Mr. Alexandre Boivin reports

QUIMBAYA GOLD ANNOUNCES UPSIZE OF BOUGHT DEAL FINANCING TO $12.5 MILLION

Due to investor demand, Quimbaya Gold Inc. has entered into an amended agreement with Stifel Canada to act as sole underwriter and bookrunner, to increase the size of its previously announced bought deal private placement offering, pursuant to which the underwriter has agreed to purchase on a bought deal basis, 17.9 million units of the company (the LIFE units) at a price of 70 cents per LIFE unit for aggregate gross proceeds of $12.53-million, with the LIFE units to be issued pursuant to the listed issuer financing exemption (as defined below).

The company has granted to the underwriter an option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to an additional 15 per cent of LIFE units at the offering price for additional gross proceeds of up to $1,879,500.

Each LIFE unit will consist of one common share and one-half of one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share for a period of 36 months following the closing date of the offering at an exercise price of $1.00 per common share.

The net proceeds from the offering are expected to be used to advance the company's exploration programs, including drilling at the Tahami South project and follow-up work on regional copper-gold and gold targets, as well as for general working capital.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions (NI 45-106), the LIFE units will be offered for sale to purchasers resident in Canada other than Quebec and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Because the offering is being completed pursuant to the listed issuer financing exemption, the LIFE units issued pursuant to the offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the offering that can be accessed under the company's issuer profile on SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

The offering is scheduled to close on or about Nov. 4, 2025 (the closing date), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the Canadian Securities Exchange.

About Quimbaya Gold Inc.

Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific gold mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami project), Puerto Berrio (Berrio project) and Abejorral (Maitamac project), all located in Antioquia province, Colombia.

We seek Safe Harbor.