Collective Mining Discovers a New Tungsten Enriched High-Grade Subzone 300 Meters Below Surface at Apollo by Drilling 27.35 m at 37.55 g/t AuEq (1.68% WO3, 11.62 g/t Au, 54 g/t Ag, 0.43% Cu)

About this update from Collective Mining Ltd

MIAMI, June 29, 2026 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce result for eleven holes as part of the 2026 drilling program at the Guayabales and San Antonio projects located in Caldas, Colombia. Ari Sussman, Executive Chairman commented: "These results reinforce the exceptional scale and depth potential of the Apollo system. The discovery of a new high-grade, tungsten-enriched subzone beginning 300 meters below surface, distinct from and well below the near-surface tungsten zone, demonstrates that Apollo continues to grow in both size and metal endowment with virtually every hole we drill. With 13 rigs turning and a fully funded 2026 program, we are well positioned to continue expanding the Apollo system in multiple directions." To date, Collective has completed 184,000 meters of diamond drilling across the Guayabales and San Antonio projects, including 120,000 meters at the flagship Apollo system, which anchors the Guayabales Project. With US$113.3 million in cash (as of March 31, 2026), the Company is fully funded for its planned 2026 program, which envisions up to 100,000 meters of drilling. The Company presently has 13 diamond drill rigs operating across the Guayabales Project. Details (See Table 1 and Figure 1-2) Drill hole APC-162, collared from Pad31 and directed to the southwest, was designed as the initial follow-up hole to test for a potential up-dip extension to the Tungsten rich subzone initially intersected in hole APC107-D5, which returned 28.45m at 0.80% WO3 (see press release dated June 24, 2025). APC-162 cut high-grade mineralization with observable coarse scheelite, chalcopyrite, sporadic sphalerite and galena as follows:

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