Collective begins drilling Apollo zone at Guayabales

Executive Summary

• Collective Mining has commenced a multihole drill program targeting the high-grade, near-surface tungsten-rich zone at its Apollo system within the Guayabales project in Colombia.
• The company reports visual core logging showing coarse scheelite (tungsten) and copper minerals, with assay results from these tungsten zones expected in December.
• The company remains fully funded with $145 million in cash and plans an aggressive 2026 program targeting up to 100,000 metres of additional drilling across its Guayabales and San Antonio projects.

Key Details

• Drilling Activity: Multihole drill program is underway at the Apollo system, specifically targeting the high-grade, outcropping tungsten-rich zone.
• Geological Context: Apollo is a large, partially reduced intrusion-related system enriched in gold, silver, copper, and tungsten. Drilling has outlined continuous mineralization from surface to over 1,300 vertical metres.
• Mineralization: Visual core logging of initial holes shows coarse scheelite (tungsten mineral) and chalcopyrite, bornite, and chalcocite (copper minerals).
• Strategic Importance: Apollo hosts Colombia's first hard rock tungsten discovery. Tungsten prices (APT 88.5%) are at an all-time high of $703 USD per metric tonne unit.
• Assay Timeline: Assay results from the drilling of the tungsten zones are expected in December.
• Drilling History: To date, 143,500 metres of diamond drilling have been completed across Guayabales and San Antonio projects, including 103,000 metres at the Apollo system.
• Current Operations: Ten rigs are currently active with multiple high-priority holes at both projects pending assays.
• Financial Position: The company holds $145 million (U.S.) in cash as of October 20, 2025.
• Future Plans: The company is fully funded for its planned 2026 program, which targets up to 100,000 metres of additional drilling.
• Project Scope: The Guayabales project is anchored by the Apollo system. The company also launched its largest drilling campaign in history at the San Antonio project (2-5 km east-northeast of Guayabales) to hunt for new discoveries and expand the porphyry system at the Pound target.

Notable Quotes

• Ari Sussman, Executive Chairman: "Since announcing the first hard-rock tungsten discovery in Colombian history, positive interest from Colombian officials in the critical minerals aspect of the Apollo system has evolved. With tungsten prices now sitting at an all-time high and scarce supply available in the Americas, our Apollo system has strong potential to feed the veracious appetite for the metal in a reasonable time frame."