Denarius obtains industrial facility permit for Zancudo

Mr. Serafino Iacono reports DENARIUS METALS RECEIVES APPROVAL OF FINAL PERMIT AT ITS ZANCUDO PROJECT IN COLOMBIA AND IS COMMENCING CONSTRUCTION OF ITS 1,000 TONNES PER DAY PROCESSING PLANT TO BEGIN OPERATIONS IN SECOND QUARTER OF 2026 Denarius Metals Corp. has received approval of the industrial facility permit for its Zancudo project from Corantioquia, the local environmental authority in Colombia. With the approval of the industrial facility permit, which has a term of 30 years, the company is able to commence construction of its 1,000-tonne-per-day processing plant that is expected to start producing high-grade gold-silver concentrates at the Zancudo project before the end of the second quarter of 2026. These concentrates will be sold under an existing offtake agreement with Trafigura Pte. Ltd. Receipt of the industrial facility permit also enables the company to receive the second advance of $2.5-million (U.S.) from Trafigura under a $9.0-million (U.S.) prepayment facility that is financing the completion of the Zancudo project construction. Serafino Iacono, executive chairman of Denarius Metals, commented: "We are excited to reach this very important milestone for our company. With this permit now in hand, we are able to commence construction of our new processing plant. All equipment for the processing plant is located at the project site, and we have engaged a local contractor to carry out the construction activities that are expected to have the processing plant in operation before the end of the second quarter of 2026. In the meantime, we will continue our early production activities, which are generating some production and operating cash flow, while our mine contractor carries out development to prepare the mine for semi-mechanized mining to feed the new processing plant." Early production results through September, 2025 Denarius Metals commenced mining operations in April, 2025, at its Zancudo project. During the early production phase that will run until the new processing plant goes into operation, mined material is being crushed on site and then shipped to a local port for sale to Trafigura to start generating operating cash flow. In the second and third quarters of 2025, a total of approximately 1,200 tonnes have been mined, of which a total of 878 tonnes have been shipped to Trafigura. With grades averaging 7.3 grams per tonne gold and 164.5 g/t silver, the material in these shipments contained approximately 207 ounces of gold and 4,641 ounces of silver. During the current early production phase, Trafigura's payability rates range from 55 per cent to 70 per cent for gold and 30 per cent to 40 per cent for silver, depending on the grades of the material. For the shipments completed through the end of September, 2025, the company received payment for approximately 126 ounces of gold and 1,694 ounces of silver. Trafigura's payability rates in the early production phase reflect the additional costs they have to incur to bring the material to a saleable condition. When the company begins shipping concentrates to Trafigura, payability rates will increase to 86 per cent to 90 per cent for gold and 35 per cent to 45 per cent for silver, depending on the grades in the concentrates. About Denarius Metals Corp. Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metal 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 commenced mining operations in the second quarter of 2025 at its 100-per-cent-owned Zancudo project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, 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 21-per-cent interest in Rio Narcea Recursos SL and is the operator of its Aguablanca project, which has been recognized by the European Union 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.