Mr. Ari Sussman reports

COLLECTIVE MINING ADVANCES GUAYABALES EXPLORATION ADIT TOWARD Q4-2026 CONSTRUCTION; UNDERGROUND DRILLING AT TRAP TO COMMENCE IN Q1-2027

Considerable progress has been made across the engineering, site preparation and operational readiness workstreams required to support the development of the exploration adit at Collective Mining Ltd.'s Guayabales project in Caldas, Colombia. With the 1.8-kilometre access road now complete, the company is advancing immediately into portal platform and box-cut activities. The exploration adit is on schedule for commencement of construction in Q4 2026 and underground exploration drilling at Trap beginning in Q1 2027.

Ari Sussman, executive chairman, stated: "We are excited to begin drilling the Trap system from underground as we will be able to rapidly test the system from suitable drilling angles while testing for extensions to the mineralization. Following a recent detailed review with our geological team, I am confident that Trap has all the potential to develop into a second large-scale precious metal system at Guayabales. A key advantage to the Trap system is its proximity to both the exploration adit portal and the proposed future mining infrastructure. Should our underground drilling confirm the system as we expect, Trap would provide a second independent working front alongside Apollo, enhancing mill feed flexibility in a future mining scenario. On a final note, given the amount of mineralization we have found across the Guayabales project through limited surface drilling to date, I am not discounting the possibility that we end up discovering yet another mineralized system as the exploration adit advances to its final destination at the Apollo system."

Ned Jalil, chief executive officer, commented: "We are pleased with the rapid progress being achieved on site as we advance toward breaking ground on the exploration adit in Q4 2026. Once established, the adit will fundamentally expand the way we can explore Guayabales. Underground access will enable us to drill test Apollo's Ramp zone, the Trap system and the Plutus target over more than a vertical kilometre from optimal orientations that are not available from surface. We remain firmly on track to meet our planned milestones and look forward to providing further updates as work progresses."

Details

A 1.8-kilometre access road to the portal location has been completed by upgrading an existing path from the Pan American Highway. The road now reaches the planned portal area, enabling immediate commencement of a box-cut and portal platform construction.

Early works remain aligned with the company's execution schedule, which targets the start of adit construction in Q4 2026. Under the current timeline, initial underground drilling of the newly generated greenfield target Trap East is scheduled for Q1 2027. Drilling of the Trap Main system is expected to begin in the second half of 2027 once the adit has advanced sufficiently to allow construction of a crosscut, followed by drilling of both the Plutus target and the Ramp zone in 2028.

The selected portal location and access-road alignment lie within the area anticipated for future project infrastructure. Proximity to the Pan American Highway and existing power infrastructure will support efficient execution of the current exploration program and longer-term project planning.

Consistent with the Collective Way, the company is prioritizing local employment and procurement opportunities. Much of the current early works program work force has been sourced from communities within the department of Caldas.

All activities are being completed in accordance with the company's health and safety standards. Safety measures have been embedded into the engineering designs, contractor management and execution plans. The company continues to advance according to all applicable regulations required by regional authorities to support current and future phases of the project.

Trap system -- historical drill highlights

Mineralization at the Trap system outcrops at surface and has been sparsely drill tested along a 1.4-kilometre-long northwest-southeast-directed corridor. The system extends up to 900 metres vertically below surface, and remains open along strike and at depth. Notably, the planned exploration adit is positioned to intersect the currently known southeastern end of the Trap mineralized corridor.

The company currently has one rig testing for mineralization extending up to 200 metres farther northwest than all prior drilling, with initial results expected in late September. Previously announced drilling highlights demonstrated both broad zones of continuous mineralization and discrete high-grade vein zones, including:

• 632.25 metres at 1.10 grams per tonne gold equivalent from 172.65 metres, including 51.50 metres at 2.73 g/t AuEq and 46.35 metres at 2.41 g/t AuEq (TRC-7A);
• 646.00 metres at 0.81 g/t AuEq from 19.50 metres, including 301.50 metres at 1.01 g/t AuEq (TRC-2);
• 174.45 metres at 1.19 g/t AuEq from 485.15 metres, including 40.85 metres at 3.76 g/t AuEq (TRC-11);
• 30.00 metres at 4.96 g/t AuEq from 11.85 metres (TRC-14);
• 200.85 metres at 1.06 g/t AuEq from 4.55 metres, including 40.50 metres at 4.01 g/t AuEq (TRC-30);
• 2.80 metres at 234.15 g/t gold from 122.00 metres, including 0.80 metre at 816 g/t gold (TRC-26);
• 1.30 metres at 49.30 g/t gold from 18.15 metres (TRC-25).

Note: AuEq values are presented as originally reported in the applicable press releases. Please reference the corresponding release for further details on the metal equivalent calculations.

About Collective Mining Ltd.

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $1.4-billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The company's two projects are located directly within an established mining camp with 10 fully permitted and operating mines.

The company's flagship project, Guayabales, is anchored by Apollo, a large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten system. The company's objectives at the Guayabales project are to expand the newly discovered high-grade Ramp zone along strike and to depth, drill test the new outcropping Northern Apollo oxidized area, drill the recently granted licence covering the northwestern extension of the Trap target, and drill a series of greenfield generated targets across the property.

Management, insiders, a strategic investor, and close family and friends own 45.2 per cent of the outstanding shares of the company and, as a result, are fully aligned with shareholders. The company is listed on both the Nasdaq Stock Market and the Toronto Stock Exchange under the trading symbol CNL.

Qualified person and National Instrument 43-101 disclosure

David J. Reading, independent consultant, is the designated qualified person for this news release within the meaning of NI 43-101 and has reviewed and verified that the technical information contained herein is accurate and has approved of the written disclosure of same. Mr. Reading has an MSc in economic geology and is a fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

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