Denarius receives exploration permit for Cruzadillo

Executive Summary

• Denarius Metals Corp. received a government‑issued “Cruzadillo” investigation permit covering ~60 ha adjacent to its 100 % owned Lomero project in Huelva, Spain.
• The new permit expands the company’s total Iberian Pyrite Belt holdings to ~665 ha and provides preferential rights over an additional 141 ha (the “Demasias”).
• Management is designing a 2026 drilling campaign for Lomero that will include definition targets at Cruzadillo, aiming to test for additional polymetallic resources.

Key Details

• Permit Scope: Exploration permit for the Cruzadillo claims, ~60 ha, located <1 km from the Lomero project.
• Total Holdings: Property footprint in the Iberian Pyrite Belt now ≈665 ha (including existing Rubia and Palomarejo permits).
• Legal Coverage: Preferential right (“Demasias”) over an extra 141 ha between Cruzadillo and existing permits.
• Geological Context: Area crossed by a potential western extension of the Las Merinas target; contains geophysical anomalies, gossan outcrops, historic mining waste (San Telmo pit) and old mine workings (Maria mine).
• Historical Mining: Original Cruzadillo mine operated 1882‑1892 with open‑pit and underground work; later exploration in early 1900s identified multiple ore lenses and semi‑massive sulphides.
• Future Work: Design phase of a systematic exploration program and 2026 drilling campaign at Lomero, including definition drilling at Cruzadillo to test for polymetallic bodies that could augment current resource estimates.
• Management Quote: Executive Chairman Serafino Iacono highlighted the permit’s role in expanding holdings along the mineralized trend and supporting future discovery potential.

Notable Quotes

“The granting of the Cruzadillo investigation permit expands our property holdings in the mineralized trend of the IPB… Our team is currently designing the next phase of systematic exploration activities and drilling campaign to be carried out in 2026 at the Lomero project, including the Cruzadillo area.” – Serafino Iacono, Executive Chairman, Denarius Metals Corp.