 141.40m at 4.88 g/t AuEq starting 924m below surface, including a higher-grade interval of 38.00m at 15.46 g/t AuEq. Primary grades within this interval were 4.75 g/t Au, 5 g/t Ag, 0.02% Cu, and 0.04% Zn, indicating the AuEq is essentially a gold grade.

The second directional hole, APC172-D1, returned a weaker result of 97.15m at 1.06 g/t AuEq from 929m below surface. Additional intercepts reported from the mother hole and other locations include APC-172D, which returned 13.00m at 4.39 g/t AuEq from 786m and 1.15m at 4.56 g/t AuEq from 868m. Other notable intercepts included 7.25m at 1.39 g/t AuEq from APC172-D1 and 8.45m at 1.68 g/t AuEq from APC172-D2.

The company stated these holes represent a new northern extension to the main Apollo breccia body, marking a 100m strike extension and a 170m vertical extension, making them the deepest holes on the northern side of the system.

Infill drilling results included:

• APC160-D3: 171.65m @ 2.13 g/t AuEq, including 44.90m @ 4.98 g/t AuEq.
• APC160-D4: 83.00m @ 2.06 g/t AuEq, including 15.30m @ 4.37 g/t AuEq.
• APC160-D5: 28.95m @ 1.19 g/t AuEq and 80.60m @ 1.09 g/t AuEq.
• APC161-D1: multiple narrower intervals, generally below 2.4 g/t AuEq.
• APC167-D1: narrower high-grade intervals, including 1.20m @ 9.96 g/t AuEq.

Two holes failed to deliver useful information; APC160-D6 had no significant value, and APC161-D1A stopped short due to a rig mechanical issue. A follow-up hole, APC180-D1, located 100m west of APC172-D2, is reported to have cut up to 100m of visual mineralization, with assays pending.

Collective Mining Ltd. (CNL) is an advanced explorer with no mineral resource and no production, carrying a market capitalization near US$1.93 billion based on the last provided close and latest share count. The company is well funded with US$93.7 million in cash as of June 30, 2026, but remains pre-resource.

The recent release represents a discovery and step-out event rather than merely infill. It extends the Apollo breccia system 100 meters to the north and 170 meters vertically, adding a high-grade gold-dominant core. However, the announcement relies on one hole with a second weak hole, and follow-up assays are pending. It is not a new district-opening discovery but a growth step on an already large and well-drilled system.

The market has already priced in multiple world-class Apollo intercepts. The stock moved strongly in late January 2026 and again in March/April 2026, but has since corrected from $28.41 to below $21. The price is not obviously priced for another major extension, making this result genuinely new information.

The grade-width substance of APC172-D2 is strong against prior northern Apollo expansion results. The previous northern expansion anchor was roughly 91.15 meters at 2.31 g/t AuEq in APC106-D2, or about 210 g/t AuEq-m. APC172-D2 is about three times that with a much stronger high-grade core, representing a meaningful step-up for the northern side of the system.

Infill results are broadly confirmatory and would not, by themselves, move the stock. The material impact is therefore positive but not transformational. The deposit remains large and prospective, but one hole is not a resource. The pending follow-up assays and the September maiden resource estimate matter more.

This release is expected to support a positive, possibly 5-10% share-price reaction, though a 15%+ game-changing move is unlikely unless follow-up drilling confirms a new high-grade corridor.

Collective Mining Ltd. is a Colombia-focused gold-silver-copper-tungsten explorer founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $1.4 billion in enterprise value. Its flagship asset is the Guayabales Project in Caldas, Colombia, anchored by the Apollo system. Key zones and targets within the project include the Apollo main breccia body, the Ramp Zone at depth, the Northern Apollo oxidized/shallow halo, the Trap sheeted vein and porphyry target, the Plutus porphyry target, the X target silver zone, and the San Antonio Project with the Pound silver-gold target.

The company has completed 188,000 meters of drilling across Guayabales and San Antonio, including 124,000 meters at Apollo. It currently operates 13 diamond drill rigs, with a 2026 program planned for up to 90,000 meters.

As of June 30, 2026, Collective Mining reported a cash position of US$93.7 million and working capital of US$71.7 million. Total assets stood at US$168.8 million against total liabilities of US$52.7 million. The company reported no revenue, with a Q2 2026 net loss of US$20.1 million. Exploration expenses for the first half of 2026 were US$14.8 million, while operating cash outflow and investing outflow for the same period were US$24.4 million and US$10.9 million, respectively.

Regarding ownership, management, insiders, strategic investors, and close associates were reported to own about 45.2% of shares. Agnico Eagle participated in previous financing and was disclosed at about 14.64% following the October 2025 financing. No NI 43-101 mineral resource or reserve estimate exists yet, with a maiden Apollo resource estimate targeted for September 2026.