Denarius Metals has 189.35M shares issued at March 6

Mr. Michael Davies reports DENARIUS METALS ANNOUNCES UPDATE ON ITS CAPITAL STRUCTURE Denarius Metals Corp. has provided an update on its capital structure in light of the exercises of warrants that have been taking place since the beginning of 2026. To date, the company has received total gross proceeds of approximately $16.7-million in cash from the exercise of approximately 27.7 million warrants at exercise prices ranging from 60 cents to 66 cents per share. As at March 6, 2026, the company had a total of 189,356,286 common shares issued and outstanding and a market capitalization of approximately $206-million (1). Serafino Iacono, executive chairman of Denarius Metals, commented: "We are very pleased with this latest development, which strengthens our balance sheet as we continue to execute our growth strategy in Colombia and Spain. Two thousand twenty-six is shaping up to be a transformational year for us as we ramp up production at our Zancudo project, shifting from the current early production stage to commercial concentrate production by the end of the third quarter this year. In the current early production stage, we are starting to see improvement in daily mining rates, which is enabling us to increase the volume of crushed material we are shipping for sale to Trafigura to generate cash flow from the Zancudo project. Last month, we shipped 581 tonnes of material to Trafigura, up from 362 tonnes in January. Grades in the last two months have averaged approximately 10 g/t gold and 200 g/t silver. We are in the process of installing a new mill at the Independencia mine site that will expand our crushing capacity to handle the ramp up in tonnes mined from our ongoing development program while the construction of the new concentrate processing plant is completed. In Spain, we are making progress on the joint-venture-level financing for the restart of operations at the Aguablanca project and expect to commence the restart activities in the second quarter this year." As at March 6, 2026, the company had securities issued and outstanding, as detailed in the attached table. About Denarius Metals Corp. Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada, where it trades under the symbol DMET. The company also trades on the OTCQX market in the United States under the symbol DNRSF. In Colombia, Denarius Metals is producing gold and silver in an early production phase at its 100-per-cent-owned Zancudo project while it completes construction a 1,000-tonne-per-day processing plant that is expected to start producing high-grade gold-silver concentrates by the third quarter of 2026. The Zancudo project is a high-grade gold-silver deposit, which includes the historic producing Independencia mine, and is located in the Cauca belt, about 30 kilometres southwest of Medellin. In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The company owns a 22-per-cent interest in Rio Narcea Recursos S.L. and is the operator of its Aguablanca project, which has been recognized by the EU as a strategic project. The Aguablanca project comprises a turnkey 5,000-tonne-per-day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100-per-cent interest in the Lomero project, a polymetallic deposit located on the Spanish side of the prolific copper-rich Iberian pyrite belt, approximately 88 kilometres southwest of the Aguablanca project, and a 100-per-cent interest in the Toral project, a high-grade zinc-lead-silver deposit located in the Leon province, Northern Spain. We seek Safe Harbor.