Mr. Michael Davies reports

DENARIUS METALS ANNOUNCES PRIVATE PLACEMENT AND STRATEGIC INVESTMENT IN COPPER GIANT RESOURCES, GAINING EXPOSURE TO ITS WORLD CLASS MOCOA COPPER-MOLYBDENUM PROJECT IN SOUTHERN COLOMBIA

Denarius Metals Corp. has entered into a binding term sheet with Copper Giant Resources Corp. under which the company will make a strategic equity investment in Copper Giant through a non-brokered private placement. The Copper Giant financing will generate aggregate gross proceeds of approximately $31.0-million, with a lead order from the company of $28.8-million to acquire a 15.6-per-cent equity interest in Copper Giant on closing. Frank Giustra and Ian Harris, president and chief executive officer of Copper Giant, are also participating in the Copper Giant financing. Copper Giant also concurrently announced today an offtake agreement with Trafigura Pte. Ltd., described in more detail below.

Serafino Iacono, executive chairman of Denarius Metals, commented: "We know Colombia and we know what it takes to move a project from resource to operation. Copper Giant's Mocoa project stands out for its scale, its copper-molybdenum endowment and its potential importance to Colombia's mining future. We are investing as a long-term partner because we believe Copper Giant has the asset and the team to advance it responsibly."

Ian Harris, president and chief executive officer of Copper Giant, commented: "This transaction changes the trajectory of Mocoa. Denarius Metals' investment gives us the capital to move through the PEA and accelerate the next phase toward a construction decision, while Trafigura provides a long-term route to global markets. Together, these partners bring Colombian operating experience, market reach and long-term alignment at a pivotal moment for copper and for Colombia."

Edmundo Vidal, director Latin America of Trafigura, added: "Colombia has the geological conditions and the opportunity to become an important copper producer. We are pleased to see projects like Mocoa develop, especially given the country's recognition of copper as a strategic mineral. Our long-term offtake at Mocoa reflects both our confidence in the project, and our strategy of working with producers to bring new supply to customers around the world."

Highlights

• World-class deposit: Copper Giant's current focus is the Mocoa copper-molybdenum deposit located in the Putumayo Department of southern Colombia. With an inferred mineral resource of 1.1 billion tonnes at 0.51 per cent CuEq (copper equivalent) (0.31 per cent Cu and 0.039 per cent Mo (molybdenum)), Mocoa hosts one of the largest undeveloped copper-molybdenum deposits in the Americas containing 7.6 billion pounds of copper and 1.0 billion pounds of molybdenum. The Mocoa project sits within a larger porphyry copper belt with significant district-scale exploration potential. The deposit extends over 2.0 kilometres in strike length and remains open in multiple directions. Recent drilling has identified new high-grade zones. The project benefits from excellent infrastructure including road access, nearby communities and proximity to power lines.
• Strategic investment: Denarius Metals has agreed to subscribe for 40 million common shares at 72 cents per share for a total investment of $28.8-million. Following closing of the Copper Giant financing, the company will have a 15.6-per-cent equity interest in Copper Giant. Federico Restrepo-Solano, chief executive officer of the company, will be appointed to Copper Giant's advisory board.
• Shareholder alignment: Denarius Metals, Mr. Giustra and Mr. Harris have each agreed to enter into two-year lock-up arrangements in connection with the Copper Giant financing.
• Use of proceeds: Proceeds of the Copper Giant financing will be directed at the next phase of work at the Mocoa project, beyond the preliminary economic assessment currently under way and toward a construction decision, including resource conversion drilling, district-scale exploration, and the geotechnical, hydrogeological and environmental programs required to support project advancement, together with general corporate purposes.
• External validation through long-term offtake agreement: Concurrent with the Copper Giant financing, Copper Giant has announced that it will grant Trafigura the right and obligation to purchase 20 per cent of the copper concentrate and 20 per cent of the molybdenum concentrate produced from the Mocoa project for a period of 10 years from the commencement of commercial production. The long-term offtake agreement was entered into by Copper Giant and Trafigura on arm's-length market terms, subject to minimum delivered volumes over the period, failing which Trafigura may elect to extend the term.

