Collective Mining Provides Progress Update on Exploration Adit And Announces the Appointment of Josue Romanos as Vice President, Projects

Executive Summary

• Collective Mining provided a material progress update on its planned exploration adit at the Guayabales Project, highlighting advancements in engineering, permitting, and early construction milestones.
• The company announced the immediate appointment of Josué Romanos as Vice President, Projects, to lead execution and oversee the adit's development.
• Construction of the exploration adit is scheduled to break ground in Q4 2026, with the initiative designed to accelerate underground characterization of the Apollo system and advance the project toward production.

Key Details

• Engineering & Permitting: Detailed engineering studies and execution plans have progressed; the company is advancing through relevant permitting tracks with a heightened focus on operational readiness.
• Early Construction Milestone: Completed construction of an explosives storage facility, which has been inspected and approved for regulatory compliance.
• Adit Purpose & Scope: The adit will provide underground drilling access, enhance geotechnical and hydrological characterization, and facilitate the collection of metallurgical bulk samples for future project studies.
• Construction Timeline: Groundbreaking for the exploration adit is expected in the fourth quarter of 2026.
• VP Appointment: Josué Romanos appointed as Vice President, Projects, effective immediately.
• Executive Background: Romanos possesses over 30 years of experience in Colombia's energy and infrastructure industries, including 15+ years at Ecopetrol as General Manager of Projects, where he directed a multi-billion-dollar capital portfolio and served on the investment committee. Prior roles include operations and commissioning positions at BP Exploration and PetroSantander.
• Strategic Impact: The appointment bolsters in-house project execution capabilities, bringing specialized expertise in engineering, construction, commissioning, quality assurance, and investment governance to the Guayabales Project's technical and permitting workstreams.

Notable Quotes

• "The progress on our exploration adit marks an important step in accelerating our understanding of the system from underground and advances the Guayabales Project towards our ultimate goal of production, with construction of the adit expected to break ground in the fourth quarter of 2026. To ensure the exploration adit and future construction is delivered responsibly and on budget, we are pleased to welcome Josué Romanos as Collective Mining's new Vice President, Projects. Josué's decades of experience managing and delivering several multi-billion-dollar capital projects will be a significant asset as we continue to build a world-class company grounded in operational excellence and responsible development." — Ned Jalil, Chief Executive Officer