Denarius Metals Corp. · NEO:DMET
Denarius Metals — Investor Presentation (July 2025)
38 slides from Denarius Metals's investor presentation, July 2025
Slide 1: Emerging Multi-Asset Producer Corporate Presentation July 2025
Emerging Multi-Asset Producer In Production at Colombia’s Newest Gold Mine Near Term Critical Minerals Production from one of the EUs Key Strategic Projects Corporate Presentation July 2025 Cboe CA: DMET | OTCQX: DNRSF
Slide 2: Cautionary Notes
Cautionary Notes Forward Looking Statements This presentation contains statements that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Any statements that express or involve discussions with respe
Slide 3: Emerging Multi Asset Producer in Colombia and Spain
Emerging Multi Asset Producer in Colombia and Spain Near-Term Production Zancudo started mining operations in April 2025; Aguablanca Coming Into Production in the Next 12 Months In-Demand Critical Minerals Au, Ag, Cu, Ni, Pb, Zn, Co, Pt, Pd Favorable Proximity The Right Jurisdictions; Proximal to Ne
Slide 4: Our Projects
Our Projects Two Projects Coming Into Production in the Next 12 Months Zancudo Project Aguablanca Project Ni, Cu, Co, Pt, Pd, Au Au, Ag Designated by the European Historic underground mine in Commission as a “Strategic Project”. Colombia’s Cauca Belt in the Department of Antioquia. Located ~88km fro
Slide 5: Company Overview
Company Overview Number Expiry Exercise Price Per Share Management Common shares (DMET) 122,354,870 Serafino Iacono Executive Chairman Shares issuable for: Listed warrants (DMET.WT) (1) 7,500,000 2026 CA$8.00 Federico Restrepo-Solano Chief Executive Officer Unlisted warrants 80,370 2026 CA$8.00 Mich
Slide 6: Zancudo Project Highlights
Zancudo Project Highlights 100% Owned through Cauca Belt, Colombia Zancudo Metals Au Ag Medellin Located in a Historic Mining District Zancudo Project Municipality of Titiribí, Department of Antioquia, ~30 km SW of Medellin. Mining of high-grade gold-silver-quartz veins was carried out in the Zancud
Slide 7: Zancudo Project - A Rich History
Zancudo Project - A Rich History 1746 Gold first discovered in the Zancudo district. Mining has been carried out since 1793 in 58 mines. The Sociedad del Zancudo mining company was created. Regarded as 1848 one of Colombia’s most important companies of the 19th century, it operated until 1948. First
Slide 8: Zancudo Project - Location
Zancudo Project - Location The Zancudo Project comprises: • three adjoining mining concession contracts (HDWA-02, H5911005 and C5521011) and one exploration license (HEOM- 12); • a total area of 1,054 hectares; and • is located about 30 km SW, about a 1.5 hour drive by paved road, from Medellin. For
Slide 9: Zancudo Project - Mineral Resource Estimate of 1,060,000 AuEq Ounces
Zancudo Project - Mineral Resource Estimate of 1,060,000 AuEq Ounces The following table(1) summarizes the Inferred Mineral Resource estimate (“MRE”) for the Zancudo Project effective as at October 24, 2023: Grade Material Content Tonnes Category Au Ag AuEq Au Ag AuEq (kt) (g/t) (g/t) (g/t) (koz) (k
Slide 10: Zancudo Project - Preliminary Economic Assessment
Zancudo Project - Preliminary Economic Assessment (1) (2) “ Key Economic Parameters of the PEA effective as at October 24, 2023: Assumption / Results 2023 PEA Total tonnes processed over the LOM Total waste mined over the LOM Gold grade mined – LOM average (g/t) Silver grade mined – LOM average (g/t
Slide 11: Zancudo Project - Commenced Mining Operations in April 2025
Zancudo Project - Commenced Mining Operations in April 2025 • Local contract miner started mining operations in April 2025 and is carrying out mine development in two main fronts over the next 4-6 months. Others to follow. • By-pass road construction in process. • Crushing equipment (500 tpd) instal
Slide 12: Zancudo Project - First Shipment Completed in June 2025
Zancudo Project - First Shipment Completed in June 2025 During the current “early production” phase, material from the Zancudo mine is being crushed and shipped to port for sale to Trafigura. This arrangement provides Denarius Metals with an opportunity to generate cash flow while construction is co
Slide 13: Zancudo Project - Significant Exploration Upside
