Collective Mining Expands the New Porphyry Discovery at San Antonio by Cutting 172.40 Metres at 1.40 g/t Au, 0.16% Cu, 17 g/t Ag and 68 ppm Mo with the Hole Bottoming in Strong Mineralization

Executive Summary

• Collective Mining announced significant drill intercepts at the San Antonio “Pound” target, expanding a high‑grade porphyry system over >450 m of strike and confirming multiple mineralized phases (gold‑copper‑silver‑molybdenum).
• Hole SAC‑18 returned 172.40 m @ 1.88 g/t AuEq (incl. 28.50 m @ 3.32 g/t AuEq) and terminated in strong mineralization; Hole SAC‑15 delivered 154.20 m @ 1.22 g/t AuEq (incl. 58 m @ 2.15 g/t AuEq).
• The company now has ~10,000 m of diamond drilling completed at San Antonio (6,500 m on Pound), with three rigs upgraded and a higher‑capacity rig drilling hole SAC‑21 targeting MVI‑identified zones.

Key Details

• Hole SAC‑18 (vertical, Pad 5)
• 172.40 m @ 1.88 g/t AuEq (1.40 g/t Au, 0.16 % Cu, 17 g/t Ag, 68 ppm Mo)
• Includes: 28.50 m @ 3.32 g/t AuEq; 60.75 m @ 2.27 g/t AuEq

• Final 1.60 m averaged 2.03 g/t AuEq before rig depth limit stopped the hole.

• Hole SAC‑15 (flatter angle, Pad 5)

• 154.20 m @ 1.22 g/t AuEq (1.12 g/t Au, 0.03 % Cu, 11 g/t Ag)
• Includes: 58.00 m @ 2.15 g/t AuEq; 16.05 m @ 2.17 g/t AuEq

• Final 9.90 m averaged 3.18 g/t AuEq before rig capacity limit.

• Additional Intercepts

• SAC‑12 & SAC‑14 (Phase 1 halo) – >640 m @ ~0.36 g/t AuEq, with several higher‑grade sub‑intervals.
• SAC‑13 – 8.70 m @ 2.26 g/t AuEq and longer lower‑grade intervals.
• SAC‑16 – multiple zones including 11.90 m @ 2.59 g/t AuEq and 14.55 m @ 2.09 g/t AuEq.

• SAC‑17 (Real target) – no material mineralization; target downgraded.

• Mineralized Phases Identified 1. Phase 1: ~3 km × 3 km phyllic‑altered halo, low‑grade gold (0.2–0.5 g/t Au), open in all directions to ≥700 m depth.
  2. Phase 2: Late‑stage gold‑silver sheeted veinlet system (CBM veins) beginning at surface, higher grades below ~300 m.
  3. Phase 3: Gold‑copper‑silver‑molybdenum porphyry with potassic alteration; starts ≈400 m depth, unusually high Au/Cu ratio (~4:1).

• Program Status

• Total drill program for 2025: 70,000 m (fully funded).
• San Antonio: 3 rigs operating (now upgraded); Guayabales: 8 rigs (including two deep‑capacity rigs).
• ~10,000 m drilled at San Antonio to date; 6,500 m on Pound target.

• Two assay results pending; three additional holes currently drilling.

• Future Plans

• Hole SAC‑21 being directed into a high‑priority MVI anomaly.
• All Phase 1 targets (Pound, COP, Euro, etc.) slated for testing in 2025.

Notable Quotes

“Having just walked the entire San Antonio Project with the team, I am extremely impressed by the sheer scale of the system and its exciting potential… The porphyry discovery at Pound is located less than a kilometre from the Pan American highway and there are no communities living on or near the area.” – Ari Sussman, Executive Chairman

All technical data reviewed by Qualified Person David J. Reading, QP (NI 43‑101).