Denarius Metals Corp. · NEO:DMET
Denarius Metals — Investor Presentation (October 2026)
29 slides from Denarius Metals's investor presentation, October 2026
Slide 1: Emerging Multi-Asset Producer
Emerging Multi-Asset Producer Producing Gold & Silver in Colombia Today Restarting One of Europe’s Strategic Nickel & Copper Mines Next Corporate Presentation October 2026 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: An Emerging Multi Asset Producer
An Emerging Multi Asset Producer PRODUCE Zancudo Project (100%) - Au, Ag Gold and silver production is underway at the Zancudo Project in Colombia. Early production material is being sold to Trafigura under a long-term offtake agreement while our new processing plant advances toward Q4-2026 commissi
Slide 4: Year-To-Date Highlights
Year-To-Date Highlights Growing production at Zancudo Project - 6,244 tonnes delivered in H1-2026 @ 11.4 g/t Au and 236.6 g/t Ag - 1,516 ozs Au and 17,143 ozs Ag payable production in H1-2026 resulting in $8.4M of revenue and US$3.3M of gross profit - positive early results from 2026 drilling campa
Slide 5: Upcoming Catalysts
Upcoming Catalysts Commercial production at the Zancudo Project - advancing plant construction and mine development to begin production of Au-Ag concentrates by Q4-2026 - expect payable production for 2026 of 7,000 to 10,000 ozs Au and 40,000 to 43,000 ozs of Ag Results from ongoing drilling campa
Slide 6: A Seasoned Management Team
A Seasoned Management Team Management Serafino Iacono Executive Chairman Federico Restrepo-Solano Chief Executive Officer Michael Davies Chief Financial Officer Amanda Fullerton General Counsel & Secretary Alessandro Cecchi Vice President, Exploration Luisa Masso Vice President, Finance, Spain & Col
Slide 7: Capital Structure
Capital Structure Major Shareholders Exchanges 52 Week Range October 1, 2026 Close Cboe CA: DMET CA$0.41 – CA$1.17 CA$0.54 OTCQX: DNRSF US$0.30 – US$0.90 US$0.3867 Number Expiry Exercise Price Per Share Common shares (DMET) 505,582,353 Other Serafino Institutional Shares issuable for: Iacono and Ret
Slide 8: Zancudo Project – Colombia’s Newest Gold Mine
Zancudo Project – Colombia’s Newest Gold Mine Cauca Belt, Colombia Au Ag Medellin Zancudo Project Located in a Historic Mining District, ~30 km SW of Medellin. Colombia Project includes the former producing Independencia Mine. All permits in place for mining and processing operations. Offtake contra
Slide 9: 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 10: Zancudo Project – Preliminary Economic Assessment
Zancudo Project – Preliminary Economic Assessment (1,2) “ “ Assumption / Results 2026 PEA Total tonnes processed over the LOM 3,348,000 The updated PEA reaffirms the positive economic results Total waste mined over the LOM 715,000 from our underground mining operation at our Zancudo Mine Life 11 yea
Slide 11: Zancudo Project – Steady Growth During Early Production Phase
Zancudo Project – Steady Growth During Early Production Phase Mining operations commenced in Q2-2025. The current “early production” phase encompasses artisanal mining in accessible areas of the Zancudo Project. Mine development is opening new fronts that are being developed for long-term convention
Slide 12: Zancudo Project - High-Grade Au-Ag Concentrates
Zancudo Project - High-Grade Au-Ag Concentrates All equipment for the new 1,000 tpd processing plant is located at site. Plant is fully permitted. Construction has started and it is expected to be commissioned and operating to produce concentrates by end of 2026. Long-term offtake agreement in place
Slide 13: Zancudo Project – A Growth Opportunity in the Cauca Belt
Zancudo Project – A Growth Opportunity in the Cauca Belt Cboe CA: DMET | OTCQX: DNRSF 13
Slide 14: Zancudo Project – Mineral Resource Estimate
Zancudo Project – Mineral Resource Estimate (1) Grade Material Content Tonnes Category Au Ag AuEq Au Ag AuEq (kt) (g/t) (g/t) (g/t) (koz) (koz) (koz) Indicated 979 6.9 84 7.9 217 2,657 249 Inferred 4,636 5.6 84 6.6 832 12,508 982 Updated MRE is effective as of October 31, 2025. The Zancudo Project c
Slide 15: Zancudo Project – Next Drilling Campaign Has Started
Zancudo Project – Next Drilling Campaign Has Started 2026 Exploration Drilling Campaign – 15,100 m Brisas target – 5,700 m of surface in-fill drilling. Designed to better delineate and extend the Santa Catalina ore shoot at the Brisas target. The Santa Catalina ore shoot extends from the Indepen
Slide 16: Zancudo Project – 2026 Drilling Program – First Results
Zancudo Project – 2026 Drilling Program – First Results (1) Las Brisas Target Area First 12 drill holes totaling 2,270 meters carried out from 4 purpose-built surface drill platforms (IF07, IF08, IF12, IF05). The thick, high-grade interval in ZM-210, the hanging-wall mineralization and the emerg
Slide 17: In-Demand Critical Minerals
In-Demand Critical Minerals Near-Term Producer of Low Carbon Metals AGUABLANCA in Europe The Right Jurisdiction; Proximal to Nearby Producers 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 Atal
Slide 18: Aguablanca Project
Aguablanca Project Highlights Extremadura, Spain 21.8% 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 Pr
Slide 19: 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 20: 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 21: 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 in late 202
Slide 22: 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. North orebody This will require a drilling program focused on Main orebody expansion to depth of the mineral resources as well as expanding the resou
Slide 23: Lomero Project
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 24: 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 25: Lomero Project – Investigation Permits Located on IPB Mineralized Trend
Lomero Project – Investigation Permits Located on IPB Mineralized Trend Palomarejo Lomero-Poyatos • Investigation Permit No 14,978; • Rubia Investigation Permit No 14,977 • 100% held by Alto Minerals S.L.U. • 100% held by Alto Minerals S.L.U. • 151 hectares area adjacent to and on strike with the •
Slide 26: 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 27: Toral Project
Toral Project 250km Glencore Zinc Smelter Leon Province, Spain Zn Pb Ag 100% through Toral Metals Iberia S.L. Toral Project Located in a Well-Mineralized Historic Mining Area and Proactive Jurisdiction Spain The current Toral exploration license covers an area of ~2,900 hectares. Upgrade of permit t
Slide 28: Emerging Multi Asset Producer in Colombia and Spain
Emerging Multi Asset Producer in Colombia and Spain In Production in Colombia Zancudo in production with commercial concentrates production expected by end of 2026; Aguablanca coming into production in the next 12 months In-Demand Critical Minerals Au, Ag, Cu, Ni, Pb, Zn, Co, Pt, Pd Aguablanca desig
Slide 29: Have Questions?
Have Questions? GET IN TOUCH WITH DENARIUS METALS Investor Relations +1 (416) 360-4653 investors@denariusmetals.com www.denariusmetals.com
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