Zancudo Project - Significant Exploration Upside Mineralization occurs in stacked mantos and steeply dipping veins that have been exploited over a strike length of 3,500 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. “Potentia
Slide 14: Zancudo Project - Significant Exploration Upside
Zancudo Project - Significant Exploration Upside Las Brisas - Drilling Results Announced April 16, 2025 (1) • 13 drill holes from the Los Albertos target, totaling ~2,435 meters. • Multiple high gold and silver grades have been intersected in most of the drill holes. • Confirms the continuity of the
Slide 15: An Opportunity to Develop Near-Term Production and Cash Flow
An Opportunity to Develop Near-Term Production and Cash Flow BINDING LETTER OF INTENT WITH QUIMBAYA GOLD FOR A 50/50 JOINT VENTURE TO EXPLOIT THE TAHAMI PROJECT IN THE SEGOVIA GOLD DISTRICT OF COLOMBIA (1) • A 50/50 partnership between Denarius Metals and Quimbaya, where the costs and expenses will
Slide 16: Spain
Spain A Historic, Prolific and Supportive Mining Jurisdiction According to the latest Spain has a rich history of The Spanish mining industry The Spanish mining sector Spain is considered a The mining industry in Spain Eurostat estimates, Spain's mining, with evidence of is composed of both employs
Slide 17: In-Demand Critical Minerals
In-Demand Critical Minerals Powering a Low-Carbon Future Nickel Copper Zinc Lead Silver Aguablanca Project Aguablanca Project Aguablanca Project Aguablanca Project Zancudo Project Extremadura, Spain Extremadura, Spain Extremadura, Spain Extremadura, Spain Cauca Belt, Colombia Lomero Project Lomero P
Slide 18: Near-Term Producer of Low Carbon Metals in Europe
Near-Term Producer of Low Carbon Metals in Europe Toral Project Future Underground Mine Centralized processing at the Rio Narcea plant located in Extremadura, Spain Zn-Pb-Ag • 5,000 tpd turnkey processing plant using conventional crushing, grinding and flotation processes • Fully permitted • Central
Slide 19: Aguablanca Project – A Low Carbon Metals Producer
Aguablanca Project – A Low Carbon Metals Producer Through the combination of underground mining and the processing of the concentrates at Boliden’s Harjavalta smelter in Finland (lowest CO2 footprint of all nickel smelters), the Aguablanca Project is projected to be in the top quartile of estimated
Slide 20: In-Demand Critical Minerals - Proximity to Nearby Producers
In-Demand Critical Minerals Proximity to Nearby Producers AGUABLANCA and Projects Approximate distance from Lomero to: Aguablanca Project and 5,000 tpd Plant 88 km Lundin Mining - Neves-Corvo 136 km Sandfire Matsa - Aguas Tenidas 10 km Atalaya Mining - Rio Tinto 46 km First Quantum - Las Cruces 110
Slide 21: Aguablanca Project Highlights
Aguablanca Project Highlights Extremadura, Spain 21% Owned through Alto Minerals S.L.U.; Operator of the Project Recognized by the European Ni Cu Co Pt Pd Au Commission in a March 25, 2025 250km Glencore Zinc Smelter decision as a “Strategic Project” Toral Project Historic Producer with Turnkey Proc
Slide 22: Aguablanca Project - A Rich History
Aguablanca Project - A Rich History 1994 Discovery of the Ni-Cu deposit in Aguablanca 1996 Atlantic Copper acquires rights to exploit the Deposit 2001 Rio Narcea Recursos S.A. acquires rights to exploit the Deposit Environmental Impact Statement (EIS) received by the authorities. 2003 Beginning of p
Slide 23: Aguablanca Project Mineral Resources and Reserves Estimate
Aguablanca Project Mineral Resources and Reserves Estimate Mineral Resource Estimate Effective Date March 24, 2024 Grade Contained Metal Resource Cutoff Tonnage Ni Cu Co Pd Pt Au NiEq Ni Cu Co Pd Pt Au NiEq Category (Ni%) (K tonnes) (%) (%) (%) (ppm) (ppm) (ppm) (%) (Klbs) (Klbs) (Oz) (Oz) (Oz) (Oz)
Slide 24: Aguablanca Project - Pre-Feasibility Study
Aguablanca Project - Pre-Feasibility Study (1) “ Key Economic Parameters of the PFS effective as at March 24, 2024: Assumption / Results 100% Basis (*) Total tonnes processed from underground mining over the LOM 4,807,000 Average LOM process rate 2,403 tpd The PFS confirms our decision late last yea
Slide 25: Cboe CA: DMET | OTCQX: DNRSF
Cboe CA: DMET | OTCQX: DNRSF 25
Slide 26: Aguablanca Project – Exploration Upside
