Mr. Serafino Iacono reports

DENARIUS METALS ANNOUNCES FIRST QUARTER 2026 PRODUCTION RESULTS FOR ITS ZANCUDO PROJECT IN COLOMBIA

Denarius Metals Corp. has provided the details of the production results achieved in the first quarter of 2026 during the early production phase at its Zancudo project in Colombia.

Serafino Iacono, executive chairman of Denarius Metals, commented: "We have been gradually increasing our daily average mining rates during the early production phase at our Zancudo project. This has allowed us to increase our shipments from 814 tonnes and 1,215 tonnes in the third and fourth quarters of 2025, respectively, to 2,337 tonnes in the first quarter of 2026. Head grades in the first quarter averaged 11.5 grams per tonne for gold and 269.3 g/t for silver, resulting in total revenue for the first quarter of 2026 of approximately $3.5-million (U.S.), up from $1.7-million (U.S.) reported for our 2025 fiscal year. We continue to advance mine development and plant construction activities toward our objective of commissioning our plant to produce gold-silver concentrates by the third quarter of this year."

During the first quarter of 2026, the company delivered a total of 2,337 tonnes mined at its Zancudo project to a local port for sale to Trafigura Pte. Ltd. under the company's long-term offtake agreement. With grades averaging 11.5 g/t gold and 269.3 g/t silver, these shipments contained approximately 863 ounces of gold and 20,237 ounces of silver. Payable gold and silver amounted to 593 ounces and 7,839 ounces, respectively. During the current early production phase, Trafigura's payability rates range from 30 per cent to 70 per cent for gold and 20 per cent to 40 per cent for silver, depending on the grades of the material. 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.

Denarius Metals commenced mining operations at its Zancudo project in the second quarter of 2025. The current early-production phase encompasses artisanal mining in accessible areas of the Zancudo project and is expected to run through the third quarter of 2026 as mine development progresses to open new fronts that are being developed for long-term conventional, semi-mechanized mining operations. In parallel, construction of the company's new 1,000-tonne-per-day processing plant is advancing, with commissioning expected to be completed in the third quarter of this year.

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 of 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 21.8-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 in northern Spain.

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