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Collective Mining Firmly Denies False Claims

In a recent announcement, Collective Mining Ltd. (NYSE: CNL, TSX: CNL) has unequivocally dismissed the false and misleading claims made in a thesis report released earlier this week. Since its inception in 2020, Collective Mining has operated with integrity in accordance with Colombian mining regulations, particularly concerning its exploration activities at the Guayabales and San Antonio projects.

Commitment to Compliance and Environment

The company highlights its rigorous adherence to environmental standards and legal requirements while assessing the feasibility of potential mining operations at its Apollo system located within the Guayabales Project. Collective Mining's Executive Chairman, Ari Sussman, stated that the company has a robust operational history in Colombia, spanning almost 20 years. He stressed that the minor inconsistencies and gaps mentioned in the false report are common issues within the industry, further noting the successful resolution of similar matters during previous endeavors at Continental Gold.

Company President, Omar Ossma, who brings over two decades of experience in the Colombian mining and energy sector, echoed Sussman’s sentiments. He affirmed the company’s legal, transparent exploration practices aligning with local laws and regulations, defending against allegations that misinterpret Colombia's complex mining laws. Ossma stated, “The claims lack legal basis and reflect a misunderstanding of the conditions governing our operations.”

Exploration Obligations and Legal Framework

Collective Mining ensures that all necessary exploration activities are conducted within legal frameworks. The company reassures stakeholders that its mining titles are valid and completely in good standing. Notably, the report pointed out small incomplete cells—gaps within mining titles—as a focal concern; however, these do not undermine the integrity of the company's operations. According to the company, these cells exist within its Apollo system and cannot be claimed by third parties. The process to resolve such issues is already underway, further corroborated by communications from Colombian authorities.

The company clarified that drilling activities may occasionally require platforms located inside or outside the established mining boundaries, which is permissible under Colombian mining law. The objectives of these operations are to provide a thorough understanding of geological formations, which entails various technological assessments related to mining feasibility.

Environmental and Community Considerations

Collective Mining underscored the measures taken to ensure compliance with environmental laws, stating that while drilling in proximity to water drainage areas necessitates special permits, such requests have been duly filed and granted by local environmental authorities. The firm's commitment to sustainable exploration aligns with the broader interests of local communities and the environment, as highlighted in its operations near Marmato, where ten permitted and functioning mines are situated within a three-kilometer radius of the Guayabales Project.

Operational Expansion Plans

On a promising note, the company is proactive in expanding its exploration programs. Currently, Collective Mining is running a fully financed drilling operation encompassing 70,000 meters for 2025, with plans to increase its drilling capacity following successful outcomes from recent drill core inspections at the San Antonio Project. The company also boasts effective infrastructure management, ensuring the rights acquired for surface operations cover the entirety of the known dimensions of the Apollo system.

With a strong managerial team invested in the company, collectively owning 44.5% of the outstanding shares, Collective Mining is well-positioned to safeguard shareholder interests while promoting ethical mining practices. As it navigates through this challenging scenario of misinformation, Collective Mining remains steadfast in its commitment to responsibly advance its mining initiatives, ensuring the accuracy of its operational disclosures and community engagement.

For further insights into Collective Mining Ltd. and to stay updated, visit www.collectivemining.com.