It is expected that closing of the Copper Giant financing will occur on or about Aug. 21, 2026. The common shares acquired by the company will be subject to a four-month-and-one-day hold period. On closing, Denarius Metals will become a new insider of Copper Giant pursuant to Canadian securities laws and will be subject to all insider filings.

Completion of the Copper Giant financing is subject to the execution of definitive documentation, the respective internal and corporate approvals of each party, including any board or shareholder approval, if required, and the approval of the TSX Venture Exchange. There can be no assurance that the Copper Giant financing will be completed as proposed or at all.

Denarius Metals private placement

Denarius Metals also announced today that it will be completing a concurrent non-brokered private placement with Trafigura, raising approximately $28.8-million in cash to be used by the company to finance its strategic investment in Copper Giant. Pursuant to the Denarius financing, Trafigura will acquire 67 million common shares of the company at 43 cents per share and 12.5 million common share purchase warrants with an exercise price of 60 cents per share expiring three years after closing of the Denarius financing. The common shares and warrants acquired by Trafigura in the Denarius financing will be subject to a four-month-and-one-day hold period. On closing, Trafigura will own approximately 14.9 per cent of the company's issued and outstanding common shares, becoming a new insider of the company pursuant to Canadian securities laws and will be subject to all insider filings.

It is expected that closing of the Denarius financing will occur on or about Aug. 21, 2026. Completion of the Denarius financing is subject to the execution of definitive documentation, the respective internal and corporate approvals of each party, including any board or shareholder approval, if required, and the approval of the Cboe Canada Exchange. There can be no assurance that the Denarius financing will be completed as proposed or at all.

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 in the fourth 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 S.L. 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 km 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.

Denarius Metals entered into a strategic collaboration in early 2026 as JV (joint venture) partners with ProGrowth Ltd. company, a Saudi-based diversified group of companies, focused on the processing, smelting and commercialization of material sourced from the company's projects and to identify, acquire, develop, and operate gold and nickel mining concessions within the KSA.

About the Mocoa project

The Mocoa project is located in Colombia's Department of Putumayo, approximately 10 kilometres from the town of Mocoa in the country's south. Copper Giant controls more than 128,300 hectares of district-scale tenure through granted titles and applications, covering a significant portion of the Jurassic porphyry belt -- an underexplored and highly prospective metallogenic corridor within the northern Andes.

Mocoa was first identified in 1973 through a regional geochemical survey conducted by the United Nations and the Colombian government. Follow-up programs between 1978 and 1983 included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Subsequent drilling by B2Gold in 2008 and 2012 refined the geological interpretation and confirmed the large scale of the system.

The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics of the Central Cordillera, a 30-kilometre-wide tectonic belt that extends into Ecuador and also contains major porphyry systems such as Mirador, Warintza, San Carlos and Panantza. Mocoa exhibits classic porphyry-style zonation with a potassic core surrounded by sericite and propylitic alteration. Mineralization consists principally of disseminated chalcopyrite and molybdenite, accompanied locally by bornite and chalcocite, and is associated with stockwork veining and hydrothermal breccias.

A distinguishing geological feature of Mocoa is the presence of a fertile magmatic window spanning roughly 10 million years, a prolonged and unusually productive interval of magma generation and evolution that is not commonly observed in other Jurassic porphyry systems within the same belt. This extended fertile period provides a compelling explanation for the system's large metal endowment, broad alteration footprint, and overlapping intrusive and hydrothermal events.

The deposit demonstrates more than 1,100 metres of vertical continuity, with multiple intrusive phases, brecciation episodes, and vein generations reflecting a dynamic and long-lived magmatic-hydrothermal evolution, likely influenced by more than one porphyry centre. Mocoa remains open along several directions and several satellite targets across the broader land package support the interpretation of a district-scale mineralized system.

We seek Safe Harbor.