Updated Mineral Resource Estimate For Zancudo Project

TORONTO – Denarius Metals Corp. has completed an updated Mineral Resource estimate (MRE) for its Zancudo Project in Colombia.

Highlights of the Updated Mineral Resource Estimate: 1) The conversion of 979,000 tonnes to Indicated Resources grading 6.9 g/t gold and 84 g/t silver totaling 217,000 ounces of gold and 2.7 million ounces of silver, reflecting the positive impact of the 2024 in-fill drilling campaign, which was designed with tighter spacing at 50×50 m drill centers to de-risk the near-term underground production at the Zancudo Project. 2) A 13% increase in tonnage resulted in total Inferred Resources of 4.6 million tonnes grading 5.6 g/t gold and 84 g/t silver totaling 832,000 ounces of gold and 12.5 million ounces of silver. 3) Mineralization at the Zancudo Project occurs in stacked mantos and steeply dipping veins that have been exploited over a strike length of 2,500 m. The average vein width is 0.35 m with a maximum width of 3.0 m. The known vertical extent of mineralization is 400 m. 4) The database for the updated MRE includes a total of 47,329 m of diamond drilling in 194 holes, including 7,225 m in 45 holes completed in the Company’s 2024 drilling campaign. 5) The Zancudo deposit remains open for further expansion in all directions.

Serafino Iacono, Executive Chairman, said, “Following our successful in-fill drilling campaign at our Zancudo Project in 2024, and in light of the more robust metals price environment, we are currently in the process of preparing an updated preliminary economic assessment (PEA) for our Zancudo Project. We are pleased to announce that, as part of the PEA process, we have completed a detailed review of the geological model for the Zancudo Project, incorporating the expected positive impact of our 2024 in-fill drilling campaign and updated metal prices. This has resulted in a significant increase in the tonnage in our updated MRE and has converted approximately 23% of the gold-equivalent resources from the Inferred to the Indicated category.”