Collective Mining Taps Industry Heavyweight for Colombian Gold Push

TORONTO, ON – January 19, 2026 – Collective Mining Ltd. has announced a significant reinforcement of its leadership team, appointing seasoned executive Carlos Andrés Santos as its new Executive Vice President. The move signals a strategic escalation of the company's ambitious growth plans in Colombia as it launches its largest exploration program to date.

Mr. Santos, whose appointment is effective immediately, joins the gold and multi-metal explorer at a pivotal moment. Collective is deploying significant capital—backed by a healthy US$135 million cash position as of late 2025—to aggressively advance its flagship Guayabales and San Antonio projects. The addition of an executive with deep operational and regional expertise is seen as a critical step to optimize execution and de-risk this major operational scale-up.

A Strategic Play for Colombian Expansion

The appointment is far from a routine corporate shuffle. It is a calculated move to embed top-tier operational leadership into the company's core as it transitions into a more complex and capital-intensive phase. Collective is planning an unprecedented 100,000-meter drill program for 2026, with up to 14 rigs expected to be active across its properties. This represents a substantial increase from the 70,000 meters drilled with nine rigs in 2025.

Collective's CEO, Ned Jalil, emphasized the strategic fit of the new hire. "We are delighted to welcome Carlos to the Collective team," he stated in the official press release. "His deep operational expertise, proven leadership in Colombia and extensive background in managing large-scale transformations in resource-intensive industries make him an outstanding addition as we enter an exciting growth phase."

Jalil directly linked the appointment to the company's immediate objectives, noting, "Strengthening our management team is a top priority as we launch major technical studies, our largest-ever drill program and advance key discoveries at the Guayabales Project."

Mr. Santos's role will be crucial in overseeing the logistical and strategic execution of this campaign, ensuring that the company's substantial investment translates into tangible results and shareholder value.

From Global Operations to High-Grade Gold

Mr. Santos brings over two decades of senior leadership experience from some of the Americas' most prominent resource and industrial companies. His resume showcases a strong track record in managing vast, complex operations, a skill set increasingly vital for exploration companies on the cusp of major development.

Most recently, he served as CEO of Americas Business Services at global building materials giant Holcim / Amrize. In that capacity, he was responsible for driving growth and cash-generation strategies across a region spanning from Canada to Argentina, leading a team of over 1,400 employees and holding full accountability for finance, procurement, sales, and data management.

Prior to that, he held a key executive role at Ecopetrol S.A., Colombia's largest integrated energy company. As the Vice President of Supply Chain & Shared Services, he directed large-scale strategic organizations with substantial budgets, where he was tasked with improving efficiency, transparency, and sustainability—all critical priorities for a modern mining operation. His career also includes extensive international experience in supply chain and procurement with BP across Colombia, Alaska, and London.

This background in high-stakes logistics and corporate transformation is expected to provide Collective with the operational discipline required to manage its expanding footprint and prepare its projects for potential future development phases.

Navigating Colombia's Complex Mining Landscape

The timing of Mr. Santos's appointment is particularly noteworthy given the current climate in Colombia's mining sector. The industry is navigating a period of significant regulatory uncertainty. Policies under the current administration, including Decree 044 which grants the environment ministry new powers to restrict mining, have contributed to a slowdown in foreign investment. Reports indicate that foreign direct investment in mining fell sharply between 2023 and 2025.

Furthermore, a proposed new mining law introduced to Congress in late 2025 aims to radically transform the sector, with provisions to formalize artisanal mining and potentially phase out open-pit operations. While the bill's future is uncertain, it adds another layer of complexity for operators.

In this environment, securing top-tier leadership with proven, in-country experience is a distinct competitive advantage. As a Colombian national with an extensive history at Ecopetrol, Mr. Santos possesses the regional network and nuanced understanding of the local operational, regulatory, and socio-political landscape. His expertise will be invaluable in steering the company through these challenges, managing community relations, and ensuring projects advance in a sustainable manner.

Accelerating Flagship Projects in the Cauca Belt

The primary focus of Collective's expanded efforts is its portfolio within Colombia's prolific Middle Cauca belt, a region known for its mineral wealth. The flagship Guayabales Project is anchored by the Apollo system, a discovery that continues to impress with its scale and grade.

Apollo is described as a large-scale, bulk-tonnage system containing high-grade gold, silver, copper, and tungsten. Recent drilling in the project's Ramp Zone has yielded remarkable results, including an intercept of 24.80 meters at 29.42 g/t gold. The system has been drill-tested over a significant area and remains open for expansion in multiple directions, representing a core driver of the company's valuation.

Simultaneously, the nearby San Antonio Project is the target of its own aggressive drill campaign. The company is working to expand upon a newly discovered porphyry system at the 'Pound' target, which has already shown mineralization over a strike length of 825 meters. Located just a few kilometers from Guayabales, the project offers the potential for significant synergies and shared infrastructure in a future development scenario.

With a management team and insiders holding a 45.3% stake in the company, interests are closely aligned with shareholders. The strategic addition of Carlos Andrés Santos to the executive team underscores a determined effort to apply world-class operational discipline to unlock the full potential of these promising Colombian assets.