DENARIUS METALS ANNOUNCES STRATEGIC COLLABORATION TO DEVELOP AND COMMERCIALIZE MINING, METALS AND CRITICAL MINERALS OPPORTUNITIES WITHIN THE KINGDOM OF SAUDI ARABIA

Executive Summary

• Denarius Metals Corp. entered into a joint‑venture partnership with Saudi‑based ProGrowth Ltd., creating a strategic collaboration to process, smelt and commercialize metals from its Spanish Lomero and Toral projects and to explore gold‑ and nickel‑bearing concessions in the Kingdom of Saudi Arabia (KSA).
• The alliance aligns with Saudi Vision 2030 and may lead to a future equity investment by ProGrowth in Denarius Metals.
• The collaboration leverages ProGrowth’s engineering, construction, trading and mining expertise to accelerate Denarius Metals’ entry into the KSA market.

Key Details

• Parties: Denarius Metals Corp. (Cboe CA: DMET / OTCQX: DNRSF) and ProGrowth Ltd. (“ProGrowth”), a diversified Saudi group with capabilities in construction, oil & gas, petrochemicals, mining, trading and technology‑enabled services.
• Scope of Collaboration:
• Establish arrangements in the KSA for processing, smelting and commercialization of material sourced from Denarius Metals’ Lomero (polymetallic) and Toral (zinc‑lead‑silver) projects in Spain.
• Identify, acquire, develop and operate gold and nickel mining concessions within Saudi Arabia.
• Strategic Rationale: Aligns with Saudi Vision 2030 objectives of localizing mineral processing and developing a domestic critical minerals supply chain; provides Denarius Metals with a foothold in the rapidly growing KSA mining sector.
• Potential Equity Component: The partnership “could ultimately lead to a strategic equity investment” by ProGrowth in Denarius Metals, subject to future negotiations and approvals.
• Executive Comment: Executive Chairman Serafino Iacono stated that the collaboration will open doors for Denarius Metals in Saudi mining and metals, potentially resulting in an equity stake.
• Company Background (retained for context):
• Spain Projects: 22 % interest in Rio Narcea Recursos (operator of Aguablanca nickel‑copper project) and 100 % interests in Lomero (polymetallic) and Toral (high‑grade zinc‑lead‑silver).
• Colombia Project: Early‑stage gold‑silver production at Zancudo, with a 1,000 t/d processing plant slated for Q3 2026.

Notable Quotes

• “Aligned with Saudi Vision 2030, we look forward to building this alliance with ProGrowth to develop and commercialize metals and critical minerals from our projects in Spain and new projects in the KSA.” – Serafino Iacono, Executive Chairman, Denarius Metals.