Collective Mining Drills 486 Metres at 2.01 g/t AuEq at Apollo and Announces Plans to Drill up to 100,000 Metres in 2026

On October 29, 2025, Collective Mining announced new drill results from its flagship Apollo system at the Guayabales project in Colombia. The highlight was hole APC-141, which intersected 486 metres grading 2.01 g/t gold equivalent (AuEq). Several other holes also returned significant intercepts, such as 144.3 metres at 2.08 g/t AuEq.

Critically, the company also announced an aggressive, fully funded drill program of up to 100,000 metres for 2026. Executive Chairman Ari Sussman stated the company is confident additional value will be unlocked ahead of a planned maiden mineral resource estimate for Apollo by the end of 2026.

This news is materially positive, reinforcing the scale and grade continuity of the Apollo system and signaling a clear, aggressive path forward.

• Confirmation of Quality: The headline intercept of 486 metres at 2.01 g/t AuEq is a world-class result. While not the highest grade the company has ever drilled, it is in line with previous long intercepts (e.g., 442m @ 2.16 g/t AuEq in July 2025; 534m @ 2.70 g/t AuEq in Dec 2024), confirming the robustness and continuity of the main breccia body. For an analyst focused on risk, this consistency is highly valuable as it de-risks the geological model.

• Strategic Execution: The announcement of a 100,000-metre drill program for 2026 is a significant increase from the 70,000-metre program in 2025. This demonstrates immense management confidence in the asset. This plan is credible because the company is exceptionally well-funded, with a stated US$145 million treasury as of October 20, 2025, following a large C$140 million financing. They have the capital to execute this plan without returning to the market in the near term.

• De-risking and Path to Resource: The chairman's quote provides a clear timeline for a major catalyst: a maiden mineral resource estimate by the end of 2026. This is the first time such a concrete timeline has been provided. The massive 2026 drill program is clearly designed to feed into this resource, moving the project from a pure discovery story to a defined asset.

• Context of Historical News: The company has systematically delivered on its promises. Drilling has consistently expanded Apollo's dimensions and grade. Financings have been executed at progressively higher prices, culminating in the C$19.00/share deal in October 2025. This release is another step in a pattern of solid execution. It is not a "game-changer" in the sense of a brand-new discovery, but it is a material confirmation and acceleration of the existing, high-quality project.

Collective Mining is a mineral exploration company focused on properties in Caldas, Colombia. The company was founded by the core management team that developed Continental Gold, which was acquired by Zijin Mining for approximately C$2 billion.

The company's flagship asset is the 100%-owned Guayabales project, which hosts the Apollo discovery. Apollo is a large-scale, high-grade gold-silver-copper-tungsten mineralized breccia system that starts at surface and has been drilled to a depth of over 1,200 metres, remaining open for expansion. A key feature is the "Ramp Zone," a deeper, exceptionally high-grade portion of the system believed to be the feeder. The company is also exploring its nearby San Antonio project, which has shown potential for a large copper-gold porphyry system.