Aguablanca Project – Exploration Upside The potential exists to extend the mine life of the Aguablanca Project beyond the currently estimated 6 years. This would require a drilling program focused North orebody on expansion to depth of the mineral Main orebody resources as well as expanding the reso
Slide 27: Lomero Project Highlights
Lomero Project Highlights Iberian Pyrite Belt, Spain 100% Owned through Alto Minerals S.L.U. 250km Glencore Zinc Smelter Toral Project Cu Zn Pb Au Ag Spain Located in a World Class Mining District 800km The Iberian Pyrite Belt is the largest concentration of massive sulfides in the Madrid world. The
Slide 28: Lomero Project - A Rich History
Lomero Project - A Rich History Exploration Production Billition Mining commenced in the late 1850’s and continued until 1990 1984 Conducted a program of 60 underground diamond drilling holes A small amount of ore came from the two pits at Lomero (east) and Poyatos (west), but most of the historical
Slide 29: Lomero Project – Investigation Permits Located on IPB Mineralized Trend
Lomero Project – Investigation Permits Located on IPB Mineralized Trend Palomarejo Lomero-Poyatos • 454 hectares • 151 hectares area adjacent to and on strike with the mineralized Lomero-Poyatos deposit • 100% held by Alto Minerals S.L.U., a subsidiary of Denarius Metals • 100% held by Alto Minerals
Slide 30: Lomero Project - Mineral Resource Estimate
Lomero Project - Mineral Resource Estimate Denarius Metals prepared an NI 43-101compliant MRE(1) for the Lomero Project effective July 31, 2023 Category Tonnes Gold Gold Metal Silver Silver Metal Copper Copper Metal Zinc Zinc Metal Lead Lead Metal CuEq Grade Content Grade Content Grade Content Grade
Slide 31: Toral Project Highlights
Toral Project Highlights Leon Province, Spain 100% through Europa Metals Iberia S.L. 250km Glencore Zinc Smelter Toral Project Zn Pb Ag Spain Located in a Well-Mineralized Historic Mining Area and Proactive Jurisdiction Represents a unique opportunity to develop a high-quality base metal project in
Slide 32: Toral Project - A Rich History
Toral Project - A Rich History 1972 to Peñarroya-Adaro 1984 80 holes and 40 deviations (~45,000 m) drilling 1992 Geominera to Re-evaluation 1995 2005 Lundin Mining to 7 holes (4,700 m) 2008 2009 Goldquest Mining to Soil and rock geochemistry, old labors mapping, 2011 re-evaluation, MICON NI-43-101 2
Slide 33: Toral Project - Mineral Resource Estimate
Toral Project - Mineral Resource Estimate Europa Metals published (1) an updated JORC 2012 compliant MRE (2) for the Toral Project in November 2022 Europa Metals’ successful 2022 drilling campaign led to a 19% increase in the Indicated MRE and a 14% increase in overall grade. A total of 61,545 m of
Slide 34: Toral Project - 2023 Exploration Program
Toral Project - 2023 Exploration Program The 2023 drilling campaign, funded by Denarius Metals under the former Option Agreement with Europa Metals, comprised of 9 holes for a total of approximately 6,200 meters. The drilling campaign represented a combination of confirmatory drilling followed by a
Slide 35: Toral Project - Next Steps
Toral Project - Next Steps Approval is pending of a formal application for a mining license for the Toral Project that was completed and submitted by October 2023 to the Junta of Castille and Leon, the local mining authority. Preparing an updated Mineral Resource estimate in advance of the preparati
Slide 36: Sustainability
Sustainability Mining for the Future Denarius Metals’ board and management team have a long history of positively impacting areas of operations through tailored sustainability initiatives. Quality education in our areas of influence relates to both children and youth, as well as higher-level educati
Slide 37: Why Invest
Why Invest In-Demand Critical Metals Favourable Proximity High Grades Rich History Proven Team We are focused on in demand metals We are in the right jurisdictions We have quality high-grade projects There’s rich history where our We have the right team that projects are located knows how to unlock
Slide 38: Have Questions?
Have Questions? GET IN TOUCH WITH DENARIUS METALS Investor Relations +1 (416) 360-4653 investors@denariusmetals.com www.denariusmetals.com