Collective Mining Deepens Its Colombian Bet with Strategic Hire, Adit Plan

MIAMI, FL – June 17, 2026 – Collective Mining is decisively shifting its flagship Guayabales Project in Colombia from a story of discovery to one of disciplined development. The company announced significant progress on a planned exploration adit—a tunnel designed to provide underground access to its prized Apollo deposit—with construction set to begin in the fourth quarter of this year. This critical infrastructure project is coupled with the strategic appointment of Josué Romanos, a veteran of Colombia's energy sector, as the new Vice President of Projects, signaling a clear acceleration towards the ultimate goal of production.

Unlocking Value from Below the Surface

For investors and industry observers, Collective Mining's plan to construct an exploration adit is more than just a logistical update; it represents a fundamental de-risking of a world-class asset. The Apollo system, a large-scale, high-grade deposit of gold, silver, copper, and tungsten, has been defined primarily through surface drilling. While effective, this method has its limits, particularly in the steep topography of the Colombian Andes. The new adit will change the game.

By tunneling directly into the mineralized system, the company will gain unparalleled underground access for more efficient and targeted drilling. This approach not only sidesteps topographical challenges that have limited exploration of certain zones, but it also yields far richer data. The adit will facilitate advanced geotechnical and hydrological characterization, providing crucial information on rock stability and water management that is essential for designing a future mine. Furthermore, it allows for the collection of large metallurgical bulk samples, which are vital for optimizing the processing flowsheet and ensuring economic viability. Progress is already tangible; the company has completed, and received regulatory approval for, an explosives storage facility, a key prerequisite for breaking ground.

"The progress on our exploration adit marks an important step in accelerating our understanding of the system from underground and advances the Guayabales Project towards our ultimate goal of production," commented CEO Ned Jalil. This move from surface-level understanding to in-situ analysis is a hallmark of a mature exploration project transitioning confidently toward a development phase.

The Colombian Connection: A Veteran Hand on the Tiller

Perhaps as significant as the physical tunnel is the human capital being brought in to oversee it. The appointment of Josué Romanos as Vice President, Projects, is a masterstroke in securing local execution expertise. Mr. Romanos is not just a seasoned project manager; he is a deeply connected and respected figure within Colombia's complex industrial landscape.

With over 30 years of experience, including more than 15 years at Ecopetrol, Colombia's national energy company, Romanos has a proven track record of delivering. As General Manager of Projects at Ecopetrol, he was responsible for the engineering, construction, and commissioning of a multi-billion-dollar capital portfolio. This experience is invaluable for navigating Colombia's regulatory environment, managing local supply chains, and ensuring a massive capital project is delivered on time and on budget. His deep roots in the country provide a level of operational assurance that cannot be overstated.

"To ensure the exploration adit and future construction is delivered responsibly and on budget, we are pleased to welcome Josué Romanos," Jalil stated, emphasizing that Romanos's experience "will be a significant asset as we continue to build a world-class company grounded in operational excellence and responsible development." For a foreign company operating in Colombia, having such a seasoned local veteran at the project's helm provides immense credibility and mitigates execution risk, a common concern for investors in the region.

Building a Fortress Balance Sheet and Local Trust

These operational advancements are built on a solid foundation of financial prudence and strategic foresight. As of March 31, 2026, the company held a robust cash position of US$113.3 million, providing a clear runway to advance its business plan through 2027 without immediate financing pressures. This financial strength is complemented by a tightly aligned shareholder structure, with management, insiders, and close associates owning 45.2% of the company—a powerful indicator that leadership’s interests are directly tied to long-term value creation.

The company has also been proactive in securing its future on the ground. In a critical de-risking move earlier this year, Collective acquired all remaining surface rights necessary for a potential mining operation, demonstrating a long-term commitment to the project and the region. This foresight extends to community relations, where the company has partnered with the local Chamber of Commerce in Manizales to promote sustainable mining practices among smaller local operators.

This commitment to responsible operation is crucial in a region where environmental and social license is paramount. While the company faced and refuted allegations in a 2025 short report regarding its drilling practices, its stock recovered as it affirmed its compliance with Colombian law. By operating within a well-established mining camp in Caldas, adjacent to major projects like Aris Mining’s Marmato mine, Collective is positioning itself not as an outsider, but as an integral part of a thriving regional industry, poised to turn geological potential into tangible economic reality.